State Of The Nation : Business support at early age is key

An entrepreneur who started out by selling sweets in the playground says schools need to do more to encourage young businesspeople.

Mr Matt Lovett, 26, of Balderton, is managing director of WOW Media, a group that owns seven websites across five countries.

Following his early success at school, Mr Lovett had several ventures, including mobile games and cashback websites — some of which had only short-lived success.

Mr Lovett said there was a lack of support for his interest in the world of business from his school.

“There was never any massive encouragement for me at school in terms of help with business, which I think held me back and made things a lot slower than they needed to be,” he said.

“There was very little support and even when it came to things like setting up a bank account — basic life and business skills — I had to learn all the day-to-day basics myself.

“I did not have a clue how to do my tax.”

'It is your determination that counts'

Mr Lovett said he wanted to see more support for young people who were trying to set themselves up in business.

“If I was trying to start a business today there are so many regulations and so many things you have to consider,” he said.

“It is so overwhelming and there is such a lack of support in that respect.

“There also needs to be more support in terms of personal finance because it is such an important life skill, but they do not teach you about it at school.”

Mr Lovett said young people living in Newark should not be too disheartened by the report.

He said: “It doesn’t really matter what area you come from — at the end of the day it is your determination that counts.

“I tried lots of different projects. You have got to try things and if they do not work, move on.

“If I tried to stay doing the same thing we would not be here today.”