Enterprise in Aberystwyth

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Enterprise in Aberystwyth

• Tony Orme
• And
• Ian Harris

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Introduction

• Tony and Ian (in the same mould as Bonnie and
  Clyde)
• Enterprise in the Welsh Economy
• Starting up a Business in Mid Wales
• Starting up a Business as a Career Move
• Are you an Entrepreneur ?
• Planning a New Enterprise
• UWA support for Entrepreneurs
• Other Enterprise support in Mid Wales
• Any Questions ????

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Enterprise in the Welsh Economy

• Decline in Traditional Welsh Industry
• Welsh Development Agency
• Support for Inward Investment
• Help for existing Welsh SMEs
• Support for Welsh Start-up Enterprises
• From Lifestyle Businesses to Spin-outs
• Objective One Funding for Ceredigion

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Starting up a Business in Mid Wales

• STRENGTHS
• WEAKNESSES
• OPPORTUNITIES
• THREATS

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Starting up in Business as a Careers Option

• Choices at Graduation
• Research
• Work for Large Corporate
• Work for SME
• Wanting to stay in Mid Wales ?
• The Self-Employment Option

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Are you an Entrepreneur?

• What precisely is an Entrepreneur
• Can you be taught to be an Entrepreneur
• Is it for you now?
• Is it for you in the future?

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What is an Entrepreneur

• a person who habitually creates and innovates to
  build something of recognised value around
  perceived opportunities
• Entrepreneurs see things that other people miss
• Bolton and Thompson 2000

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• Among the many thousands of things that I have
  never been able to understand, one in particular
  stands out. That is the question of who was the
  first person who stood by a pile of sand and
  said
• you know, I bet if we took some of this and
  mixed it with a little potash and heated it, we
  could make a material that would be solid and yet
  transparent. We could call it glass.
• Call me obtuse, but you could stand me on a beach
  until the end of time and it would never occur to
  me to try to make it into windows
• Bill Bryson Notes from a Small Island

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Are Entrepreneurs Born or Made..?

• What do you think..?

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And more importantly

• How would you conduct research to try to
  determine this..?

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What the academics think

• Butler and McManus (1998) state that 75 of our
  personality is genetically influenced and 25
  environmentally influenced
• Whybrow (1999) contradicts this and states that
  the ratio is 4060, genetic environment
  influence
• This research is based upon Identical twins
  separated at birth
• Irrespective, there is an inherent inbuilt
  psychological and an environmental component

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Environmental Factorscont.

• Is there an Entrepreneurial Heritage!
• How many here have parent/s who are self
  employed..?
• In various studies, between 48-65 of
  entrepreneurs came from families of self employed
  parents
• There is a disproportionate trend of
  entrepreneurs being the sons/daughters of
  entrepreneurs

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What is the most popular age that Entrepreneurs
initiate their businesses
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Two principal age groups in UK

• Between 22 and 28
• 45 Years and over
• Why the drop between late twenties and early
  forties..?

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Is work/educational experience important..?

• C. 90 of entrepreneurs initiate their business
  in the market/industry they were previously
  working
• Much like the old apprenticeship
• Is technology the same
• MIT example

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But how could you tell if you are a potential
entrepreneur..?

• Entrepreneurs are defined by the action factors

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Planning a New Enterprise

• What are you selling?
• Who are your customersresearch
• Competition.and Supply
• Marketing
• People
• Operations who, what, where, when ?
• Cash Flow Forecast
• Financing the gap !

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UWA Help for Entrepreneurs

• Aberystwyth Challenge Fund
• Wales Spinout Programme
• KEF Entrepreneurial Scholarships
• Crisalis Enterprise Network
• Graduating to Enterprise
• YE Graduate Programme
• Incubation Space

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Wales Spinout Programme

• The Spinout Package
• Who is Eligible ?
• Recent Spinout Businesses
• Significant Business Opportunity
• Close UWA Link
• Management Capability
• Finance Wales

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KEF Scholarships

• The Package
• Who is Eligible ?
• Recent Scholarship Businesses
• The Application Process
• What is KEF ?

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Other Enterprise support in Mid Wales

• Ceredigion County Council Grants
• Technology Grants
• Finance Wales Funding
• Potentia
• Menter a Busnes
• Technium Space
• Private Sector support

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Any Questions ?
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Enterprise in Aberystwyth

• Tony Orme
• Manager Wales Spinout Programme
• awo_at_aber.ac.uk
• 01970 622203
• Ian Harris
• KEF Champion
• Ihh_at_aber.ac.uk
• 01970 - 622243