FSB: Small firms are stepping forward to reduce youth unemployment

Date: 11th February 2010

Small businesses are the key to tackling the rate of youth unemployment in the UK.

This is the view of John Wright, chairman of the Federation of Small Businesses (FSB), who said that the efforts of small firms have contributed to the "encouraging" signs that unemployment is starting to decrease.

Data from recently-published FSB research has revealed that one-fifth of small businesses are prepared to offer opportunities to graduate interns.

The comment follows the news that more than 50 UK universities have committed to providing internships in small businesses through the government's £13.6 million Backing Young Britain fund.

Mr Wright said: "Graduates on placements in small firms will be able to gain invaluable work experience and develop real skills at a time when the job market is sluggish at best, and small businesses will benefit from the skills of this trained and available workforce."

The expert described the internship model as a "win-win" for businesses and graduates, citing the fact that a quarter of all placements result in full-time employment.