YOUNG entrepreneurs are refusing to allow the recession to destroy their plans to start their own business.

Those already in business remain confident that they can ride out the economic downturn and are looking for new opportunities, according to youth enterprise organisation Shell LiveWIRE.

A poll of members revealed that nine out of 10 were confident of success despite the current climate and two thirds said they expected their business to perform better over the next year.

The main concerns revealed by the report were accessing funding and young entrepreneurs’ own lack of experience of living through a recession. They are turning to older mentors for guidance on how to cope with the downturn and seven out of 10 said that the recession had made networking more important to them.

Shell LiveWIRE, which started in 1982 to help would-be entrepreneurs fulfil their ambitions, has recently relaunched its website to provide up to five £1,000 Grand Ideas awards each month to fund new business ideas for 16-30-year-olds.