"Alongside this, the Government has been long calling for an ‘enterprise-led' recovery and David Cameron is heavily backing the Start-up Britain initiative, which just this week is visiting Cardiff to help give advice and guidance to Welsh start-ups.
"However, the most recent Global Entrepreneurship Monitor (GEM) report for Wales, which investigates entrepreneurial activity, showed future start-up expectation rates fell to just 5.1% in 2009, after falling steadily since 2005. This shows that, when this report was released, there had been a steady fall in future start-up intentions in Wales for four years; before the economic downturn.
"Now it's more important than ever to reverse this decline. In a time of economic instability, it's entrepreneurs that become the main drivers of growth. They take the step to create and build a business, which eventually ensures jobs and prosperity for the rest of the Welsh population, and it's in difficult climates such as this when entrepreneurs need the most support.
"This is also a particularly significant time for Wales, as those who have been relying on public sector employment may turn to self-employment after being affected by the up-coming Government cuts, which could mean job losses of more than 50,000.
"Despite the difficult climate, now is a fantastic time for start-ups as there is more support available for potential start-up businesses in Wales than ever before.
"Since 1982, Centre for Business has helped businesses get off the ground by running subsidised training workshops and providing bespoke support and advice across south Wales. During that time, we have helped to create over 10,000 new businesses, assisted 25,000 potential entrepreneurs and supported 6,000 existing businesses.
"This year alone, Centre for Business has helped set up more than 250 start-ups, and with the Start-up Britain touring in Cardiff this week and Government-funding to be had, now is an opportune time to become self-employed in Wales.
"Unfortunately it is widely known that four out of five start-ups end in failure. This coupled with the current difficult economic climate means that people perceive now to be a bad time for new business ventures. Despite this ‘fact', 83% of business start-ups helped by the Centre for Business are still going after three years and it's these successes that need to be celebrated to spread awareness and create an entrepreneurial culture.
"This idea of an entrepreneurial culture would create a more supportive environment for starting a business, where the move to self-employment can be seen in a positive light, regardless of whether the venture doesn't ultimately work. Even if a start-up isn't a success, the skills that the self-employed person will develop mean that they are motivated and self reliant, which are extremely transferable skills for employed roles.
"Entrepreneurs are in desperate need of more encouragement to prevent them from putting-off their ideas or turning away from the opportunities available to them. More guidance and advice is also needed to help confused or wary people take those ‘next steps' to self employment.
"One of the main barriers to self-employment is the fear of not having a steady income and the risk of losing commodities. By improving the accessibility of grant funding, spreading awareness of the effective use of credit unions and improving loan application processes for potential start-ups, entrepreneurs can easily be made aware of the support that is available to them and their businesses during their early stages. Only then will local people act on their ideas and launch their start-ups.
"In times gone by, and as recently as five years ago, starting up a business was seen as a lifestyle choice; credit was easily obtainable to anyone with a ‘big idea' and businesses were more professionally orientated. Unfortunately, start-up businesses are now increasingly being seen as an alternative to mainstream employment as job opportunities fall.
"By addressing this new audience of people seeking start-up information and working together to increase people's knowledge and awareness of the support available, the public and private sector could transform Wales into a country with a strong and growing economy.
"With more accessibility to the support that already exists, this great nation of potential entrepreneurs will be given the boost they need to harness and develop the skills needed to encourage growth in the Welsh economy.”