Young workers: 'Never forget your dreams'

 

Although millions of young people globally are searching desperately for a job there are many who have bucked the unemployment trend and have successfully taken their first step on the career ladder.

As part of a series of features about youth unemployment around the world, we asked you to tell us your stories of how you got your break in these tough circumstances, and what advice you'd give to others still searching.

Here are your stories which include war, luck, determination and realism.

Bruno Menzan, 30, human rights consultant, Dakar, Senegal

'Do not get discouraged by failure and keep trying'

Bruno Menzan in Dakar, Senegal Bruno Menzan is a full-time consultant for human rights in West Africa

I was interviewed for around 10 of the many positions I had applied for. But I think when you fail to be shortlisted for roles, it does make you question your capabilities and skills.

There were also lots of obstacles I had to face. My home country - Ivory Coast - was going through a civil war and so I would be being interviewed over Skype while there were bomb blasts going off in the background. My priority was finding a good job while caring for my daughter. For me it became an issue of survival.

Don't just look for paid roles - volunteer or intern in order to get an insight into a professional environment and structure your CV so that it highlights your accomplishments and talents.

Do not get discouraged by failure and keep trying. Learn from your unsuccessful attempts.

Anna Claesson, 26, journalist, Boras, Sweden

'Have the courage to stand out, and stand up for yourself'

Anna Claesson: "Be patient and remember that no-one starts off at the top"

Anthony Kogi, 23, technical support, Nairobi, Kenya

'Keep on trying and if you have to settle for an internship, do it to gain experience'

Anthony Kogi Anthony Kogi networked before getting his first job at GuruIT

After university I sent out a bunch of applications and dropped off my resume at offices all over Nairobi. I also did a lot of networking.

Although Kenya has a high rate of unemployment, I chose not to give up.

I bumped into my current employer one day and handed him a copy of my curriculum vitae on the off-chance he needed somebody. A day later he called me. I was first an assignment research assistant but am now working in technical support.

This is a small start-up company but it's giving me the experience I need.

I would say keep on trying and even if you have to settle for an internship, do it so that you at least gain experience.

Emilie Prattico, 29, business consultant, Paris, France

'Find a strategy that emphasises how interesting and unique your background is'

Start Quote

Emilie Prattico

Find a strategy that emphasises your unique background”

End Quote

After a long time spent in academia working on a PhD in philosophy and teaching, I changed direction completely and enrolled in a one-year masters programme at a French business school.

The change turned out to be radical as I have now just started working at a management and strategy consulting firm.

But I had entered the recruiting process many months before my first interview. I met people who worked in the industry at the companies I wanted to work at, friends of friends and alumni from the various international universities I had attended.

That helped me to feel comfortable entering the complicated and arduous process of applying and interviewing.

My advice is to find a strategy that emphasises how interesting and unique your background is.

Farah Syahirah, 26, economic analyst, Malaysia

'The job you settled for could be the stepping stone to achieving your dream job'

Farah Syahirah Farah Syahirah started her first job as an economic analyst in an investment bank last year

After studying in the UK, I hoped to enter the field of foreign affairs and diplomacy but then realised that I had no idea about how to get into that line of work in Malaysia.

I still hope to work in foreign affairs but I have come to terms with the fact that not everybody gets their dream job immediately after graduating. My current job teaches me how to track and analyse economic trends so I'm hoping that will help me in the future.

My advice to those looking for a job - sometimes you just need to settle, but never forget your dream.

The job you settled for could be the stepping stone to achieving your dream job. That hope is what forces me to wake up each morning to go to work.

Kristin Cornett, 23, social media analyst, Virginia, US

'Be stubborn, be determined, be thorough'

Kristin Cornett Kristin Cornett is an analyst for Navanti Group

After graduation, I spent nine months waitressing until I found a part-time internship opportunity via a family friend contact. I moved to take up the position at the drop of a hat.

I applied all over the world stating I'd be happy to relocate. Many companies never responded despite my follow-up phonecalls and emails.

But I now work in a small team of analysts conducting social media analysis and drafting reports which focus on the Western Africa region.

Persistence is key. Be stubborn, be determined, be thorough. Apply to positions you may not be directly interested in.

As a young jobseeker you are full of so much potential, don't let yourself be lost among the discouraged!

Tom Gibby, 23, trainee solicitor, Nottingham, UK

'A willingness to volunteer is also vital as it illustrates that you care about more than just yourself'

Young and jobless graphic

High youth unemployment is one of the biggest problems confronting societies around the world, condemning whole generations to a life of much reduced income.

In our special report we look at the challenges facing today's young and jobless, and the attempts to overcome the problem.

Getting a first job as a trainee solicitor was the hardest challenge I ever faced.

I have emerged from the process a stronger, tougher and better person, having learned vital skills to survive in both a tough profession and economic world.

To cross the line, I had to show dedication to the legal profession. This I did through working, unpaid and funding my own expenses, at nine firms every holiday. I needed teamwork and leadership skills, which I acquired through getting involved in university activities, and experience in the workplace which I got by working in a supermarket and a local restaurant.

A willingness to volunteer is also vital as it illustrates that you care about more than just yourself.

Also crucial is business acumen. It is simple to get, given how easy it is to access information online and via television programmes. Taking notes of the key points and issues gives you enough to have an opinion and so score points at interview.

Laura Hoskins, 24, assistant manager, La Libertad, Peru

'Perseverance is key'

Laura Hoskins Laura is an assistant manager working for British-Peruvian non-government organisation Otra Cosa Network

Immediately after leaving university I was lucky to land a seven-month unpaid internship at the Oxfam campaigns office in Manchester in the UK.

However, my dream was to work for an non-government organisation in Peru and so I decided the only way to launch my career was to study for a masters in international development.

Finding my first job wasn't as stressful as I'd imagined. In fact, my first application landed me my dream job. I worked extremely hard for my interviews and here I am today in a small town in northern Peru using both of my degrees.

I believe that by gaining as much relevant experience as possible during and after university and being willing to start at the bottom have paid off. It really made the quest for my first (and dream) job relatively pain-free.

Use any contacts you might have in your area of work who can help you source job vacancies and just apply for everything you can - perseverance is key!

Bahruz Naghiyev, 25, treasury controller, Baku, Azerbaijan

Bahruz Naghiyev Bahruz Naghiyev and his supervisor at Pasha Bank

'Be willing to accept new challenges and risks so you can discover just how far you can really go'

I started working when I was still in college in the US.

Unfortunately things didn't go the way I was planning and due to the economic crisis, investment firms started laying off foreigners so my chances of getting hired by one of them was almost zero.

I decided to go back to Azerbaijan where I went through several exams and interviews before I finally got my first full-time job at Pasha Bank as a treasury controller.

I believe achievements don't come with strength but with perseverance. The traits which most successful people have in common are perseverance, persistence and determination.

The key to success is being able to develop these characteristics, stay passionate about your ambitions and be able to take a risk when necessary.

If you would like to get your dream job you need to persistently improve yourself, be willing to accept new challenges and risks so you can discover just how far you can really go.

Gebe George, 27, marketing specialist, Manama, Bahrain

'Keep studying even if you have to work at the same time'

Gebe George at work Gebe George works for Techno Blue in Bahrain

I am an Indian who was educated in Bahrain and finished my masters in Australia. I am currently working as a marketing specialist for Techno Blue, which represents Samsung in the country.

I was unemployed for nine months and was finally ready to call it quits and return to India when I got an interview call from the company for a role in logistics.

I went along but the chief executive officer refused to employ me. He told me that he hated to see a person like me stuck behind a desk and instead gave me the marketing role. He was aware I did not have much experience but guaranteed full support and mentoring. I said yes immediately.

Though I found it extremely hard to find a decent job in Bahrain, I did not lose hope. Bahrain is home to me, and although I am not a Bahraini passport holder I love this tiny island with a certain passion.

Bahrain was also going through a tough year with all the protests taking place as part of the Middle East "revolution". Trade was bad and businesses were shutting down everywhere. But I kept at it.

I would advise other jobseekers to keep studying even if you have to work at the same time.

Ngoc Nguyen, 22, sales assistant, Saigon, Vietnam

'Seize every chance going and step out of your comfort zones'

Ngoc Ngyuen Ngoc Ngyuen's language skills helped her to find her first job

I'm working as a sales assistant in a furniture company - it's a job I started a few months ago.

My sister worked at the same company and when she decided to leave, she told me about the vacancy. She helped me send my curriculum vitae to the human resources department. But when I had the interview the boss was impressed with my English language skills - so it was a mixture of luck and talent.

At university I studied import-export business administration but I'm not really using my specialism much. I do like my job now as sometimes I have the chance to meet new customers and learn how to deal with them, solve problems and do the best I can. But I am still studying as I want to know more about foreign trade.

I would say seize every chance going and step out of your comfort zones.

 

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

Comments

This entry is now closed for comments

Jump to comments pagination
 
  • rate this
    +3

    Comment number 78.

    I finished my degree and decided to take a few months off. That turned into a year of barwork/waiting, with about 6 months of those being job searching. While working about 5 months ago I took food out to a table of guys in for a working lunch and overheard they were talking about shipping. I mentioned that i had a degree in Naval Architecture and Marine engineering and I am now working for them.

  • rate this
    +3

    Comment number 76.

    my advice would be to be open minded, and dont worry if you dont get your "dream" job straight away. Every other job you get is a stepping stone to the one you want. Spend the extra time tailoring a CV and covering letter to a specific job title and read the job description thoroughly. If you dont match all the criteria then dont bother, the employers will see it as a waste of their time.

  • rate this
    +2

    Comment number 60.

    I got my first job after 200+ typewriter generated letters. A huge investment of time an effort in those days (unemployment was even higher then than now!).

    My tips - be prepared to travel, be prepared for temporary compromise, research the employer and tailor your CV for each application. Keep a well rehearsed portfolio of "nuggets" of experience or achievement in your head for interview use!

  • rate this
    +1

    Comment number 44.

    In addition to my comment below (No. 40) - I have to agree with a comment a few pages back. There is an element of luck. There is an element of making your own luck. I feel that I had both of these elements on my side, and I thank my lucky stars every single day that I have a job I love, in a company and industry that looks after its staff well.

  • rate this
    +5

    Comment number 40.

    After unsuccessfully applying for hundreds of jobs after my graduation, I began to lose faith. I noticed a friend-of-a-friend (who I had never met) on Facebook worked for a company I'd previously sent a CV to. I asked him nicely to have a look at my CV, he passed it onto his boss after a few changes - I landed the job a day later. It's not what you know, it's who you know. Making contacts is key.

 

Comments 5 of 8

 

More Business stories

RSS

Business Live

  1.  
    13:01: Matthew West Business Reporter

    That's all folks! There are results from Carnival and the Bank of Japan will make its latest interest rate move or non-move. We'll see you at 06:00.

     
  2.  
    12:58: ECB to publish minutes

    The European Central Bank has announced that it will publish minutes of the monetary policy discussions of its governing council from next year, starting with the meeting on 22 January. The minutes will be published four weeks after the meeting but won't give details of how individuals voted.

     
  3.  
    12:42: North Sea oil crisis
    Apache facility, Wick, Scotland

    BBC Scotland reports another oil and gas firm is to cut the wages of its contractors. Apache, one of the North Sea biggest producers, is imposing a 10% reduction from 1 January. It comes the day after oil services company Wood Group announced it was cutting contractors wages by 10% and freezing staff salaries. A spokesman for Apache has refused to comment on the move.

     
  4.  
    12:32: Russia crisis

    It's over! No not the economic crisis in Russia - Mr Putin's marathon annual press conference. At 3 hours and 20 minutes it's merciful that it happens just once a year. And the rouble? Well it's at 62 to the US dollar - so somewhat improved on earlier this week when it appeared to be in freefall.

     
  5.  
    Via Twitter Gavin Hewitt Europe editor

    "German Fin Min Schaueble's msg to Greece 'it is .. the right signal in this critical phase to give as many stabilising signals as possible.'"

     
  6.  
    12:15: Oil prices rebound
    Kittiwake platform

    Oil prices have rebounded again today. North Sea Brent Crude is up 2.5%. That has boosted shares in oil firms. Petrofac is leading the FTSE 100 higher with a 5.2% gain.

     
  7.  
    11:57: Winter wonderland
    Reindeer

    It's not really Christmas until a "Winter Wonderland" has been criticised for smoking elves and sad reindeer. This year's contender could be Yorkshire Winter Wonderland. It shut after just 24 hours reports the Daily Telegraph after visitors complained that it was rubbish-strewn and poorly constructed.

     
  8.  
    11:38: Russia crisis
    Russian President Vladimir Putin

    Asked if Russia is in a new Cold War by the BBC's world affairs editor Jon Simpson Mr Putin says Russia is not attacking anyone or encroaching on anyone else's interests. He argues Russia has only two military bases abroad and that the US defence budget is ten times that of Russia's. He says sanctions against Russia have been introduced in a completely illegitimate and illegal way.

     
  9.  
    Via Blog Antony Reuben Head of Statistics, BBC News

    Remember the £1.7bn extra bill the UK received from the European Union last October? George Osborne went into negotiations with the EU and claimed to have halved the bill, delayed payment and avoided punitive interest rates. But now we've had more details of that deal and it seems the benefits from it were negligible - although that is disputed by the Treasury. Read more at BBC online.

     
  10.  
    Sony cancels The Interview Via Twitter Michael Moore Filmmaker

    "Dear Sony Hackers: now that u run Hollywood, I'd also like less romantic comedies, fewer Michael Bay movies and no more Transformers."

     
  11.  
    11:12: Russia crisis

    We're still monitoring Russian president Putin's press conference - it lasts a rather daunting four hours. Mr Putin has just said his government is working on mechanisms to legalise offshore capital returning to Russia, in another overture to ex-pats. Mr Putin says: "It's necessary to legalise not only offshore properties but properties where the rights are assigned to relatives (of business owners),"

     
  12.  
    10:56: Deutsche to sell Postbank?

    Deutsche Bank says it is going to review its strategy in 2015 after a German business magazine said it was considering major changes, which could include the sale of its Postbank subsidiary and a revision of its profit targets. Deutsche refused to be drawn on the possible sale. Manager Magazin reported shareholder disquiet at Deutsche Bank's current progress and said Santander may be interested in buying Postbank. Santander has kept schtum.

     
  13.  
    10:41: Pork pie probe
    A picture of a Sainsbury's Melton Mowbray Pork Pie

    The Competition and Markets Authority (CMA) has launched an investigation into the merger of two pork pie makers. Pork Farms' plans to buy Kerry Foods' chilled savoury pastry (CSP) business, which includes pork pies, sausage rolls, pasties and slices, quiches and scotch eggs. The market is worth about £1bn a year. The CMA is worried the business will be too big will face competition from only 1 or 2 other suppliers.

     
  14.  
    10:23: Swiss interest rates turn negative

    Switzerland doesn't want your money. That was the message earlier this morning when the Swiss central bank cut interest rates to minus 0.25%, cutting the value of large sums of money left on deposit in the country. The negative interest rate is being applied to "sight deposits" - a form of instant access account - of more than 10m Swiss francs (£6.5m).

     
  15.  
    10:08: Russia crisis

    A thinly veiled threat for the European Union from President Putin. "Do they the [EU] want a stable guaranteed supply of energy resources from Russia that they desperately need?" he asks. "If they don't want it, well, then it's not going to happen. There are no other energy sources other than from Russia," he warns.

     
  16.  
    Black Friday bonanza Via Email Maeve Johnston UK Economist, Capital Economics

    While the effects from Black Friday should prove to be temporary, it is clear that the underlying picture is very strong. With consumers' discretionary spending power likely to be boosted by the drop in the oil price, confidence strong, and real incomes set to record their strongest growth in more than a decade in 2015, we remain optimistic on the prospects for retail sales over the next year.

     
  17.  
    Via Twitter Office for National Statistics

    "'Black Friday' helped boost household electrical goods by 32% in Nov 14 compared to Nov 13"

     
  18.  
    09:55: Russia crisis

    Mr Putin starts using hunting metaphors: "There are some people that want the Russian bear to lie down and eat berries," Mr Putin says. That way they can chain him and remove his "teeth and nails." The crisis should be an opportunity to change the structure of the economy otherwise Russia could end up "skinned and hanging from a wall" Mr Putin says.

     
  19.  
    09:52: Russia crisis

    If you think the Russian government is bureaucratic you should see the bureaucracy of the European Union, says Mr Putin. Even the Russian president has started making jokes about the EU now. Nigel Farage will be delighted.

     
  20.  
    09:47: Rouble remains volatile
    Rouble dollar

    The rouble has been bouncing around while President Putin has been speaking. It is trading around the lows for the session with a dollar buying more than 62 roubles, but earlier the rouble had strengthened to 58 to the dollar.

     
  21.  
    09:39: Russia crisis

    Mr Putin's press conference continues. He says the country will be back on its feet within two years. Growth will be inevitable, he says. Growth in the world economy will increase the need for energy resources, he says. But Mr Purtin says the economy still needs to be more diverse. $419bn of reserves will not be wasted he says. The government will fulfil its social obligations, he adds.

     
  22.  
    09:33: Black Friday bonanza
    John Lewis shop window

    Retail sales surged at their fastest rate in more than a decade in November, according to the Office for National Statistics. Retail sales volumes grew 1.6% from October and showed annual growth of 6.4%, the fastest annual pace since May 2004. Those figures were helped by the popularity of Black Friday this year.

     
  23.  
    09:23: Russia crisis

    Mr Putin says he hopes to see some strengthening of the rouble over the next few days. What happens if oil prices fall further? He says the government will focus its attention on those people that really need its help. He's guaranteeing to pay pensions and social security but he has just opened the door to "reduce some social spending".

     
  24.  
    09:21: Russia crisis
    President Vladimir Putin

    "I think everybody understands the most important situation of the day is that of the national currency," Mr Putin says. He blames "outside factors" for the fall in the rouble. Mr Putin says: "We have also failed to do a lot of what we had planned in terms of diversification over the last 20 years". "I think the central bank and the government are taking adequate measures to deal with the situation," he adds.

     
  25.  
    09:19: Russia crisis

    President Putin's annual press conference has begun and he's getting straight to the point and talking about the economy. So far it's just the numbers, unemployment is low, he says, below 5% and Russia's industrial complex should have grown by 3% by the end of the year. The government budget is running a surplus of 1.9%, he adds.

     
  26.  
    09:07: Russia crisis BBC Radio 4
    Vladimir Putin

    Russian president Vladimir Putin holds his end-of-year news conference this morning. Anne Applebaum, a former editor of the Economist, says Mr Putin's legitimacy as leader is based on a pact with the Russia people that he will bring them stability and rising living standards. In return the Russian people will live with the fact they don't really have democracy and will tolerate a great deal of corruption by him and the people around him, she says.

     
  27.  
    09:04: Russia crisis BBC Radio 4

    Anne Applebaum suggests the Russian people are likely to begin to question whether Mr Putin should stay in power if they are not getting anything in return, such as rising living standards. But there is no mechanism to remove him, she says. The test is whether he can keep the economy going over the next couple of months, in the meantime he can blame the West for the problems, or elements within Russia says Ms Applebaum.

     
  28.  
    08:56: GM suspends Russian sales
    GM logo

    GM has suspended sales of cars to Russian dealers, blaming the the "volatility of the rouble exchange rate", Bloomberg reports. Cadillacs, Opels and Chevrolets already ordered will be delivered at the agreed price, the reports says.

     
  29.  
    08:44: Newspaper review
    Business pages

    Let's have a quick look at the business pages. The Financial Times leads with that thawing of relations between Cuba and the US. It also says plummeting oil prices have hit renewable energy firms. The Telegraph says that BT is looking to raise £2bn by selling shares to fund its purchase of EE. The Times says that investors have been spooked by Russia's crisis and are abandoning emerging market debt.

     
  30.  
    08:28: North Sea oil crisis
    North Sea Oil platform

    North Sea oil firms and service providers are cutting staff and investment to save money and the industry is "close to collapse" the independent explorers' association Brindex has said. Falling oil prices are now beginning to make North Sea oil production too costly it suggests. Brent Crude has now fallen below $60 per barrel and has fallen nearly 50% since the summer.

     
  31.  
    08:10: Sony cancels The Interview

    A cinema in Texas is replacing The Interview with "Team America: World Police" says Radio 5 live presenter Rachel Burden. That might make Texans feel a bit better about the hacking of Sony Pictures, which North Korea is thought to be involved in. As well as satirising gung-ho Americans Team America World Police ridicules Kim Jong-il, the father of North Korea's current leader Kim Jong-un. Take that North Korea!

     
  32.  
    07:56: Royal Mail privatisation Radio 5 live

    "There's a huge opportunity for financial institutions to game the system," Lord Myners tells Radio 5 live. He's talking about the process of "book building" whereby big investors like pension firms and insurers are approached and asked what they think a firm is worth. Transparent digital auctions would be a better way of fixing a price. says Lord Myners.

     
  33.  
    07:42: Royal Mail privatisation BBC Radio 4

    "I think actually the sale of Royal Mail was a well-balanced complex exercise and the government managed to achieve its objective, Lord Myners tells Today. When asked why UBS forecast a price of 450p for Royal Mail shares, around the time the 330p a share price was set, Lord Myners argues that is an example of the so-called "Chinese Walls" within investment banks working.

     
  34.  
    07:23: Sony cancels The Interview
    Movie poster for The Interview

    Jon Taplin who produced Martin Scorsese's Mean Streets and The Last Waltz makes some interesting points on Radio 5 live about Sony's withdrawing The Interview. He points out that the biggest US movie chain AMC is owned by a Chinese firm. Many movie theatres are in shopping centres and AMC says it was under pressure from those shopping centres who were worried that shoppers would stay away if The Interview was playing. (The hackers had warned of 911-style attacks).

     
  35.  
    07:08: Mobile phone coverage Radio 5 live
    mobile phone user

    There's been a "huge row" between mobile operators and companies says BBC technology correspondent Rory Cellan-Jones on Radio 5 live. The result is today's announcement that firms will invest £5bn in mobile kit to achieve 90% geographic coverage by 2017. That £5bn was going to be spent anyway says Rory, the companies wanted the government to abandon a "national roaming" scheme that they hated.

     
  36.  
    06:52: Local government pensions BBC Radio 4

    Local government pensions schemes are "staggeringly inefficient and a national embarrassment", according to the right leaning think-tank, the Centre for Policy Studies which has published a report calling for a radical overhaul of them. Currently 89 separate schemes in England and Wales are £47bn in deficit, it says. The report comes on the same day as the local government finance settlement.

     
  37.  
    06:48: Local council spending Radio 5 live

    Later this morning, councils in England will find out how much money they are likely to get from the government for the next financial year. Councils are expecting a 12% cut in their budgets. They are saying that the situation is "virtually unsustainable and services will start buckling under the strain", according to BBC political correspondent, Iain Watson. The government argues that councils have coped well with cuts so far, Iain says on Radio 5 live.

     
  38.  
    06:39: Royal Mail privatisation BBC Radio 4
    Royal Mail Glasgow

    The big problem for the government was judging the price and ensuring interest from institutional investors in Royal Mail, CCLA Investment Management's James Bevan tells Today. If shares were priced too high Royal Mail might not have attracted enough interest from institutional investors. That would have meant the shares would have lost value when they debuted on the stock market, and the government "gets accused of being greedy," Mr Bevan adds.

     
  39.  
    06:33: Royal Mail privatisation BBC Radio 4

    So the report into the stock market flotation of Royal Mail has been released but James Bevan, from CCLA Investment Management tells the Today programme the report tells us "very little about what actually happened. It's more of blueprint for what should happen in the future." He says the report seems to focus more on how to deal with institutional investors in any future privatisations.

     
  40.  
    06:27: Sony cancels The Interview Radio 5 live
    A banner for "The Interview"is posted outside Arclight Cinemas

    Sony Pictures has now cancelled the release of the film that provoked a cyber attack on the company. On Radio 5 live Steve Futterman, Los Angeles reporter for CBS Radio News, says it was primarily a business decision as five major theatre chains had abandoned the comedy (called The Interview), after the hackers made references to 911-style attacks. But Mr Futterman asks: Will the film have a video release or appear on a streaming service when the situation calms down?

     
  41.  
    06:19: US interest rates Radio 5 live

    "Markets are hugely relieved that the Fed will not be tightening rates any time soon," says James Bevan, from CCLA Investment Management. On Radio 5 live Mr Bevan says the markets are now betting there will not be a rise in interest rates during the next calendar year.

     
  42.  
    06:12: Cuba new era Radio 5 live
    Havana

    "It's quite a dramatic and unexpected step," says Phillip Oppenheim, managing director of coffee company, Alma de Cuba. That's after President Barack Obama announced moves to normalise diplomatic and economic ties. Mr Oppenheim thinks that announcement could make a real difference in two or three years time. He says that Cuba is very slowly being liberalised. It's become easier to set up small businesses, for example.

     
  43.  
    06:09: Royal Mail privatisation Radio 5 live

    Peter Hahn from Cass Business School explains that big institutional investors were approached in what's known as a "pilot fishing" exercise to ascertain a price Royal Mail. They, of course, were incentivised to quote a low price. Mr Hahn says that's a slightly simplified scenario - but was basically what happened. "IPOs (initial public offerings) are always more of an art than a science," Mr Hahn says on Radio 5 live.

     
  44.  
    06:07: Royal Mail privatisation
    Royal Mail"s Glasgow mail centre at St Rollox

    The government made £180m less from the £2bn sale of Royal Mail than it could have, a report commissioned by Business Secretary Vince Cable has said. It says shares could have been valued up to 30p more than the flotation price of 330p because of the high level of demand from banks and individuals. It said future government share sales should be more transparent and the pricing could be set at a later stage.

     
  45.  
    06:03: Markets boosted by US Fed

    US Federal Reserve chair Janet Yellen had some Christmas cheer for investors and borrowers on Wednesday when she signalled the central bank planned to be "patient" before raising interest rates. Most analysts had expected the Fed to signal its willingness to raise interest rates early next year but Ms Yellen's comments suggest the bank it wiling to wait a little longer. That's given markets a boost so far today.

     
  46.  
    06:02: Ben Morris Business Reporter

    If you want to get in touch you can email bizlivepage@bbc.co.uk or tweet us @bbcbusiness.

     
  47.  
    06:00: Matthew West Business Reporter

    Morning folks. It's going to be another busy morning by the looks of things. Yesterday's reassurance from the US Federal Reserve has cheered markets in Asia and even lifted the Russia rouble. Meanwhile, Royal Mail was "underpriced" by £180m, a report into its stock market flotation has found. There's lots more to come, so stay with us.

     

Features

From BBC Capital

Programmes

  • An ECG (electrocardiogram)Click Watch

    The wearable technology which could allow you to pay for goods with your heartbeat

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.