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Young people are the entrepreneurs of the future, and we should be looking to them as one of our sources of innovation for the high streets of tomorrow.

The Internet has heralded a revolution in our society. It has transformed the way we do business, entertain, communicate, and travel. In many ways, the change has been positive. The web has brought new freedoms, spurred economic growth, and extended the boundaries of knowledge.

No major technological change has ever been instituted by mankind without an array of negative consequences. The motor car has meant liberation for millions, but it has also caused congestion, environmental damage, and a disturbing death toll on the roads.

Businesses might have been helped by the ability to promote themselves on the Internet, but they have also been hit by the web's encouragement of time-wasting by their staff.

The great virtue of the web, its ease of communication, has also become its Achilles' heel in that it has polluted the air with meaningless babble and egomaniacal drivel.

Good businesses will survive good times and bad times.

What's crucial in a High Street store is a compelling reason for people to shop there. Shops must offer excellent customer service - and 'theatre' is a must.

Great customer service does not come by chance. It is the result of training and ensuring there are enough assistants to serve the customers.

Small does not mean insignificant.

A small business can survive for a while without making a profit, but if its cashflow dries up, the impact is fatal.

The decisions you make when you leave school define the rest of your life. So, in terms of making the right choices for your financial security as you get older, my best advice is to do something you have an interest in and are passionate about, as you'll be working for a long time.

I was lucky enough to find my passion early - in retail - and I have done well but, most importantly, loved doing it.

Ultimately, if you don't have an interest in what you do, it will be so much harder to make money from it.

If the cash runs out, it's like a heart attack for you and your business. Keep that front and centre of your mind, and you will have financial security and not be struggling to pay the bills.

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