HAVING created his own successful business at the age of 21 from just £1,000, Penarth's James Taylor knows a thing or two about being a young entrepreneur.

Now seven years after founding SuperStars, a child development organisation, James has been appointed the chairman of the Welsh Government's entrepreneurship panel.

A long way from his days of sleeping on friend's sofas and travelling to appointments on a rusted scooter, James now employs 240 people. As chair of the panel he hopes he can help pass his knowledge on to budding entrepreneurs and make sure that people starting up in business are aware of the help that is available to them, ultimately encouraging economic growth across Wales.

Economy Minister Edwina Hart who set up the panel said that part of her aim was to create a more positive culture for people willing to take the plunge into running their own business.

She said: “We want to instil a culture of entrepreneurship in Wales and create a ‘can do’ attitude throughout society for the ultimate benefit of the economy.

"Wales has a strong track record of encouraging entrepreneurship and innovation which forms part of the school curriculum and is taught from primary school through to higher and further education."

James agreed that a change in attitude was something he wanted to encourage.

"One of the long term aims," he said. "Is to create a more positive culture in Wales.

"We've got an issue in this society. If someone fails in America they are encouraged to get back up again, which is part of the journey to success.

"In the UK if somebody fails they are pointed at and told "I told you so". No wonder we've got so many people unwilling to take that leap of faith.

"I know what that feels like, I know the challenges and I know the pitfalls.

"It's about making sure that the culture we create for young entrepreneurs is the right culture."