Plea to business chiefs

May 24 2008 by Our Correspondent, Huddersfield Daily Examiner

AS The Prince’s Trust celebrates the 25th anniversary of its Business Programme, I would like to extend my heartfelt gratitude to our volunteer business mentors, staff, supporters and donors who have made it possible for thousands of disadvantaged young people to launch enterprises and boost Yorkshire and Humberside’s economy.

In the last five years alone, The Prince’s Trust Business Programme has helped 1,544 young people from across the region to set up in business through low-interest loans, grants and mentoring for up to three years with access to a new Business Club launched last week. We plan to support a further 260 before the year ends.

58% of them are still trading into their third year, which compares favourably to the national average. This is despite the fact that the young people we help have struggled at school, have been in care, are long-term unemployed or have been in trouble with the law.

However, funding for the Programme has never been more uncertain. Last year, we supported 40% fewer young entrepreneurs into business than in 1999 and less than any other year for over a decade. The Programme costs £1m per month, but each pound invested generates at least two pounds in return.

I am appealing to the region’s business brains to pass on their experience to the next generation or offer start-up finance to some of Yorkshire’s brightest young minds. By working together to invest in our young people, we can add real value to the communities we live in and to Yorkshire’s economy.

Peter Branson

Regional Director- Yorkshire and Humberside, The Prince’s Trust, Pontefract