The £1 million from the Department for Business, Innovation and Skills will enable youth charity, The Prince’s Trust, to help unemployed young people explore the viability of their business plans, develop their initial ideas and bring their businesses to life.   

In the next five months, 630 young people will take part in The Prince’s Trust’s new ‘Be Enterprising’ course.  The Prince’s Trust expects that 270 young people will see their own business come to life through the course, with others moving in to other work, education and training.  Fifty young people who have already successfully set up a business with help from The Prince’s Trust will become Young Ambassadors, to inspire other young people to be enterprising – particularly in the most deprived areas of England. 

Business Minister Pat McFadden met young business people and those taking their first steps towards becoming entrepreneurs at small business centre in Kennington today.  He said: 

“It is inspiring to see young people turning ideas into commercial success. It shows that irrespective of background, with the right support, young people have the drive and ideas to build successful businesses.   

“The teenager with an idea can become the young entrepreneur of tomorrow and the business leader of the future – with a vital contribution to make to the UK’s future economic prosperity.” 

Speaking at the first day of  The Prince’s Trust new London course he added: 

“What young people need is the support to make these ideas happen and the skills and confidence to get them off the ground and turn them in to sustainable businesses. That is why we are investing in enterprise at the grass roots.” 

The Prince’s Trust Chief Executive Martina Milburn said,  

“Young entrepreneurs are the spark plugs of our economy. With these vital funds we will be able to inspire young people to be enterprising and realise their potential.” 

Claire Pearson, who started her Matlock fashion business – The Bee Tree – with help from The Prince’s Trust, said: “Starting my business has completely changed my life. Before I set up my business I felt like I hadn’t really achieved anything worthwhile. Now I’ve created a future for myself and I’m so proud of what I’ve achieved. I hope I can inspire more young people to reach their potential, in the same way I have.”