The Prince's Trust

25 years of success

The Prince's Trust has helped more than 70,000 young people set up in business since 1983.

56% of Trust-supported businesses are trading into their third year.

What does the Business programme offer?

Start-up services and finance to help young people to start their own business

Start-up Services

• Assistance with putting together a business plan
• Volunteer Business Mentor for 2 years
• Start-up support for 3 years
• Self-help kits, seminars, free advice lines and other marketing support

Start-up Finance

• Test marketing grants up to £250
• Start-up grants of up to £1,500 in special circumstances
• Start-up loans of up to £4,000 for a sole trader or up to £5,000 for a partnership (average is between £2,000 and £3,000 but varies regionally)
• Low 3% interest rate
• Loan length between 1–3 years
• Monthly loan repayments by direct debit

Who can apply?

Young people who are aged between 18 and 30 who are:

• Unemployed
• Unable to raise all the finances to start-up a business from other sources (for example banks, local finance providers, friends and family)

Key facts

• Since 1983 over 60,000 young people have been supported creating more than 50,000 new businesses
• 3,700 young people were supported by the programme in the last financial year
• 6,400 people are currently volunteering as Business Mentors
• 56% of the businesses we support are still trading into their third year – a figure that compares favourably to commercial financing of ‘less risky’ start-ups
• 87% of young people felt that help from the programme satisfied their goals
• 38% of the businesses we support are in the service sector, 15% in media, arts and entertainment, 8% in maintenance and building, 7% in fashion and 6% in technology