The Prince’s Trust and NatWest have launched a new campaign encouraging unemployed young people to start-up in business.
In light of stagnant youth unemployment figures over the last 12 months, we are urging more young people to seek support and consider setting up their own business to break out of unemployment.
Martina Milburn CBE, chief executive at The Prince’s Trust, said: "Young people have skills and talent, that are vital to the economy and, in the past year alone, The Trust has engaged with over 8,600 young people looking to solve their own unemployment via our Enterprise programme. The shift in the types of businesses The Prince’s Trust has helped set up shows that, despite challenging times, young people are incredibly resourceful.
We are now launching a new advertising campaign across both digital and traditional billboards to engage young people who have never considered starting up in business. Funded by NatWest and supported by digital agency Nonsense, the campaign features spoof infomercial-style films based on crazy and completely inconceivable business ideas to raise awareness of our work among young people.
Thom Kenrick, Head of Community Programme at NatWest which is the biggest corporate funder of our Enterprise programme, said: "The increasing focus on businesses in the food industry and media sector demonstrates that young people have their finger on the pulse when it comes to what’s driving the economy.
"Alongside funding and mentoring support from The Prince’s Trust, we know that a small spark can become a burning passion and a thriving enterprise. Through developing a business, young people can put unemployment firmly behind them and look forward to a brighter future."
Our Enterprise programme has been helping young people start up in business since 1983 and has supported more than 80,000 new ventures to date, thanks to support from a range of funders such as NatWest. Well known businesses which began with help from The Trust include household names Dynamo and kids' suitcase business Trunki.
Let's get down to business
Our figures show the change in types of businesses being launched by young people with support from ourEnterprise programme, particularly since coming through the recession.
- Pampering pays: Health & Beauty has been the most popular sector for Trust supported business start-ups for the last four years, taking over the number one spot from Building & Construction in 2010/11
- The rise of social media means more opportunities to communicate: The number of businesses in the Media, Marketing & Communications sector has been increasing steadily year on year since 2010/11. In 2014/15 135 young people started businesses in this sector with Trust funding and mentoring
- There are more farmers markets, food trucks and pop-up restaurants: Foodie culture has meant more young people launching ventures in the Food & Drink sector, up from 4% in 2009/10 to 8% of all the businesses we’ve helped in the last financial year
- Looking good is big business: Clothing & Textiles is a growing sector with 192 businesses receiving support, mentoring and funding to get going in 2014/15 compared to only 103 in 2009/10. This sector has remained the second most popular overall for the past four years
Anyone can have a great business idea. If you're interested in setting up your own business, get in touch with The Prince's Trust and we could help make it happen.