Business Support for Young People
Are you a young person aged between 18 and 30 looking to start up a business or looking to grow your existing business? The following organisations are here to help.
StartUp loans of £2,500 are being made available by the government to anyone aged 18 to 24 who lives in England and wants to start a business.
The loans will be distributed by loan distribution partners such as The Prince’s Trust and Enterprise Finance Solutions. The loans available are personal loans and you will be required to pay back the loan within three to five years at a fixed APR (annual percentage rate) of 3% plus RPI (Retail Price Index), which is currently 3.5%.
Everyone who applies for a loan will receive a free copy of the StartUp Loans Kit and, based on submitting a business plan, should your application for funding be successful, you’ll also receive a business mentor who will help you on the way.
The kit offers all the guidance you need to start a business, plus over £500-worth of offers on products from business cards to websites, netbooks and work suits.
To register your interest in applying for a loan please register at the StartUp Loans website.
The Kent Foundation
The Kent Foundation specifically assists young people who are interested in starting a business, or who have started a business and need some advice and support to grow their enterprise.
The Foundation offers an intensive programme designed to help young people develop the skills to start their own business. Advice and financial support is offered to help young people develop a new business idea, as well as test trading, business mentoring and opportunities to undertake joint marketing initiatives.
If you are a business that is interested in the work of the Kent Foundation, their business resources department offer services to organisations and partners interested in supporting Kent's enterprising young people.
To find out more visit the Kent Foundation website or call 01622 694341.
The Prince’s Trust
If you are between 18 and 30 years of age with a business start-up idea, you could benefit from support from The Prince's Trust including:
- a low interest loan of up to £4,000 for a sole trader, or up to £5,000 for a partnership (the average loan is between £2,000 and £3,000 but varies regionally)
- a grant of up to £1,500 in special circumstances (subject to local availability)
- a test marketing grant of up to £250 (subject to local availability)
- ongoing advice from a volunteer business mentor
- access to a wide range of products and services. Includes our free Legal Helpline sponsored by Barclays
For further information call 0800 842842 or visit The Prince's Trust website