Holden Associates – Accountants & Business Advisers Blog

The Prince’s Trust Business Programme has been running for 24 years and is open to 18- to 30-year-olds who are unemployed or working fewer than 16 hours a week.

In addition to business training schemes, the programme provides funding of up to £4,000 (or £5,000 for partnerships), along with support for your business idea.

The typical amount of funding businesses usually receive from the Trust is £2,500. Interest on the loan is three per cent (to cover administration charges) and the repayment scheme requires that you only pay £20 for the first six months with the remainder spread out over a period of two to five years.

With such favourable terms, it is little wonder that the charity has seen enquiries rocket by 65 per cent since last year.

Last year The Prince’s Trust helped nearly 2,500 people start their own business.

The Prince’s Trust gives not only financial support but also practical support, developing key workplace skills such as confidence and motivation. They work with 14 to 30-year-olds who have struggled at school, have been in care, are long-term unemployed or have been in trouble with the law.

The Prince’s Trust have helped more than 575,000 young people since 1976 and support 100 more each working day.

Around one in five young people in the UK are not in work, education or training. Youth unemployment costs the UK economy £10 million a day in lost productivity, while youth crime costs £1 billion every year.

If you fit the criteria then contact The Prince’s Trust today, it could be the chance you have been waiting for.

If you are thinking about contacting the Princes Trust to help you set up and run a business I feel it is worth mentioning that WinWeb who provide our Online Infrastructure support the Princes Trust, and provide the use of OnlineOffice for all Princes Trust sponsored business start-ups for £FREE. The benefits of this can not be undersold, they are huge, not only will this help you when you start up, but as your business grows this infrastructure will continue to support you, and if you need further help or support Accountants like ourselves are on hand to help you take your business further.

Good luck.