Member Article

Self-employment scheme targets young jobless

Over half of young people in Newcastle think finding a job is harder than this time last year, research by The Prince’s Trust and RBS has indicated.

2,000 people aged between 16-30 in the city were interviewed, and nearly 60% feel worried about finding their next job.

One in five unemployed respondents think finding a job in the next year is unachievable, while more than a third claim they have not received any response to job applications in the past year.

However, just over half of those interviewed suggested that setting up their own business is a viable route out of unemployment.

David Laverick at The Prince’s Trust says: “It is clear that it’s a difficult time for young people in Newcastle as they’re becoming increasingly disillusioned with their lives. We need to ensure they are receiving the right support to help them find work.

“Setting up in business can be an escape route out of unemployment for these young people – and a route to success. Many of the disadvantaged young people we have helped through our Enterprise programme, with support from funders such as ERDF, have gone from joblessness to being their own boss and employing others too.”

The results of a wider national survey among self-employed young people, show half would recommend starting a business to unemployed young people.

Of the respondents in this survey, 13% said they had set up their own business because they were unable to find a job.

The findings are to support the aims of The Prince’s Trust’s ‘A-Z of Young Businesses’, a scheme which supports young people into setting up their own business.

As an enterprise programme, the scheme has been awarded £700,000 of ERDF money from the Competitiveness Programme 2007-2013, managed by the Department of Communities and Local Government.

Match funding is being provided by the Royal Bank of Scotland (RBS), as well as £20,000 from Greggs and £10,000 from Northumberland County Council.

Chris Sullivan, Chief Executive Corporate Banking at RBS, who are supporting the Trust’s scheme, said: “RBS is proud to continue to support the Prince’s Trust Enterprise Programme which is proven to help young people set up business. This is particularly important in the current economic climate and I hope this will inspire any young unemployed person to consider self employment.”

This was posted in Bdaily's Members' News section by Tom Keighley .