Euro fund offers kick start for young entrepreneurs

A EUROPEAN funded project to encourage young people to establish their own businesses is up and running and helping new enterprises find their feet, its organisers have said.

Further education colleges and training providers teamed up to increase the number of successful, sustainable and growing enterprises in Yorkshire.

The European Regional Development Fund gave £5.6m to the programme, with colleges and training providers across the region funding the rest.

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It aims to help colleges promote a greater awareness among students of entrepreneurialism and the benefits of being self-employed.

Organisers hope to have helped to create 315 new enterprises by the time the funding ends in 2013, hence the name of the scheme: net315.

They will only count businesses once they reach 12 months old.

The European funding arrived in September 2009 and business support activity started later that year.

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The various colleges and training organisations are now working with between 150 and 160 different young enterprises, of which they say they expect 60 “to hit that one-year mark”.

Jennie Beaumont, head of external funding at Leeds City College, the lead organisation, said: “What we have experienced is we have really enterprising students across Yorkshire and it’s giving them the confidence and support and space to be able to develop their ideas and move them forward.”

She said many of the young people involved are keen on enterprises which have social value, “which fits in with their philosophy”.

The programme is aimed predominantly at 16-35 year-olds, although the organisers say “nobody is excluded”.

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Ms Beaumont said the benefit to the taxpayer is that “they start new businesses and are less reliant on the public purse”.

She added: “People start up new businesses which hopefully will grow and create new employment opportunities which improve the local economy.”

The scheme’s new website, which has been designed and developed by York-based Fox Communications, goes live by early next month.

It will provide a central source of project information including news and ongoing events, as well as a place to showcase the successful businesses assisted through the project.

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Ben Fox, director at Fox Communications, said: “All further education colleges and specialist partners can update the site themselves, as well as use it to collaborate with each other.”

Colleges are offering space for students to attend workshops, hotdesk and run their business.

Training partners are offering mentoring services, workshops, virtual networking and enterprise-related events and other programmes.

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