Funding to help young set up own ventures

THREE East Yorkshire businesses headed by leading entrepreneurs are helping unemployed young people to follow in their footsteps.

Andrew Horncastle, Paul Sewell and Charlie Spencer have banded together to offer an alternative future to young people amid growing concerns about the social and economic impact of a “lost generation” facing long-term unemployment.

They believe they can help young people escape the misery of unemployment and take control of their futures by setting up their own businesses.

Hide Ad
Hide Ad

The plight of the young unemployed has risen up the political agenda with the recession causing a disproportionate rise in joblessness among 16-24-year-olds. Latest figures show almost one million young people are officially not in employment, education or training (so-called NEETs), with 138,000 of those in Yorkshire – almost one in five young people across the county.

Working with Hull-based youth development charity CatZero, the three entrepreneurs have pledged funding and substantial support from themselves and their teams to equip dozens of unemployed young people with the skills and confidence to set up their own business.

Horncastle Group, Sewell Group and Spencer Group have each contributed £25,000 to launch the CatZero Enterprise Programmes, believed to be the first initiative of its kind focused on turning NEETs into entrepreneurs. A further £25,000 has come from JobCentre Plus through the Flexible Support Fund.

Each company is working closely with the CatZero team to shape the programme they fund, utilising the skills and experience within the business to help participants to get the best possible introduction to self-employment.

Hide Ad
Hide Ad

For the three businessmen, the programmes are a vital way to give young people a chance to make a positive contribution to the economy and their community at a time when jobs are so hard to find.

Mr Horncastle, chief executive of South Cave-based Horncastle Group and a leading member of Hull’s For Entrepreneurs Only group, said the Horncastle donation would enable young people to benefit from “truly life-changing experiences”.

He says the private sector can play a vital role in “harnessing the untapped human resources” in the Humber region, in advance of expected huge investment in renewable energy industries around the estuary.

“We would like other organisations similar to ourselves, who feel able to do so, to consider how they may also be able to help,” he said.

Hide Ad
Hide Ad

“If we all strive to work together with innovative ideas, this city region will prosper and a stronger economy will help everyone.”

Paul Sewell, managing director of Hull-based construction-to-retail business Sewell Group, also sees the Enterprise Programmes in the context of the changing economic landscape of the Humber and the need to build skills and an enterprising culture to capitalise upon the region’s opportunities.

He said: “There will be huge investment in the Humber over the coming years and, with investment, comes job opportunities and careers.

“Our programme will support the region’s next generation into these careers.”

Hide Ad
Hide Ad

Eleven young people are now halfway through the first programme, backed by specialist engineering business Spencer Group.

They have taken part in a series of interactive presentations, with tasks for them to perform, covering key aspects of running a business, such as presentation skills, communication, branding, marketing, sales and creating a profit and loss account.

The young people are now developing a range of business ideas, from making decorative and security gates and railings, to electrical PAT testing, and music video creation, and appreciate the support they are getting from successful business people.

Chris Lison, 24, from Hull, who is trained as a glass blower and hopes to open his own shop, creating handmade ornaments, said: “I saw the CatZero entrepreneurship course as a chance to get help with my business plan, as well as develop myself.

Hide Ad
Hide Ad

“Getting the chance to meet people like Charlie Spencer was really enlightening. It was important to hear how people have started their own business. This is a fantastic opportunity – there are not many chances to do something like this.”

Mr Spencer, chief executive of the Spencer Group, knows from personal experience that big companies often start very small. He began his company with just two employees in 1989, funded by a £10,000 loan against his then home in Anlaby, near Hull.

It is now a £100m turnover business, has a UK-wide workforce of more than 400 and supports scores of self-employed contractors.

Mr Spencer said: “Running your own business is often seen as an unobtainable prospect for young people, but it certainly shouldn’t be.

“Opportunities are out there. We just need to give young people the confidence, support and guidance to help them to seize those chances.”

Related topics: