The Prince’s Trust partners with private equity investor on youth entrepreneurship
The Prince’s Trust has teamed up with LDC to extend its Enterprise program, aiding young entrepreneurs in growing their businesses during the initial three years.
Initially launching in the Midlands, it will expand across the UK in the coming months.
Enterprise Advance builds upon the existing Enterprise program, which empowers young people from diverse backgrounds, including disadvantaged communities, to start their own businesses by providing them with the necessary confidence, skills, and funding.
Since 2019, LDC, a private equity investor, part of Lloyds Banking Group, has partnered with The Prince’s Trust, assisting nearly 4,000 young people in fulfilling their entrepreneurial dreams.
Through Enterprise Advance, young entrepreneurs gain access to a mentor, structured business reviews, workshops, and networking opportunities.
One such entrepreneur benefiting from this support is Nyomi Smith, based in Birmingham.
In 2022, Smith launched Sanaa Giftshop, a gift and stationary business inspired by a gap in the market for products celebrating Black identity and she now sells her products online, in selected stores across the UK, and at craft markets.
She said:“I’m now at a point in my business where I’d like to expand in terms of product range and outlets. Sustaining the business and increasing my customer base is vital. Support that also highlights trends in social media marketing and how to unlock finance as a sole trader is crucial. LDC have given me and others at The Trust, a platform and support on several occasions to sell directly to new customers, so offering additional support on a larger scale through Enterprise Advance is an exciting opportunity, that will make a real difference to entrepreneurs like myself.”
Chris Handy, partner and head of West Midlands at LDC, said: “Young entrepreneurs play a vital role in the economy, both here in the West Midlands and across the UK. It’s crucial that we equip them with the necessary tools, skills and funding to grow and sustain their businesses. These individuals are driving innovation, progress and improvements in society, and they’re our next generation of business leaders.
“We have more than 40 years of experience in helping management teams across the UK to drive growth and realise their ambitions, and our partnership with The Prince’s Trust extends that commitment to young entrepreneurs from different backgrounds. Together with The Prince’s Trust, we’re creating a path for young business leaders that will empower them to contribute to the sustained growth of the UK economy.”
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