The John Cracknell Youth Enterprise Bank offers practical support and grants of up to £1,000 for young people who need finance to help set up or develop their businesses. Since it was established in 2003 it has helped more than 150 young entrepreneurs in a wide range of business sectors.
The bank is funded through a range of donations from young entrepreneurs together with Hull Training and is closely linked to the Hull Youth Enterprise Partnership, which aims to encourage young people to become more enterprising and contribute to Hull’s target of creating 1,200 new businesses.The donation from KC means more enterprising young people from Hull and East Yorkshire who are aged from 13 to 21, can receive funding to buy the business equipment and services they need to get started.
Sean Royce, Commercial and Finance Director at KC, said: “We’re delighted to support an organisation that does such important work in nurturing entrepreneurial spirit amongst the region’s young people.
“Today’s enterprising young people today are tomorrow’s employers and it’s vital for their future success that they get the practical and financial support they need in the early days of their business careers.
“As a local responsible business we have a role to play in supporting the region’s economy and stimulating business growth and this is a way of doing that while also inspiring young people to make their careers in business.”
Amongst the businesses the Youth Enterprise Bank has supported are Hessle florist Amanda’s Blue Orchid and health food and smoothie firm Xing Health.
Maureen Foers OBE, Chair of the Youth Enterprise Bank, said: “The donation from KC means we can help more of the region’s young people make their business dreams come true and start them on the path to business success.
“The donation also means that for the first time we can offer grants to young people not just in Hull but across the wider East Yorkshire region.”
KC’s donation follows the recent launch of the KC Invest, an investment fund worth up to £600,000 to the local area, which will support start-ups and expanding businesses in the digital and technology sectors across the region.
The Hull Youth Enterprise Partnership recently launched Global Entrepreneurship Week 2011, which takes place from 14-18 November. During the week children and young people across the region will take part in events to stimulate their interest in business, with guest speakers including The Apprentice stars Ruth Badger and Claire Young.
Ruth Badger, Patron of Hull Youth Enterprise Partnership Said: “I wish to thank KC for agreeing to invest £20,000 a year for the next three years in Hull and East Ridings young people through the John Cracknell Youth Enterprise Bank. There is no doubt that the area has a reputation to be proud of supporting its enterprising young people and this investment shows that KC has bought into that success.”
Sponsors of Global Entrepreneurship Week include KC, Hull and Humber Chamber of Commerce, the Co-operative, HWS Hosting, NPS Humber, St Stephens, Jobcentre Plus, Hull Training, Hull FC, Hull City AFC, Mail News and Media, Hull College, University of Hull, William Jacksons, City Works, Golding Computer Services and Arco. Businesses who want to get involved should call Charles Cracknell, Youth Enterprise Manager at Hull City Council on (01482) 612983 or visit www.youthenterprise.co.uk
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