A charity dedicated to encouraging entrepreneurial behaviour among Scotland’s young people helped dozens of new Tayside businesses get off the ground this year.
The Prince’s Trust Youth Business Scotland (YBS) said it had provided funding to 36 fledgling firms in the region in the first three quarters of the year.
The charity, which can makes loans of up to £5,000 available to start-up firms, also said it had made several grants to allow other new companies to test the market appetite for their products and services.
YBS focuses on entrepreneurs aged 18 to 30 and works with economic development agencies to advance the ambitions of young business people.
A vast range of firms have accessed support through YBS over the year, including a start-up offering alterations and repairs services, a plumber, and a picture framer. YBS also backed Dundee-based Siobhan Diamond Photography and new city sushi bar Oshibori run by young entrepreneur Usman Malik.
The charity also works in partnership with Dundee University’s Enterprise Gym a business incubator unit where it has Lachlan McLachlan’s Tradeate auctioning/ tendering website and 5 Style, which offers an online platform for product designers.
The local YBS unit is chaired by Dundee businessman Bruce Linton of James Keiller Estates, and managed on a day-to-day basis by Alan Laing.
It also has the support of volunteer helpers and business mentors who give their time to help bring through the next generation of business owners and employers in a cycle that often repeats itself.
Mr Laing said: “In 2014 there was an increasing demand for support, particularly from people facing long-term unemployment and from those simply finding it difficult to secure work.
“The Prince’s Trust supported many early start-up inquiries through their Explore Enterprise programme. It gives much-needed insight into what operating a small business is really like and what a young business person needs to do to ensure a successful launch.
“The trust in Tayside has been working closely with Dundee and Angus Chamber of Commerce.
“This year a membership initiative was launched offering a half-price fee for their first year of membership to our young people starting in business. This gives them many benefits, as well as tremendous networking opportunities.”
Mr Laing and volunteer Irene Duncan are keen to grow the group’s activities further and make a real impact on the prospects for those young people setting out on their own commercial journey next year.
“A sure sign of success is when businesses grow, resulting in employment for others,” Mr Laing said.
“This isn’t unusual in Tayside. William Stephen of Backyard Games started with one shop in Brechin and within a year has two further shops in Arbroath and Montrose. Ross Brown and Fraser Potter of Lovsushi in Perth have also increased their staff significantly, employing more than 10 people.”
Further information about YBS Tayside is available by contacting alan.laing@princes-trust.org.uk.