OUGD502 - Taking Care of Business - Further Funding Research - The Princes Trust

James suggested that we looked into possible sources of funding from The Princes Trust. This is an organisation that exists to aid young people in helping to get their ideas of the ground and realising their fullest potential. The website has a section explaining the support that is available for young people ages between 18-30 looking to start their own business. We saw this as a great opportunity to research possible sources of income. 

If you’re 18 to 30, living in the UK and unemployed, or working fewer than 16 hours a week, and have a business idea or some ideas to explore, our Enterprise programme could be for you. Kicking off with a free information session in your local area, we'll tell you how we can support you and, if you're still keen, we'll also invite you onto our four-day interactive workshop. You'll get to meet other like-minded people and have the chance to tap into an business expert, covering everything from business planning and marketing to sales, budgeting and tax. 

After this, it's time to start building your business. We'll support you to plan and test your ideas and give you the opportunity to apply for funding. That way, you'll be ready to meet our Business Launch Group at the end of the process. 

Once you've launched your business, we'll provide you with an experienced business mentor who will be on hand to share advice every step of the way - for up to two years.  

From beauticians and barbers to digital agencies and dog groomers, we think we've seen it all. Or have we? 

Services they offer include:

Business Plan Templates

Financial advice

Marketing direction

Business sustainability 

I believe that our business concept would definitely be successful and thrive with funding and support from the Princes Trust. It would provide us with enough money to make a dent into the start up and maintenance costs, as well as helping us stay organised with money going in and out of the business. The support mentors would be an invaluable resource in aiding us through the first few months of the business starting, a time which could be full of potential hiccups and problematic situations.