Prince’s Trust celebrates 25 years helping companies to grow

May 21 2008 by Matt Johnson, Liverpool Daily Post

BUSINESS support organisations have become a business in themselves in recent years.

Tap those three words into your favourite internet search engine – perhaps with a location, too – and you will not be short of choices of where to browse next.

Although, on the face of it, there is no shortage of people profiled as being able to offer help, it’s sorting out who actually does what which is the bigger challenge.

Many of these organisations have been through a range of identities. In particular, those offered by central government departments where new cabinets, new ministers (and their new special advisors) often mask a shortage of original thought behind a lavish makeover of an existing brand.

The name on the Whitehall door and letterhead may change, but beyond the cosmetics not much is new.

All credit, then, to one enterprise support body which this spring celebrates its 25th anniversary.

It’s an outfit that is well-known across Merseyside where it has provided valuable support for a range of small business start-ups driven by entrepreneurs who would otherwise struggle.

This business programme provides loans and support to young entrepreneurs rejected by traditional funding sources. It was established against a backdrop of rising unemployment – remember we are talking the mid-1980’s, post civil disturbances across England.

Now, 25 years on, it is still helping those from disadvantaged backgrounds to get a foothold in the business world.

The scheme is designed to help 18 to 30 year olds who may be suffering from long term unemployment; ill-health or other social ills.

It makes available business loans for those who have a lack of formal education and qualifications; a previous drug- dependency or a criminal record.

In short, it helps in a number of challenging environments from which others may cover a mile very quickly.

It may not operate in the same hot-house style as Dragon's Den, but the organisation runs stiff assessments.

Applicants have to prepare a business plan and face a panel querying every full stop and comma it contains before they get their hands on the money they need to pursue their business dream.

Since it made its first loan in 1983, the organisation has helped more than 70,000 disadvantaged young people set up businesses through low-interest loans and mentoring. Much of its activity and success has been here in the North West.

Some 58% of the businesses this outfit supports are trading into their third year, which compares favourably to the national average.

And 93% of its supported businesses are either still trading or their creators still in employment after 12 months.

When you consider the difficult backgrounds from which these entrepreneurs have emerged, that’s quite a performance.

Take a bow, then, the Prince’s Trust.

Twenty-five years spanning a record to be proud of.

* MATT JOHNSON is managing director of Mando Group