THE PRINCE’S TRUST AND NATWEST LAUNCH TOMORROW’S BUSINESS AWARDS IN WALES

Youth charity The Prince’s Trust Cymru is launching a new award to help the young entrepreneurs they’ve supported in Wales take their businesses to the next level.

Over the past ten years, The Prince’s Trust has supported 509 businesses in Wales and The Trust is now calling on these businesses to enter The Tomorrow’s Business Awards, supported by long-term partner NatWest.

The Awards will celebrate the positive impact starting a business can have on an individual, their community or to sustainability issues and the environment.

Who can enter?

Businesses in any field including technology, creative industries and those who are focused on improving the environment, which have received start-up support from The Prince’s Trust over the last 10 years.

What will they win?

Three winners will each receive £3,000 from NatWest to invest in their business, a one-to-one mentoring session with one of the following: Lloyd Dorfman (founder of Travelex and Chairman of The Prince’s Trust), Steve Rowe (CEO of Marks & Spencer) or Claire Locke (Co-founder, Artigiano) alongside business-boosting workshops with industry experts.

How do they enter?

Everything you need to know about the awards including an online entry form can be found at www.princes-trust.org.uk/tomorrowsbusiness

The Awards will be launched at the Lambeth Palace Summer Fayre on 28^th June 2016 where Prince’s Trust Chairman Lloyd Dorfman and NatWest’s Managing Director of Business Banking Marcelino Castrillo, will officially open the awards for entrants. Also in attendance will be Rob Law of luggage company Trunki who were supported by The Trust and who are now celebrating their 10^th anniversary.

Phil Jones, Director for The Prince’s Trust Cymru, said: “The Tomorrow’s Business Awards are designed to showcase the talent and innovation of young people who have set up businesses with help from The Prince’s Trust. I have seen firsthand the positive effects of the Enterprise programme, not only for the young entrepreneurs but also in their local communities and economies. These Awards want to recognise that and help those businesses to take their next step.”

A recent evaluation of the Enterprise programme found that businesses started with funding and mentoring support from The Trust are more likely to survive than those who go it alone. The research shows that 73% of Trust-supported businesses continue to operate into their third year, compared with the national figure of 61%.  The figures demonstrate the effectiveness of the programme which creates a real and lasting difference to the lives of thousands of young people across the UK.

Marcelino Castrillo, Managing Director of Business Banking at NatWest, said: “Businesses which look to have a positive social or environmental impact are so important, both to the communities around them and the country as a whole, so NatWest is very proud to support The Tomorrow’s Business Awards. These businesses deserve to be recognised so I would encourage any Prince’s Trust supported business to enter. ”

Currently there are 621,000 16 to 24 year olds still struggling to find a job in the UK. The Prince’s Trust and NatWest are urging more young people to seek support and consider setting up their own business to break out of unemployment.

With the help of NatWest, the Enterprise Programme has been helping young people start up in business since 1983 and has supported more than 80,000 new ventures to date. Well known businesses which began with help from The Trust include household names Dynamo and kids suitcase business Trunki.

To enter, visit www.princes-trust.org.uk/tomorrowsbusiness – competition closes on 30^thAugust, with winners announced in September.

Youth charity The Prince’s Trust helps change young lives. It works with 13 to 30-year-olds who have struggled at school, have been in care, are long-term unemployed or have been in trouble with the law. Three in four young people helped by The Prince’s Trust move into work, training or education.