The Prince’s Trust launches new support for youth entrepreneurship in partnership with LDC

Youth charity The Prince’s Trust has today launched an extension of its Enterprise programme in partnership with LDC to help young entrepreneurs sustain and grow their businesses through the first three years of trading, recognising the important role they play in driving economic growth, fostering innovation and shaping the future of the UK economy.

The Prince’s Trust and LDC have worked together to design and develop Enterprise Advance; a comprehensive package of support designed to increase the help available to young entrepreneurs as they navigate the early years of running their business. Enterprise Advance is an extension of the charity’s existing Enterprise programme, which supports young people from all walks of life, including disadvantaged communities across the country, to launch their own businesses by equipping them with the confidence, skills and funding they need to do so.

LDC, the private equity investor that is part of Lloyds Banking Group, first partnered with The Prince’s Trust in 2019 to support the Enterprise programme and has so far helped almost 4,000 young people to turn their dreams into reality.

However, while the majority of businesses launched through the Enterprise programme are still trading, focus groups with Trust-supported entrepreneurs who launched businesses in 2020/21 revealed that many felt they could unlock latent potential and better sustain the growth of their business if they had access to additional tools and support. Help with finding and managing customers, digital marketing and accessing finance were cited as three of the most common challenges young business leaders face.

Through Enterprise Advance, young entrepreneurs can access a designated mentor, structured business reviews to track progress against targets and ambition, workshops and networking opportunities.

Kyle Frank set up his vegan skincare brand, Frank’s Remedies, with the support of the Enterprise programme in 2020. He wanted to help others who had suffered with skin conditions and with the support of The Prince’s Trust, has established a successful and growing business. Frank’s Remedies is now in its fourth year of trading, with retail listings in high street stores such as Superdrug and WHSmith’s, and is forecasting a turnover of £650,000 in 2025. Kyle is also an ambassador for The Prince’s Trust and has received additional support from LDC in the form of networking opportunities and business introductions.

Commenting on the launch of Enterprise Advance, Kyle said: “Starting a business is hard, but growing it is tougher. Enterprise Advance offers tangible support and resources that will be hugely valuable to young business leaders. It’s about more than just business; it’s about breaking barriers and giving everyone an even chance of success.”

Toby Rougier, Chief Executive of LDC, said: “Young entrepreneurs play a significant role in the UK economy, and it’s crucial that we equip them with the necessary tools, skills and funding to grow and sustain their businesses. These individuals are driving innovation, progress and improvements in society, and they’re our next generation of business leaders.

“We have more than 40 years of experience in helping management teams across the UK to drive growth and realise their ambitions, and our partnership with The Prince’s Trust extends that commitment to young entrepreneurs from different backgrounds.”