The Welsh Government will support 1,200 young people to start their own business as part of plans to foster a new culture of entrepreneurship among young people in Wales, with a fund of £5m over the next three years.

The Young Person’s Guarantee will provide everyone under 25 in Wales with the offer of work, education, training, or self-employment.

The investment is included in the £20.9 million a year commitment to extend the hugely successful Business Wales service beyond the end of EU funding in 2023.

Specialist support will be provided via:

• a new Young Person’s Start Up Grant of up to £2,000 per business. This will support 1,200 young people that are unemployed, left education or training in the early stage of business to become self-employed.
• pre and post start up support for one year, designed to help individuals overcome any barriers to starting a business, including one-to-one business advisory support, entrepreneur mentoring, business planning and financial management.

Find out more here

Thinking of starting a business? UKFT Rise is a free-to-join community of early-stage (under 3 years trading) fashion and textile businesses looking to build a network of supportive like-minded people. We also welcome anyone who is thinking of starting a fashion/textile company in the near future. (Note: these companies must be selling a product).

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