Funding is being offered to help 18-30-year olds from across the UK, who are self-employed and/or running their own company, to keep their businesses afloat during the coronavirus crisis.
- Funding body:
- The Prince's Trust
- Maximum value:
- Application deadline:
- None specified
This programme is provided by The Prince's Trust, in partnership with NatWest Bank.
Objectives of Fund
The Prince’s Trust and NatWest have launched a £5 million grant fund for young entrepreneurs whose businesses have been affected by the coronavirus outbreak. The Enterprise Relief Fund aims to help 18-30-year old entrepreneurs keep their businesses afloat during the COVID-19 crisis.
In conjunction with cash grants, the initiative will offer one-to-one support and guidance to anyone who needs it and who may be worried about their future.
Entrepreneurs aged 18-30 who are not eligible for the fund but find their businesses to be affected by coronavirus can contact The Prince‘s Trust for support. Every young person who gets in touch will be offered personalised one-to-one support to connect with mentors or build their skills.
The programme has a total budget of £5 million. The initiative offers flexible access to grants and tailored business support. Levels of individual grants have not been specified.
Who Can Apply
To be eligible, businesses must have started up in the last four years and be run by someone aged 18 to 30. Young people who are in the process of starting a business and do not have any other source of income during the crisis are also eligible to apply for a grant.
Those who set up their business with support from The Prince’s Trust in the last four years are still eligible for the fund if they were aged 18-30 at the time they received this support.
Grants can be used to maintain core business operations during the crisis, as well as meet any existing financial commitments, such as paying for essential equipment or settling invoices from suppliers.
Additionally, grants will also support young people to diversify their business to respond to opportunities created by the crises.
How To Apply
There is no set deadline for applications.
Applicants can register their interest for grants and tailored support via an online form.
Useful documents & links
Addresses and contacts
For further information on how to obtain this grant locally, please contact the following:
The Prince's Trust
18 Park Square East
Tel: 0800 842842
Fax: 020 7543 1200
Email: [email protected]