Focus
The Prince’s Youth Business International launches as The Prince of Wales’s 20th charity
28th August 2008
The Prince’s Youth Business International has become an independent charity, and the 20th organisation to join The Prince’s Charities.
The Prince’s Youth Business International (YBI) is an international network that helps disadvantaged young people to become entrepreneurs by providing business mentoring and funds.
To date, the network of 38 programmes has helped create over 90,000 entrepreneurs in countries from China to Canada and from Scotland to Sri Lanka, providing total employment for hundreds of thousands of others.
Every 88 minutes, a new entrepreneur is set up by the YBI network.
“Tackling youth unemployment is a major issue for the world and as over 80% of all new jobs created are in small and medium enterprises, supporting young entrepreneurs is a vital step towards tackling unemployment,” said
Andrew Devenport, Chief Executive Officer of The Prince’s Youth Business International. “We have some very ambitious growth plans to help meet the demand for support for young entrepreneurs, and we are delighted to become an independent organisation under the Presidency of The Prince of Wales.”
Youth Business International has been operating as part of The Prince of Wales International Business Leaders Forum since it was set up in 1999. By bringing together a number of separate initiatives around the world, Youth Business International is able to improve efficiencies, share expertise and increase the capacity for local organisations to help potential entrepreneurs realise their ambitions.
“Supporting young people so they can realise their dreams in starting and growing their own businesses is a critical part of local economic development and part of the solution to youth unemployment,” said Adrian Hodges, Managing Director of The Prince of Wales International Business Leaders Forum (IBLF).
“IBLF has hosted The Prince’s Youth Business International during much of its formative life and now we are delighted that it is able now to form an independent organisation, but one which will continue to be strongly affiliated to IBLF.