Business pioneers may secure a £5,000 award if their enterprise captivates Professor Green
Young entrepreneurs aged between 18 and 30 in the UK have the opportunity to apply for the Professor Green Young Entrepreneurs Fund, a new initiative aimed at providing vital funding and mentorship to budding business owners.
The fund, launched in partnership with Simply Business, offers a total of £50,000 to ten successful applicants, along with six weeks of tailored business support. Three runners-up will also receive one-to-one mentoring from Harpreet Kaur.
Applicants must be UK residents with a viable business or a strong business idea. They need to complete the online application form on the Simply Business Young Entrepreneur Fund webpage, ensuring their entry meets the judging criteria, which include the uniqueness of their business, its viability, market demand, growth ambitions, and evidence of innovation.
The application process evaluates the value of the product or service, business viability, demonstrated demand, and a clear plan for using the £5,000 grant and mentoring support. Successful applicants will be contacted by email by 20th November.
According to the latest statistics, over a third of today's young people are making money through side hustles and other part-time money-making schemes. Moreover, three quarters of young people aged between 16 to 19 dream of starting their own business as an adult. However, for 51% of these budding entrepreneurs, their main obstacle to starting a business is a lack of funding.
The initiative, according to Manderson, matters as it gives people the backing they need to bet on themselves, which in turn helps support local communities. Manderson added, "Not everybody needs a degree to be successful - but you do need belief, support, and a chance."
Julie Fisher, UK chief executive of Simply Business, echoes this sentiment, stating that the initiative is essential for providing backing to those who want to bet on themselves, supporting local communities.
The judges for the fund include Manderson, Harpreet Kaur, Julie Fisher, and Rebekah Sun. The deadline for applying for the Young Entrepreneur Fund is midnight on 9 October.
The fund is named after Professor Green, who started out with "No grades, no safety net, just a lot of graft and figuring things out as he went." Green's success story serves as an inspiration for many young entrepreneurs, demonstrating that with belief, support, and a chance, anyone can achieve their dreams.
[1] Source: https://www.simplybusiness.co.uk/knowledge/articles/2021/09/professor-green-young-entrepreneurs-fund/ [3] Source: https://www.simplybusiness.co.uk/knowledge/articles/2021/09/professor-green-young-entrepreneurs-fund/
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