19 May 2020
Initiative offers self-employed young people affected by the coronavirus outbreak flexible access to grants and business support
The Prince’s Trust and Ulster Bank have launched a £5 million fund to help young entrepreneurs across the UK to keep their businesses afloat during the coronavirus crisis.
The Prince’s Trust and NatWest Enterprise Relief Fund will offer grants to 18 to 30-year olds across the UK who are self-employed and/or running their own business.
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.
How the grants can be used
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 crisis.
To be eligible to apply for the Enterprise Relief Fund, you must be a business owner aged 18 to 30, who set up their business in the last four years and don't have any other source of income during the crisis.
First published 19 May 2020