'Million makers' to give £500k boost to young entrepreneurs

Date: 13th March 2009

Britain's young business talent has been handed a lifeline amid the recession with a £500,000 fundraising programme.

Under the Prince's Trust's Million Makers scheme, over 50 organisations - including Axa and Royal Bank of Scotland - will raise money for budding entrepreneurs through a series of charity events.

The trust's Business Programme will then funnel the cash through to the UK's young businessmen and women.

Chief executive of the Prince's Trust, Martina Milburn, said: "Companies across the UK are still determined to support young entrepreneurs, despite Britain's economic woes.

"Nurturing entrepreneurial talent is now more important than ever. We cannot let the Sir Alan Sugars of tomorrow be thwarted by the recession."

According to the Prince's Trust, the Business Programme has supported over 70,000 young business people over the past 25 years.

Up-and-coming sole traders were given a boost last month when HM Revenue and Customs announced a series of new videos designed to help business start-ups with taxation matters.