OF the almost 10,000 businesses started by young people with the help of a Scottish charity, hundreds could be described as having something to do with the media.
Whether it’s the PR and marketing firm, DADA, or corporate video makers, Magi Films, or publishing consultants, Editions Publishing, media businesses have figured highly in the work of the Prince’s Scottish Youth Business Trust.
The trust – founded in 1989 by HRH The Prince Charles, Duke of Rothesay, as part of a family of charities aimed at helping young people – assists around 500 new businesses start up every year.
Such a staggering figure is achieved by a combination of staff, based around 18 regional offices, plus low-cost loans and business advice that stretches well beyond the business’s start-up date; in fact, during the first, no doubt anxious, two years in operation.
An army of volunteers adjudicates on applications for PSYBT backing and provides the much valued after-care. The loans that are repaid are ploughed back into the organisation, to assist more businesses to be set-up.
Some businesses are fortunate to receive grants; others have reached a point in their evolution where they need help expanding, hence the PSYBT Growth Fund, offering loans.