News Story

A programme which assists young people in starting up businesses will “help create opportunity” for the next generation, the First Minister has said.

John Swinney will announce the opening of applications for the First Minister’s Start Up Challenge while on a visit to Juicy Health Club in Glasgow on Monday.

The scheme delivered in partnership with the King’s Trust and Dechomai is open to young people aged 1830 from disadvantaged or under-represented backgrounds.

Mr Swinney said: “Scotland has a renowned history of innovation and enterprise, and young people are our greatest asset for the future.

“My Government will do all we can to help them to achieve their goals, make the most of their talents and realise their ambitions.

“This programme will support young people across the country to get started in business and bring their ideas to life, with a focus on those from disadvantaged and under-represented backgrounds.

“This will help create opportunity for the next generation and support the businesses of tomorrow.”

Around 20 participants will be selected for a six-month accelerated entrepreneurial apprenticeship where they will be offered support, funding and hands-on experience, helping to get their business ideas up and running.

Participants will receive a £500 “test your business” grant, with those ready to launch eligible to apply for a £5,000 start-up grant.

At the end of the programme, one winner will be awarded £30,000 to dedicate a full year to developing their business.

Mr Swinney said: “Supporting entrepreneurship will not only help young people build better futures for themselves and their families, it is also key to boosting economic growth.

“Business success is the foundation of a strong economy, which has broader benefits for all of society helping equip us with the means to go further in supporting people with the cost of living and improving public services.”