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From | Monday 10 December 2018

Business fund offers grants of up to £1,000 for people aged 21 and under in and near Hull who need support to make their ideas happen.

The 500th young entrepreneur has been helped to start a new business by the John Cracknell Youth Enterprise Bank.

The business fund offers grants of up to £1,000 for people aged 21 and under in Hull, the East Riding, Ryedale and Scarborough areas who need support to make their ideas happen.

It has allowed young people to buy items including computers, websites, photography kit, bicycle repair tools, chocolate-making equipment and dance costumes.

Councillor Daren Hale, Deputy Leader of Hull City Council, said: “I am pleased to hear that Hull’s Youth Enterprise Bank has supported its 500th enterprising young person.

“As a local authority, we have a commitment to the micro business community in general through our support for Micro Biz Matters Day 2019 and youth entrepreneurship, in particular through various enterprise skills programmes and youth enterprise programmes such as Making Changes For Careers, whose participants can apply for Test Market Grants, as well as sponsoring Global Entrepreneurship Week and supporting Hull’s enterprise skills programme Make £5 Blossom.”

Maureen Foers OBE, president of John Cracknell Youth Enterprise, said: “Young people who set up in a business are just like any other person that does apart from the fact that there is a tendency for organisations and large businesses not to take them seriously yet, but they, like all micro businesses, are playing a vital role in ensuring that our economy turns the corner.

“Britain’s micro businesses in general and younger entrepreneurs are almost twice as optimistic about the future growth of their business compared to older peers. In a nutshell, it’s not always about high growth and expansion for young people, it’s about enjoying what they are doing and many are wanting to put back into their community, not because it’s the popular thing to do but because it’s the right thing to do. For that reason, I am pleased that so many young people have benefitted from the John Cracknell Youth Enterprise Bank.”