A new course aimed at helping people from deprived backgrounds establish their own business has been hailed as a success.
The New Entrepreneur Scholarships (NES) have been championed a “stunning success” after a new survey reveals that 90 per cent of those completing the course had either set up their own business or were in the process of doing so.
The survey, by Manchester Metropolitan University Business School (MMUBS), shows that 60 per cent of respondents were currently running their NES generated business, 23 per cent were in the process of starting up and 7 per cent were in the planning stages.
The NES has been running for three years and is a partnership of the National Federation of Enterprise Agencies (NFEA), the Prince’s Trust and the Association of Business Schools.
The NFEA point out that start ups based in deprived areas are only a third as likely in deprived areas compared with the national average.
The programme aims to develop the business skills that many individuals lack in deprived areas, as well as provide mentoring and financial advice.
David Way, director of skills at the Learning and Skills Council, which helped fund the scholarships, said: “The programme is proving to be ground breaking in its approach to using self employment as a means of tackling social exclusion.
“It is giving individuals from the most deprived areas a real opportunity to develop their skills and successfully start their own business. This survey provides the information to build on the programme and develop the approach to help more potential entrepreneurs.”
For more information on the New Entrepreneur Scholarships click here.
