Support for starting a business

Is your child considering setting up their own business? Have a look over the benefits of self-employment vs. employment below to help them decide if it’s a road worth taking Self employment vs. employment | The Prince's Trust (princes-trust.org.uk).

The Prince's Trust has a variety of information and an opportunity to join their free Enterprise programme which equips 18 to 30-year-olds with the tools, skills and confidence they need to become their own boss. Please don’t let age stop you from making contact with The Prince's Trust. The Prince’s Trust helps people aged 11 to 30 to build confidence, get a job or launch a business to help them to make their best next step. It’s always worth having a conversation and telling them what your interests are. Help your child to make that call! They are a great team with a huge range of opportunities available for you all young people.

Let's get down to business

Check out The Prince’s Trust Enterprise programme and click the link below to check out some of The Prince's Trust’s hottest business tools and resources that will help make your child’s enterprise a big success. From business plan templates to marketing tips and videos, they've got everything you need in one place. Business tools | The Prince's Trust (princes-trust.org.uk).

There are many home educated young people that have gone to be highly successful in business.

Some keywords for business and an entrepreneur’s checklist: 

Entrepreneur: A person who launches a new business and takes responsibility for it (An entrepreneur can be defined as a person with the ideas, skill, commitment, risk taking abilities and passion to establish and maintain a successful business).

Self-employed: A person who works independently of a company and is responsible for finding and managing their own work.

Business Plan: A document that sets out what the business is and shows how the managers of that business are planning to make it successful and profitable.

Profit: The amount of money made after all the expenses have been paid.

Pitch: To promote a product or an idea to someone else – in this case people who might invest money in a business idea.

Unique Selling Point: Something special about a product which makes it different to all similar products.

Retailer: A person, shop or business that sells directly to the public.

Enterprise: A business.


Entrepreneur’s Checklist

  1. Passion and drive: will your idea keep you up at night and do you care enough to make it happen
  2. Focus and determination: you don’t need to be particularly clever or skilled to start a business – but you do need to be driven and determined to achieve your goals
  3. Innovative flair: not in terms of artistic flair, more imagination
  4. Hard work: you have to be able to put in the hours and be able to multitask a variety of areas regardless of business idea
  5. Listening: you have to be interested enough in people to want to put the customer first and listen to them and what they want
  6. USP (unique selling point): if you don't believe in your product others won't. Research like minded business and be aware of your competitors. It’s about always looking over your shoulder and being ahead of the game to gain the competitive advantage.

See Skills Builder Homezone to assist your development further.

Watch the The Platform Project video which explains all about how young people can develop their skills to launch their future career or business.

For more information about The Platform Project youth enterprise workshop please contact them here.

Also, look out for Young Enterprise workshops for home educated young people on our events page.

Key tools

Overview
Resources