The Prince’s Trust and Ulster Bank launch £5 million grant fund for young entrepreneurs affected by coronavirus

The Prince’s Trust and NatWest Enterprise Relief Fund is available to entrepreneurs aged 18-30 across the UK, who can apply for grants and tailored support.

Grants can be used to maintain core business operations during the crisis, as well as meet any existing financial commitments, such as paying for essential equipment or settling invoices from suppliers.

In conjunction with these grants, the initiative will also offer one-to-one support and guidance to applicants who need it.

One young entrepreneur who will be applying for a grant is Sarah Lavery (26) from Newtownabbey. Sarah set up her children’s entertainment business Dudes and Divas three years ago with support from The Prince’s Trust. Last year the business had its best year of trading yet, expanded its premises and Sarah’s achievements as a young entrepreneur were recognised when she won the Enterprise Award at The Prince’s Trust Awards in Northern Ireland.

Two weeks ago Sarah had to take the difficult step of closing the doors of her business for now and cancelling all events due to the coronavirus.

Sarah said: “I felt awful, like I was a failure and letting the children and families down who had parties booked with us. But it became clear that it was in the best interest of our customers and staff to close.

“I had always dreamt of running my own business and a few years ago I got in touch with The Prince’s Trust to see if they could help make it happen. I took part in the Enterprise programme where I was paired with an amazing mentor and offered a loan to help with set up costs.

“Dudes and Divas Entertainment is a unique children’s party venue themed like an enchanted garden with princesses, superheroes, fairies and pirates. Snow machines, bubbles and candyfloss machines add to the magic while a sensory room, wheelchair access and a disabled toilet mean that everyone is able to join the party.”

Sarah employs three members of staff and is concerned about cashflow during the time the business will be closed. She welcomes the announcement of the The Prince’s Trust and NatWest Enterprise Relief Fund.

She added: “This scheme gives me hope that there are organisations trying to support young entrepreneurs through this difficult time. If I was successful in applying for a grant I would use the money to help pay for the essential ongoing costs of keeping the business going at the minute such as rent and bills.

“I’m very lucky to have benefited from the support of mentors during my business journey. Having the support of someone to turn to who understands business has been so important and has opened so many doors in terms of networks. Especially at a time like this it is so helpful to have a network of people you can contact who are experiencing the same thing.

“I’m trying to stay positive and use this time to develop our website and plan for the future to make sure our business is strong when we reopen.”

To be eligible, businesses must have started up in the last four years and be run by someone aged 18 to 30. Young people who are in the process of starting a business and don’t have any other source of income during the crisis are also eligible to apply for a grant. To apply for funding and support from The Prince’s Trust and NatWest Enterprise Relief Fund visit https://www.princes-trust.org.uk/about-the-trust/coronavirus-response/enterprise-relief-fund

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