A charity that helps to set up more than one new Scottish business every day is making an extra push next week to encourage young people in Lewis and Harris who are interested in becoming self-employed.

The Prince’s Scottish Youth Business Trust (PSYBT) has already kick-started over 150 young entrepreneurs in the islands and is on the look-out for more. To this end, a Business Start-up Awareness Evening will be held in "An Lanntair" in Stornoway on Thursday 22^nd June, at 7:00pm. Young people are invited to go along and find out for themselves just how rewarding setting up their own business can be.

As well as being able to find out more about what's on offer through the PSYBT and other avenues of funding available locally, the key to the whole evening will be the opportunity to hear from up to five young (and not-so-young) people who have done it themselves. Most of them have had assistance from the PSYBT to set themselves up in business. A range of experiences will be portrayed, from the one-woman operation to a one-man operation which started small but is still growing today, many years later.

Anyone from the Butt to Rodel who thinks they may want to set up their own business is welcome to come along and learn some more. Advice about other sources of funding will also be available on the night.

In the Western Isles, the PSYBT is administered through the Comhairle Nan Eilean Siar Business Development Service, based in North Dell, Ness. Commenting on the Awareness Event, Regional Manager, Domhnall MacDonald said:

"The idea is to give people a flavour of what it is like to set up in business, from those who have done it themselves. People don't even need to be living here at present to take advantage of the available opportunities. This event was timed partly to coincide with the students from the area currently coming back home for the summer break."

The PSYBT Regional Chairman is Lochmaddy Councillor Donald MacLean, who is also chairman of the Comhairle's Development Services Committee. He said:

"This event is a fantastic opportunity for any young person aged from around 16 through to 25, who wants to know more about setting up their own business. They will be able to hear 'from the horses mouth' about the experiences of other people who have already been through the system and are now running successful businesses of their own."

He continued:

"We hope very much that this evening will be a success and we will be holding a similar event in the Uists later on in the summer."

The PSYBT was established in 1989 by HRH the Prince Charles, Duke of Rothsey, to help young people aged between 18 and 25 fulfil their dream of working for themselves. The Trust provides seedcorn finance and professional support for young people, no matter who they are or where they come from and has particular concern for the disadvantaged.

The PSYBT process is a simple one. The key, however, is that it must be driven by the desire and ambition of the young people themselves. From the very initial enquiry, help is at hand to help applicants compile a Business Plan, suggest additional sources of support and finance and generally prepare the young person for the meeting with the local PSYBT Panel, who make decisions on awards. This might take the shape of a loan of up to £5,000 or, in certain cases, a grant of up to £1,000.

The Trust provides a package of support, both pre and post-start, to ensure that the fledgling businesses have the best possible chance of success. Every successful applicant gets the benefit of hands-on support, Book-keeping training and up to ten "Aftercare" visits over a two-year period, from a trained and experienced Business Adviser.

Since the PSYBT began in the Western Isles 10 years ago, over 160 young people have started 134 businesses. Every young business gets the backing of an experienced business professional to advise and support the young business during the first two critical years after start-up. This is seen as one of the outstanding features of the system and the reason there is such a good survival rate for PSYBT-backed businesses. Of those supported in the Western Isles, 92% have traded beyond one year and 69% beyond three years.

For further information about the Awareness Event, or about the PSYBT in general, contact: