7 days ago
- Business
- Otago Daily Times
Entrepreneurs in the making to benefit from grant
More than 200 young Dunedin entrepreneurs will receive "life-changing" enterprise experiences and the knowledge needed to create their own business, following a major grant from the Ministry of Youth Development.
The Southern Youth Development Trust received $120,000 yesterday, to support 240 young people aged between 12 and 24.
Trust chairman Ben Sommerville said it would change the lives of a lot of young people in the city.
"In this economic climate, I think it's a really awesome opportunity for the rangatahi of Otago to be able to engage with a programme that will lead them into being able to engage with enterprise, and to be mentored.
"Speaking from my own personal experience, being a young person who has come through this programme, I think it's really beautiful to have the chance to further support and allow other young people to come through and gain lessons about who they are and the awesome impact that they can have on the world.
"It'll make a big difference to their lives."
At present, he said the trust was helping young people with a host of interesting projects, including running a jewellery businesses, setting up a business focused around health, and learning how to become a contractor.
Minister for Youth James Meager said the southern youth would be among 6375 nationwide who would benefit from the new funding which invests in their business potential, develops enterprise skills, and better prepares them for their future work environment.
The Southern Youth Development Trust was one of 11 community-based providers to receive a share of $1.5 million from the ministry.
Mr Meager said the grants came from three separate funds — the Introduction to Enterprise Fund ($475,000 total per annum), the Building Entrepreneurial Capital Fund ($725,000 total per annum), and the Developing Youth-Led Businesses Fund ($300,000 total per annum).
The Introduction to Enterprise Fund supports programmes focusing on essential skill-building, including financial literacy, digital, problem-solving, and communication skills.
The Building Entrepreneurial Capital Fund supports young people to acquire enterprise experiences and knowledge needed to create a business.
And the Developing Youth-Led Businesses Fund supports seed funding and mentoring to young people who have businesses that are ready to grow.
He said the government was focused on growing the economy for all New Zealanders, including its young entrepreneurs and emerging business leaders.
"This investment will enable promising young Kiwis to access financial support to develop essential skills like financial and digital literacy, learn how to create a business, and provide seed funding and mentoring to those with ones ready to grow.
"Youth enterprise is a powerful tool, supporting young people to discover their interests, build new skills, and work towards their future aspirations."
Mr Meager said the funding not only helped young people see themselves as job seekers, but as job creators and change-makers in their own communities.
"An investment in our young people is an investment in New Zealand's future."
"This will ensure the next generation of New Zealanders is supported in developing their business, entrepreneurial and workplace skills to grow the economy."
