Young Enterprise Scotland Secures £285,000 Lifeline from Scottish Government
Young Enterprise Scotland has been granted a financial lifeline, with the Scottish Government stepping in to provide £285,000 in funding to ensure the charity’s continued operation. The announcement was made by Deputy First Minister and Economy Secretary Kate Forbes, following concerns that the organisation was at risk of closure after losing a significant portion of its grant funding.
Last week, Young Enterprise Scotland warned that without additional support, it would be forced to close, putting 31 jobs at risk and potentially ending students’ access to the SCQF Level 6 qualification in entrepreneurship. The charity has been a key player in delivering enterprise education across Scotland for over 30 years.
Addressing Parliament, Forbes clarified the government’s position: “I will be very clear: funding for Young Enterprise Scotland has not been withdrawn. Since 2022, the Scottish Government has advised Young Enterprise Scotland, along with other stakeholders, that all future entrepreneurial education programmes will move to competitive funding – that approach is consistent with other entrepreneurial funds and is in the DNA of entrepreneurship.”
Forbes explained that while Young Enterprise Scotland was not initially successful in securing competitive funding due to strong applications from other organisations, discussions had already taken place regarding additional support. She confirmed: “I have approved the requested £285,000 to run into this year the two programmes that were previously funded by the Scottish Government.”
This funding will cover costs from April 2024 through March 2025, ensuring the organisation’s immediate viability. Forbes concluded: “Young Enterprise Scotland has confirmed that this will ensure the organisation’s ongoing viability.”
The charity supported more than 18,000 school and college students last year through its various enterprise programmes, including its flagship Company Programme. Many entrepreneurs have credited these initiatives with setting them on their business careers.