Youth Business International Awarded Global Entrepreneurship Week

September 5th, 2011 – Youth Business International (YBI) has emerged as the winner of the process to take on Global Entrepreneurship Week.

The charity – one of the 20 that HRH The Prince of Wales is president of – was the unanimous choice of the panel convened by Enterprise UK.

The Board of Trustees of Enterprise UK initiated an open process with the goal of transferring this charitable asset to a charity with compatible objects, in line with Charity Law which states that the trustees should act in the interests of the charity (EUK). These included a commitment to inspire young people to both take an interest in enterprise and to stimulate them to have a go at making their ideas flourish.

Annika Bosanquet, the Chair of EUK and who also chaired the panel for Enterprise UK Asset Transfer said:

“YBI has an influential network within the UK and overseas and is dedicated through various initiatives to ensuring that young people everywhere are given the support to become more enterprising and start their business, and encouraging communities to enhance their economic sustainability.

“With excellent governance and experience in campaign management, the assurances given by YBI both in the application, presentation and preparation for taking over this asset impressed the Trustees of EUK. In addition, it has a good working relationship with the Kauffman Foundation and already has 10 global members hosting GEW, including Canada, who has been one of the winners of Country of the Year. YBI is well known for its successful YBI Entrepreneur of the Year competition and respected within the enterprise field.

“There was no shortage of interest surrounding this asset after invitations for expressions of interest for GEW were widely distributed through a variety of channels.”

Following a request for expressions of interest the panel met on July 21st to consider written submissions and to shortlist the finalists. The finalists presented on July 28th . The Board elected to support the panel’s recommendation at their subsequent board meeting on August 3rd . Throughout August, due diligence was carried out the successful conclusion of which has resulted in this transfer.

Finalists each provided presentations followed by Q&As with the panel. Detailed guidance was provided to all interested parties through the Enterprise UK website.

“As one of the world’s largest networks dedicated to helping young entrepreneurs create their own businesses, we are delighted to be the new national host for Global Entrepreneurship Week in the UK,” said Andrew Devenport, Chief Executive of Youth Business International.

He added, “With the majority of new jobs being created by companies less than five years old, we believe that it is essential to find new ways of encouraging entrepreneurship. That’s why the theme in 2011 will be ‘Starting tomorrow’s business today’, and we look forward to working with the government, businesses and other non-profit organisations to make this happen in the UK.”

- Ends -

Further information

Annika Bosanquet, Chair of EUK
c/o info@enterpriseuk.org
Tel: 020 7395 8117 or 07973 628 287

Steve Metcalfe, Communications Director of YBI
Steve.Metcalfe@youthbusiness.org
T: +44 (0) 20 3326 2079
www.youthbusiness.org

About Enterprise UK:

Enterprise UK is a charity which aims to give people the confidence and ambition to be enterprising. EUK was founded as a campaigning organisation in 2004 by the British Chamber of Commerce, the Confederation of British Industry, the Institute of Directors and the Federation of Small Businesses.
www.enterpriseuk.org

About Global Entrepreneurship Week (GEW)

Global Entrepreneurship Week is a worldwide movement of entrepreneurial people, with millions unleashing their enterprising talents and turning their ideas into reality. The 2010 event involved over 7 million people taking part in over, 38,000 events in 104 countries.

This year, GEW will run between 14th – 20th November in over 115 countries. In the UK, it is a countrywide campaign to bring together the hundreds and thousands of events that happen in the week to engage the spirit of entrepreneurialism.
www.gew.org.uk

About Youth Business International (YBI)

Founded in 2000 by HRH The Prince of Wales, Youth Business International (YBI) is a global network of independent non-profit initiatives helping young people start and grow their own business and create employment. YBI supports under-served young entrepreneurs with a combination of training, access to capital, mentoring, and other business development services. YBI members have helped over 100,000 young people to create their own business and generate employment. An estimated 70% of these businesses are still trading after three years, with many going on to create significant levels of employment and further benefits for their communities.
www.youthbusiness.org