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Last Updated 3/10/2009 9:32:13 AM
About PSYBT
Our Aim
The aim of the PSYBT, which reflects an enterprise flavour in the charitable nature of the work, is to provide essential finance and professional support to young people in Scotland aged 18-25, whoever they are and wherever they come from, so that they can set up and run their own businesses. The Trust has particular concern for the disadvantaged.
How We Operate
The PSYBT is firmly established throughout Scotland in 18 Regions. Regional Managers, located with the Business Gateway, are responsible for organising pre start training and aftercare support for young people helped by the PSYBT. Regional panels of volunteers interview all applicants and make the decisions on awards. The Head Office in Glasgow sets policy, establishes procedures, directs training, manages most administration centrally and devolves operational matters to the 18 Regions.
Ambition - Drive - Determination
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. The PSYBT will identify and arrange the training required, often providing one to one counselling where an appropriate course is not available. The PSYBT will help with the business plan, suggest additional sources of support and finance and generally prepare the young people for the panel interview they all must attend. Most are successful at this stage and, to date*, PSYBT has assisted 10,603 young people who have started 8,673 businesses - 82% have traded beyond one year and 64% beyond three years. Over £31.6m has been awarded, 89.2% of which is in the form of low cost loans and 37% of the young people assisted are women. Scottish turnover is anticipated to increase by £22.6 per annum.
Business Mentoring
The aftercare support programme is provided by trained and managed business counsellors. They are a mix of full time professionals from the Business Gateway, volunteer advisers giving up one day a month from their normal employment and some retired executives who simply want to put something back into the community. They work within a structured system, in local groups, use common documents and derive great satisfaction from it. This method also has the advantage of managerial visibility from the Head Office.
The Future
The PSYBT has grown rapidly from its early days and now works towards an annual target of 600 businesses a year, manages a loan fund now over £3 million and provides aftercare to more than 8000 businesses. It is now the most effective, efficient and exciting Youth Enterprise Development organisation in Scotland. It believes that in enabling young people to make a significant contribution to their communities it also enables local communities to invest in youth and enterprise. It is well placed to lead the country in the development of an enterprise culture for young people.
*As of 09 March 2009 2006 Annual Report 2007 Xmas Card 2007 Xmas Card HRH eCard
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To view a selection of our Annual Reports, please click here |
 All our Annual Reports are created in PDF format. In order to view this type of file you will need a PDF Reader installed on your machine. You can download a PDF Reader from Adobe Systems by clicking on the image to the right.
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PSYBT Annual Reports - To view a report, please click on one of the images above
eCard sent to HRH The Prince Charles, Duke of Rothesay for his 60th Birthday from PSYBT
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HRH The Prince Charles, Duke of Rothesay
Sir
HAPPY BIRTHDAY!
Your Royal Highness will recall that on your 40th Birthday, you launched a major fundraising effort to support the development of The Prince’s Trust and the formation of The Prince’s Scottish Youth Business Trust.
We have relished the challenge of being self-employed –
benefitting enormously from your very clear vision and support.
To celebrate Your Royal Highness’s 60th Birthday, we wanted to demonstrate the wide range of businesses supported:
// from lifestyle to manufacturing
// from traditional crafts to high tech
// from design to trades
// from innovation to growth
Your Royal Highness will also be delighted to know that many of us are now volunteers for PSYBT and make regular donations to help support others like ourselves, who wish to take the self-employment route with the backing of your Trust.
The encouragement and support that we have received from PSYBT and Your Royal Highness’s leadership as a truly inspiring philanthropist has stimulated our determination to continue your good work, which is deeply appreciated by us all.
HAPPY BIRTHDAY!
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Since 1989 PSYBT has:
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// helped 10,200 young people to start 8,620 businesses
// invested over £31million into these businesses
// Over 600 volunteers across Scotland donate their time and skills to help young people.
// The top 60 businesses have a combined turnover in excess of £70million per annum and have collectively created almost 1,000 jobs.
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In the last year, we have:
// helped 665 young people to start up 559 businesses
// helped 23 young people in 20 businesses access growth funding
// arranged 2,660 aftercare visits to 760 businesses
// managed 1,848 loan accounts
The average cost of each start-up business was:
// £3,203 of funds invested/granted
// £2,315 support costs
// 82.5% of loan funding is currently being repaid.
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