Over a hundred young entrepreneurs, who decided to start a micro-business without any sustainable growth funding, have been identified with creating over 2000 jobs in Scotland and generating a combined turnover exceeding £157million.
The research, which has been commissioned by the Prince’s Scottish Youth Business Trust (PSYBT) to identify its ‘Top 100 Best Performing Businesses in Scotland,’ shows youth enterprise in Scotland is having a demonstrable positive impact on Scotland’s economy, not least in creating wealth and employment in local communities.
According to the research, which is sponsored by The Royal Bank of Scotland Group, and independently verified by Strathclyde University’s Centre for Entrepreneurship, 71 percent of businesses have been trading for more than five years; 47 percent have been trading for over ten years; and 11 percent have been trading for over 20 years.
Commenting PSYBT chief executive Mark Strudwick said, “These are exceptional individuals who had the dream to start their own business; came to PSYBT as lenders of last resort to get crucial funding; and through their efforts and determination, and the encouragement of our volunteer network, have gained the confidence and skills to make their business flourish and prosper.
“The success of these businesses demonstrates what can be achieved from small beginnings and why it’s so important for funding institutions and business support organisations to do everything they can to reduce the hurdles for young people who want to enter what can often be an alien and challenging environment.”
Gordon Merrylees, Regional Managing Director of RBS said, “RBS is committed to helping young entrepreneurs at every stage of their journey. We want to ensure that young people are in the best possible position to achieve their ambitions, whatever their background, and we are proud to have worked with PSYBT for the last 23 years. This makes sense because it is good for the young people, good for their communities, good for the economy and ultimately good for business.”
To view the 100 best performing businesses, see below.
|Celebrating 100 Best Businesses.pdf||599.59 KB|