Young entrepreneurs benefit from £1.8 million windfall

THE business leaders of the future are set to share in £6.6 million being earmarked to support small traders and entrepreneurs.

West Lothian Council's Business Gateway Plus, which provides support for young entrepreneurs aged 16 and over, will receive 1.8m of the European funding, which is being shared across Scotland.

Enterprise Minister Jim Mather said he hoped the money from the European Regional Development Fund (ERDF) would create more than 7000 jobs.

He said: "Scotland's businesses are the beating heart of our economy and pivotal to a strong and sustained economic recovery.

"The money supports projects with the potential to enhance local economies, build strong and sustainable economic growth and support the creation of thousands of new jobs.

"These are all worthy initiatives that can make a vital contribution to economic growth across Scotland."

Mark Strudwick, chief executive of the Prince's Scottish Youth Business Trust (PSYBT), added: "Providing the best possible support to young people to enable them to create and grow their own business is absolutely critical, particularly in the current climate.

"The younger generation do have entrepreneurial spirit, however, the opportunities to start up in business are fraught with very real challenges.

"PSYBT offers a package of support to any young person who is considering starting their own business and cannot secure funding elsewhere."