Young People

– Scottish Parliament written question – answered on 14th March 2011.

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Photo of Robin Harper Robin Harper Green

Question S3W-40190

To ask the Scottish Executive what steps it has taken to explore ways to establish a youth microcredit scheme.

Photo of Jim Mather Jim Mather Scottish National Party

The Scottish Government is very supportive of the Prince’s Scottish Youth Business Trust’s (PSYBT) Revolving Loan Fund. This provides young people with access to loans of up to £5,000 to set up in business and offers a valuable aftercare service to successful applicants from a large number of volunteer business people across Scotland. PSYBT is particularly concerned with creating opportunities for disadvantaged young people. In 2009-10 and 2010-11, the Scottish Government, through Scottish Enterprise, enhanced the resources available to PSYBT by investing £200,000 per annum in the Revolving Loan Fund. It has also recently successfully secured ERDF to provide a tailored package of coaching and mentoring assistance to 1,700 young people over the next three years.

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