The number of 16 to 24-year-olds out of work today is almost one million, according to the latest figures from the Office for National Statistics. One in every five young people are currently out of work and youth unemployment now accounts for 40% of total unemployment in the UK.
FranchisingWorks is already working to reduce unemployment in Greater Manchester by encouraging the those without work to explore franchising as a route into self-employment. The Programme is seeking to target youth unemployment specifically by working with schools, colleges and universities, as well as leading youth organisations such as the Princes Trust.
Simon McNeill-Ritchie, Managing Director of FranchisingWorks, says: ‘Franchising offers an ‘apprenticeship into entrepreneurship’ providing all the training and mentoring young entrepreneurs need to get into business for themselves, but not by themselves. We can also help young people with limited access to finance of their own, through our innovative Licence Fund.’