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Prime- Supporting Mature Enterprise

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by Startacus Admin

It goes without saying that here at startacus.net, nothing makes us jump for joy more than hearing about innovative self starters who have taken the proverbial leap and started their own business…it just makes us happy.PRIME- The Prince's Initiative for Mature Entreprise

We are also huge fans of the ‘underdog’ which is why we are especially excited and inspired when we are introduced to folks who provide much needed assistance to people who may face particular obstacles in their startup journey. In recognition of this we reckon it’s about time that we give a much deserved shout-out to a brilliant national charity called PRIME, that has made it its life’s work to help people for whom starting a business can be particularly challenging- the over 50’s.

It all began when HRH The Prince of Wales found himself in regular receipt of letters from this age group describing how difficult finding new employment opportunities can be when you are of ‘a certain age’, and how they felt discriminated against because of their seniority. Frustrated by this apparent injustice and in an effort to provide help to people who find themselves in a similar situation he founded PRIME (The Prince's Initiative for Mature Enterprise).

We spoke to PRIME’s development manager Nicky Templeman who told us a bit more about the problems which PRIME is trying to address.

“We are living longer and the state pension age continues to rise, which means that we are all going to have to work longer to sustain ourselves later on in life. However, there are more and more older people who are struggling to find work and they are more likely to be without a job for a long time, more so than the other age groups.

“Not only this is a criminal waste as the over 50s’ have a wealth of skills and experience that could be positively benefiting the economy but older people also have significant responsibilities such as paying the mortgage or looking after families”

Prime seeks to address these issues by helping people over the age of 50, who are unemployed, not in full time work or facing the threat of redundancy, to start their own business as a viable route back into sustained employment and financial independence

PRIME- The Princes Initiative for Mature EntrepriseSo what help can they give?

Rather a lot as it happens. Before you start your business they have an extensive support network in place including;online resources and introductory workshops, business training which provides essential business skills, such as managing finances, as well as training on how to write and implement a business plan.

But PRIME isn't just about starting a business, it's about ensuring continued success and long term sustainability - which it helps achieve through providing services to their clients after their business has been established. The charity facilitates business clubs, networking events, master classes in areas such as social media and clients can also be matched with an experienced business professional to mentor them.

Their track record certainly speaks for itself- since the charity’s creation in 2003, they have provided direct support to over 10,000 aspiring mature entrepreneurs with all kinds of businesses from boutique shoe shops to construction firms.

You can find out more about the help that they can offer by visiting the PRIME website where you will find loads of information and plenty of inspiring startup stories.

You may also like to check out these recent posts from our ‘Overcoming adversity when starting a business’ as both Bob and Janet were introduced to startacus by PRIME and received a great deal of assistance from them.

Bob Pembroke- Who began his business late in life whilst dealing with total blindness.

Janet Morgan- Who started her business Glitterwitch whilst living with a debilitating autoimmune disorder.


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Published on: 28th March 2014

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