If you're aged 18-30 and have a business idea that could change your life, The Prince's Trust Enterprise Programme might be exactly what you need. But with thousands of applications each year and limited funding available, knowing how to present your idea effectively can make the difference between success and disappointment.

Having worked with dozens of successful Enterprise Programme recipients, I've seen firsthand what separates winning applications from the rest. This guide shares those insights, along with the most up-to-date information about the programme for 2025.

What is The Prince's Trust Enterprise Programme?

The Prince's Trust Enterprise Programme is far more than just funding—it's a comprehensive support system designed to turn your business idea into reality. The programme combines financial support with intensive business training, ongoing mentoring, and access to a network of successful entrepreneurs.

Programme Highlights

Up to £5,000 in funding (mix of grant and loan)
4-day residential business course
12 months of dedicated mentoring
Access to Prince's Trust business network
Legal and financial advice

Eligibility Requirements 2025

The Prince's Trust has specific eligibility criteria that haven't changed significantly for 2025, but it's worth understanding exactly what they're looking for:

Age Requirements

You must be aged 18-30 when you apply. There's no flexibility on this—if you're 31, you're unfortunately not eligible. However, if you're applying as a business partnership, at least one partner must meet the age requirement.

Employment Status

The programme is designed for people who face barriers to employment or are unemployed. This includes:

Currently unemployed or in low-paid work (earning less than £16,000 annually)
Care leavers
Ex-offenders
People with disabilities or mental health challenges
Those from disadvantaged backgrounds

Business Idea Requirements

Your business idea must be:

Legal and ethical
Commercially viable
Something you're passionate about
Suitable for your skills and experience
Not already trading (pre-trading stage only)

Important: If you're already trading or have been trading in the past 12 months, you won't be eligible for the Enterprise Programme. However, The Prince's Trust offers other support options for existing businesses.

Funding Breakdown

Understanding the financial support available is crucial for planning your application. The funding structure combines grants and loans, designed to minimize your financial risk while ensuring you have skin in the game.

Funding Type	Amount	Terms
Grant	Up to £2,500	No repayment required
Low-interest loan	Up to £2,500	2% annual interest, flexible repayment
Total potential	>£5,000	Subject to business plan approval

The exact split between grant and loan depends on your circumstances and business needs. Generally, those from the most disadvantaged backgrounds receive a higher proportion as grant funding.

The Application Process: Step by Step

The application process is thorough but straightforward. Here's what to expect at each stage:

Stage 1: Initial Enquiry

Your journey begins with an initial conversation with a Prince's Trust adviser. This isn't a formal interview—it's designed to help both you and them understand if the programme is right for your situation.

Pro tip: Come prepared with a clear, one-minute explanation of your business idea. Practice this beforehand—it's often the first impression you'll make.

Stage 2: Explore Enterprise Workshop

If your initial enquiry goes well, you'll be invited to attend a free 'Explore Enterprise' workshop. This one-day session covers:

Business idea development
Market research basics
Financial planning introduction
Understanding your target customers
Legal considerations

Many people worry this workshop is another assessment, but it's actually designed to help you. Use it as an opportunity to refine your idea and ask questions.

Stage 3: Business Plan Development

After the workshop, you'll work with an adviser to develop your business plan. This isn't something you do alone—you'll receive guidance and support throughout the process.

Your business plan needs to cover:

Executive Summary: One-page overview of your business
Business Description: What you'll sell and to whom
Market Analysis: Who your competitors are and why customers will choose you
Marketing Strategy: How you'll reach your customers
Financial Projections: Realistic revenue and cost forecasts
Funding Request: Exactly what you need the money for

Stage 4: Panel Presentation

The final hurdle is presenting your business plan to a panel of experienced business people and Prince's Trust representatives. This 20-minute session includes a 10-minute presentation followed by questions.

Panel Success Tips

• Practice your presentation multiple times
• Prepare for obvious questions about competition and finances
• Bring samples or prototypes if relevant
• Show passion and commitment, not just profit potential
• Be honest about challenges and how you'll overcome them

What Happens After Approval?

Congratulations! You've been approved. But this is just the beginning of your Prince's Trust journey. Here's what comes next:

The Development Awards

Before receiving your main funding, you'll complete a 4-day residential course called "Development Awards." This intensive programme covers:

Advanced business planning
Marketing and sales techniques
Financial management
Legal and regulatory requirements
Networking with other entrepreneurs

Mentor Assignment

You'll be matched with a volunteer business mentor who provides guidance and support for at least 12 months. The quality of mentoring is consistently rated as one of the programme's most valuable aspects.

Your mentor will typically be someone who:

Has relevant business experience
Understands your industry or business model
Can provide objective advice and challenge your thinking
Offers encouragement during difficult periods

Funding Release

Your funding is typically released in stages based on achieving specific milestones. This might include:

Initial payment upon completing Development Awards
Second payment when you start trading
Final payment after demonstrating early progress

Common Rejection Reasons and How to Avoid Them

Learning from others' mistakes can significantly improve your chances. Here are the most common reasons applications are rejected:

1. Unrealistic Financial Projections

Many applicants present overly optimistic revenue forecasts without proper justification. Your projections should be conservative and based on solid market research.

2. Insufficient Market Research

Saying "there's no competition" is a red flag. Every business has competition, even if it's indirect. Show you understand your market and competitors.

3. Vague Business Model

Be specific about how you'll make money. Avoid phrases like "I'll sell online" without explaining your specific strategy.

4. Lack of Personal Commitment

The panel needs to see that you're fully committed to the business. Part-time commitment or treating it as a backup plan won't impress assessors.

Success Stories and Lessons

Let's look at some real success stories to understand what works:

Sarah's Sustainable Clothing Brand

Background: Sarah, 26, was unemployed after losing her retail job during COVID-19. She'd always been interested in sustainable fashion.

Business idea: Eco-friendly clothing brand focusing on upcycled materials.

What worked:

• Thorough research into the sustainable fashion market
• Clear explanation of unique selling proposition
• Realistic financial projections based on market data
• Demonstrated personal passion and relevant skills

Outcome: Received full £5,000 funding and now employs three people with annual turnover of £180,000.

Marcus's Digital Marketing Agency

Background: Marcus, 24, was a care leaver with some experience in social media management.

Business idea: Digital marketing services for small businesses.

What worked:

• Leveraged existing skills and experience
• Identified specific niche (local restaurants)
• Presented clear pricing strategy
• Showed understanding of client acquisition costs

Outcome: Built a client base of 25 businesses within 18 months, now considering expansion.

Alternatives if You're Not Successful

If your application isn't successful, don't give up. The Prince's Trust offers other programmes, and there are alternative funding options:

Other Prince's Trust Programmes

Get Started: For those who need more support before starting a business
Enterprise Accelerator: For existing businesses looking to scale
Young Entrepreneurs: Networking and development programme

Alternative Funding Sources

Start Up Loans: Government-backed loans for new businesses
Local Enterprise Partnerships: Regional business support
Crowdfunding: Platforms like Kickstarter or Indiegogo
Business Angels: Individual investors backing early-stage businesses

Final Thoughts and Next Steps

The Prince's Trust Enterprise Programme represents one of the UK's most comprehensive support packages for young entrepreneurs. The combination of funding, training, and mentoring creates a unique opportunity to turn your business idea into reality.

Success requires thorough preparation, realistic planning, and genuine commitment. The programme isn't looking for the next unicorn startup—they're looking for sustainable businesses that can provide livelihoods for their founders and contribute to their communities.

Ready to Apply?

If you think The Prince's Trust Enterprise Programme could be right for you, your next step is to contact your local Prince's Trust office. They'll arrange an initial conversation to discuss your eligibility and business idea.

Remember: the application process is designed to help you succeed, not catch you out. Use each stage as an opportunity to develop and refine your business idea.

Frequently Asked Questions

Can I apply if I'm still employed?

Yes, but only if you're earning less than £16,000 annually or are in insecure employment. You'll need to demonstrate that starting your own business is a better alternative to your current situation.

What if my business idea changes during the application process?

This is completely normal and often encouraged. The programme is designed to help you develop and refine your idea. Significant changes might require updating your business plan, but minor adjustments are expected.

Can I reapply if I'm initially rejected?

Yes, but you'll need to address the reasons for rejection and demonstrate how your application has improved. Most successful reapplicants wait at least six months to develop their ideas further.

Is there ongoing support after the 12-month mentoring period?

Many mentoring relationships continue informally beyond the official 12 months. The Prince's Trust also runs networking events and alumni programmes to maintain connections.

This guide reflects the most current information available about The Prince's Trust Enterprise Programme as of January 2025. Programme details and eligibility criteria can change, so always verify the latest requirements with The Prince's Trust directly.