London Youth Support Trust 2013 Annual Report

Transcription

1 Tottenham Hackney Southwark Deptford London Youth Support Trust 2013 Annual Report

2 Welcome The London Youth Support Trust (LYST) is a youth enterprise charity that provides young people with the space and support they need to start a business. Achievements 189 supported during new businesses welcomed to our centres 23 businesses moved on from LYST 57% still trading after leaving LYST 30% went into further education or training Over the last 12 months, the London Youth Support Trust has undergone rapid expansion. We have won two public sector contracts, launched three outreach projects, and have opened our largest enterprise centre yet in Tottenham. We have doubled the size of our team and are delivering more services than ever; providing enterprise, employment and training opportunities to a wide-reaching audience in more deprived areas of London. By diversifying our funding streams, creating strong public sector partnerships, and working with partnering organisations to deliver new projects, we have been able to help 50 people start a business. Out of all the businesses that moved on from LYST, 87% have achieved a positive outcome. This year has seen LYST double both in delivery and turnover. In addition to this, we are working in new areas of London and undertaking activities new to LYST. Our rapid expansion has created a degree of strain with regard to both our management and finances, due to substantial non-recurring costs for our new centres and projects. We have overcome these challenges by restructuring the management team and changing the financial model to reduce the cost of running our centres. Our strategy for is to open more financially-self-supporting enterprise centres in London, where the rental income generated by the entrepreneurs sufficiently covers the premises costs. I would like to take this opportunity to thank all the individuals and organisations who make our work possible. The ongoing support and the commitment of our partners, supporters and volunteers have helped transform the lives of hundreds of young people, giving them the skills, space and support they need to take control of their careers. - Rob Whitmore, Chief Executive

3 Our Centres In 2013, we opened our largest enterprise centre yet, the 639 Enterprise Centre. Situated in the heart of Tottenham, the centre is based in a building that was badly damaged in the 2011 riots. We won a competitive tender to run the building on behalf of the Greater London Authority and the restoration of the building was funded through the Mayor of London s Regeneration Fund. The refurbishment of the building was completed in March and the centre was opened two months later by Boris Johnson, Mayor of London; David Lammy, MP for Tottenham and former Tottenham FC star, Ledley King. It is a particularly exciting project for LYST. The 639 Enterprise Centre is our first local authority partnership that includes a rent-free building. It also has a much wider mandate than a conventional LYST centre as alongside support business start-up, 639 has a variety of partners in the building who deliver complimentary services such as counselling, pre-business start-up and personal development. The centre is currently hosting 15 fledgling businesses alongside 6 delivery partners, and has seen over 11,500 people walk through the door to receive advice on how to get into enterprise, training or employment. Our centres in Hackney, Deptford, Southwark and Tottenham Green have continued to flourish, hosting entrepreneurs from a range of industries which have included fashion, jewellery-making, video production, cleaning and construction. Our strategy for is to open more financially-selfsupporting enterprise centres in London, where the rental income generated by the entrepreneurs sufficiently covers the premises costs. We are in the process of closing two of our less cost-effective centres, and are opening a new self-financing centre in Peckham in early This change will greatly reduce the ongoing running costs for LYST and allow the organisation to grow.

4 [Into Enterprise] has helped in almost every way. Wendy and Nadia have pushed and supported me to help my business grow by increasing potential business opportunities, setting up meetings and applying for awards. Into Enterprise has helped me to achieve my potential. -Lenique, Lenique Lois Jewellery Our Projects Our Step Into Enterprise projects bring the opportunity of becoming your own boss to year olds in deprived areas of London. Over 2013 we ran three unique projects; Camden Into Enterprise, Loughborough Be Enterprising, and Mind Your Own Business. Camden Into Enterprise is a partnership between Westminster Kingsway College, the Prince s Trust, Camden Council and the London Youth Support Trust, which aims to inspire the next generation of entrepreneurs from Camden. The programme helps young people in Camden who are not in education or employment find routes into self-employment, business start-up or further training. Through an enterprise hub based in the heart of Camden, the programme gives young entrepreneurs the space to explore their business idea. Over the course of 2013, Camden Into Enterprise worked with 40 young people and helped to establish 10 new start-up businesses. Loughborough Be Enterprising (LBE) is a project funded by J.P. Morgan to support and develop year olds in Loughborough Junction to explore self-employment opportunities. The project has worked with 102 young people from the local area, teaching them basic printing, design and jewellery-making skills. We have helped to launch 10 young start-up businesses, working with each entrepreneur to test-trade their products at markets, promote their businesses at stalls and events, develop a viable business plan, and signposting them to relevant business courses. In the autumn of 2012, LYST was awarded a contract from Southwark Council to help prepare year olds who wanted to apply for a bursary to start their own business. The project was funded through the council s restoration fund, and supported by Richard Farleigh, chancellor at London South Bank University and former Dragon s Den panellist. The Mind Your Own Business Scheme offers young people from the borough the opportunity to pitch their business idea to a Dragon s Den-style panel demonstrating their business skills and innovative ideas. One round of the scheme saw applications from over 100 young people vying for the bursaries of The scheme has enabled us to work with 31 young people on their business plans, and has awarded 100,000 in funding to 25 start-up businesses led by young entrepreneurs.

5 Working in the 639 Enterprise Centre is great. It s a creative hub; there are individuals from all different industries working together. You get tips and advice from your neighbours, and have access to all their services. If I need printed T-Shirts, I knock on the door next to me. If I need original African music, I go upstairs. Downstairs a fashion designer needs a promotional film shoot, and we re doing it for her. The creative environment really is beneficial to everyone. -Weike, Africa X5 TV Financial Summary Grants and Donations Rents Investments Investments <1% 19% 81% Total income 1,011,882 Generating Income Support Rent and service charges Governance 3% 3% 31% 63% Total expenditure 1,038,087

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7 Our Supporters We are extremely grateful to the organisations and individuals who supported us over the course of Your support has allowed us to continue to enable young people from some of London s most disadvantaged areas to find financial independence through entrepreneurship. From everyone at the London Youth Support Trust, and the entrepreneurs you have helped us to assist, thank you. Basil Postan Benoit and Cécile d Angelin Byrne Charitable Trust Camden Council Catherine and John Armitage Deptford Challenge Trust Garfield Weston Foundation Greater London Authority Jan Pethick J.P. Morgan Chase Lee Valley Estates London Stock Exchange Group North London Enterprise Philip Howard Progress Foundation Sainsbury s Southwark Council The Clothworkers Foundation The Grocers Charity The Leathersellers Company The Potter Foundation The Rank Fountation The Schroder Foundation The Tallow Chandlers Benevolent Fund Troy Asset Management

8 Trustees Philip Howard (Chairman) Rebecca Byrne John Godfrey Michael Higgin Anthony Marks Jan Pethick Joanna Rowelle Michael St Aldwyn Staff Rob Whitmore Clair Ferguson Archana Rao Ann-Marie Boyaram Cliff Dobbs Mandie Jacobs Nadia Jones Adenike Malcolm Sapphire Mason-Brown Nicolette Nichols Stephanie Pryce Adelle Shaw Monika Semorova Aynalem Teklu Amber Wright Chief Executive Executive Director Financial Controller Accounts Officer Centre Manager, Tottenham Green Enterprise Centre Receptionist/Adminstrator, 639 Enterprise Centre Business Support Manager Centre Manager, Deptford and Southwark Communications and Marketing Officer Centre Manager, 639 Enterprise Centre Client Support Adviser, 639 Enterprise Centre Information Officer Admin Assistant, 639 Enterprise Centre Centre Support Project Manager Registered Address: Tottenham Green Enterprise Centre Town Hall Approach Road London N15 4RX Tel: Charity no: London Youth Support Trust London Youth Support Trust