User:YBI-London/Youth business international

Background

The Prince’s Youth Business International (YBI) is a not-for-profit organisation which, via a global network, provides young people with the opportunity to start their own business. Founded in 2000, the charity was originally a programme within The International Business Leader Forum before becoming an independent organisation in 2008 and is one of the Prince’s Charities, a group of not-for-profit organisations of which His Royal Highness The Prince of Wales is President.

Today, YBI leads a global network of independent country initiatives working with tens of thousands of people spread over nearly forty countries spanning six continents helping provide young people with the opportunity to start their own business – through a combination of access to capital, business development services and experienced mentoring. In 2009, the YBI Network supported over 8,500 entrepreneurs, bringing the total number of entrepreneurs supported since 2000 to 105,000. By 2020, YBI aims to provide opportunity and support to 100,000 new young entrepreneurs annually and to have created more than one million jobs.

Patrons and Supporters

To facilitate this ever expanding reach and increase awareness, YBI has developed a wide network of partnerships with governments, businesses and civil society organisations across the world. Such partnerships centre on the premise of each supporting body contributing towards YBI’s goal in creating opportunities for young entrepreneurs. In November 2009, YBI launched a Patrons Council in recognition of a number of organisations and persons that have provided significant support towards YBI’s development across the world and youth business entrepreneurship. Listed in YBI’s Patrons Council are; Accenture, Althea Foundation, Banking on the Young, Barclay’s Capital, The Centennial Fund, Chris Rokos, Deloitte, Ernst and Young, Jane Nelson, KPMG, The Loomba Trust, Lovells, The Parthenon Trust, Pricewaterhouse Coopers, Scotiabank, Shell Foundation, Smith and Williamson and Rosemary O'Mahony

People

His Royal Highness The Prince of Wales is founder and President of Youth Business International. YBI makes up part of the Prince’s Charities – a grouping of twenty not-for-profit organisations of which The Prince is President. YBI’s Board of Trustees is chaired by Clydesdale Bank and National Australia Group Europe Chairman, Sir Malcolm Williamson and consists of YBI Chief Executive Andrew Devenport, John Downie – a senior partner at Accenture, Frances Le Grys – corporate partner of international law firm Lovells, Adam Lury – co-founder of HHCL advertising agency, Elizabeth Padmore – Chairman of Basingstoke and North Hampshire Foundation Trust Hospital, and Rupendra Singh – former Non-Executive Chairman of KPMG India.

YBI also has two Board of Representative members who focus their efforts on providing a necessary communications link between the Board of Trustees and YBI’s networked members and supporters. In January 2010, David Stewart-Patterson – Executive Vice President, Canadian Council of Chief Executives and Vice Chair, Canadian Youth Business Foundation and Sriyan De Silva Wijeyeratne – Country Manager, Microsoft Sri Lanka and Founder Trustee, Youth Business Sri Lanka were elected as the first Board Representatives.

Day to day business at YBI is undertaken by a team of 17 employees and a fluid network of volunteers and interns.

Work Practices and Objectives

YBI follows five key objectives in a bid to provide opportunity and development for youth business entrepreneurship;

Objective 1: Strengthen the operational capabilities of the network

Objective 2: Assess the quality and performance of the network

Objective 3: Raise resources for the network

Objective 4: Expand the network to new countries

Objective 5: Act as an advocate for the network

Entrepreneur of the Year

Each year YBI celebrates the achievements and successes of young entrepreneurs across the world culminating in the YBI Entrepreneur of the Year Awards. Now into its fourth year, the awards showcase youth business talent and highlight the success and impact business orientated initiatives have had on local communities around the world.

Members of the YBI Network vote for their favorite entrepreneur, creating a list of four finalists. Each finalist is then interviewed by an expert judging panel before the Entrepreneur of the Year winner is revealed at an awards dinner. Past winners have ranged from a plastic recycler in India, a waste disposal expert in Kenya and 2009’s winner – an Argentinean radio station owner, Juan Ramón Nuñez. Nuñez, a former scrap collector turned radio presenter went on to become a national celebrity in his homeland after winning the YBI award, appearing on the front cover of Argentina’s most popular newspaper and turning up on the country’s most watched chat shows. The publicity generated from Nuñez’s award has subsequently helped propel the profile of YBI’s member in Argentina, Fundación Impulsar.

In 2010, Mexico City hosted the YBI Entrepreneur of the Year Award.

Other Initiatives

In 2008, YBI hosted a Global Forum on Youth Entrepreneurship. Discussion centred upon how both public and private sectors can combine and work together to promote and develop youth entrepreneurship. YBI subsequently developed an Agenda for Action following the 2008 Group Forum focused on future initiatives towards the development of youth business entrepreneurship. Agenda for Action centred on the following six points to work on;

1.	Youth employment and enterprise are about competiveness and compassion

2.	Entrepreneurship is an attitude and an activity

3.	The importance of champions and celebrating them

4.	The need for hard statistics and inspiring stories

5.	The potential to create a common voice and a common agenda on key issues

6.	The importance of individual action

In 2009, YBI also published a report entitled, ‘Youth Entrepreneurship - Recommendations for Action’ as part of the ‘Making Entrepreneurship Work’ series. The report highlighted YBI’s decade long experience focused on youth entrepreneurship that was intended to also encourage governments and business to support young people and entrepreneurial development. The report highlighted that recognizing and supporting youth business opportunities could combat youth unemployment and consequently stimulate local communities and economies – thus proving a much needed boost amid the economic downturn.

References

Youth Business International (YBI)

External Links

http://www.youthbusiness.org

Categories

Non-profit Organizations, Youth Development Organizations, Prince's Charities