Ten schools in the North East are to take part in a pilot scheme designed to boost entrepreneurship among young people, backed by one of the world's largest financial institutions. The programme, run by the Careers & Enterprise Company (CEC), has received support from Goldman Sachs Gives and HomeServe founder Sir Richard Halpin.
Students will work with local entrepreneurs, start-ups and scale-ups to tackle real-world business challenges, gain confidence in turning ideas into opportunities, and explore entrepreneurial pathways.
Addressing High NEET Rates
The initiative comes as policymakers await the final report from the Milburn Review into the high numbers of young people not in employment, education or training (NEETs). The North East has the highest rates of NEETs in the country.
CEC's annual survey found that only 5% of students in the region report awareness of careers requiring entrepreneurial skill, while 17% do not know what job they want to do. Despite recent start-up growth, the North East has fewer total businesses per person than other parts of the country.
Support from Leaders
North East mayor Kim McGuinness said: “There is no shortage of talent, ambition, or entrepreneurial spirit among young people in our region – what we need is the opportunity to match it.” She added that giving young people the skills, confidence and experience they need is vital to ensuring they go on to brilliant careers.
Business Secretary Jonathan Reynolds said: “Work experience is vital if we’re going to help young people develop the confidence and skills they need to succeed. This partnership is a great example of businesses and educators working together to give everyone a fair chance to get on, regardless of their background or where they live.”
Anthony Gutman, co-CEO of Goldman Sachs International, said: "This initiative is about giving young people direct access to business leaders, real-world challenges and the confidence to think differently about their futures." He noted the firm's commitment to helping address systemic barriers to the world of work.
John Yarham, chief executive of the Careers & Enterprise Company, said: “The North East is showing what is possible when careers education, enterprise and local economic priorities come together.” He added that the ambition is for enterprise education to become an opportunity for every young person.
The Goldman Sachs Gives programme was set up by the New York-based global financial institution to tackle economic and social issues.
