This week, it has been reported by the ONS that the UK job market continues to weaken as job vacancies fall and the graduate job market specifically has hit its lowest level since 2018.

As young people across the UK received their A-Level results last week, new research revealed 75% of 16-19 year olds have aspirations to start a business – with more than a third (36%) already making money from side hustles.

Encouraging this entrepreneurial spirit and tackling the leading barriers to entry, Simply Business has partnered with entrepreneur, social mobility advocate and musician Stephen Manderson, better known as Professor Green, to launch the Young Entrepreneur Fund – giving away £50,000 in grants and six weeks of expert business support to 10 young entrepreneurs.

Revealing a growing appetite for entrepreneurship in its survey of 500 people aged 16-19, the small business insurance provider has also unearthed the leading barriers to entry. Half (51%)  cite a lack of funding as their biggest obstacle, while 46% report a lack of expert guidance or mentorship and 61% believe school doesn’t provide the necessary education around business skills.

Despite their increasing interest in self-employment, 80% of 16-19 year-olds still feel higher education is critical to future success and over half (55%) feel that the well-trodden path of higher education is their ‘only possible next step’ after leaving secondary education.

“I didn’t take the conventional route – I left school without any qualifications, and I definitely didn’t get anywhere near university,” said Manderson (Professor Green), who recently met with A-Level students at Project Zero youth centre in Walthamstow to discuss how they felt about their futures.

“No grades, no safety net, just a lot of graft and figuring things out as I went. And I know loads of young people feel the same right now. You’ve got ideas, ambition, but no one’s showing you how to turn that into something real. That’s why this initiative matters. It’s about giving people the backing they need to bet on themselves, which in turn helps to support local communities. Not everybody needs a degree to be successful – but you do need belief, support, and a chance. That’s what the Young Entrepreneur Fund is offering.”

But ambition is thriving as young people say they are motivated by independence (49% say they ‘want to be their own boss’), financial freedom (48% want to earn more), and passion (35% want to turn current hobbies into careers).

Championing this entrepreneurial ambition, the Simply Business Young Entrepreneur Fund is awarding 10 winners grants of £5,000 each, following the completion of a business support programme – provided by youth enterprise charity Hatch Enterprise. Open to those aged 18-30 from today until 9th October, applicants can enter via the Simply Business website by submitting an entry, sharing details of their current business, side hustle or business idea.

Three runners-up will also receive exclusive one-to-one mentoring from Harpreet Kaur, founder of Oh So Yum and winner of BBC’s The Apprentice in 2022.

A panel including Simply Business UK CEO, Julie Fisher, entrepreneur and musician Professor Green, BBC’s The Apprentice winner Harpreet Kaur, and CEO of charity Hatch Enterprise Rebekah Sun, will be judging entries on criteria including their unique value proposition, ambitions for growth, evidence of innovation and social impact.

Julie Fisher, UK CEO at Simply Business, said “We are incredibly proud to launch the Young Entrepreneur Fund today to empower the next generation of UK business founders. Our research tells a compelling story: millions of young people dream of being their own boss, yet only a fraction are able to turn that ambition into a reality. This disconnect is a challenge we must address.” 

“Small businesses and entrepreneurs are the lifeblood of our communities and economy, and this entrepreneurial spirit represents a treasure trove of opportunity. Through this initiative, we are not only providing vital funding and mentorship, but we are also championing the incredible opportunities that entrepreneurship offers. I am personally looking forward to reviewing the entries and seeing the incredible innovation and talent on offer.”

Applications opened 14th August and close at 23:59 on 9th October 2025.  To enter visit https://www.simplybusiness.co.uk/campaign/young-entrepreneur-fund/

Winners will be announced on  20th November 2025 and will begin a  six-week business support programme  with Hatch Enterprise in January 2026, before receiving their  £5,000 grants.