14 July, 2014
Vince Cable celebrates 3,000 UK businesses created through national Outset service
Today, Secretary of State for Business, Innovation and Skills, Vince Cable hosted a ceremony at Westminster Conference Centre, celebrating the creation of over 3,000 UK businesses with the support of the Outset service.
Established in 2009, Outset is a not-for-profit, multi-award-winning service that offers enterprise coaching, personal development and business start up training to individuals across the UK. Outset supports individuals in laying strong foundations to tackle the many barriers faced when starting your own business, offering a structured programme of group workshops and one-on-one mentoring.
Vince Cable said: “Congratulations to the Outset team for this incredible achievement. They are clearly making a positive impact in our local communities by providing the support that businesses need to get started, grow and create jobs.”
This latest achievement is a result of engaging over 16,000 individuals in the South West and the East of England, and is made all the more significant by the demographic profiles represented, including:
• 75% previously unemployed (and of these, at least a third long-term unemployed)
• 47% with no or entry level qualifications
• 9% physical and mental health issues
• 18% BMEs
• 54% females
• 34% individuals under 25 or over 50
To date, businesses created through the Outset service have saved over £22 million in benefits payments throughout the UK, with these new enterprises contributing £4 million in taxes, and at least £16 million GVA to the economy. This represents a return of nearly 200% to the public purse.
YTKO Group Chief Executive, Bev Hurley CBE, said: “This important milestone, achieved in just four years, is a credit to both the passionate entrepreneurs we work with, and our hard-working, dedicated teams. At its core, Outset is about developing both the individual and the business potential, and we’re proud to see so many of our clients come off benefits, and start contributing back into the UK economy.”
Cornwall business owner, Jonathan Burfoot, will be officially recognised as the 3,000th business owner at Monday’s ceremony. Jonathan approached Outset Cornwall late last year with an idea for creating Newquay Forest School, a supportive learning environment for youth, to help overcome learning barriers and develop their confidence and social skills.
“Starting the school has been a fantastic challenge and the best thing about it has been having the freedom to do something without restrictions. It’s been wonderful to be able to give back to the Cornwall community, and to achieve a better quality of life, greater flexibility and more time with my family,” said Jonathan. Outset offers a strong social return by empowering people to create their own jobs, and has been proven to reduce social and financial exclusion, strengthen deprived communities and help people escape poverty.