£5million invested to support 160,000 young people into work

£5million will be invested in careers and enterprise programmes across the country to help 160,000 young people make connections with the world of work.

The government-backed Careers & Enterprise Company today (29 June) announced the successful bidders for funding from its Investment Fund which ensures that the best careers and enterprise programmes reach the students who need them the most.

The investment will support 50 organisations delivering tried and tested programmes to young people that focus on work experience, enterprise education, volunteering and/or transition skills development. The £5million includes £1million from the Education Endowment Foundation and Bank of America Merrill Lynch to evaluate different approaches to careers education.

The Careers and Enterprise Company has signed up 1,700 secondary schools and colleges to its network – half of all secondary schools and colleges in England – to help them develop tailored careers and enterprise plans and connect them with employers and careers programme providers.

The Company’s Enterprise Adviser Network connects schools and colleges with employers and careers programme providers to work together to create meaningful encounters with the world of work for young people.

This follows research which shows that young people who have 4 or more encounters with the world of work while at school are 86% less likely to be NEET - not in education, employment or training - and on average will go on to earn 18% more than their peers who did not have such opportunities.

The Company’s first Investment Fund of £5milion, launched in 2015, resulted in:
• More than 250,000 young people benefitting from careers and enterprise support - the Company hit this target 6 months ahead of schedule
• 170,000 new encounters with STEM employers
• 75% of this fund invested in ‘cold spots’ – areas in England most in need of careers and enterprise support
• More than 3,000 new employers working with a young person for the first time
• The initial government money was doubled through match funding

Education Secretary Justine Greening said:

“Good careers advice is vital in inspiring and helping young people to make smart, informed choices about their futures – whether that’s going off to university, starting an apprenticeship or kick starting a career.

“The Careers & Enterprise Company has reached out to thousands of young people to give them advice and support to ensure there are no limits to their potential. It’s great to see the programmes continue to take shape across the country and positively impact young lives.”

Claudia Harris, Chief Executive of the Careers & Enterprise Company, said:

“I am delighted we have been able to invest £5million to scale up proven careers and enterprise programmes in areas of need, focussing on careers and enterprise cold spots. I am grateful to the Education Endowment Foundation and Bank of America Merrill Lynch for their significant contribution to help build the evidence base.

“Our first fund has delivered ahead of schedule to provide careers and enterprise support to more than 250,000 young people including 170,000 new STEM encounters with business. It has also engaged 3,000 new employers working with young people for the first time.

“The best research shows that young people who have 4 or more encounters with the world of work while in education are 86% less likely to be NEET - not in education, employment or training - and on average will go on to earn 18% more than their peers who did not have such opportunities. So we know this funding is making a real difference to employment outcomes for young people and the future of our economy.”