The International Business Leaders Forum (IBLF) jointly with the Prince’s Trust, created an international network of programmes helping young people to start-up in business. This network was supported and developed by The Prince’s Youth Business International (YBI).
YBI is a network for about 40 youth business programmes around the world. Each programme is adapted to reflect the local needs of the country it operates in. The YBI network has helped to set up over 97,000 successful new businesses, which in turn have provided employment to hundreds of thousands of people.
In Russia Youth Business Russia (YBR) is being run by IBLF Russia, the Royal Bank of Scotland and Oxfam, with the assistance of YBI. The first pilot region in Russia is Kaluga where YBR has started giving out loans with the support of the “Women’s Microfinancial Network” (WMN). The second pilot region is Voronezh where YBR gives loans with the support of Voronezh Regional Fund for Small Business Support.
The third pilot region, Vladivostok (Russian Far East), officially joined YBR at the end of 2010. YBR operates in Vladivostok with the support of USAID, FESCO Transportation Group, MARITIME Bank and SABMiller RUS.
In March 2011 YBR launched in Novosibirsk Region with the support of Credit Suisse EMEA Foundation, KPMG and Novosibirsk Chamber of Commerce and Industry. Rostov Region joined YBR with the support of Bank Center-Invest and USAID in March 2012. Since May 2012 YBR programme is beeing implemented in Moscow in partnership with the Moscow Department of Science, Industrial policy, and Entrepreneurship, IBLF and the Russian Microfinancing Centre (RMC).
The overall management for the YBR in Russia is carried out by IBLF’s Russian Branch.
YBR facilitates the development of entrepreneurship by young people, helps in the search of alternative methods of job creation, as well as integrates young people into the social and economic life of the region.
The programme allows young people to get low-interest loans for starting their own business. In addition to financial assistance they are offered help of mentors, consultancy and training in the various aspects of running a business. All this allows young entrepreneurs to get on their feet quicker and to avoid the usual mistakes of a start-up operation.
What YBR brings:
To young people:
- economic independence
- creative liberty
To local authorities and society:
- job creation
- socio-economic involvement of youth
- unemployment reduction
- increase of wealth and prosperity
- development of a competitive landscape
- development of a small business sector
- reputation enhancement
- establishing strong ties with the local communities
- strengthening employee motivation through involvement in socially significant projects
- young people aged 18-35 are eligible for loans;
- Up to 150 000 rubles (about $4300) is the credit lim it;
- low interest – 12% per annum;
- the credit period – from 1 to 3 years with a possibility of a grace period of up to 3 months;
- no collateral;
- the basis for granting a loan is the applicant’s business-plan which is reviewed and approved by members of the Selection Panel.
News and Events