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NEW GROWTH PACKAGE FOR YOUTH ENTERPRISE

June 7th, 2016

Brightside online youth mentoring social enterprise gets £430,000 support to double its impact

Thousands more disadvantaged young people will receive mentoring support to help them succeed as a result of a new investment by Social Business Trust (SBT), announced today.

Brightside, which provides online mentoring to young people across the UK, is to receive a package of hands-on business expertise and a cash grant, together worth £430,000.

The investment in Brightside is the first from SBT Design, a programme introduced by SBT earlier this year, to prepare more social enterprises to scale up. Through SBT Design, Brightside received practical support to develop a three-year plan for growth. This new package will enable Brightside to implement that plan and double the number of young people reached each year from 10,000 a year to 20,000.

The hands-on support for Brightside will come from Social Business Trust’s corporate partners, British Gas, Bain & Company, Credit Suisse, Clifford Chance, EY, Permira and Thomson Reuters. They have already had in-depth support and guidance to develop their business plan from Sabine Chappard, a managing director at Credit Suisse who will continue to advise and assist as their SBT ‘Investment Director’.

SBT’s CEO and Co-founder Adele Blakebrough said, “We’re very excited by Brightside’s potential to help thousands more disadvantaged young people across the UK. With access to outstanding strategists, accountants, finance specialists, lawyers and other experts we know we can work with Brightside to increase its impact and change lives for the better.”

Anand Shukla, CEO of Brightside said: “We couldn’t be happier to have SBT’s support. This isn’t about dry statistics but about enabling Brightside to help thousands more young people, whatever their background, with making important life decisions.”