Mayor welcomes banking giant’s pledge to support young people into work in East Midlands

The East Midlands Combined County Authority (EMCCA) has teamed up with a leading bank to connect young people with employment.

The NatWest Group has announced plans to help more than 10,000 young people take their next step towards employment, training or entrepreneurship, with a new place-based approach designed to create more opportunities closer to home – and is working on a pilot with EMCCA.

The offer will include support at different stages, bringing together financial and future-skills education, work experience, early careers and entrepreneurship support. The ambition is to create clearer routes for young people from education and skills development into the world of work or starting a business.

‘Fantastic opportunity’

Mayor of the East Midlands, Claire Ward said: “I’m delighted that this pilot is coming to the East Midlands. It is a fantastic opportunity for the young people in our region and will help them to access the support, skills, and opportunities they need to fulfil their potential.

“Creating better opportunities for every young person is one of my main focuses as Mayor. This pilot will help us turn that commitment into action, working with partners across the region to give young people the best possible start and build a stronger future for the East Midlands.”

The new NatWest Youth Offer will launch in January, with a pilot in Greater Manchester, working with the Combined Authority and local partners to respond to the opportunities and challenges facing young people across the region.

Following the launch of Generation East Midlands (GenEM), a further pilot is in development with the EMCCA, with NatWest hoping to extend the offer across the UK,

GenEM aims to work with employers to develop opportunities to support young people to have meaningful employer encounters, access to work experience and gain valuable understanding of industries and pathways into them.

The NatWest Group’s GenEM pledge is it will use its position to help young people build connections with employers and entrepreneurs in their own communities through practical actions which will be agreed in the coming weeks.

The first pilot will include:

• Workplace experience and insight: structured work experience and T-level placements across NatWest branches, offices and participating local business customers;
• Early careers opportunities: clearer local connections into NatWest apprenticeships, internships, graduate roles and other employment;
• Entrepreneurship: Tailored support for young people seeking to build their own business, through the NatWest’s successful Accelerator network.

Tailored to local communities

Rather than taking a one-size-fits-all approach, NatWest will work with the combined authorities and future local government partners to tailor activity to local priorities and connect young people with opportunities available in their area.

By combining local insight from combined authorities with NatWest’s national reach, longstanding local presence and extensive business network, the initial pilots will help shape the approach to build stronger connections between young people, employers, educators and entrepreneurs to create more visible routes into work and enterprise.

Paul Thwaite, NatWest Group chief executive officer, said: “Opportunities shouldn’t depend on where you live, and that’s why we want to use our national presence along with our longstanding business relationships to make it easier for young people to see and access more opportunities closer to home. Through our new Youth Offer, we want to work with partners across the UK to help young people build the skills, experience and connections they need to take their first step into the world of work.”

This new offer comes alongside the Government’s Youth Guarantee which is backed by a £2.5 billion investment into youth employment support, it highlighted how stronger connections between government, education and employers can create clearer routes into work, training and entrepreneurship.

Work and Pensions Secretary Pat McFadden, said: “It’s fantastic to see a leading employer like NatWest back the next generation.

“By providing support to budding entrepreneurs, this will give young people the confidence and connections to take their first step into work and to build a lasting career.

“That’s why we’re delivering on our wider Youth Guarantee offer to create nearly one million opportunities, backed by £2.5 billion, to give every young person the chance to have the best start in life.”

Supporting the next generation of founders

The NatWest Youth Offer will also include the creation of a new Young Founders Community for young people aged 18 to 25 who want to explore entrepreneurship or develop and scale an existing business idea. Launching nationwide in January, the community builds on NatWest’s existing network of 18 Accelerators across the UK and its growing partnerships with universities.

Recent NatWest research found that 42 per cent of teenagers are interested in starting a business or side hustle, motivated by a desire for greater control over their future. Through the community, young people will be able to connect with other entrepreneurs and access mentors, specialist support, learning opportunities and partner benefits. Support will be available both through in-person activity at the hubs and digitally through the Accelerator App.