A SCHEME aiming to support small firms is donating cash to the Young Enterprise charity every time a new business mentor completes their training during November.
Lloyds Banking Group has linked up with the Small Firms Enterprise Development Initiative (SFEDI) to donate £5 to the charity each time someone finishes their course through the online Get Mentoring Initiative.
The partnership’s High Five campaign aims to recruit and train thousands of mentors from small, medium and micro businesses throughout November and raise £10,000 for Young Enterprise.
Jackie Jenks, mentoring manager at Lloyds Banking Group, said: “The UK is home to a real wealth of potential business mentors who may not be aware that the skills they have developed throughout their own careers can easily be translated into valuable guidance for other aspiring business people.
“Our partnership with SFEDI aims to unearth this talent by encouraging as many volunteers as possible to train as mentors, equipping them with the skills needed to turn their own knowledge and insight into constructive guidance that can really benefit UK entrepreneurship.
“We chose Young Enterprise as the benefactor of our donation as it is an organisation we have worked with on numerous occasions as part of our wider mentoring support.”
Research shows 70% of small businesses that received mentoring survived for five years or more.