Budget 2014: $2.5m for youth enterprise initiatives

The Government has confirmed $2.5 million of new operating spending over the next three years for youth enterprise initiatives, Youth Affairs Minister Nikki Kaye says. 

“This funding supports a number of initiatives for young people to learn financial literacy and business enterprise skills, as well as get opportunities to develop social-enterprise projects,” she says.

“We know what a difference participation in these initiatives can make to young people, particularly by giving them the skills and confidence to create businesses or social projects that are important to them and make a difference to New Zealanders.

“I've seen first-hand how organisations like Young Enterprise Trust and Inspiring Stories Trust are helping young people to think about how they can contribute to our economy and social and environmental causes that are important to them.

“Some young people have never had the opportunity to participate in business or social projects. These initiatives provide an important opportunity to improve their engagement and achievement while better preparing young people for future employment opportunities.

“Young people can get hands-on experience in business and social enterprise and financial literacy programmes. This can result in them developing all sorts of business and life-skills, including leadership.

“This funding supports this Government’s priorities of increasing the proportion of 18-year-olds with NCEA level 2 or equivalent by engaging with those who prefer a hands-on learning experience, and reducing long-term welfare dependence by having more young people employed and more jobs created,” Ms Kaye says.

The funding is for the next three years with $500,000 for 2014/15 and $1 million for each of the following years.