Tottenham

Hackney

Southwark

Deptford

London Youth Support Trust

2013 Annual Report

WelcomeThe London Youth Support Trust (LYST) is a youth enterprise charity that provides young people with the space and support they need to start a business.

Over the last 12 months, the London Youth Support Trust has undergone rapid expansion. We have won two public sector contracts, launched three outreach projects, and have opened our largest enterprise centre yet in Tottenham. We have doubled the size of our team and are delivering more services than ever; providing enterprise, employment and training opportunities to a wide-reaching audience in more deprived areas of London.

By diversifying our funding streams, creating strong public sector partnerships, and working with partnering organisations to deliver new projects, we have been able to help 50 people start a business. Out of all the businesses that moved on from LYST, 87% have achieved a positive outcome.

This year has seen LYST double both in delivery and turnover. In addition to this, we are working in new areas of London and undertaking activities new to LYST. Our rapid expansion has created a degree of strain with regard to both our management and finances, due to substantial non-recurring costs for our new centres and projects.

We have overcome these challenges by restructuring the management team and changing the financial model to reduce the cost of running our centres. Our strategy for 2014 – 2015 is to open more financially-self-supporting enterprise centres in London, where the rental income generated by the entrepreneurs sufficiently covers the premises costs.

I would like to take this opportunity to thank all the individuals and organisations who make our work possible. The ongoing support and the commitment of our partners, supporters and volunteers have helped transform the lives of hundreds of young people, giving them the skills, space and support they need to take control of their careers.

- Rob Whitmore, Chief Executive

189

86

23

57%

30%

supported during 2013

new businesses welcomed to our centres

businesses moved on from LYST

still trading after leaving LYST

went into further education or training

Achievements

Our CentresIn 2013, we opened our largest enterprise centre yet, the 639 Enterprise Centre. Situated in the heart of Tottenham, the centre is based in a building that was badly damaged in the 2011 riots. We won a competitive tender to run the building on behalf of the Greater London Authority and the restoration of the building was funded through the Mayor of London’s Regeneration Fund.

The refurbishment of the building was completed in March and the centre was opened two months later by Boris Johnson, Mayor of London; David Lammy, MP for Tottenham and former Tottenham FC star, Ledley King.

It is a particularly exciting project for LYST. The 639 Enterprise Centre is our first local authority partnership that includes a rent-free building. It also has a much wider mandate than a conventional LYST centre as alongside support business start-up, 639 has a variety of partners in the building who deliver complimentary services such as counselling, pre-business start-up and personal development.

The centre is currently hosting 15 fledgling businesses alongside 6 delivery partners, and has seen over 11,500 people walk through the door to receive advice on how to get into enterprise, training or employment.

Our centres in Hackney, Deptford, Southwark and Tottenham Green have continued to flourish, hosting entrepreneurs from a range of industries which have included fashion, jewellery-making, video production, cleaning and construction.

Our strategy for 2014 – 2015 is to open more financially-self-supporting enterprise centres in London, where the rental income generated by the entrepreneurs sufficiently covers the premises costs. We are in the process of closing two of our less cost-effective centres, and are opening a new self-financing centre in Peckham in early 2014. This change will greatly reduce the ongoing running costs for LYST and allow the organisation to grow.

Our Step Into Enterprise projects bring the opportunity of becoming your own boss to 16-25 year olds in deprived areas of London. Over 2013 we ran three unique projects; Camden Into Enterprise, Loughborough Be Enterprising, and Mind Your Own Business.

Camden Into Enterprise is a partnership between Westminster Kingsway College, the Prince’s Trust, Camden Council and the London Youth Support Trust, which aims to inspire the next generation of entrepreneurs from Camden. The programme helps young people in Camden who are not in education or employment find routes into self-employment, business start-up or further training. Through an enterprise hub based in the heart of Camden, the programme gives young entrepreneurs the space to explore their business idea. Over the course of 2013, Camden Into Enterprise worked with 40 young people and helped to establish 10 new start-up businesses.

Loughborough Be Enterprising (LBE) is a project funded by J.P. Morgan to support and develop 16 – 25 year olds in Loughborough Junction to explore self-employment opportunities.

The project has worked with 102 young people from the local area, teaching them basic printing, design and jewellery-making skills. We have helped to launch 10 young start-up businesses, working with each entrepreneur to test-trade their products at markets, promote their businesses at stalls and events, develop a viable business plan, and signposting them to relevant business courses.

In the autumn of 2012, LYST was awarded a contract from Southwark Council to help prepare 16 – 25 year olds who wanted to apply for a bursary to start their own business. The project was funded through the council’s restoration fund, and supported by Richard Farleigh, chancellor at London South Bank University and former Dragon’s Den panellist.

The Mind Your Own Business Scheme offers young people from the borough the opportunity to pitch their business idea to a Dragon’s Den-style panel demonstrating their business skills and innovative ideas. One round of the scheme saw applications from over 100 young people vying for the bursaries of £5000.

The scheme has enabled us to work with 31 young people on their business plans, and has awarded £100,000 in funding to 25 start-up businesses led by young entrepreneurs.

Our Projects

“[Into Enterprise] has helped in almost every way. Wendy and Nadia have pushed and supported me to help my business grow by increasing potential business opportunities, setting up meetings and applying for awards. Into Enterprise has helped me to achieve my potential.”-Lenique, Lenique Lois Jewellery

Financial Summary

81%

19%

Investments<1%

Grants and Donations Rents Investments

Total income £1,011,882

3%

31%

63%

3%

Generating Income Rent and service charges

Support Governance

Total expenditure £1,038,087

“Working in the 639 Enterprise Centre is great. It’s a creative hub; there are individuals from all different industries working together. You get tips and advice from your neighbours, and have access to all their services. If I need printed T-Shirts, I knock on the door next to me. If I need original African music, I go upstairs. Downstairs a fashion designer needs a promotional film shoot, and we’re doing it for her. The creative environment really is beneficial to everyone.”-Weike, Africa X5 TV

We are extremely grateful to the organisations and individuals who supported us over the course of 2013. Your support has allowed us to continue to enable young people from some of London’s most disadvantaged areas to find financial independence through entrepreneurship. From everyone at the London Youth Support Trust, and the entrepreneurs you have helped us to assist, thank you.

Basil PostanBenoit and Cécile d’Angelin

Byrne Charitable TrustCamden Council

Catherine and John ArmitageDeptford Challenge Trust

Garfield Weston FoundationGreater London Authority

Jan PethickJ.P. Morgan ChaseLee Valley Estates

London Stock Exchange GroupNorth London Enterprise

Philip HowardProgress Foundation

Sainsbury’sSouthwark Council

The Clothworkers’ FoundationThe Grocers’ Charity

The Leathersellers’ CompanyThe Potter FoundationThe Rank Fountation

The Schroder FoundationThe Tallow Chandlers Benevolent Fund

Troy Asset Management

Our Supporters

Registered Address:Tottenham Green Enterprise CentreTown Hall Approach RoadLondonN15 4RX

E-Mail: info@lyst.bizTel: 0208 8854 920Charity no: 1086850

@LYSTBusinesses

London Youth Support Trust

London Youth Support Trust

Staff

Rob Whitmore Chief ExecutiveClair Ferguson Executive DirectorArchana Rao Financial Controller

Ann-Marie Boyaram Accounts OfficerCliff Dobbs Centre Manager, Tottenham Green Enterprise CentreMandie Jacobs Receptionist/Adminstrator, 639 Enterprise CentreNadia Jones Business Support ManagerAdenike Malcolm Centre Manager, Deptford and SouthwarkSapphire Mason-Brown Communications and Marketing OfficerNicolette Nichols Centre Manager, 639 Enterprise CentreStephanie Pryce Client Support Adviser, 639 Enterprise CentreAdelle Shaw Information OfficerMonika Semorova Admin Assistant, 639 Enterprise CentreAynalem Teklu Centre SupportAmber Wright Project Manager

Trustees

Philip Howard (Chairman)

Rebecca ByrneJohn Godfrey Michael Higgin Anthony MarksJan PethickJoanna RowelleMichael St Aldwyn