Young Enterprise Scotland has had its funding confirmed by Deputy First Minister Kate Forbes, enabling it to remain viable throughout the year.

The charity announced that it risked closure after it lost its normal government grant funding last week, which accounts for almost all of its overall income.

If the charity closed, then 31 jobs at the organisations were at risk, and students would have lost the opportunity to study the SCQF Level 6 in entrepreneurship.

YE Scotland has been in operation for 30 years, delivering education in enterprise building to schools and colleges to bring vital skills to Scotland’s students.

Despite losing its typical grant, Kate Forbes reassured in the Scottish Parliament yesterday that the charity would receive the necessary funds.

“I will be very clear: funding for Young Enterprise Scotland has not been withdrawn,” she said.

“Since 2022, the Scottish Government has advised Young Enterprise Scotland, along with other stakeholders, that all future entrepreneurial education programmes will move to competitive funding – that approach is consistent with other entrepreneurial funds and is in the DNA of entrepreneurship.

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“Although Young Enterprise Scotland was not successful in bidding for entrepreneurial education funding because of the strength of other applications – many of which had not previously received government support – I met the chair and chief executive of Young Enterprise Scotland this morning to update them on the conversations about additional support that had already taken place with officials, and I have approved the requested £285,000 to run into this year the two programmes that were previously funded by the Scottish Government.”

According to Forbes, this funding will cover the charity’s expenditure from April 2024 to March 2025, and the charity has confirmed that the funding will ensure their ongoing viability.

In the past year, YE Scotland supported over 18,000 school and college students through its enterprise programmes, including the flagship Company Programme, which many entrepreneurs reflect on as the pathway to their business career.