A NEW £5million fund has been launched today to help young entrepreneurs keep their businesses afloat during the coronavirus crisis.

The Prince’s Trust and NatWest Enterprise Relief Fund is available to entrepreneurs aged 18-30, who can apply for grants and tailored support.

Grants can be used to maintain core business operations during the crisis, as well as meet any existing financial commitments, such as paying for essential equipment or settling invoices from suppliers.

To be eligible businesses must have started up in the last four years.

To apply for funding and support from The Prince’s Trust and NatWest Enterprise Relief Fund visit https://www.princes-trust.org.uk/about-the-trust/coronavirus-response/enterprise-relief-fund.

Kate Still, Director for Scotland, The Prince’s Trust said: “It is more important than ever to encourage and protect the entrepreneurial spirit of young people in the UK.

“The challenge, in the short term, is that many young entrepreneurs whose business models are ordinarily completely viable are now suffering a considerable loss of income during this unprecedented economic time.

That’s why this new fund is so crucial.”