A COMMUNITY interest company has been awarded more than £16,000 from Cumbria Community Foundation to help young people in West Cumbria develop their own business.

TEGvirtual, who were awarded Community Interest Company (CIC) status in 2020 is run by a group of Cumbrian based business people and entrepreneurs who are passionate about helping people start and grow their own business.

The funding that has been given by Cumbria Community Foundation includes £10,000 from the Beverley Trust Fund and £6,976 from the Live the Dream Fund and will support twenty 16 to 25-year-olds living in the Allerdale and Copeland areas, to access the online training programme and discover how to start their own business.

Annalee Holliday, grants and donor services officer at Cumbria Community Foundation, said: "It's thanks to our fundholders and supporters that we are able to provide financial support to charitable organisations like TEGvirtual.

"The past year has been particularly difficult for young people, with many seeing heir plans for the future turned upside down.

"This funding will give them an opportunity to overcome some of the difficulties they might be facing right now by building confidence and gaining new skills that will stand them in good stead as they become young adults, while inspiring a new generation of young entrepreneurs."

Those young people who gain a funded place on the course will learn about idea validation, accounting, marketing, sales, management, leadership and business development.

They will be encouraged to think about starting their own business with the support of the TEGvirtual team and also have lifetime access to support through the peer-to-peer network.

The unique thing about TEGvirtual is that it is not just a grant to get people started, or give a finite amount of support or backing. This is a lifetime support programme to ensure people set up a business in the right way and continue to grow and make it a success.