Youth Business Spain releases own mentoring report
Youth Business Spain (YBS) have been closely monitoring the result of their mentoring programme since it started in June 2013. On June 28 2018, they released the findings from four years of research and data collection.
YBS's mentoring programme, which was aided by YBI's capacity development support, is delivered via a network of local partners. Young entrepreneurs receive personalised support from a mentor that helps them to improve their skills in the areas of business strategy and development, management, sales techniques, economic and financial management, and planning and organisation. Beyond building entrepreneurs’ technical skills, YBS also focus on personal development, networking and soft skills.
Over the four year period, 1,110 young people participated in the programme, leading 860 businesses across 12 regions. They benefited from a total of 28,400 hours of mentoring (that equates to 33 hours per person). The research aims to analyse the benefits of their programme for young entrepreneurs, their businesses, the local partners, the economy and society in general.
The key findings from YBS’s report are:
Their average mentee is a university graduate aged between 30 and 35 years old
Their most common business profile is a sole proprietorship, at a very early stage of development, with two employees and an average turnover of around €31,000
87% of YBS’s entrepreneurs are highly or extremely satisfied with the development of the mentoring programme
Businesses that took part in the mentoring programme were more than twice as likely to stay open, with a survival rate of 87% in the fifth year against a national average of 41%
The equivalent of 1,384 full time jobs were created, thanks to the direct hiring by the businesses or indirect employment created by the business
Between 2013-2016, €87.4 million was generated by the companies that took part
The mentoring programme between 2013-2016 led to €42.6 million being generated for the Spanish government in taxes
The contribution of the mentoring programme to public finances, coming from the increase in income and reduction in expenses generated by the economic activity and employment, amounted to €19.8 million
As well as these impressive results which you can read here, the team at YBS also produced a video to show the impact of mentoring, which you can watch below.