EIGHTY young entrepreneurs in North Yorkshire are being offered a right Royal chance to start up their own companies before the end of the year.

The Prince's Trust today made available nearly £200,000 in low interest loans and bursaries to allow the disadvantaged 18-to-30 year olds make their corporate dreams come true.

Trust managers calculate that this could mean injecting 75 new businesses into the regional economy - over and above the active 202 Prince's Trust ventures already in the area.

Angelika Kitching, the Prince's Trust general manager for North Yorkshire, said: "We are passionate about turning untapped potential into real success.

"In short, if young people are facing barriers the Trust is there to say - 'yes you can'."

Particularly targeted for help will be those who were once in care, disabled people, educational under-achievers, unemployed or under-employed, and ex-offenders determined to make a new start.

After receiving a grant or loan - often phased over three years - the young person will receive ongoing support.

A comprehensive aftercare programme providing free business advice is implemented for the first three crucial years of the fledgling enterprise through one of 80 voluntary business mentors in North Yorkshire, including bank managers, solicitors, accountants, sales and marketing managers and successful business people.

It is this mentoring system which ensures that Prince's Trust companies have a 60 per cent success rate after three years - often double the survival rate for start-ups which rely on banks for financial support.

In the last financial year, 113 young people received start-up finance and support from the Trust, creating 105 new businesses in North Yorkshire.

Linda McHugh, business support manager for North Yorkshire, said: "The Business Start-up programme represents a great opportunity for young people in our region who are finding it difficult to get a job but have a germ of a business idea that could blossom, to be given support.

"If a young person has a business idea, can demonstrate the necessary initiative and commitment, the Prince's Trust can help them."

Anyone from North Yorkshire who wants to join the nearly 50,000 people who have received the Trust's start-up help since 1983, should telephone 01977 663255.

The Prince's Trust was founded in 1976 by The Prince of Wales to help young people fulfil their potential.

The Trust has since become the UK's leading youth charity, offering a range of opportunities including training, personal development, business start-up support, mentoring and advice.

Updated: 08:13 Thursday, October 03, 2002