The Young Enterprise Scheme (YES) charity is celebrating 40 years of helping young Kiwis to become New Zealand’s business leaders.
With alumni from established companies such as Xero, Sharesies, Kiwibank and more, YES reveals its programmes have helped 5000 students in 2022.
In a report conducted by ImpactLab, chaired by Sir Bill English shows that participants in the programmes have earned a social value in dollar terms of $2753 for each participant.
YES says that every $1 invested in YES is measurable to $5.80 social return on investment, equalling to $17,965,183 in the 2021/2022 financial year alone.
Engaging with students in 85 percent of the New Zealand secondary schools through a range of programmes and resources to tap into their entrepreneurial mindset, Chief Excitement Officer, Terry Shubkin says they are pleased that they were able to quantify their support.
“We see every day the positive impact that YES programmes have in the lives of young Kiwis, but it’s wonderful to be able to quantify the benefits by measuring social value,” she says.
“We’ve always known that YES helps young people foster an entrepreneurial mindset so they can go on to become founders and world-ready, but in addition this report has also shown that YES participants have a reduced likelihood of risky behaviour and addiction, increased specialised skills, improved mental health, and increased academic achievement.”
Notable alumni Nick Hyland, Co-Founder of electric scooter and bike share company Flamingo Scooters says the programme gave him a platform to test his ideas through trial and error whilst also growing personally and professionally.
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The programme gave him opportunities and connections for him straight out of high school as well.
“The impact YES has on students is phenomenal. Not only do they create entrepreneurs, but a network of entrepreneurs that can connect and work together to change the world,” says Hyland.
Since its inception 40 years ago, YES has helped more than 150,000 students and continues to diversify its programmes to ensure it is accessible, inclusive and valuable for all students.
“It’s great to not only see YES’ significant growth trajectory which has doubled in the last five years, but also the focus and dedication I’ve seen out of their alumni as they come of out of the programme work and world ready,” says Simon Bridges, Chief Executive of Auckland Business Chamber.
In one of YES’s latest offering, Toloa is a new Pasifika programme that offers innovation challenges for recipients of the scholarship, helping students apply their science, technology, engineering, arts and mathematics knowledge in a practical setting.
