MyBnk

MyBnk is a British charity that focuses on financial and enterprise education for young people between the ages of 11 and 25. Set up in 2007, it builds young people’s knowledge, skills and confidence to manage their money effectively and make enterprising choices throughout their lives. MyBnk works across England but predominantly in and around London. MyBnk were most recently awarded the Guardian Charity of the Year Award 2016. This recognises them as an organisation demonstrating excellence and achievement in what they do and delivering a clear benefit to young people, many of whom are disadvantaged by poverty, or are marginalised in some other way.MyBnk

From 2014-2017 the Asfari Foundation is supporting two short enterprise training courses for disadvantaged young people from all over London, through which they gain employability skills and experience of running their own real-life enterprise. The first of these courses, Enterprise-in-a-Box, is a step-by-step guide to setting up a social enterprise with a focus on ethical products. The second project, Business Battle, takes young people from the drawing board to the market in the space of one week. MyBnk provides an interest-free loan of up to £40, with which young people team up to create, implement and evaluate their own business. Both projects emerged as a result of the lack of enterprise education programmes for young people, and specifically those focusing on social enterprise. In addition to gaining knowledge of enterprise and transferable employability skills, the confidence, self-esteem and aspirations of participants are raised, increasing their ability to create their own opportunities in the future. Over three years, Asfari Foundation funding will enable 1,400 young people to participate in these two projects, helping them gain invaluable employability experience.