The Prince of Wales is not only passionate about helping the young people of the UK, he is also rallying support for the growing number of the British population who are over 50. This segment of men and women in Britain has felt the sting of redundancy in the workforce. According to data from the Office for National Statistics, the estimate is that there are 425,000 individuals over 50 who are unemployed. Speaking at a reception honouring PRIME entrepreneurs who are part of The Prince’s Trust, Prince Charles told The Daily Mail that “people feel they have no value anymore and once you’re made redundant clearly it’s very difficult.”
Started in 1999, PRIME, otherwise known as The Prince’s Initiative for Mature Enterprise, is the first nationwide organisation devoted to assisting individuals over 50, who are unemployed or on the verge of redundancy. PRIME provides participants with the necessary tools to accomplish economic and individual success through self-employment.
“I knew when I founded The Prince’s Initiative for Mature Enterprise that there were a large number of over 50s who were workless, but was shocked when I discovered the true scale of the issue and challenge,” Prince Charles stated on prime.org.uk.
PRIME has assisted an estimated 25,000 individuals with financial advice, numerous courses, mentoring, and networking. The website also offers a host of online resources . “So we aim, through PRIME, to show that there’s still life in the old dog yet! And so often we find that over-50s who start their own businesses actually are more sustainable, in terms of a percentage of the success rate, than those who are younger,” Prince Charles told the Daily Mail.
The Prince’s Trust is usually known for its work assisting young people. Prince Charles, who turns 65 this November, is passionate in his appeal to assist this often passed over and at risk segment of society. “Now more than ever, our economy and society needs the skills and knowledge built up over so many years that older people have to offer,” Prince Charles continued via prime.org.uk. PRIME is yet another part of the phenomenal work Prince Charles does through The Prince’s Trust.