9 NOVEMBER 2020: Prince’s Trust Australia (PTA) is pleased to announce grant funding for entrepreneurship training and programmes from the Australian Government through the Department of Veterans’ Affairs (DVA).
The grant funding is part of a $6 million package announced as part of the 2020-21 Budget to broaden the Prime Minister’s Veterans’ Employment Programme, with this to include assistance for veterans and their families considering self-employment through small business development and entrepreneurship.
The veteran community is uniquely positioned to contribute to Australia’s small business community, having developed key skills including in innovation, problem solving, agility and project management.
To date, Prince’s Trust Australia has supported more than 450 participations through their entrepreneurship training program. The program provides transitioning defence members, veterans, and their families with the confidence, skills and support they need to explore and start their own businesses.
With support from the Australian Government, Prince’s Trust Australia will continue to scale and develop new programmes designed to build capacity and competitiveness for veteran and family entrepreneurs across Australia.
The Hon Julie Bishop, Chair of Prince’s Trust Australia remarks:
“Today our veterans and their families face complex challenges as the future of work is changing rapidly.
The funding support received from the Department of Veterans Affairs (DVA) will enable us to rapidly scale our successful and high impact Enterprise for Veterans programme.
Our program is unique in two important ways. First, it supports veterans to develop the entrepreneurial and technical skills to start and grow a small business.
Secondly, it supports veterans’ partners, as their careers have often been impacted by life in the defence force.
Our program is free and gives veterans the confidence, networks and skills they need to set up a business.
The funding will enable us to support even more veterans and their families to continue to make a contribution in their post-military life”
Prince’s Trust Australia is working towards a target to support 10 per cent of all transitioning defence members into self-employment by 2023.
Why is this important?
The adjustment to civilian life after the military is complex for contemporary veterans and their families.
For veterans, navigating challenges, including translating skills and capabilities to civilian workplaces, and change of identity and purpose, can have a significant impact on their long-term well-being.
Career opportunities for Defence spouses are often impacted by frequent posting relocations, geographical proximity to workplaces, unemployment or long-term underemployment, and caring responsibilities that are amplified during an ADF member’s absence.
Prince’s Trust Australia programmes are designed to help Defence members and their families consider entrepreneurship and small business as an alternative employment pathway.
Prince’s Trust alumni are building businesses in industries as diverse as organic skincare, furniture design, life coaching, photography, cybersecurity, ecommerce, tourism and hospitality, property maintenance, property development, real estate, aviation, yoga, nutrition, social enterprise, apparel, fitness, trauma consulting, childcare, publishing, motivational speaking and veteran support services. We have more than 100 veteran-community businesses currently in operation as of 30 June 2020.
