The mentoring program helps more than 1,500 young people create and consolidate their businesses

• The survival rate of participating companies is 87% after 5 years.
• Autoocupació, a local partner of Youth Business Spain, develops the mentoring program in Catalonia.

Barcelona, June 29, 2018 – Youth Business Spain has presented in Madrid the study “Evaluación del impacto socioeconómico del programa de mentoring de Youth Business Spain”, a study prepared by PwC that assesses the impact of the mentoring program on the program’s beneficiaries, their businesses, and society in general. The mentoring program offers a personalized support methodology through which business owners share, for one year and as volunteers, their experience with entrepreneurs who have started their business projects. The study concludes that 83% of beneficiaries highlight the significant role of mentoring in improving their job satisfaction, that 94% of people who were previously unemployed are currently working, and that the survival rate after 5 years for participating companies is 87%, more than double the Spanish average of 41%. Furthermore, the study shows that companies participating in the program double their turnover and increase their workforces by 60%. Furthermore, the study shows that companies participating in the program double their turnover and increase their workforces by 60%. The success of the YBS mentoring program, which is supported by the JP Morgan Chase Foundation, translates into more than 1,500 young people who have created and consolidated their businesses between June 2013 and June 2017 with the guidance of a volunteer mentor who, for one year, shared their time and experience with young people who have launched their business projects. Marc Coloma, one of the entrepreneurs who participated in the mentoring program and CEO of Foods For Tomorrow, highlights that “having someone with so much experience to share concerns with, feel heard by, and discuss solutions with, is one of the greatest gifts an entrepreneur can have.” Youth Business Spain develops the mentoring program through local partners established in 12 autonomous communities that offer young entrepreneurs, among other services, personalized and free support. Autoocupació, one of the 11 local partners of YBS, offers the mentoring service to young entrepreneurs between 18 and 35 years old with the aim of helping them develop their skills and consolidate and grow their businesses.