In 2006, YTKO set ambitious targets to support 20,000 businesses, raise £50 million in finance and create 10,000 new jobs, by the year 2020. This was a social mission, with all this work being done on a non-for-profit basis.
This ambition was realised a year early and YTKO has helped 22,500 businesses, with an estimated collective sales of £2.16 billion, reflecting our social impact.
We are delighted that we have surpassed all our targets and earlier than planned. We commissioned an independently evaluated body of work to calculate our Return on Investment, which found our total impact was £348 million, representing a Return on Investment of £10.30 for every £1 of funding.
Our Social Impact
- 22,508 businesses were supported (more than the business population of cities such as Bristol (20,495), Edinburgh (21,595) or Glasgow (22,215).
- 10,014 jobs were created, almost as many as the eight Midlands Enterprize Zones (10,833) or 14 Northern Enterprise Zones (10,832)
- £2.16 billion in total sales was earned by the supported businesses (more than the annual tunover of household names like Admiral Insurance (£2.18 billion), Microsoft UK (£2.14 billion) and the London Stock Exchange (£2.14 billion)
- The growth of YTKO supported businesses was an estimated increase of £263.3 million Gross Value Added.
- Survival rates for YTKO businesses was higher than average, with three year survival rates of 76.3%, compared with 59.1% (ONS Business Demographics)
Entrepreneurs are vital to the growth of the local and UK economy. Start-ups and growth businesses are vital to a flourishing economy, as is the right support at each stage of the business journey.
the Convergence Partnership for Cornwall & Isles of Scilly