A YOUNG entrepreneur has received a further boost to his new business.

Joe Foxton, founder of Beyond Average, has been given an additional £550 from the John Cracknell Youth Enterprise Bank (JCYEB), following an initial grant last year.

The 21-year-old, who lives in Norton, is the 400th young person to be supported by JCYEB. It is part of pilot project, being run in conjunction with Ryedale District Council, which is aimed at those aged between 13 and 21 who live in Norton, Malton and Pickering.

It aims to encourage youngsters to consider starting and running their own business, and in addition to financial support, the initiative offers practical advice and guidance to get their idea off the ground.

Joe said: “I am absolutely delighted to receive a further £550 from the JCYEB for my business.

“The support they have given has certainly helped me to think about how I go about offering a wider range of products and now having purchased a purchase a vinyl cutter and heat press, I can reduce my costs as I produce a wider range of products myself, which I have identified as potential winners in a very competitive market.

“I can’t thank the JCYEB and Ryedale District Council enough for their ongoing support.

“Not only have they given me two grants to start my business, they have put me in touch with great individuals who can provide excellent services to progress me further with my endeavours as well as personally answering any queries I have had during the start-up period of my business.”

Charles Cracknell, secretary of JCYEB, said: “The panel was extremely impressed to with Joe’s progress, so when he approached us to secure extra funding to purchase a vinyl cutter and heat press that will allow him to produce his own product range instead of having to outsource the production, which in turn will increase his profit margins.

“Ryedale needs more young people like Joe to realise their business dreams and with the support of organisations like JCYEB and Ryedale District Council, they can realise them.”

Charles added: “Joe has been involved in a number of promotional opportunities including #THUDYorkshire, which is a network for young entrepreneurs in Yorkshire, in which he impressed Yorkshire businesses about his product range so much so his range is promoted in South Africa by the Hook up Dinner Network and now he hopes to be involved in a Young Entrepreneurs Market to be held in July in Hull linked to Hull’s City of Culture Celebrations.”

“We continue to hope that young people in Ryedale take the opportunities that the JCYEB offers to them and that members of Ryedale’s business community become mentors for your enterprising young people as well as consider becoming bondholders in our scheme in order to support even more young people.”

The JCYEB has allocated more than £315,000 to 400 young people in Hull and East Riding and is now supporting young people in Ryedale.

The JCYEB also has a bondholder scheme whereby local businesses in Ryedale can give donations to the scheme. The support generated from the scheme will support local young entrepreneurs and those that support the initiative will be recognised through various levels of publicity, demonstrating their commitment to young entrepreneurship and the local economy.