NatWest Group plans to help more than 10,000 young people into employment, training or entrepreneurship over the next two years through a new place-based scheme, with the first pilot starting in Greater Manchester in January.

The NatWest Youth Offer will be run with the Greater Manchester Combined Authority and local partners. The bank said a second pilot is in development with the East Midlands Combined Authority, with an aim to extend the offer across the UK.

According to NatWest, the scheme will combine financial and future skills education, work experience, early careers routes and support for young entrepreneurs. The bank said the aim is to create clearer routes from education and skills development into work or starting a business.

NatWest, which describes itself as the UK’s biggest bank for business, said it works with more than 55,000 businesses and founders in Greater Manchester. Through the pilot it will use those business customers, alongside its own branches and its Spinningfields office, to give young people exposure to different workplaces, sectors and career paths.

Three Manchester businesses will work with the bank to start the work experience activity: manufacturers Polyflor and NorthStone Homes, and hospitality firm Permanently Unique Restaurant Group.

The first pilot will include structured work experience and T Level placements across NatWest branches, offices and participating business customers. It will also offer local connections into NatWest apprenticeships, internships, graduate roles and other employment, and tailored support for young people building their own business through the bank’s Accelerator network, including its Manchester hub.

NatWest Group chief executive Paul Thwaite set out the plans at the bank’s Manchester Accelerator hub, where he was joined by Pat McFadden, the Work and Pensions Secretary, and Bev Craig, the Mayor of Greater Manchester.

Thwaite said: “Opportunities shouldn’t depend on where you live, and that’s why we want to use our national presence along with our longstanding business relationships to make it easier for young people to see and access more opportunities closer to home.”

The scheme sits alongside the government’s Youth Guarantee. The Department for Work and Pensions said in March that additional funding took total investment in the Youth Guarantee and the Growth and Skills Levy to £2.5bn over three years, including a £3,000 grant for employers hiring unemployed 18 to 24-year-olds.

McFadden said: “It’s fantastic to see a leading employer like NatWest back the next generation. By providing support to budding entrepreneurs, this will give young people the confidence and connections to take their first step into work and to build a lasting career.”

He added that the government was delivering its wider Youth Guarantee “to create nearly one million opportunities, backed by £2.5 billion”.

Craig said: “Every young person in Greater Manchester should have a clear route from education into a rewarding career and employers have a vital role to play in making that happen.”

Claire Ward, the Mayor of the East Midlands, said: “I’m delighted that this pilot is coming to the East Midlands.”

The launch follows figures from the Office for National Statistics showing an estimated 981,000 people aged 16 to 24 were not in education, employment or training in April to June, 13 per cent of the age group. Research for Alan Milburn’s review of the issue found employers cited soft skills and work readiness as the biggest barrier to hiring young people.

The Youth Offer will also include a Young Founders Community for 18 to 25-year-olds who want to explore entrepreneurship or develop and scale an existing business idea. It will launch nationwide in January.

The community builds on NatWest’s network of 18 Accelerators across the UK and its partnerships with universities, including Manchester. The bank set out plans earlier this year to expand its Accelerator community to 50,000 entrepreneurs in 2026.

Members will be able to connect with other entrepreneurs and access mentors, specialist support, learning opportunities and partner benefits, both in person at the hubs and through the Accelerator App.

Recent NatWest research found that 42 per cent of teenagers are interested in starting a business or side hustle, motivated by a desire for greater control over their future.

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