FUNDRAISING NEWS: Prince's Trust looks to raise £3m from corporate donors

The Prince's Trust has launched a major new fundraising initiative that is expected to raise £3 million to support around 1,000 young entrepreneurs around the country.

The campaign, which is known as Enterprise Avenue, will see substantial corporate donations being recognised by the planting of a row of trees along Farringdon Street, London.

The first tree was planted on Thursday by Mayor of London Ken Livingstone, chairman of the Prince's Trust, Sir William Castell, and a group of young people who have been helped by the trust.

The avenue is intended to symbolise the new shoots of young business that will be supported through the fundraising efforts.

The project already has 11 corporate sponsors on board and has raised £1 million.

The money will be used for the trust's business start-up programme, which provides low-interest grants and a mentor to young people aged 18-30 who are unemployed.

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