BUSINESS BIO
Where is the enterprise based? London
Key business markets: young people, business investment and support.
1st year of trading
Number of employees: 6
ambassadors
- OTHER AMBASSADORS
- Maria Donoghue-Mills
- Claudine Reid
- Matt Kepple
- Gill Coupland
- Peter Holbrook
- Sam Everington
- « VIEW ALL AMBASSADORS
Tim Campbell
- Bright Ideas Trust
- Founder and CEO
- London
Social Enterprise Ambassador Tim Campbell has combined his experience as Lord Alan Sugar’s first TV Apprentice and his passion for helping young people to offer some fantastic opportunities backed by blue chip support.
Back in 2005 Tim Campbell was working for London Underground as a senior marketing project manager when he heard about a TV programme called The Apprentice. He went on to win the first series of the show and stayed two years at Lord Sugar’s Amstrad empire before leaving to set up his own venture, Bright Ideas Trust, which helps young people start their own businesses.
Tim has always felt strongly about helping youngsters get access to all available opportunities and saw business as a great leveller for those from difficult backgrounds.
‘We get about 30 applications a month from young people and we support the vast number of them through direct investment or business development,’ says the east Londoner.
The social enterprise operates by taking donations from corporate enterprises, such as the Bank of America, and investing the money into young Londoners’ business ideas. These investments are in the form of debt and equity where the loans are paid back, and Bright Ideas Trust takes an equity stake and recoups the money when the business is sold on.
Bright Ideas Trust should get enough back in loans that it won’t need to totally rely on donations. However, Tim plans for there always to be some financial connection with corporates.
As well as the Bank of America, key supporters include global marketing agency WPP, Accenture, law firm Taylor Wessing and audit giant Ernst and Young.
There are no other organisations out there supporting young people at the risky end of business investment
Tim is keen to point out that the Trust doesn’t provide hand-outs. ‘We don’t give grants, we provide initial capital of up to £25,000 to those we support, as well as a dedicated entrepreneurial mentor and professional service advice,’ he says. ‘There are no other organisations out there supporting young people at the risky end of business investment.’
One lucky recipient of the Trust’s cash is Amariyah Shadia Raheem, a 29-year-old from north London, who ran away as a teenager and thought she would never make anything of herself.
‘Last year my partner Jason and I decided we wanted to open a salon, but needed some financial help,’ says Amariyah. ‘Everyone thought we were crazy to start a business in the current financial climate. But then we had the phone call from the trust offering £12,000, part loan, part investment for our company La Bella Hair and Beauty based in Holloway Road.
'We were also given a mentor – Judy Naake – who drove the St Tropez self-tanning range. We never thought we’d get the money and it was such an easy process to go through. Now we’ll hopefully have something we can pass on to our children one day.’
Tim is proud of Amariyah, as he is with all of the young people he has supported so far. Not one has defaulted on a single loan payment, he says.
In addition to his Social Enterprise Ambassador role, Tim is also a Child Ambassador for London and is a big supporter of several organisations for young people including the NSPCC and Connexions.
Quick Facts
- Between November 2008 and June 2009, Bright Ideas Trust helped more than 100 young people.
- Bright Ideas Trust has so far invested in six new business ventures and plans to invest in a total of 30 by the end of 2010.
- At the end of last year, Tim teamed up with Hackney council in east London, to create a 'Bright Ideas borough', with the aim of boosting business opportunities for the area's young people.
