The TestTown initiative, devised by the Carnegie UK Trust, was launched to help provide a welcome boost to trading and footfall to high streets up and down the country and to help encourage more young people into business.
Seven regional TestTown heats will be held between May to August in Bury St Edmunds, Manchester, Middlesbrough, Rhyl, Kirkintilloch, Perth and Coleraine. The winners from reach region will secure £500 start-up funding for their idea and will then join each of the regional winners to participate in a grand final in the autumn, of which the location is still to be announced.
Open to those aged 16-30, the competition aims to fill the void left by the 50,000* vacant shops in Britain’s town centres. As well as aiming to inject new life into the high street, with just three per cent of small businesses run by under-35s** and more 16- to 24-year-olds (54%) now out of work than any other age group***, TestTown also offers a lifeline to young people with an entrepreneurial spirit but little means to turn their idea into reality.
TestTown opened for applications at the start of March and an influx of entries have already been received. With just one week to go, the competition’s organisers are urging final entries to come forward.
Jim Metcalfe, TestTown Programme Leader at the Carnegie UK Trust, said: "If you have ever dreamt of making your business idea a reality, then now is the time to go for it! We will provide you with the support to get your business off the ground and you will have the opportunity to trade against competitors, just as you would in a normal business environment.
“In the age of online shopping and social media, town centres need to adapt to woo local people back into them and we have deliberately selected a diverse range of towns for our regional heats. Some are thriving; others have challenging retail environments; and some attract more tourist traffic. Each brings a unique aspect to TestTown and should provide really interesting results.
“Despite things remaining difficult for high street traders, analysis out by accountancy firm Delottie this week revealed that the high street is showing great resilience and shows great capacity for re-invention. This is really what TestTown is all about. We want to help provide a boost to high streets across the country with new and innovative business models.
“We wish applicants the very best of luck!”
TestTown will close for applications on 16th April. Find out more here: www.testtown.org.uk. Follow the progress on Twitter and join in the town centre debate @TestTown2014
* The Local Data Company, which monitors more than 2,000 town and shopping centres and retail parks.
** Age of membership of Federation of Small Businesses using base of 9,849 SMEs in The FSB ‘Voice
of Small Business’ Member Survey
About TestTown
TestTown has been in development for over two years. The Carnegie UK Trust ran a pilot event in 2013, which created a number of successful businesses and shaped the lives of those who took part. Sales over of £10,000 were taken during the TestTown week and footfall in the trading streets doubled. The event was won by Jenna Fairgrieve and Emma Pauley, owners of ‘Back on the High Street’, whose concept offered artists and crafters cheap shelf rental to serve as a platform for their work. Emma has since gone onto launch ‘Miss Pauley’s’, which has turned this business idea to reality.
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