PRIME welcomes new Chief Executive

PRIME, the charity founded by HRH The Prince of Wales to help unemployed people over the age of 50 to get back into work by starting their own businesses, has appointed Nick Bunting as its new Chief Executive.

PRIME’s Chairman Richard Martin says “I am delighted that Nick has agreed to take the post and believe he will lead the charity into its next exciting phase of development. Nick brings experience of the corporate sector from his time at Cadbury’s and Guinness, along with the not-for-profit sector with the Rugby Football Union. He’s also held several Trustee positions in the charity sector.”

Nick started in the FMCG sector working for Cadbury, Guinness and PepsiCo, before being involved in a management buy-out to create the leading premium dry dog food brand in the retail sector. He then spent 14 years with the Rugby Football Union developing many aspects of its operations including funding, planning, resources, facilities, digital and social media.

Nick says “With the recession biting the number of older unemployed people is rising faster than that of young people. Longer-term demographic changes mean there are now more older people out of work than younger people, and this likely to continue. So there is a greater need than ever for PRIME as the only charity working in this sector to assist people to re-engage with employment through enterprise.

“My task is to ensure the harmonized PRIME movement, which includes both PRIME and PRIME Cymru, makes a real impact on this group of people. PRIME has made a great contribution thus far, and I look forward to building on this tremendous work to grow PRIME into an organisation which has the size and influence to produce a significant change. It’s a big undertaking, so we must also raise the issue up the public and governmental agenda.”

PRIME (The Prince’s Initiative for Mature Enterprise) is one of The Prince’s Charities, a group of 20 not-for-profit organisations of which HRH The Prince of Wales is President. PRIME offers a practical package of support for people who are over the age of 50 and out of work or facing redundancy.

The over 50s are particularly affected by unemployment and the recession, so self-employment – or setting up your own small business, is a vital lifeline. In the UK almost four million 50 to 65-year-olds have no paid employment – a third of the age group, and the number is still rising.

Notes

1. Source of figures
The figures are derived from the latest Labour Market Statistical Bulletin, for July 2011, published by the Office of National Statistics, available at www.statistics.gov.uk.

In the quarter to May 2011 there were 3,573,000 people aged 50 to 64 year defined as economically inactive, a rate of 31.5 per cent, as compared to 1,724,000 18-to-24 year olds, a rate of 29.6 per cent. The inactivity rate drops to 14.7 and 14.3 per cent respectively for 25-to-35 and 36-to-49 year olds, as a higher proportion of the middle age groups are in work.

See also Older unemployment is still rising on this site. The figures vary slightly depending on whether you exclude or include full-time students.

2. Interview Opportunities
PRIME’s Chief Executive Nick Bunting is available. Ring 0800 783 1904 to arrange a time.

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