The Department for Business, Innovation and Skills has announced that it is to pump £1 million into The Prince's Trust, so the charity can provide support for youngsters who have business plans they want to make a reality and create UK jobs.
Some of the 630 young people who take part in the Be Enterprising scheme will have the opportunity to see their initial ideas transformed into their own business.
Business minister Pat McFadden said: "It is inspiring to see young people turning ideas into commercial success. It shows that irrespective of background, with the right support, young people have the drive and ideas to build successful businesses."
The minister added that teenagers with viable ideas can become entrepreneurs and contribute to life in this country by helping to support the economy and UK jobs.
Mr McFadden recently took part in talks to try and secure the future of automobile roles at the Vauxhall plant on Merseyside.