Starting up a business / The Princes Trust

A_Phoenix_of_Tangerine

Hi, has anyone here applied to The Princes Trust to ask for business start up support via their young persons Enterprise program?

I'm asking because I'm interested in applying, but I'd like to hear of other peoples experiences of applying and using the scheme. Any tips or useful pointers?

Do I need to already be producing sales from my business idea, or is an idea enough? How well-planned do The Princes Trust expect your idea and application to be, in order for them to take it seriously and provide assistance (i.e. would I be expected to be able to project likely sales / profits for the next 5 years, in Dragons Den style)?

For one of my potential business ideas, I would like to produce and sell natural skin care products. I have made some successful products using published recipes that I tweaked slightly, however, I am not trained in cosmetology. I'm assuming that a formal qualification would be needed for me to legally sell my own cosmetics? If that is the case, does anyone here know whether a relevant course might be fundable via the Princes Trust loan?

Thanks in advance, forgive me if I sound incredibly naive to those of you who are more savvy and established. None of my family have ever ran any kind of business, so the whole process feels very unfamiliar and alien to me.