Young Enterprise UK and its ten regional charities across England and Wales have merged into one £7m enterprise education charity called Young Enterprise.

John May, chief executive of Young Enterprise said: “Young Enterprise has taken steps to unite the English and Welsh Young Enterprise charities to form a stronger, more efficient and streamlined organisation.

“Given the major changes in funding from the public sector, it is imperative that Young Enterprise evolves to meet the consequent challenges in a pro-active and cost effective manner to ensure we continue to develop and deliver an engaging innovative and exciting offering to young people through their schools, colleges, universities and local communities.”

A Young Enterprise spokesman added that their would be restructuring at senior level at the new organisation and it would recruit a new board of trustees.

Young Enterprise Northern Ireland and Young Enterprise Scotland will remain independent charities, but be licensed by the newly-merged Young Enterprise.