National accountancy and advisory firm MHA, the UK member of Baker Tilly International, has launched a new charitable foundation aimed at improving financial literacy among young people.
The MHA 1892 Foundation will offer grants of up to £3,500 to initiatives that promote financial education and help young people develop key career and life skills. Funds will be raised through charitable activities across the firm, including at its Kent office, with additional match funding from partners.
The nationwide launch follows a successful pilot in the North West, introduced in 2023, which has already awarded eight grants to organisations supporting social mobility and widening access to financial education.
The foundation is named after the year North West accountancy firm MHA Moore and Smalley, which is now part of MHA following their April 2024 merger, was originally established.
Glen Thomas, Partner at MHA’s Kent office, said: “When MHA and Moore and Smalley formally merged last year, we combined not only our operations but also our shared commitment to creating positive social impact. The MHA 1892 Foundation reflects that commitment.
“Colleagues across the UK already raise substantial funds for community causes, particularly those focused on financial education. Bringing these efforts together under a single national foundation allows us to coordinate our impact and empower our teams.
“The MHA 1892 Foundation will provide a meaningful way for our people to support the communities in which we work, while helping tackle an issue of national importance.”
A growing body of research shows that low financial literacy among young people is affecting the UK’s financial wellbeing and long-term economic prospects.
A recent Money and Pensions Service report found that 76% of teachers believe most pupils leave school without the financial knowledge needed for adult life. Meanwhile, a Federation of Small Businesses study reported that around a quarter of young people struggle with financial understanding when starting or running a business.
In November, the government announced curriculum changes, which are set to take effect in 2028, to strengthen financial education in schools.
Glen Thomas added: “Ensuring that every young person has access to financial education is essential for building a brighter future. The government’s curriculum changes are a welcome step, but they won’t take effect for several years and cannot solve the issue alone.
Through the MHA 1892 Foundation, we will support organisations working with young people from all backgrounds, helping them gain the financial confidence and knowledge they need to navigate an increasingly complex world.
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