The trust has helped cement the role of the British Monarchy

The idea of creating a charitable foundation came to the prince in 1976, during the final months of his naval career.

The mid-1970s had seen the UK slide into economic decline, ending the era of post-war prosperity and employment.

As the dole queues lengthened, young Britons suffered particular hardships. Rioting, racial tensions and the rise of punk signalled a growing disaffection among the young.

Such activities prompted some to question whether Britain's youth were not in part to blame for their predicament. The return of compulsory military service was just one of the solutions popularly suggested.

Serving his subjects

"[The prince] was concerned about the number of young people who sat around with nothing to do," said Sir David Checketts, a former royal equerry.

"Why not challenge them to use their energy and initiative to help themselves, instead of moping around in cafes? I wrote the initial proposal on the back of a brown envelope while we were on a train."

The trust helped pioneer community projects

The prince took �7,000 from his naval pension and set about bringing that proposal to life. The trust's aim was to build the confidence of those aged 14 to 30, giving those unemployed (or underemployed) the skills, life experience and financial backing to set out on a fruitful career.

Known for his traditional views on such subjects as architecture, the prince's charity has been something of a paragon of innovation. Many of the ideas pioneered by the trust, such as homework clubs, have since been eagerly adopted by government.

The Prince's Trust Volunteers, a scheme which allows young people to gain skills and self-esteem by helping others in the community, also has its echoes in government "New Deal" projects and more recently the Millennium Volunteer drive.

We're very, very keen not to be a soft touch

John Attree, The Prince's Trust

The trust has won many celebrity supporters. The prince's regular fundraising concerts are a veritable Who's Who of pop.

While some stars are just keen to lend a hand, others see the events as a chance to repay a kindness. Welsh chart-toppers Stereophonics in part owe their success to the trust, which once provided a grant to replace instruments which had been stolen.

Not all the money the trust distributes is never seen again. One of the more interesting aspects of its work is the backing it offers to new businesses.

The Stereophonics: thank-you for the music

Flat rate loans are provided for young entrepreneurs who are seen as being too great a risk for the banks to support.

The trust's business manager, John Attree, says this aspect of the prince's foundation is not mere charity.

"We're very, very keen not to be a soft touch. We don't want word to get out that you can come to the trust and get some money."

Detailed business plans and serious market research are the prerequisites for a young person to be considered for the scheme, a level of scrutiny which has paid dividends.

Nothing ventured...

More than 35,000 people have set up their own venture thanks to the trust. These start-ups have a one in three chance of still being in business after three years. Impressive, considering only 45% of normal bank-backed firms can expect to still be trading into their third year.

The trust's 50 top-performing concerns boasts an annual turnover of �150m and employ 1,800 workers.

The Prince wears his heart on his sleeve

James Morton, author of Investing with the Grand Masters, has said the prince's investment record is unrivalled. "There is not a venture trust which can top his results over the last ten years."

The prince may take no dividends from the entrepreneurs he helps, but there are other benefits.

Fiona Rae, a jewellery designer helped by the trust, has just won a Royal Warrant. It seems the 34-year-old's works, including cufflinks, are just the thing the prince likes to give as presents.

Just as trust celebrity supporter Ben Elton has observed, helping others is often a way to help yourself too.