Over the past decade, during times of economic plenty, the number of young people not in education, employment or training has consistently hovered above 8 per cent; often it has been more than one in ten. So why are we surprised that, during a recession, nearly one in five of 18 to 24-year-olds is out of work?

The issue of youth disengagement goes far deeper than unemployment figures alone show. Those who make up the ranks of Neets — those who have spent a long period not in education, employment or training — are also more likely to take drugs, become young parents, or suffer from mental illness.

What we all want is for young people to contribute fully to our national life. This means having a job. The Government, of course, has a critical role to play in addressing this problem, but in our experience, businesses can help too. To date, the private sector remains a largely untapped resource, which is odd, given that the majority of these young people will, with some help, end up in the private sector.

But for too long, the state, the voluntary sector and businesses have been working in isolation from each other; no doubt doing their best, but failing to take a broader view of how they could work effectively together. Too many businesses that we speak to say that they cannot identify shared objectives with voluntary sector organisations; in fact they perceive them as having very different cultures and skills.

At Fairbridge — a charity that supports inner-city youth — we have been determined to find ways to collaborate with the business community. The Engage report, which we publish today, sets out our thinking.

It identifies ways to extend and strengthen the relationship between business and the voluntary sector. During our research it quickly became clear that the most successful partnerships were not based on one-off cash donations or short-term initiatives. The strongest partnerships were those that had created benefits for both parties; enabling the relationship to survive even in cash-strapped times.

Many businesses have yet to recognise the hugely positive results that can be achieved by working closely with charities. The strongest partnerships often start small — the company offers rooms for the charity to have meetings in, or gives technological support or shares the skills of their accountants or marketing department. But the relationship can deepen, involving everyone from the management team through to the “shop floor”.

These kinds of partnerships are invariably the ones that offer the greatest mutual benefit: businesses gain the opportunity for staff to develop new skills, charities gain the benefit of a wider range of expertise and young people have an insight into the world of work.

Fairbridge offers businesses the chance to take part in a range of activities such as away-days working with young people and Apprentice-style challenges. These promote skills for employees such as team working. But as well as that, these events foster greater loyalty and morale as employees feel that their employer is making a positive contribution to their community.

One key benefit of getting private enterprise involved is that it gives young people a different view of the world of work, dispelling the notion that work is boring or just about pushing paper around. Mentoring schemes, for example, can help to spark ambition or provide some motivation. Young people also benefit from meeting adults who do not represent the institutions of the state and who aren’t teachers or social workers.

Personally we have both seen the remarkable results that are possible when businesses and charities work together. At Fairbridge’s film and animation awards last year — which were only possible thanks to corporate support — we shared the stage with a young woman from one of the toughest estates in Manchester.

The seemingly insurmountable challenges she had faced growing up had sapped her confidence, leaving her feeling as if she had little chance of getting on in life. However, on that night she gave a remarkably composed and moving speech.

The support she had received at Fairbridge had given her the self-esteem and belief necessary to turn her life around. Her inspirational performance left us certain that if business and charity could come together to help her, then it could be part of the solution to the problems that blight so many of our most deprived communities.

All young people have an uphill struggle in the current economic environment — more so those who have struggled in the classroom or who lack the skills to find a job.

We need to bust the myth that businesses and charities don’t have common aims. Only by working together can we give young people a future and help our businesses succeed.

Damon Buffini is president of Fairbridge and chairman of the private equity firm Permira; Andrew Purvis is the chief executive of Fairbridge

Times Recommends

• Caesar & Cicero: Balls & Mandelson
• The anti-sex brigade are the worst
• Small act of charity won’t change the world