The National Market Traders Federation (NMTF) has launched a government-backed national training scheme for new market traders.

The 32,000-strong federation unveiled NMTF First on national television and radio this week as a ground-breaking initiative to provide jobs, financial independence and career opportunities for the unemployed and those faced with redundancy as a result of government cutbacks and the continued job cull in the private sector.

It is the first ever national training scheme for would-be market traders and has the backing of the department for communities and local government as well as MPs and peers of all three major parties.

The federation worked with management consultant The Retail Group and conducted extensive research for 11 months, interviewing more than 600 long-standing traders with an average 16 years trading each.

NMTF ceo Joe Harrison said: “NMTF First will get will help traders get through the first 12 months, which is a hard period in any business. The course costs £100 and is an A5 folder with 15 modules and 14 guides. It covers book keeping, sourcing product and engaging with customers among other topics.

“The aim is that stall-holders can take it to the stall with them. We have had good interest from local authorities and market operators interested in buying the project and engaging with new traders.”

The £100 price-tag also includes a year’s subscription to NMTF, which usually costs £90.

Harrison pointed out that even Tesco, Morrisons and Marks & Spencer began as a market stall.