Young Enterprise is an exciting national scheme that allows girls in Year Ten and Upper School One the opportunity to create their own company and run it for the duration of the school year. Production, marketing, keeping accounts, presentational skills, people management and sales promotion are all part of the experience of setting up and running their small business. Recent products have included cooking kits for children, expandable bags, jewellery, cards, sweet earrings, fleece scarves, painted flowerpots, photo frames, tie-dyed underwear, and fabric-covered notebooks to name a few.
Business advisors attend the company's weekly meeting and are an invaluable resource for budding entrepreneurs. However, these formal meetings are only a small part of the work involved in marketing a product successfully: girls spend time creating their products and liasing with each other to discuss strategies for selling their products.
Companies also take part in the competition element of the scheme. This involves producing a ten page company report and attending the area presentation. At this event they make a five minute presentation and set up a trade stand that has to be manned by a small team, who are asked questions about the company by the judges. Success at this level ensures selection to the county final. Being named the best company at county level entitles the company to compete at regional level. Regional champions go on to National Finals, and if successful there, the European Finals, usually held in Strasbourg.
At the end of each academic year the companies are wound up, dividends paid to shareholders and company accounts are produced. Achievers may also take an examination that assesses their understanding of business principles that they have encountered over the preceding year.
Top Five Reasons to Participate in Young Enterprise (from a recent survey of YE Company Programme Alumni):
1. Participation in the Young Enterprise Company Programme correlates with better future earnings.
2. Young Enterprise Company Programme alumni are twice as likely to start their own business as their peers.
3. The YE alumni are more passionate about their jobs than their peers with 77% of alumni fulfilled and engaged by their jobs, compared to only 59% of the Control Group.
4. YE alumni are more likely to get involved in voluntary work (55% compared
to 39% for the Control Group).
5. Amongst business-owning alumni, Young Enterprise was ranked as the most
significant experience they drew upon when establishing and building their venture.
Young Enterprise is not just about preparing pupils for business - it enables them to develop life skills such as teamwork, self motivation and decision-making, which then gives them
lasting confidence in their abilities.
More information about Young Enterprise