Confidential1 Introducing Young Enterprise Company Scheme 2009/10 Friday 4th September 2009

Confidential2 Agenda About Young Enterprise Key features of Company Programme Running your company The company competition Why should you do it? How to get involved

Confidential3 About Young Enterprise Founded in 1963 National business-education charity Runs a range of programmes for young people aged Supported by local businesses and volunteers Over 210,000 students in UK Learn by doing

Confidential4 Key features of the programme set up and run your own company from Sep - Apr not a game or a simulation – a genuine business elect a board of directors open a business bank account with HSBC raise share capital market & finance a product or service regularly review and record progress liquidate the company – make a profit (and pay tax on it!) present a report and accounts pay dividends to shareholders

Confidential5 Running your company Get stuck in –Negotiate with suppliers –Set prices –Market & sell your product or service –Keep accurate financial records –Attend trade fairs and training workshops Weekly meetings –Agenda issued in advance –All directors attend –Key decisions taken –Tasks allocated –All decisions and tasks recorded and issued to all directors Teacher & Business Adviser –Support, motivate, guide

Confidential6 Company Competition At the end of the academic year Runs at local, regional and national levels. A variety of awards are at stake including the UK Company of the Year title which includes a trip to compete in the European finals. Competitors summarise their year in business and the skills they have learned, through their end-of-year report, an exhibition stand and a short presentation.

Confidential7 Why should you take part? It’s really good fun!! –but hard work with all of the responsibilities of any other real company personal development: –working in a team –improved communication skills –enthusiasm and self confidence –taking responsibility and initiative –time-management skills –problem-solving

Confidential8 Why should you take part? cont’d Gain an understanding and experience of: –how a business works –how wealth and employment are created –management –marketing –innovation and product development –financial management –sales, customer care Optional qualification based on written exam Chance to represent school in the competition at the end of the year Looks good on your University application form And who knows……maybe even become rich!!

Confidential9 How to get involved Form a group of around 6 to work together Select a product or service Create a simple business plan Be prepared to present plan to a group of teachers and business advisers Best three will be selected to join the programme for 2009/2010 Selection panel to be arranged in around 2 weeks’ time

Confidential10 Initial business plan Plan must include at least the following: Describe product or service Who are your intended customers? How many do you expect to sell? How will you reach your customers? How will you market your product/service? What are your expected costs and sales? What are the main challenges you expect to face?

Confidential11 Choice of product or service If selected, you will have the chance to change your mind about product later Following products are not allowed –items of food for humans or animals –cosmetics or any chemical items –electrical items that plug into the mains

Confidential12 And finally….. Any questions? Do take a look at Young Enterprise website