Young Enterprise
Today, young people need to be more adaptable than ever before, prepared to change career direction in response to opportunity and to learn new skills throughout their working lives. In other words, they need to be enterprising.
Young Enterprise's Company Programme gives pupils each year the opportunity to prepare for this working life through the experience of running their own company, supported by volunteer Advisers from business.
Pupils in lower sixth set up and run their company over the course of one academic year. They elect a board of directors from amongst their peers, raise share capital, and market and finance a product or service of their own choice. At the end of the year they present a report and accounts to their shareholders.
Achievers gain experience of the real world, taking responsibility and being accountable to their shareholders for the running of the business. They attend Trade Fairs at which they sell their product or service.
Pupils are also entered in for the Young Enterprise Examination offering a recognised qualification (OCR accredited), and an annual competition to identify the top companies in the UK and Europe.
Benefits to students
As a result of running a YE company, pupils gain:
· An understanding of how a business works and how wealth and employment are created.
· The ability to work in a team.
· Improved communication skills.
· More enthusiasm and self-confidence.
· A willingness to take responsibility and initiative.
· Time management skills.
· Experience of key business functions such as marketing, financial management, sales, customer care and personnel management.
Competition
At the end of the academic year, the Young Enterprise companies have the opportunity to enter a competition that runs at local, regional and national levels. A variety of awards are at stake including the UK Company of the Year title and a trip to compete in the European finals.
The company present their company and the skills they have learnt through their end-of-year report, their annual trading and profit and loss account and balance sheet, an exhibition stand and a short presentation.
Judges look for innovative approaches to meeting the challenges of running a company. They also look for flair, creativity and enthusiasm at each stage of the judging process.
Young Enterprise Company 2008 - 2009
This year the Young Enterprise group is called Flaxco. They are SELLING a range of products this year; including a CD, DVD, Candle bag, and online gaming.
Flaxco recently attend a trade air in Ballymena. They had a very successful day and sold lots of products. The company came away with two awards:
1. Best Product
2. Best Personality – Ross McClean
