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

1. Introducing Young Enterprise Company Scheme 2009/10 Friday 4th September 2009 Confidential

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

3. About Young Enterprise • Founded in 1963 • National business-education charity • Runs a range of programmes for young people aged 4 - 24 • Supported by local businesses and volunteers • Over 210,000 students in UK • Learn by doing Confidential

4. 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 Confidential

5. 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 Confidential

6. 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. Confidential

7. 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 Confidential

8. 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!! Confidential

9. 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 Confidential

10. 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? Confidential

11. 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 Confidential

12. And finally….. • Any questions? • Do take a look at Young Enterprise websitewww.young-enterprise.org.uk Confidential