£200 profits for young entrepreneurs in Business Battle!
Young creative entrepreneurs have doubled their dough in their first ever enterprise experience at East Street Market.
The 9-13 year olds from IntoUniversity were given micro-loans of over £100 and just four days to bring their money making ideas to market and they doubled their dough.
Customers cleared the traders out of their handmade mugs and confectionery in just a few hours making 100% profit on their loans.
Education charity MyBnk trained them in everything from product development and writing a business plan to customer service.
The traditional routes to employment are changing and projects like Business Battle provide that critical first step to young people becoming their own boss.
MyBnk offers financial education and enterprise experiences to secondary schools and youth groups and are also part of the new £1m Big Lottery, Lambeth FACE (Financial Advice and Confidence Education) project.
It has helped me prepare for the future and being a successful business woman.It has helped me to realise that no-one becomes successful on their own” Rachel Daramola, 11.
“I learned lots about marketing. It was very good and it helped us to now how it feels to run a mini business! Justin Engmann, 13.
“If ever young people needed an entrepreneurial attitude to life it is now. We have 9-year-olds writing business plans and teenagers budgeting! With us, young people learn key life skills by doing it for real”. Lily Lapenna, MyBnk CEO
August 20, 2014 in Uncategorized.Bookmark the permalink.