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GEW – Day 2, Social Enterprise

The second day of Global Entrepreneurship Week has fallen and our attention turns to social enterprise with our dedicated Enterprise-in-a-Box programme with young people at New Regents College Pupil Referral Unit.

The Government defines social enterprises as “businesses with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.”

Enterprise-in-a-Box is a step-by-step guide get young people to set up their own social enterprise. Workshops take participants on the journey of making a profit while at the same time they are helping people and the planet by selling ethical products. In today’s session young people split into groups and received a box of products to sell, from this they had to create their own business plan on the best ways they would market their product.

“I think the session is important because it’s teaching us things we’ll have to do later in life, it’s very important, you have to know the math! I want to be self-employed when I’m older because I want to be a leader. I took in lots of information today, knowledge is power and this was a good lesson.” Ozan, 16.

MyBnk trained the groups to sell and tell the story behind their products, but they decide the unit price and how to market it.  Proper planning and teamwork is key. We will see how they do over the next weeks.

Most students came up with fantastic ideas of ways to market their product, thinking about the best places to sell so people would buy from them. A few suggested going to Brick Lane market to sell there as well as other similar markets and some decided to try putting up posters in local flower shops. One group even started coming up with their own song to sing to try to market  called ‘Soak it, Throw it, Grow it’!

“I enjoyed this because we learnt how to be independent and think of our futures. I’ve learnt important selling skills like communication skills and that you have to be smart with your customers. I want to be a builder when I’m older, I wouldn’t mind having my own building company as well. The MyBnk session today was good.” Brandon, 15.

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