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MyBnk North East – Young people making money and a difference…

Our franchise partner, Five Lamps, has been helping young people across the Tees Valley with MyBnk programmes for over a year now.

Despite being the UK’s smallest region, the area has some of the most entrenched unemployment and debt problems in the country. Outside of London, the North East and Cumbria is where the need for financial and enterprise education is greatest – it is why we are there.

A taste

In November 2012, seven teenagers from behavioural referral unit, I-Space, at North Shore Academy, took part in an Enterprise-in-a-Box programme to develop their business skills, by doing it for real.

The challenge, sell as many ethical products as they could in the run-up to Christmas and raise awareness of social enterprise.

Get it, Do it, Use it

Over 5 weeks the company devised a pricing strategy, identified their target audience and improved their confidence in selling products to staff and students at the school.

The items that the company sold were Guerrilla Gardening SeedBombs and an African Prison Project CD called Freedom Cry. Pupils quickly realised they were selling a story as well as an item and that story helped them handle questions that potential customers were likely to ask.

The company soon excelled in ideas generation and it was their marketing ideas that helped the company to SELL OUT of their items, making a healthy profit of £64! The profits will be used as seed-funding in 2013 to start a business of their own and carry on their enterprising attitudes and amazing selling techniques.

 

What did they learn?

 

Percentage of participants reporting good or better:

Before the programme:

After the programme:

– Understanding of what social enterprise is

14%

100%

– Ability to identify a target market for a product or service

29%

50%

– Ability to work out expected profit for a business

29%

100%

– Confidence in their ability to talk to people they don’t know

57%

67%

– Understanding of the importance of teamwork

17%

100%

– Confidence in using enterprise skills in the future

17%

100%

– Confidence in taking on responsibility

17%

67%

– Intention to set up their own business in the future

33%

83%

 

What did young people think?

“It was very good and makes you feel everyone can do it”

What did the teacher think?

James Mellon, Teacher of the Student Behavioural referral Unit known as I-Space noticed a huge improvement in the learner’s skills confidence and understanding and commented on the programme :

“An excellent programme, expert delivery and perfect concept. Pupils engaged in every task and were given the opportunity to be successful. I would highly recommend the Enterprise-in-a-Box programme”.

MyBnk is currently offering a limited number of free programmes to schools and youth groups. Contact the London, Cumbria or Tees Valley offices for more info.

 

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