London MEP Syed Kamall helped MyBnk kick off another action packed Global Entrepreneurship Week by helping 200 pupils at Ark Academy Wembley win enterprise loans.
This week our education experts are helping nearly 1,000 young people learn about business by doing it for real in over a dozen secondary schools and youth groups. From social enterprise projects and youth-led banks to Dragons Den style eliminators, get ready to meet the front line of enterprise education!
Back my Business gives young people a chance to create their own business using money and interest free loans granted by MyBnk. The best groups – as chosen by other pupils in the school – are then given the opportunity to sell these products at a market and attempt to make a profit.
There were plenty of interesting and exciting ideas being suggested by the groups, including a tennis ball tombola and a hot chocolate and cookie stand.
“My Group’s idea is to sell homemade cupcakes and cookies. While a lot of other groups might have the same idea, we are going to make ours unique by giving them all a christmas theme and decorations, setting them apart from the others. Back my Business is great because it teaches us how to run a business and sell things.” Paris, 11.
“This session has been so great because it has encouraged us to develope our imaginations and create exciting money making ideas. Our idea is to have a ‘Santa’s Grotto’, where people pay to meet santa and get a small present or sweet. We might also sell tree decorations depending on how much spare money we have.” Ana-Maria, 12.
The sessions were made all the more exciting by the visit of Guy Rigden, MyBnk Co-CEO and Syed Kamall, one of London’s MEPs since 2005, who were both kind enough to talk to each of the groups about developing their ideas and how to create a unique and marketable product in order to maximise profit.
After the morning sessions were finished, MEP Kamall spent some time interviewing some of the young people who had taken part discussing their ideas, followed by interviewing MyBnk’s Quality and Training officer Ben Sadler about the overall progress of the morning session and how well some of the young people had handled the programme.
MEP Kamall then gave a brief assembly where he discussed the importance of entrepreneurship, revealing a bit about his own experiences in business, before the sessions were resumed with a whole new group of students in the afternoon.
With so many great ideas already put forward, it will be really exciting to see which groups are selected to move forward on to the next stage!