Young market traders have doubled their dough after creating big profits in a MyBnk Business Battle enterprise challenge.
In just four days, a dozen 11-14 year olds went from drawing board to Ridley Road Market, London, using interest free micro loans. The group made £100 profit off a £100 loan by making and selling their own baked goods and henna tattoos – that is 100% profit!
“It was so awesome. The best thing I learned today was the importance of team work. I loved the experience, it showed me a different side to business. All of this will add up. My dream goal is to have a drone business. My confidence has improved massively. This will help when I go to new schools I will quickly make friends and make important links. I know how now!” Young trader, Basheer Abdul Azeez, 11.
Our experts taught them how to design, cost, sell and market products, write business plans, give sales pitches, and budget as part of an IntoUniversity project.
The Business Battle project, supported by MUFG Bank, is helping hundreds of young people in East London learn key employability skills like negotiating and customer interaction in London’s poorest boroughs.
MyBnk has scores of funded money and business workshops available to local schools and youth organisations.
“It’s been fantastic to witness the transformation of these young people in just five days. This type of education is vital to a young person’s development, either in enterprise or employment.” Guy Rigden, CEO, MyBnk.
For more information or to attend a future session, please contact declan@mybnk.org or 020 3581 9920
