Young market traders have doubled their dough after creating big profits in an enterprise education challenge.
In just four days, a dozen 13-18 year olds from Big Creative Education went from drawing board to Walthamstow Market, using interest free micro loans. The group made £50 profit off a £50 loan by making and selling their own t-shirts and tote bags – that is 100% profit!
Our enterprise education experts taught them how to design, cost, sell and market products, write business plans, give sales pitches, and budget.
The Business Battle project, supported by the London Stock Exchange Group, is helping young people learn key soft 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.
“At the beginning of the week I wanted to be a rapper, but now I want to set up my own business.” Aman Guhinya, 18.
“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.