CITY A.M. founder Lawson Muncaster joined financial and enterprise education charity MyBnk and teenagers from IntoUniversity at a challenge to take ideas from the drawing board to Brixton market in five days.
Young market traders doubled their dough after cooking up big profits in an enterprise education challenge. See the full story, here.
In just five days, a dozen 11-14 year olds from IntoUniversity went from drawing board to Brixton Market, using interest free micro loans. The group made £160 profit off a £80 loan by making and selling baked goods.
“I wish MyBnk was around when I was starting out my business! Supporting entrepreneurship skills is key to building a thriving economy and is an opportunity to reduce youth unemployment across the UK. MyBnk’s enterprise programmes puts young people’s new business skills into action with tangible outcomes. By starting from an early age we can ensure confident, resilient and engaged citizens ready to sell Britain to the world. I’d encourage everyone with a stake in our future to contact them.” Lawson Muncaster, Founder & Managing Director, City AM.
Our expert Education Officers taught them how to design, cost, sell and market products, write business plans, give sales pitches, and budget.
The Business Battle project, supported by players of People’s Postcode Lottery, is helping young people learn key soft skills like negotiating and customer interaction in London’s poorest boroughs.
“Its good fun and practice for the future. As I want to become a fashion designer and the challenge enabled me to find out key areas of business that I miss out on in school. I learned how to be consistent, and it boosted my confidence. Before this I was unable to speak to strangers because of my shyness. Now I feel like I can conquer the world!” Batseba Eyassa, 13.
“It’s been a transformation! We’ve seen young people, who are not necessarily inspired school, come alive and be a lot more responsible, and they’ve 100% boosted their confidence massively. It’s been great to see them grow and develop into young entrepreneurs.” Beanie, Youth Worker, IntoUniversity.
“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.