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Young Business Minds - The Marketing Eye unveils an exciting new competition for students

logo_v1.1_small.pngThe Marketing Eye is making its own contribution to Start-Up Britain by unveiling an exciting new inter-college competition for year 12 students - giving them a valuable insight into the world of business.

Young Business MindsTM is being supported by four local colleges in its inaugural year - Uckfield Community Technical College; Uplands Community College, Wadhurst; Beacon Community College, Crowborough; and Heathfield Community College.

"I am a passionate believer in the talent and enterprise that exists in young people and feel now more than ever, that those of us in business have a responsibility to encourage students to consider running a business as a viable career choice." says Neil Edwards, Managing Director of The Marketing Eye.

He adds: "Having spoken to a number of local schools and colleges, I realised that teachers were disillusioned with schemes like Young Enterprise and were looking for a new challenge for their business students. So, in collaboration with business-studies teachers, we have developed Young Business MindsTM."

The new competition will give students practical experience of:

  • Conceiving and developing a business proposition.
  • Considering and managing the range of requirements needed to start and run a successful business.
  • Acting in an economically responsible manner.
  • Learning to meet deadlines and the importance of attention to detail.
  • Presenting to leading local business people in a ‘pitch' scenario and improving confidence and presentation skills.

Students will be divided into teams of four and assigned roles, comprising a managing director, a marketing director, a finance director and an operations director. The competition will launch in colleges on 13 June, with the inter-college final on 30 June and prize-giving the following week.

The teams will need to agree on a product or service idea and develop their business plan inside 20 hours of lessons. The plan will need to be documented into a written report and then pitched to a panel made up of local business people.

Unlike Young Enterprise, the students won't have to implement their ideas, leaving them free to stretch their imaginations. Their business plans must, however, be credible, meaning that a plan for a High Street retail business can have as much chance of winning as a concept for the next FaceBook.

"During the competition, our team at The Marketing Eye will be on hand to lend support via designated sessions with a team ‘mentor' and with hints and tips on our FaceBook page," says Neil Edwards.

The schools will select two teams each to send through to the final on 30 June. The finalists will be required to pitch to a panel of local business people at The Marketing Eye's offices in Uckfield. The judging panel will comprise: Neil Edwards, Managing Director, The Marketing Eye; James Duggan, Partner, with accountant Simmons Gainsford ; a representative from the law firm Rix & Kay and another member, to be announced soon.

"With the Government's commitment to enterprise under the ‘Start-Up Britain' banner, there can be no better or more important time to be launching this initiative," says Neil Edwards.

Adds Sara Ellis, Curriculum Leader, Business & Economics, Uckfield Community Technical College: "Young Business MindsTM gives an ideal opportunity for our students to practice their team-working and put the theory they have learned for AS exams into practice. This is perfectly timed to get them to do something different."

She continues: "The real business involvement with The Marketing Eye and the competition element with other local colleges stops it being just another school activity. I hope students will thoroughly engage and find it a really memorable learning experience."

Every pupil who successfully participates in the competition will receive a certificate which will provide evidence of their activities and can be used for application purposes.

"The biggest prize of all is, of course, the experience the students will gain to enhance personal statements for CVs and university applications," says Neil Edwards.

Posted: 7th of April 2011

 

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