Young Enterprise is a National Schools Competition that is open to students from Year 10 and up through sixth form. Running from the start of the Autumn term through to the end of the Spring term, a group of students come together to set up and run their own business. They make all the decisions about their enterprise, from deciding on the name and product to creating a business plan, managing the student company finances and selling to the public at trade fairs and other events.
All this takes place with the support of a volunteer Business Adviser who brings a wealth of business knowledge and expertise. A range of resources are provided to help manage the company. Teams track their progress using self-assessment tools and even compete against other schools in local, regional and national competitions.
Fiona Askew, Senior Management Secretary at Seaford College explains what it gives the students. “Throughout the process they learn all the different aspects of a business. They have to choose what roles they want and take their product through various stages from manufacturing to selling it, hopefully making a profit”.
The Seaford Team last year has a Managing Director Kamal Sameer; Operations Director, Emily Holder; a Sales Team which included Toby Miles, and a Marketing Director, Ellie Brabem. They developed vinyl clocks under the name ‘Retrospect’.
The team developed their product and raised money from shareholders to get started. They developed their own social media presence and an online marketplace. Their sales strategy involved trade stands at venues such as garden centres and they also utilised opportunities within the school.
A huge success, the team won a number of the competitions offered by Young Enterprise. From best business plan and best company report to best branding report. They also gained first place nationally for their online sales, achieving a net margin of 30%.
Hear more about the Young Enterprise competition by watching our video here
Young Enterprise has been running at Seaford for a number of years and has always had a great impact on the lives of those that take part. Ylvali Koch, who left Seaford this year after her A Levels is currently embarking on a marketing internship with BMW in Mexico. It was whilst taking part in Young Enterprise at Seaford that she identified her love of business. “I learnt so much, from communication to time management” she says.
This competition is now just one of the activities that is available as part of Purple Time, our new enrichment programme in the Sixth Form. This programme of Academic and Vocational Enrichment is built into the timetable, allowing all students the opportunity to choose activities that either support their main academic studies or to develop their broader CV.
Find out more about the opportunities available in Seaford’s Sixth Form by joining us at our next Sixth Form Evening on Thursday 15th November 6pm – 8pm. Register for the event here.