After Kings College School’s Young Enterprise success last year, WSM were delighted to once again volunteer their services, acting as Business Advisors for two groups taking part in the scheme this year.
Young Enterprise is the United Kingdom’s largest business and enterprise education charity. Every year 5,000 volunteers from 3,500 companies offer guidance to 250,00 young people through the Young Enterprise scheme, enabling them to learn about business and the world of work. It caters for young people from the ages of 4 to 25 by offering a large number of different programmes to suit every year of education. Young Enterprise aims “to inspire and equip young people to learn and succeed through enterprise.” The charity also encourages participants to follow their principle of “learning by doing.”
The WSM Business Advisors team, made up of Kayley Hackshaw, Hollie Luck, Tasmeen Shirodkar, Ben Lee, Nick Sissling and Jessica White, is supporting two groups aged 15-16 and 16-17. As Business Advisors we attend both groups’ regular meetings in which they discuss the progress of their businesses and propose their next steps towards selling their product. So far they have registered their companies, agreed on a company name, thought of fundraising ideas and designed their products. They have also carried out market research to determine their target markets. This is essential for product development and enables the teams to adapt their advertisement strategies in order to attract likely customers and therefore increasing profitability.
Every week we look forward to seeing both teams’ development and it is great to watch initial ambitions and business plans evolve and turn into a reality.