Young Enterprise Inspire Magazine - issue 13

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www.young-enterprise.org.uk

Personal Finance Education Group merges into Young Enterprise

New programmes and resources for the 2014/15 academic year

How did the young entrepreneurs do with their £5 pledges?

pfeg joins Young Enterprise

Programmes update...

Fiver’s first year in business...

Insidethis issue...

NEWSLETTER ISSUE 13

ACE wins in Europe!UK Company of the Year

praised for huge potential

to ‘go global’..!

2015 will be a key year for Young Enterprise with pfegSince 1962 we’ve been able to call ourselves the UK’s leading enterprise education charity. We can now add financial education to that, following the merger of pfeg into Young Enterprise on the1st September 2014.

pfeg (Personal Finance Education Group) successfully campaigned for financial education to be on the curriculum; and as of this school year, it has been included for secondary schools.

The job is by no means done, as we now call for financial education to be statutory in primary schools, and strongly encourage academies and free schools to incorporate it.

This autumn saw me visit both the Labour and Conservative party conferences, meeting MPs, lobbyists and decision-makers, and putting enterprise and financial education firmly on the agenda.

We then published our 2015 Manifesto: Building Generations of Game Changers in November, setting out who we are, the problem and our solution.

So, what is “the problem” exactly?

We identify four problem areas: the skills gap between school-leavers’ capabilities and employers’ expectations; high youth unemployment; the fundamental need for financial capability and a changing economy.

To tackle these, we call for a long-term, sustainable skills strategy founded on enterprise and financial education that works for everyone. Our manifesto sets out seven clear asks and lays out the 5 skills; skills employers need to see in young recruits. Skills they’re struggling to find.

These are: communication, resilience, teamwork, problem-solving and creativity. We hear time and time again from our recent alumni how they developed these skills through applying themselves to real-life situations on our enterprise education programmes or through financial education.

As we enter 2015, a quick reflection on 2014: UK Company Programme winners ACE from Southborough High School in south west London beat off very stiff competition to win with their very first team, mentored by two new HSBC business advisers. ACE went on to come second in the JA-YE Europe Final and win the FedEx Access Award.

Luke Liddiard, who had struggled with a difficult home situation and ended up homeless before his youth worker suggested he try the Company Programme, became our first Journey Award winner. Luke impressed so much at the UK Final he took up a management training role at Asda, after meeting them there.

We also launched the Fiver Challenge! With the backing of Lord Young, the Department for Business, Innovation and Skills (BIS) and Virgin Money, we signed up 31,525 pupils in the first year. Winners of the Fiver Challenge were presented with their awards by Lord Young and Richard Branson at the awards ceremony in June.

This is an exciting period of change for Young Enterprise, as we welcome new staff and welcome pfeg into the head office in London.

I look forward to seeing what we can achieve in 2014-15.

Michael Mercieca Chief Executive of Young EnterpriseWe identify four problem

areas: the skills gap between school-leavers’ capabilities and employers’ expectations; high youth unemployment; the fundamental need for financial capability and a changing economy.


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Young Enterprise welcomes pfeg, the UK’s leading financial education charityThe charity merged into Young Enterprise at the beginning of September 2014 to create a specialist hub for students and teachers, providing enterprise and financial education programmes and resources for teachers and young people.

For 14 years pfeg has been a trusted provider of free advice, support and resources for anyone teaching children and young people how to manage money well. The charity provides support to teachers, government, consumer bodies and the finance industry to assist schools in delivering personal finance education to the highest possible standards, enabling children and young people to understand money and make informed choices to support their long term economic well-being.

pfeg was founded in 2000 and offers a variety of programmes and services. It has helped more than 4.3 million young people understand money better through the annual My Money Week, trained more than 20,000 teachers and provided over 280,000 resources to help teach financial education.

In 2011, pfeg was instrumental in establishing and providing the secretariat for the All Party Parliamentary Group (APPG) on Financial Education for Young People. The APPG conducted an eight-month enquiry concluding that financial education should be taught as a compulsory part of the Secondary National Curriculum for England, which came into force in September 2014.

pfeg’s work remains focused around supporting teachers and other people involved in teaching children and young people about money. The free ASKpfeg advisory service is one such initiative that provides free help and guidance for teachers, parents, or anyone teaching financial education to young people.

pfeg, in conjunction with the Chartered Institute for Securities & Investment, recently published ‘A Practical Guide to Financial Education in Citizenship’, designed to help teachers understand the connections between citizenship and financial education.

pfeg also partners with a range of businesses including Santander and Experian to transform schools into pfeg Centres of Excellence, which develops them into beacons of good practice for financial education.

pfeg will continue to advocate for financial education at all levels of the curriculum and across all types of school, as part of a long term skills strategy that works for young people, teachers and employers.

pfeg is the UK’s leading financial education charity. We provide resources and lesson plans, help and advice to anyone teaching children and young people about money

More information on pfeg, its programmes and services is available at www.pfeg.org


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The annual My Money Week trained more than 20,000 teachers and provided over 280,000 resources to help teach financial education.

Enterprising under-11s celebrate ‘Fiver’ success with Sir Richard Branson

To register your interest please email [email protected] and visit www.fiverchallenge.org.uk to find out more.

Please go to www.tenner.org.uk to sign your school up now!

The website opened for sign ups for the 2015 Challenge on the 1st December.

This year we have run an early-bird competition for organisations which registered and returned their payment form by the 16th January. The prize is a free Tenner Masterclass, taken between the 2nd February and the 6th March.

Not only that but the Tenner Relay is also back, launching this year on the 12th January at Glenwood High School in Fife and Richard Lander School in Cornwall, as we pit the North against the South.

You can follow the process of the Relay through the main Tenner website – just click on the pink aeroplane!

Tenner 2015 is almost here! Award Mini Company & school Product / Service

5 – 8 years

Best GroupPOP Barlows Primary Merseyside

Sold ‘Poppies of Peace’ in small biodegradable pots for people to plant in memory of WW1

Best Community EngagementLeannes Silhouette StudioRichard Whittington PrimaryHertfordshire

Silhouettes made from profile photographs

Highest ProfitElm Class Weald Infant & Nursery North London

Class sale selling fairy cakes, drinks and tubes of bubbles

9 – 11 years

Best GroupOur StyleLeigh Beck JuniorHertfordshire

Accessories such as bows, decorative pens, hair grips, sunglasses and earrings

Best Community EngagementBits & BobsGrasby All Saints CE PrimaryLincolnshire

Handmade and sewn gifts for all ages including spice bags, bracelets, decorations and customised phone cases

Highest ProfitFlutterflysThe Russell SchoolWest London

Bookmarks and bracelets

Most Inspiring IndividualJasper’s Dog WalkingCaldicottBuckinghamshire

Dog walking

The Fiver Challenge launched in June 2014 with 31,525 primary school pupils from 447 schools registered.

Similar to Tenner, Fiver pledges children with £5 for one month, during which they set up mini-businesses, working alone or in a group.

The prize giving was in September at the Ham Yard Hotel in London, with Sir Richard Branson and Lord Young of Graffham presenting the winners with their prizes:

We were hugely impressed with all the ideas we heard about, and particularly the young entrepreneurs who won a prize. Fiver will open again for registrations on the 23rd March 2015 for the Challenge in June.

"91% of supervisors said their students enjoyed the Fiver Challenge"


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Enterprising under-11s celebrate ‘Fiver’ success with Sir Richard Branson

The Challenge...The four problem areas:• The skills gap and the education system• High youth unemployment• The fundamental need for financial capability• A changing economy

The Solution...We’re calling for a long-term, sustainable skills strategy founded on enterprise and financial education – one that works for teachers, college tutors, youth workers, employers and young people.

It must:1. Be relevant, accessible and available to all young people regardless

of their starting points

2. Be embedded in all schools, colleges and universities across the UK

3. Be supported by all political parties

4. Be owned by key government departments with equal accountability

5. Enable all young people to leave the education system equipped with the 5 key skills of communication, teamwork, resilience, problem solving and creativity.

Our asks:1. Tackle the skills gap identified by employers.

2. Agree a long-term, sustainable skills strategy

3. Launch an Enterprise Skills Passport

4. Make financial education statutory in primary schools

5. Make Personal Social Health Economic (PSHE) education statutory

6. Ensure Teacher Training programmes and Initial Teacher Training incorporate the 5 skills

7. Work with Ofsted to build in reporting on enterprise education and financial education into their inspections.

The UK’s leading enterprise and financial education charity calls for a cross-party strategy to tackle the skills crisis head on.

Building Generations of Game Changers

To support us, email [email protected]

Our 2015 Manifesto: Building Generations of Game Changers is our first advocacy-led collateral produced to set out who we are, what the problem we’re tackling is and most importantly, what we’re calling for, all in one document.

Following on from Michael’s appearances at the Labour and Conservative Party Conferences, the Manifesto had a soft launch at Admiralty House on Whitehall, where Rt Hon Oliver Letwin MP kindly hosted us as we celebrated pfeg’s merger into YE with MPs, supporters and staff.

We are calling on all political parties to take bold action and address the skills crisis facing young people today. In our 2015 Manifesto we outline specific general election asks and urge parliamentarians and policy makers to adopt them.


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To find out more about Global Entrepreneurship Week please go to http://uk.gew.co

Kirsty, who took on the role of Sales Director, said: “I have always carried a fear that no one was interested in what I had to say and have always longed for more confidence and self-belief. Up until now, this has constantly held me back in life, but Young Enterprise has given me the belief in myself to participate, realise that I do have a voice and do make valid points and that there is no reason for me to avoid people.

“For the first time I now feel happy when speaking to people. At a trade fair in Stratford Upon Avon I even started grabbing strangers and asked them if they were interested in murder! I found myself telling people what to do and was frustrated my team weren’t approaching more people. I couldn’t believe it, it was like watching someone else, I suddenly felt like a different person.”

She now holds regular murder mystery parties in which clients are served a three course meal while a local acting group bring the plotline to life.

Kirsty said: “The experience of helping to set up and run a business has really given me a new found confidence. I feel more determined to go far in life and know now that I’m good at working in a team. I am much more ambitious and will try not to let anything hold me back.”

“The experience of helping to set up and run a business has really given me a new found confidence. I feel more determined to go far in life and know now that I’m good at working in a team. I am much more ambitious and will try not to let anything hold me back.”

CASE STUDYKIRSTY TIMM

Kirsty Timm, from Yorkshire, overcame extreme shyness and a severe lack of confidence to set up her own murder mystery party business, Lighthouse Entertainment. She was named Journey Award Runner-Up at the Company Programme UK Final 2014.

Global Entrepreneurship Week (GEW) is the world’s largest campaign to promote entrepreneurship, aiming to encourage the next generation of entrepreneurs through local, national and global events and activities.

Across the UK, 2,471 activities took place, organised by 447 partners – those who have organised at least one activity during the Week.

This year, we worked with Asda across the UK to promote GEW. Asda hosted over 50 schools in superstores across the UK to market and trade their products both during and after GEW, giving the students the opportunity to engage with the public, learn from Asda mentors and network with senior staff. For many students this was their first opportunity on the Company Programme to market and trade their products.

“We were blown away by the enthusiasm and creativity of some of the young people who did this and would love to see more and more of this happening as the 2015 Company Programme progresses.

The aim of the partnership is to encourage the students to further develop their key skills whilst giving them their first taste of marketing a product to the public.

As part of Asda’s continuing support of Young Enterprise, the supermarket will be supporting this year’s Journey Award at the Company Programme UK Final in July 2015.

“We’re really proud of our ongoing partnership with Young Enterprise and we’re keen to support Global Entrepreneurship Week by opening up our doors and encouraging young people across the UK to come in and sell to our customers” Kirsty Timm chats with BBC Business

Presenter Steph McGovern at the UK Company Programme Final, July 2014

Tim Scott, Asda Senior Community Life Co-ordinator


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of teachers agree that Company has increased self-awareness in participants’ own capabilities and potential

90%

Evaluating the effectiveness of enterprise and financial education is vital to our success, and over the past two years we have increased our efforts in capturing impact evidence. Measuring the development of young people’s employability competencies gives us the data to prove the effectiveness of our programmes and resources.

Young Enterprise: Developing skills for work and for life

of young people would recommend Company to their friends and family

90%

94%

of teachers agree that Company has raised awareness of young people’s own strengths and weaknesses

felt they have improved at least one employability competency. Communication, problem solving and resilience saw the greatest average point increase1

92% !

Competency Definition and Example of skills

Communication The ability to listen, write and speak effectively to present and exchange information and ideas in a clear and concise manner

Confidence The self-motivation and ability to generate and retain strong self-belief in personal skills, capabilities and likelihood of success

Financial capability The ability to analyse financial information, manage money and make informed decisions to plan for successful financial futures

Initiative The ability to take the initiative, evaluate and calculate risks, and do more than is required in the pursuit of success

Organisation The ability to effectively manage tasks, plan and prioritise actions within a schedule, and set smart goals

Problem solving The ability to collect and examine information, think creatively and analyse situations to generate solutions

Resilience The ability to persist when facing setbacks, adjusting to pressure and adapting to changes in circumstances

Teamwork The ability to build team engagement, collaborate, share knowledge and explain ideas to others whilst managing personal feelings

EMPLOYABILITY COMPETENCIES MEASURED:

90% of Tenner 2013 participants felt they had developed new skills

90% of young people and 95% of teachers would recommend the Company Programme

80% of young people would recommend Tenner 2014 to their friends

79% of Tenner 2014 participants felt Tenner provided them with a unique opportunity to learn and achieve new things


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In October, students from three universities were joined by prospective mentors at Toynbee Hall in East London to launch the Women In Business programme.

Speaker Melody Hossaini established her social enterprise InspirEngage International, which focuses on skills training and development for young people, with £0 and a Hotmail email account. Today, she is one of the leading youth sector figures in the UK.

Hossaini said: “Most important is your mind-set, as it determines your outcome. You make choices subconsciously and consciously.”

Lead speaker Sue Langley, CEO of the UK Financial Services Organisation at UK Trade and Investment (UKTI), was awarded 2009 FS Women in the City Achievement Award. Acknowledging her luck in having a fascinating career, she credited a never-say-die attitude.

Having started her manufacturing business, now Recognition Express, at the age of 19, Caroline Dinenage, Conservative MP for Gosport, said: “As women, we put a lot of ourselves in business,” and emphasised that in business, women should help other women.

Women In Business encourages female undergraduates to participate in Young Enterprise’s Start-Up Programme. Students will be able to develop their own business, sell shares, open a business bank account and attend trade fairs, developing employability skills along the way.

“Your career begins right now…what you do in your spare time paves your career” Melody Hossaini, Founder and Director of InspirEngage

“What is the worst that can happen? You can fail, but you can get up and try again”

Women in BusinessYoung Enterprise, supported by the Government Equalities Office, has launched the Women in Business programme – a unique opportunity for female undergraduates to work with inspiring mentors and run their own start-up.

This is the first time that Young Enterprise has launched a programme specifically for female undergraduates. For more information about the project and how you can get involved, email: [email protected]

Sue Langley, CEO of UK Financial Services Organisation at the UK Trade and Investment (UKTI)

Sixty undergraduates from eight universities visited the Barclays Global IT centre in Knutsford, Cheshire. During an intensive training session, they received insight and advice from recent graduates through to senior managers, who also offered help reviewing students’ CVs. Students were able to pitch their start-up ideas to staff, and were given a tour of the site.

The day’s host Julian Bucknall, from Barclays Technology Centre, said: “We are delighted to have supported Young Enterprise with this event. Giving students the opportunity to receive coaching and CV advice from our senior leaders is just one of the events we run to promote employability and entrepreneurial skills.”

Carol Buckman, Business Gateway Manager at Liverpool Hope University, said “Barclays offered a warm welcome and an amazing opportunity to Liverpool Hope University’s students. Thank you to Young Enterprise and Barclays for a truly unique experience”.

The Barclays Workshop in the North West was just one of a host of opportunities for Young Enterprise students to get involved with prospective future employers.

START-UP NEWS

To find out more about the programme and how to get involved as a university, college or as business volunteers, email: [email protected]

This academic year sees new programmes in the Young Enterprise offering, plus key updates to the flagship Company, Team and Start-Up Programmes.

Our Learner Development Journey maps intended learning outcomes for all programmes against eight key employability competencies . The journey takes young people from stage one – raising awareness of employability competencies, through to stage four where they model key competencies through real life experience of setting up and running their own business through the YE Company and Start Up Programmes.

Programmes Update...

The Learner Development Journey can be viewed at www.young-enterprise.org.uk/learnerdevelopmentjourney

The beginning of the academic year has been busy for our Start-Up students as they prepare to set up and run businesses at college and university. The Start-Up Programme is a hotbed of future talent, and increasingly employers are looking to our programmes to identify potential graduate employees.

Networking at the Women in Business launch

Networking with Jill O’Neil from GE Capital and Deborah Abodunrin, founder of SMT4Youth.

“A unique experience where invaluable advice was given to us by a very reputable employer”Nicole English, studying at Trafford College,


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In 2013/14 we piloted Employability Masterclasses for 850 students across London and Essex and we are delighted that Jack has committed further funding to significantly increase this and support a further 3,000 students this academic year. Together, Jack and Young Enterprise are giving young people the chance to cement their best first impression and make a strong start up the career ladder.

The project will get underway with a series of workshops, starting in February 2015. Topics will cover the power of social media in job hunting; how to give fantastic presentations; and how to ace assessment centres. There will also be workshops specifically aimed at those looking to start their own business.

Following the launch of the workshop series, we will be coordinating a mentoring scheme from Spring 2015. The scheme is aimed at those wishing to gain an edge whilst looking for employment, and those involved in starting their own business.

Old Mutual Wealth, the partner behind the Your Horizon project, will allocate funding grants to successful young people that catch their eye over the Project – so watch this space!

We received fantastic feedback when we launched the event to guests, youth organisations and speakers – who included members of the Federation of Small Businesses and the Department of Work and Pensions.

Aaron Ross, founder and CEO of CityHawk, gave an inspiring introduction to the event, saying: “Seeing young people that have done a Young Enterprise project is something that, as an employer, is very reassuring to me.”

Your Horizon, a new project for school-leavers aged 18-24, is coming!

JACK PETCHEY, CBE

Jack Petchey CBE has been a strong supporter of Young Enterprise since 2005. His passion for supporting young people has enabled more than 100,000 students to take part in our practical business activities across London and Essex.

Most recently Jack has focused his Foundation’s support on young people who will soon be finishing education. Schools have told us that there is a real need for their students to experience interviews and receive personalised feedback on their interview style and presentation skills before they are put in front of a potential employer. Thanks to Jack’s Foundation we have been able to make this happen.

IF YOU THINK YOU CAN, YOU CAN!

Jack is a fantastic example of an individual who believes in the potential of young people. By partnering with Young Enterprise we are able to positively impact the lives and career chances of thousands of young people

All workshops and mentoring opportunities will be announced on the Your Horizon website, www.your-horizon.org.uk, or you can email your interest to: [email protected]

Jack Petchey, CBE

To find out how to join Jack Petchey CBE as one of our key supporters, email Kirsty Cawthron on: [email protected]

www.your-horizon.org.uk


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YE Online can be accessed through www.y-e.org.uk/company

What’s new for 2014-15?

Our flagship programme; the Company Programme grows in strength year on year. This year’s cohort have just finished the busy Christmas trade fair season, and will soon be preparing for Valentine’s and spring trade fairs.

This year we are delighted to launch YE Online; a new extranet facility for use by registered teams on the Company, Team and Start-Up Programmes. The site offers up-to-date advice and guidance as well as an extensive suite of business and communication tools to aid their experience of running a real business.

In November YE Online had 16,000 visits from 7,700 visitors, which was a cracking start to the Company Programme year.

COMPANY PROGRAMME

CASE STUDY

First-timers ACE triumph both in the UK and in Europe

Company Programme winners celebrate success in Europe

ACE, from Southborough High School in Kingston upon Thames, won the UK Company Programme final in July 2014 – the first year the school had taken part. They went on to represent the UK at the JA-YE Europe final in Talinn, Estonia, coming second overall and winning the Fed-Ex Access Award.

ACE’s two Business Advisers, both from HSBC, were also new to volunteering for Young Enterprise, meaning it was a double success for both a first-time school team and first-time mentors.

The team, all 6th Form students, developed their product; the self-adhesive Attache, following extensive market research and focus groups, and looking at existing products such as car phone holders that are manufactured to hold one type of device only. Difficulties arose when their order was delayed by nearly two weeks due to the Chinese New Year, meaning they missed the Christmas market and struggled during the holiday season.

They bounced back, focusing on their USP and branding in January to pick up the market again, working with a Chinese student in their 6th Form to overcome language barriers. The team also had to learn to work together and overcome disagreements.

ACE’s Sales Director Kiran Arokiasamy explained: “Southborough is a boys’ school, so as a group of 22 boys there were sometimes communication issues.

We all learned how to work through any disagreements and I can say the whole team really developed their communication skills; from those who were shy at the beginning to those who were already confident – we all improved so much.”

“We also really developed our leadership and basic business skills. That’s what Young Enterprise does – it changes you.”

“I’ve improved my confidence, team working and business understanding. There are things I never knew I could do before, and it’s such an amazing feeling to know you can do this.”

“We’re a state school who came out of nowhere to represent the UK in Europe. You can’t top that.”

To follow HSBC and join as one of our volunteer mentors, please contact:

[email protected]


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ACE are named the Company Progranmme UK Winners, July 2014

The Company, Start Up and Team programmes enable young people to set up and run their own business for a year, and are great learning experience for thousands of participants who develop new skills to support them in work and in life.

At Young Enterprise we are passionate about ensuring that every young person has the opportunity to participate, and we understand that most aren’t ready to build a new business from scratch when they embark on one of these programmes. We’ve worked to develop learner journeys that build young people’s ambitions, attitudes and skills, ensuring that whatever their background, they begin our programmes equipped with the foundations to make the most of the experience.

We are working with different supporters such as the Big Lottery Fund, Goldman Sachs and UBS to trial a new eighteen-month programme aimed at ensuring that young people can develop their full potential regardless of what their starting point is.

As part of the programme, students engage in activities in and out of the classroom to develop awareness and understanding of individual skills required in business. This aims to provide a strong platform for them to continue to build the knowledge and skills they need to succeed.

Students on the programme are now halfway through their journeys and set up their Company Programme teams at the beginning of this academic year. We’re looking forward to seeing how they get on over the year and how our new approach has improved their skills development.

If business isn’t your first language…


We are extremely proud of the ever-growing list of companies that back our work...

Our partners make a huge difference to the lives of the UK’s young people. Our growing network of national and local business supporters give us help by:

• volunteeringwithuseitherasindividual employees or in teams

• givingusdirectfinancialsupporttohelpdeliverlocalYoung Enterprise programmes

• supportingYoungEnterpriseawardsthatrecogniseyoung people’s achievements

• offeringusin-kindandprobonosupport

• joiningouradvisoryandtrusteeboard.

We are proud to be supported by some of the finest organisations working in the UK, including a great many superb local firms and organisations who generously make a commitment in line with their resources.


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Produced and distributed by Young Enterprise. Charity No. 313697

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Find out more...For more information on Young Enterprise across the UK or in your region, visit www.young-enterprise.org.uk. For more information on pfeg’s resources and offer, visit www.pfeg.org

Young Enterprise Inspire Magazine - issue 13

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Transcript of Young Enterprise Inspire Magazine - issue 13