This week I have been completely blown away by some of the exceptional children and young people in our city.
It started last Tuesday when, in partnership with Work Discovery Week, I hosted an Enterprise Day at the Stadium of Light.
We had over 60 pupils turn out from secondary schools across the city, all eager to get stuck into the task I presented them with.
They had 2 hours to come up with a business idea that would turn a £50 investment into the greatest possible profit in just one week, and pitch it to me and the rest of the attendees at the end of the day.
As they broke off into their teams, I spent time with each of them listening to their ideas and giving them some practical advice, and I couldn’t have been more impressed.
Each and every person was super enthusiastic and brought plenty of ideas to the table, so I knew that when it came to the final pitch it was going to be very tough to choose a winner.
Their ideas were innovative, practical and showed meticulous attention to detail, especially when it came to the figures.
The main highlights for me included the idea of a self-tan bath bomb, which was very original indeed and a community project to help dads who have been working away or separated from their family to bond with their children through dance, play and cookery classes.
I was also extremely impressed by the group that were planning to use their £50 to buy a raffle prize, which they would then sell tickets for in order to raise a fund greater than £50 which would then be invested into their actual business idea.
The winning team had totally grasped all elements of the brief.
They had focused on creating a huge profit margin, planned to reinvest 50% of their profits back into buying more stock half way through the week and most importantly they had fully grasped their target market and the correct routes to market, while still planning a business that could be successful in just one week.
It was a very tough decision, but the team entitled Enfant Super Riches, were worthy winners and in September, as their prize, I will be handing over the £50 to them and working with them for a week to launch and run their business for real…and the best part, they will keep all of the profits.
I really don’t think we give enough credit to the young people in our city.
We should be shouting from the roof tops about how awesome they are.
They have major potential, and that was more than evident at this event.
It’s clear to me that there should be more time and resources put into encouraging enterprise at a young age.
The talent and drive is there, and with the right direction, advice and encouragement so many young people could be inspired to start their own businesses from a young age.