Young Enterprise programme launchesFriday 11 November 2016
The Young Enterprise mentor programme is an important element of the Level I curriculum for Business Management students. Following the launch of the programme, second year student Amy Yong describes how expert mentors share insights into creating and building a business.
As part of the Young Enterprise programme, students have to produce their own business from scratch. This includes all aspects, including product development, finance, marketing, PR, building a website and much more.
The University welcomed the Young Enterprise businesses mentors to offer help and advice to students with their business ideas. Each mentor has knowledge and experience in a different industry - PR, Social Media, Marketing and Design - which means they could offer specialised knowledge.
With more than 100 students taking part, each mentor was assigned two groups each and meetings will take place every 2 weeks. The students were split into two lecture cohorts: Saturn and Jupiter.
My business group was assigned to Richard Pontefract, an Events Manager for the company One Fell Swoop. He has a wealth of experience and contacts in the industry, having worked on events in Liverpool for the last 15 years. He started promoting club and student nights in the early 2000's and has gone on to work with a host of high profile organisations. Richard is also an established DJ, having played a vast number of venues and events across the city.
To begin the mentoring meeting, we all introduced ourselves and discussed our initial business ideas. Conversation flowed and everyone in our group got involved, contributing their own opinions. This was an excellent opportunity for students to improve their communication, interpersonal and team working skills.
As students will receive £25 seed fund to help them start their business, the mentors discussed how this should be used. Suggestions included fundraising to generate more funds, or actually using the funds to create a prototype of our product. To end the meeting, we were given set tasks to do in time for our next meeting with Richard, which included:
1. Appointing a Managing Director.
2. Changing our company name in relation to our business idea.
3. Market research.
4. Creating a logo.
5. Producing a mission statement and strapline.
Overall, the session was a huge success, providing students with lots of advice, new skills and a kick-start to creating our future businesses. The Young Enterprise programme provides a real insight in to what it takes to start up and run a business, and the mentors will be there to guide us throughout this journey.