A group of young adolescents enter the working world of business, set up a company and create and sell their own product.
From the Sixth Form at Eltham Hill, a group of students officially entered a competition on Monday 23rd November, which introduces them to the working world. They have to create their own company, which they have called ‘Respire’ as well as their own product with a unique selling point.
For Respire, this product was ‘Henna Candles’. These are a variety of different sized candles, with a unique, intricate henna design along the sides, the perfect christmas stocking filler or birthday gift for a friend. Alongside the candles, they intend to create henna canvas designs, again, intricate and beautiful. For both of these items, the company intends to offer customers a chance to personalise it, at an attempt to earn more money and gain a large amount of pubic interest.
Their target demographic is essentially young women and girls, thus why the attractive pattern has been used to attract this demographic. They intend to sell their product online via eBay as well as at local markets that include Greenwich and Old Spitalfields Market in London. The variety of markets offers a vast amount of opportunity to earn the money they have spent as well as make a profit.
This new, innovative company is extremely excited to have been given this opportunity, not only to make money, but also to develop key business skills to later apply to the working world. Baljeet Kaur, the Operations Director, stated, “I think it’s a really useful experience as it helps me prepare the skills I need to get the job I want. I think it offers real insight into the business world.” The introduction to the working world began immediately when all the students had to invest £20 into the business. No money or start fund was simply given to them, highlighting how they have to earn everything in the real world.
Considering they are one company, the students must ensure they work as one entity, which forces them to learn valuable skills such as teamwork, communication and an equal share of roles. They also learn the importance of organisation, time keeping (must attend breakfast meetings) and finance skills, such as budgeting.
Alongside all of this, participants have the chance to earn UCAS points, an incredibly valuable tool for personal statements in the competitive university selection process. They are not, however, given out lightly with participants needing to complete a short test at the end of the first year as a company. The higher their grade, the most points they have the opportunity to win.
Overall this is an incredibly exciting time for these students, whom are currently eagerly anticipating the launch of their company, hoping to make a large profit margin. Considering they invested their money, is it fair to assume they will be working incredibly hard to ensure they double the money they earn back.
By Dana Barthorpe, Eltham Hill School.
