Enterprise Competition invests in future business stars

Fri, September 20th, 2019

Imagine Richard Branson or Mary Portas when they were nine years old; who cou...

How do you inspire young people to become entrepreneurs?

 
Imagine Richard Branson or Mary Portas when they were nine years old; who could have recognised the spark within them that would ultimately lead to such success?
Well, right now, future generations of business-leaders and wealth-creators are in primary schools across Merseyside – and local businesses are being urged to help them get off to a great start on the road to success in commerce.

That’s the idea behind the 50/50 Enterprise Competition, in which Year 5 school students are challenged to devise a business scheme that can create a profit from £50 of seed-funding.

In previous years, students devised a wide variety of money-making schemes such as cake sales, plays, pyjama days, Christmas Fairs, raffles, film and Bingo nights, football shoot-outs, toy sales and even disco-dance parties.

This year’s 50/50 Enterprise Competition starts on 7th October. It is sponsored by Parentapps, a Liverpool-based company supplying apps and websites that enable schools and nurseries to communicate with parents directly. All profits will go to support the work of Roy Castle Lung Cancer Foundation the only UK charity dedicated entirely to Britain’s biggest cancer killer.

Nick Hill, who’s coordinating the competition for the charity, said: “The 50/50 Enterprise Competition is a great opportunity for youngsters to show their ingenuity. If their idea is strong enough and they put in the work, there’s every chance they’ll succeed. What they choose to do is entirely up to them, providing it’s legal!

“We’re absolutely thrilled to have Parentapps as our headline sponsor. It’s a great fit, because they work closely with schools and parents, and they’re a textbook example of how to translate a simple idea into a practical solution for a real need and use that to build a thriving business”.

Schools in Liverpool, St Helens, Knowsley and Halton have already signed-up to take part, and it remains open to entries from across Merseyside and Wirral.

Nick would like more local businesses to share their expertise. He said, “We want people with experience of running businesses to become mentors to our young entrepreneurs.

“It would be wonderful if they could spare a little time to work with the schools and show the youngsters how make good decisions, how to market their schemes, and show a profit.

“This a great opportunity to bring schools and firms together and we hope it will inspire young people to go into business when they’re older. That would benefit the whole community”.

Parentapps’ Managing Director Kevin Clayton is proud to be involved.
He said, “I’m really excited to be working with Roy Castle Lung Cancer Foundation on this project. Not only are we helping an amazing charity but we’re also looking forward to working with these young students to give them an insight into running their own business.

“As a child, I was always looking at ways to make money, such as minding cars on match days or making toffees to sell in school. If we can sow the seed of entrepreneurship at a such a young age then it may give the children something to aspire to as they progress through their education”.

In previous competitions, the school-age whizz-kids have turned up trumps, posting healthy profits to support research projects and to find ways to detect lung cancer early, when there are more and better treatment options.

It wouldn’t be an enterprise competition without prizes, and this year will see awards for the most innovative idea, best team work, and generating the biggest profit.

You can sign up here: www.roycastle.org/enterprisecompetition

Meet the Members

The Roy Castle Lung Cancer Foundation logo

The Roy Castle Lung Cancer Foundation

4-6 Enterprise Way, Wavertree Tech Park, LIVERPOOL, Merseyside, UK, L13 1FB

  • T: 0151 254 7200
  • F: 0151 254 7273

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