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About young enterprise
Young Enterprise's mission statement is "to inspire and equip young people to learn and succeed through enterprise." At Coombe Sixth Form, we are proud to have achieved the Centre of Excellence Award from the Young Enterprise in 2011. We believe that their mission statement appropriately fits in well with Coombe Sixth Form Centre’s message of “preparing you for a world of opportunity”. Enterprise education is at the heart of providing young people with the skills and capabilities they will need to succeed in their further education and employment. The Young Enterprise Company Programme offers the students the opportunity to expand their business and economic understanding. They form real companies and run it over the course of a year and learn about how businesses work, how wealth and employment are created, how key business functions such as marketing, financial management, sales, customer service and HR operate. They also gain practical experience on economic concepts such as the market, supply and demand, raising finance, cost, price, profit and competition.
For further details on the Company Programme, please visit the Young Enterprise website
KEY FEATURES OF THE COMPANY PROGRAMME
- This programme is offered to Year 12 students at Coombe Sixth Form.
- Each company is formed by 6 to 24 students.
- For each company formed, a Young Enterprise volunteer Business Adviser mentor is allocated. The companies have weekly meetings with their Business Advisers throughout the year.
- The companies have dedicated Link Teachers based at Coombe Sixth Form to offer further support and guidance.
- Young Enterprise offers online support and guidance through the Young Enterprise website and students receive Starter Packs along with additional documentation to assist the companies.
Students compete with other schools/colleges in their region, across the UK and internationally to become Young Enterprise Company of the year.
This programme supports a range of qualifications and university entrance. There are OCR Entry Level and Level 1 Awards for Young Enterprise and an OCR Level 2 and Level 3 Certificate available to the students who take part in the Company Programme. In 2010/11 Academic Year, Young Enterprise has made OCR Level 3 Certificate with UCAS points available for students taking part in the Company Programme. The qualification is assessed by a single examined unit based on a case study. A “Pass” level in this qualification will award 20 UCAS points, a “Merit” will award 30 UCAS points and a “Distinction” will award 40 points to the students who choose to sit this unit. For further information on these qualifications, please visit the OCR website
On completing the programme students are eligible to join our UK wide Alumni network.
WHAT KIND OF BUSINESS ACTIVITIES SHOULD you EXPECT TO TAKE PART IN?
- raise finance by selling their company shares
- Open and use their own company bank account
- Carry out market research
- Work together to create their business plan
- Develop their own product or service
- Market and promote their product or service
- Trade with the public
- Manage company finances
- Take part in local Young Enterprise trade fairs
- Compete with other schools and colleges in The Company of the Year competition
WHAT ARE THE ENTERPRISING SKILLS you should EXPECT TO GAIN?
- creative thinking and problem solving
- communication and presentation skills
- confidence and a can-do attitude
- teamwork and leadership
- negotiation and decision making
- setting goals and time management
- managing risk and responding to change
HOW DO WE KNOW YOUNG ENTERPRISE PROGRAMMES WORK?
Here are the headlines from their website:
• “Participation in the Young Enterprise Company Programme correlates with better future earnings
• In particular in the 30+ age group alumni earn a third more than their peers.
• Young Enterprise Company Programme alumni are twice as likely to start their own business as their peers.
• Alumni had a greater appreciation of their skills and the opportunities available to them on leaving school.
• The YE alumni are more passionate about their jobs than their peers with 77% of alumni fulfilled and engaged by their jobs, compared to only 59% of the Control Group.
• YE alumni are more successful in their careers than their non-participating counterparts (even when taking into account family affluence).
• YE alumni are more likely to get involved in voluntary work (55% compared with 39% for the Control Group).
• Amongst business-owning alumni, Young Enterprise was ranked as the most significant experience they drew upon when establishing and building their venture.
• Overall, YE alumni felt that Young Enterprise contributed to their skill development more than anything else, including work experience, extra-curricular activities and school. ”
HOW DOES THE COMPANY PROGRAMME SUPPORT THE CURRICULUM?
- Every Child Matters: Economic Wellbeing and Making a Positive Contribution
- Business and Economic Understanding
- Work Related Learning
- Employer Engagement
- Economic Wellbeing and Financial Capability
- Personal Learning and Thinking Skills
- Functional English and Maths