INVEST Essex is backing the 'Young Enterprise Essex Company of the Year County Final 2018' by sponsoring the competition’s Best Presentation Award. The Young Enterprise competition enables young people to develop the knowledge and attitudes they need to succeed, building on eight key skills:
- Financial Capability
Young Enterprise, established in 1962, is the UK’s leading enterprise and financial education charity, reaching over 250,000 young people every year. The 2018 final will be held at Anglia Ruskin University (ARU) on April 25 and INVEST Essex Location Services Director, David Rooke, will serve as one of the judges in deciding the winner.
“We are very proud to support Young Enterprise which bridges the gap between education and the workplace. This competition provides the next generation with transferable employability skills and the opportunity to gain an insight into how to run a business.”
David Rooke, Locations Director, INVEST Essex
The next stages for the Essex finalists
Essex finalists will be looking to succeed ‘Elastofit’ from King Edward VI Grammar School, who won in 2017, as well as the ultimate national winners, ‘VenturePad’ from St Paul’s School, London, who created waterproof, tear-proof, durable notepads.
Following recent area heats there will be six teams of aspiring entrepreneurs competing for the Essex title, along with a place in the next round at the Regional Finals in Norwich. If successful they would go on to the National Finals held in London and then, ultimately, the European Finals.
This year’s entrants are aged between 15 and 17 and have been running a student company since September 2017. They have come up with a name for their company, a logo, sold shares, decided on a product idea, marketed and sold their items - supported by a business advisor/volunteer from the business world to mentor them.
Each finalist has had to produce a company report, which is read by the judges in advance, and on the day, they will set up a trade stand at Anglia Ruskin University for guests to view. Judges will interview each team and listen to presentations before deciding on winners in various categories.
A county of entrepreneurship
Essex is a haven for entrepreneurs with Greater Essex possessing the highest rate of start-ups in the UK at an average of 254 start-ups for each £1bn of GVA between 2010 and 2015, according to the Essex Economic Commission Report.
INVEST Essex is heavily involved with a number of start-ups in the county, providing free-of-charge advice in helping businesses find funding solutions, their optimal location and a wide variety of other services to assist in development.
For more information on how INVEST Essex helps companies start up and expand see here.