1 November 2018
Boys in Year 7 are enthusiastically embracing a national Dragon's Den style project where they develop their entrepreneurial skills and business practices alongside their ICT skills. The initiative is part of the Tycoon Enterprise Competition. The free national competition, run by the Peter Jones Foundation, aims to encourage the UK’s budding entrepreneurs to get involved in business by giving them a start-up loan to run a business whilst at school or college.
Alison Thomas, who teaches ICT at Abingdon Prep, encouraged the boys to take part, she says, “The boys are so engaged and enthusiastic about the project, it has really captured their imagination.”
The boys, working in groups of four or five, wrote business plans for their ideas and the top five plans were submitted to the competition. All have been successful receiving loans to a total of £400.
The businesses are:
Culbs - potting up bulbs in recycled containers
The Green Room - fun green screen images
Billy's Bones - homemade dog biscuits
Books 4 You - second hand books
Iced Delights - fruit smoothies.
The businesses are now in their trading period until 14 December competing against over 200 other enterprises from primary and secondary schools across the country. The boys are planning a sales week (after school and break times) and will also be selling at the Christmas Bazaar. All profits will go to Thames Valley Air Ambulance.
Following evaluation of the projects by the Peter Jones Foundation results are announced in April and winners get to go to Buckingham Palace!
The Tycoon Enterprise Competition was started by Peter Jones CBE in 2012, as part of his campaign to foster a start-up culture through encouraging and supporting enterprise education in the UK. Over 1,800 new businesses have been created by young people with thousands benefiting from over £400,000 in Tycoon start-up loans.