Do you have a brilliant business idea that you'd love to bring to life? Perhaps you've dreamt of owning your own business one day, and being your own boss? If this sounds like you, then our award-winning 'Entrepreneur Club' is perfect for you! In our weekly workshops, you'll work in teams to learn what it takes to be an entrepreneur, discover the key steps involved in setting up and running your own business and join the thousands of other children across the UK in participating in the hugely exciting Young Enterprise 'Fiver Challenge!' This year, our Newland House teams did incredibly well, with The Tiny Time Team being crowned the 'Best Overall Business', Champions' Footprints the runners' up in 'Best in Sustainability' and Super Soapy Hope finalists in 'The Fiver for Good' categories in the national competition! This could be YOU next year!
Entrepreneur Club for Year 2 is a two-term club (running from January 2024 until July 2024) which will take place on Thursdays after-school from 3:30pm until 4:30pm. It will be held in the Pre-Prep Boardroom. This club is limited to 15 pupils on a first come, first served basis and sign-up is via the Firefly page.
Club Leader - Mrs Skelton - sskelton@newlandhouse.net
Booking is now closed and the Spring Term group will continue into the Summer.
Week 1
What an amazing start to Entrepreneur Club 2024! The Boardroom was a much brighter place with a full team of Year 2 pupils all ready to start their enterprise and entrepreneurial journey! This week's business meeting focused on welcoming the children to the club and discussing what exciting plans we have for the weeks ahead! We touched on some key business-related vocabulary, with the children diving straight into Profit and learning the formula TR-TC=P!
Week 2
Please accept my apologies that the club did not run as planned this week - I was unwell but am very much looking forward to getting back to business next week!
Week 3
Another excellent business meeting was held this week, with Grace taking the register and Max taking the minutes (thank you both.) I have two action points to complete for next week so will be sure to get onto this! Also in the actions, Vivi will take the register next week - thank you for volunteering to do this, Vivi! This week focused on how to run a successful business meeting, and we discussed how these are supported by agendas, minutes and actions. The children also agreed 12 Golden Rules that they would like put in place to ensure that their meetings run efficiently and there are some really sensible suggestions included in this - well done!
We agreed that our club needs its own identity so the team set about creating our own club logo - take a look below at their handiwork:
Week 4
This week, the children were introduced to the concept of social enterpreneurship. They learned that not all businesses exist simply to make profit that the entrepreneurs keep themselves, and that some, have a different approach. The short clip below helped to explain this more.
Week 5
Did you know that there are over 100, 000 social enterprise businesses in the UK alone, and that they generate around 2, 000, 000 jobs?! Our 6 and 7 year old young entrepreneurs do! These were some of the staggering statistics we found during our research on social enterprises this week. Demonstrating our Newland House Values of 'Kindness' and 'Community' beautifully, on learning about the wonderful work that social enterprises do to help people and the planet, the children agreed that this is the type of entrepreneur they would like to be, even when they understood that in order to trade in this way, at least half of their profits must go towards the cause they are supporting. Business at its best indeed! This week, the children used Social Enterprise UK's Gift Guide 2023 to choose one social enterprise to focus on and are in the midst of completing what promise to be some very interesting fact sheets!
Thank you to Vivi for taking the minutes tonight, and to MacCabe for taking the register. Minutes from the meeting are below.
Week 6
It was a lovely welcome back to the Board Room tonight! We began with a recap of all things social enterprise and I was very impressed with the knowledge and understanding that the children had retained from our sessions before the half term break - well done to all! We questioned why, if becoming a social entrepreneur makes you feel good and makes the world a better place, why is not everyone in this position...? Harry led a fantastic discussion about the different skills and qualities that entrepreneurs possess in comparison to employees and the children completed an online quiz to check if they had what it takes! There were some great scores, some very honest answers to the questions asked and a real commitment to making their businesses work. Some of the vocabulary we'll be discussing in the coming weeks was introduced through a wordsearch so, along with AOB, agendas and minutes, USPs, TR, TC and P will all soon be familiar terms!
Thank you to Isaac for taking tonight's register, and to Nathan for doing the minutes (a copy is attached below.)
Week 7
Tonight was all about showing good business etiquette, and after a few funny examples of what not to do in a professional setting, we set about discussing what good business etiquette looks like and shared some great examples. The clip below helped to support this, and the children branched into teams to create their own mind maps, which are attached. We played a fun game of 'Rate the Shake' towards the end of the session before Ottilie and Grace teamed up to sell 'the best jumper of all time' to the group! A fun, practical session ahead of next week's introduction to business finance...watch this space!
Thank you to Jasper for taking the minutes and Ottilie for taking the register.
Week 8
Tonight saw the introduction of Business Finance! Revisiting our first week in the Boardroom together, when the children were keen to know about making profit, we explored costs, revenue, selling price and profit tonight and the children learned the terms TC, TR, SP and P as well as the formula TR-TC = P. Using Max's snack bar, we worked out that the money many of us thought was our profit was actually our revenue! We worked together to identify the costs involved in making the snack bar and from there, worked out the profit. The short clip below helps to explain this and the children completed their own worksheets about an ice-cream entrepreneur called Mr Freeze - a sample of some of their wonderful work is attached.
A special mention must go to Leonardo who, completely independently, created a mind map of what we have covered in the club so far - it features snippets from business finance, business etiquette, social enterprises and sales. I was so impressed at the way in which he has expressed his new knowledge and understanding, and I was even more impressed that by doing so, he showed true entrepreneurial qualities - trying something new, taking a risk and working hard! Well done, Leonardo - your fabulous mind map is attached.
Thank you to Magnus for taking the minutes and Leonardo for taking the register.
Week 9
Tonight was all about break-even analysis! Following their exciting day with the Ministry of Chocolate, we spoke about this business and the entrepreneur's journey, which we heard wasn't always easy. The children were intrigued to learn that businesses don't often make profit quickly, and that instead, many hope simply to break-even in their first couple of years. Using the formula FC/(SPU-VCU) the children worked together to calculate how many units entrepreneurs had to sell in order to break-even. Some spotted that the lower the fixed costs, the quicker the business would be to break-even, and several spotted that often the number of units has to be rounded up because 'you can't sell just a chapter of a book' said Magnus, Isaac, Jasper and Vivi!
Thank you to Harley for taking the minutes this week, and to Max for taking the register.
Week 10
After a quick recap of all things finance, we moved on to look at Marketing, focusing on the 4 Ps - Product, Place, Price and Promotion. I had no complaints from the team when we looked at how McDonalds use the 4 Ps to encourage sales, and the children then applied what they understood to Diet Coke.
After Easter, the children will be focusing on the practical side of setting up their own business, using and applying the knowledge and understanding from our first term to help them do this. Very soon, the newest social enterprises in Teddington will be introduced - you heard it here first!
Thank you to Ottilie for taking tonight's minutes and to Arran for taking the register.
Week 11
Week 12
Week 13
The teams continued to work on refining their business ideas and branding tonight, making good progress in both. Next week, we will start our Twilight Meetings, which will give the opportunity to polish these ideas so that the all-important funding can be released! Thank you to Arran for doing the minutes tonight.
Week 13
You heard it here first! Pencil Stars (with the rather lovely strapline of 'Write for all') and 'Beauty begins with Bunting (with the gorgeous strapline of Memories do come true') are the newest social enterprises in Teddington! Here is a sneak preview of Pencil Stars' logo, which the design team are currently bringing to life on paper! A huge well done to our teams for reaching this important milestone!