Inspiring Young Entrepreneurs

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Inspiring Young Entrepreneurs Consortium is a social enterprise based investment company that will help inspire the new generation of budding young entrepreneurs of today become the bigtime entrepreneurs of tomorrow

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86 out of 86 in Europe
268 out of 268 in Economic Dev
930 out of 930 in Define
1066 out of 1066 in Blended
4003 out of 4003 Overall

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I.Y.E Consortium*

Creating opportunities and encouraging enterprise and entrepreneurship among the British youth community.

Inspiring Young Entrepreneurs Consortium is a social enterprise based investment company that will help inspire the new generation of budding young entrepreneurs of today become the big-time entrepreneurs of tomorrow. We offer young entrepreneurs a route from gaining work experience to managing their own business. We believe that the key to economic success and stability lies with the young entrepreneurs of today. We have developed a new business model that infusions the investment and charity sector to create a business that not only will make profits, but also ensure the new generation of young people have the necessary skills and experiences to become entrepreneurs themselves.

The Problem:

Key Facts:

- One in five young people are unemployed

- The number of unemployment in the UK currently stand at 2.67 million

- Of those 1.04 million are 16-24 year olds

- Labelled as the ‘Lost Generation’

- Current unemployment rates for 16-17 year olds are as high as 39.4%

The programme is aimed at teenagers aged 16-21.There are two sections to the programme; the first is gaining skills and work experience from working in a market stall establishment and secondly the ‘Business Initiative’ section. Members will have the opportunity to make a real contribution to the consortium and themselves as they are encouraged to create a business plan and pitch their own business ideas in the hope of getting their business ideas implemented by the consortium. Business ideas will be analysed and assessed by a panel of board members, judging whether the idea is profitable and feasible. The most profitable and feasible idea will be implemented with the backing of the Consortium’s Investment Fund.

The Consortium’s Investment Fund is a pot of money used to invest in new and innovative business ideas. Profits of 20% from each project/market stall will be donated into the fund in order to build up the amount of investment or reinvestment allowed to be given by the company. Business ideas accepted by the Consortium will be given the opportunity to start up their business in a small scale market stall in market stall locations before thinking of expanding the business.

FIVE PROJECT QUESTIONS Required (60 - 90 minutes)

1. What is your innovation?

Our business model is designed to encourage and promote enterprise and entrepreneurship among the young entrepreneurs in the UK. We combined the investment and charity sectors into a business model that is not only profitable but also delivers on key social issues relating to economic sustainability and unemployment are among teenagers in the UK.

2. Who gains the most?

Young entrepreneurs will benefit the most from this project. We give teenagers the opportunity to prove that they are worth something to the Consortium. In return, the Consortium will provide a platform for teenagers to gain work experiences whilst learning about the starting and running a business. On top of this, teenagers are encouraged to pitch their own business ideas in hope of getting the financial backing from the Consortium’s Investment Fund.

3. Who pays?

The Consortium will operate like any other business. We create goods and services for customers through market stall businesses, whilst continuously donating 20% of the profits from each project/stall to the Investment Fund. Processes of distributing earnings: 1. Total revenues – Total costs (Including stall rental) 2. 20% of all profits will go to the Investment Fund 3. 40% of the profits will go to the supervisor/idea giver 4. Remaining profits are shared equally among the staff

4. What is your success?

We will base our success on the rise of young entrepreneurs, number of start up businesses, profitability of the Consortium, Consortium’s brand portfolio and the stability of the UK economy.

5. How will you do it?

We will look to recruit the most promising and entrepreneurial teenagers. Teenagers aged 16-21, who have the following characteristics, driven, creativity, ambitious and hard working. We want to encourage new and innovative business ideas from teenagers and provide the financial support and professional guidance to make their ideas into reality. Plans to educate the teenagers on all the fundamental aspects and areas of business will hopefully inspire the next generation of budding entrepreneur.