Young Enterprise is a platform for students to run their business. It consists of various competitions and organises trade fair to experiment and re-design the product or business (plan and model) based on the valuable feedback provided by the judges and customers for better results and success. Students were provided with support and networking throughout.
We had run a real business for Young Enterprise. This taught us the important factors of running a business such as working on business plan and model, manufacturing products in bulk, using different tools of marketing, and also managing money and accounts. The most important thing I learned throughout was to maintain financial records and cash flow forecast for better understanding and prediction of growth and sustainability of the business. We also learned to write business reports and present in front of the investors.
During our experience with Young Enterprise, we one ‘the best display stand’ award for one of the trade fairs and sold a few products during the other trade fair. We are also in the YE UK 2019 finals. Our company and product received positive and valuable feedback along with recognition.
All the competitions and trade fairs conducted by Young Enterprise had a different experience and something new to learn every time. From working on the business idea to actually running the business was an interesting journey. These events brought many benefits along such as networking, learning opportunities, and improving on our weaknesses. It helped us evolve as a person as well as an entrepreneur.