A team of GCSE business studies students at Hall Mead School in Upminster have demonstrated their entrepreneurial and business development skills after completing an enterprise project funded by Lloyds TSB Commercial.

Almost 50 students from year 10 competed in groups of four to create their own company using an initial investment of £15 per person from the bank. After presenting an outline business plan and growth objectives of how the enterprise would operate and generate revenue growth, the teams had all of November to maximise their shareholders return on the investment.

Businesses ranged from a local car washing service to a jewellery design company. The winning team was ‘Essentials’, a greeting cards and stationery company which was managed by Ben Lineham, Cassie Finch, Olivia Brindle and Andrew Tuohy. The company generated a healthy profit of nearly £200 by selling their goods to teachers and pupils from a stall in the school playground during lunchtimes. They also hired a table at their school fete to enable them to sell to parents and friends.

Kevin Lucas, business studies teacher at Hall Mead School stated: “As part of their GCSE business studies curriculum, this project with Lloyds TSB Commercial has enabled our students to gain a really valuable insight into setting up and growing a company.”

Steve Wynn, a specialist education relationship manager with Lloyds TSB Commercial, spent time at the school on a weekly basis throughout November in order to give strategic help and guidance to the student entrepreneurs. He stated: "It has been extremely fulfilling to see how these students have adopted good business practice to deliver such great returns on investment. Initiatives such as this provide young people with a genuine insight into the workings and management of a business.”

Further information:
http://www.lloydstsbbusiness.com/accounts/index.asp