In the summer of 2012, having been inspired by The Apprentice and Young Apprentice, Gemma and Clive decided to run the young enterprise at the Swift, and with pound signs ringing in our eyes we set about getting to work. The young enterprise company programme involves:
- Setting up a company
- Developing, producing, marketing and selling the product
- Selling shares in the company
- Write a business plan
- Managing the finances
There is also the opportunity to compete in regional, national and European competitions. The first stage was for Angela, one of the coordinators from Young Enterprise, to come to the Swift to explain the company programme and to get the idea juices flowing amongst the group.
From that brain storming session, those who were interested in being part of the project (and making some serious money) was established and we went about setting up the company and developing the ideas. Through the young enterprise company programme, the group was also appointed a business advisor called Adam who works for HSBC, and the advice and business knowledge that Adam has provided over the past few months has proved invaluable. Adam and has provided donuts a few times at the fortnightly meetings, which is an added benefit.
As of January 2013, we have registered the company and are called Swift Tech and we currently have two products in research and development. We have also been running a tea and coffee stall for the past few weeks at Queens Market in Upton Park and at the Memorial Community Church Christmas carol service, to raise funds so that we can manufacture a prototype of our product.
The next stage for Swift Tech is to sell shares in their company, write their business plan, continue to raise funds through their stall at Queens Market, conduct market search and develop and manufacture a prototype of their product.
We will keep you all updated here on our progress over the next six months!