Young Enterprise
Encyclopedia
Young Enterprise is a not-for-profit business and enterprise education charity
in the United Kingdom
. It is made up of 12 regional organisations, each operating individually under a license agreement. Young Enterprise's mission statement is "to inspire and equip young people to learn and succeed through enterprise."
programme. By the 1973/1974 academic year, there were twenty-two area boards across the UK running Young Enterprise programmes. In 1977, the European Federation of Young Enterprise was formed, with the UK, France
and Belgium
amongst the founding members. This was then renamed in 2002 to 'Junior Achievement/ Young Enterprise Europe'.
In the 1980s, the Company Competition began to take on the form it has today. Young Enterprise companies would submit reports to judges who selected the best from each region. The six regional winners were then invited to attend the National Finals in London, where they would deliver a presentation. Midland Bank (now HSBC
) also took on the Chairmanship of Young Enterprise in 1988.
In the 2000s, Young Enterprise continued to launch new programmes and reorganise its regional structure. The Primary Programme, originally run in Northern Ireland, was introduced the rest of the UK in 2000. In 2002, the charity's structure was finalised, with 12 autonomous regional organisations throughout the country. 2003 saw the introduction of a further two programmes, Learn to Earn and Enterprise in Action. Young Enterprise's ninth programme, Personal Economics, then launched in 2005.
products, attempting to generate profits. While the amount of capital they have to work with is not enormous, significant profits can be produced. One company, Force-7, made a net profit of £5,215 on revenues of £27,442 from £420 initial shareholder capital. Business advisors, volunteers arranged by Young Enterprise, are allocated to their business to mentor students.
There is also a multi-layered competition element to find the best overall companies and departments at local, regional and national level. Candidate business have to create a trade stand and a presentation based on their specific businesses history and their product performance in the marketplace.
At each of these events - local, regional and national level - judges mark each businesses' efforts and present awards that often include Best Presentation, Best Innovation, and Best Trade Stand. Success in these awards counts towards the likelihood of a Young Enterprise company being presented with the Best Overall Company award at each level.
Targeted at students in higher education
, this programme runs for a full academic year. Participants set up and run their own company, whilst being mentored by a volunteer business advisor assigned by Young Enterprise.
, with 5 sessions in each module.
Charitable organization
A charitable organization is a type of non-profit organization . It differs from other types of NPOs in that it centers on philanthropic goals A charitable organization is a type of non-profit organization (NPO). It differs from other types of NPOs in that it centers on philanthropic goals A...
in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. It is made up of 12 regional organisations, each operating individually under a license agreement. Young Enterprise's mission statement is "to inspire and equip young people to learn and succeed through enterprise."
Early history
Sir Walter Salomon founded Young Enterprise in the 1962/1963 academic year, based on the American Junior AchievementJunior Achievement
Junior Achievement or JA or JA Worldwide is a non-profit youth organization that was founded in 1919 by Horace A. Moses, Theodore Vail, and senator Winthrop M. Crane. JA focuses on educating kids in K-12 about the free enterprise system...
programme. By the 1973/1974 academic year, there were twenty-two area boards across the UK running Young Enterprise programmes. In 1977, the European Federation of Young Enterprise was formed, with the UK, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
and Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
amongst the founding members. This was then renamed in 2002 to 'Junior Achievement/ Young Enterprise Europe'.
In the 1980s, the Company Competition began to take on the form it has today. Young Enterprise companies would submit reports to judges who selected the best from each region. The six regional winners were then invited to attend the National Finals in London, where they would deliver a presentation. Midland Bank (now HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
) also took on the Chairmanship of Young Enterprise in 1988.
Decentralisation and the introduction of new programmes
During the 1990s, Young Enterprise became less centralised. On August 26, 1991, Young Enterprise Scotland became an independent charity operating under licence from the main UK organisation. Similarly, Young Enterprise Northern Ireland was formed in August 1997. Wales followed suit, with its own organisation in October 1999. Aside from decentralising its operation, Young Enterprise also introduced new programmes during the 1990s. Project Business was launched in 1995, International Trading and Entrepreneurship Masterclass in 1997, and a Graduate Programme in 1998.In the 2000s, Young Enterprise continued to launch new programmes and reorganise its regional structure. The Primary Programme, originally run in Northern Ireland, was introduced the rest of the UK in 2000. In 2002, the charity's structure was finalised, with 12 autonomous regional organisations throughout the country. 2003 saw the introduction of a further two programmes, Learn to Earn and Enterprise in Action. Young Enterprise's ninth programme, Personal Economics, then launched in 2005.
Programmes
Young Enterprise currently runs a number of programmes for different age groups and durations. These are split up into company-based programmes and classroom-based programmes.Company-based
In the 2005/2006 academic year, 45,872 students ran 3,783 companies, making up 14.1% of the activity that year.Company Programme
Aimed at ages 15-19 and run during the course of an academic year, this is the core programme run by Young Enterprise. Students form a business and elect a board of directors from among themselves, raise share capital, then create, sell, and marketMarketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
products, attempting to generate profits. While the amount of capital they have to work with is not enormous, significant profits can be produced. One company, Force-7, made a net profit of £5,215 on revenues of £27,442 from £420 initial shareholder capital. Business advisors, volunteers arranged by Young Enterprise, are allocated to their business to mentor students.
There is also a multi-layered competition element to find the best overall companies and departments at local, regional and national level. Candidate business have to create a trade stand and a presentation based on their specific businesses history and their product performance in the marketplace.
At each of these events - local, regional and national level - judges mark each businesses' efforts and present awards that often include Best Presentation, Best Innovation, and Best Trade Stand. Success in these awards counts towards the likelihood of a Young Enterprise company being presented with the Best Overall Company award at each level.
Team Programme
This programme, aimed at ages 15-19+, takes place over 1 or 2 academic years. Students who have experienced difficulties with their learning form a company and work together, meeting every week. Each company is supported by a volunteer from business who works with the students to mentor and advise them.Start-up Programme
Massively updated and relaunched in September as the Start-up Programme the former Graduate Programme has more features and is now completely age appropriate.Targeted at students in higher education
Higher education
Higher, post-secondary, tertiary, or third level education refers to the stage of learning that occurs at universities, academies, colleges, seminaries, and institutes of technology...
, this programme runs for a full academic year. Participants set up and run their own company, whilst being mentored by a volunteer business advisor assigned by Young Enterprise.
Classroom-based
In the 2005/2006 academic year, 244,000 students took part in 5,562 classroom-based programmes, making up 75.1% of the activity that year.Primary Programme
Aimed at ages 4-11, this programme is subdivided into 6 modules for each year of primary educationPrimary education
A primary school is an institution in which children receive the first stage of compulsory education known as primary or elementary education. Primary school is the preferred term in the United Kingdom and many Commonwealth Nations, and in most publications of the United Nations Educational,...
, with 5 sessions in each module.