Following the success of our 'Who Wants To Be An Entrepreneur' competition in 2018, we decided our next Pay It Forward project would be aimed at the younger generation; the entrepreneurs of the future.
Working with The Magic Club - a young people's organisation based in Claremont, Blackpool, we launched our 'Young Entrepreneur' pilot project in 2019. The project was designed to instil entrepreneurial thinking and behaviour in the young participants and help raise their aspirations beyond more traditional career routes. Many had limited self-belief and little-to-no-opportunity to discover hidden ability and talents. We provided them with challenging yet achievable tasks supported by positive role models.
Apply a range of entrepreneurial and core life skills - including communication, teamwork, organisation and budget management - to set up a small business, make it work, and evaluate its success.
The pilot was a great success! You can read the Magic Club's report below. They retained the profits made by the mini tycoons, along with the original seed funding, and now include 'Who Wants to be a Young Entrepreneur?' in their programme. The young participants share their experiences and skills in person and through a "how to" guide, and have kindly offered to pass on advice and handy tips to other groups in the North West looking to undertake their own entrepreneurial challenges.
Pay It Forward
Here at Solomons, we're delighted to see how the young people have embraced the Pay It Forward ethos. For us, this way of learning and sharing is immensely powerful, and we are currently exploring how we can roll out the pilot across our operational area.