Young Enterprise Bromsgrove School

We are Nations, a Young Enterprise company from Bromsgrove School. Motivated by the mission of providing young people of several age groups (5–8, 9-12, 13-16 years old) with a product that would benefit them in the future, we came up with a practical yet educational moneybox that encourages more efficient money management and financial awareness. The name of our company was chosen to reflect that we are students from all over the world.

We have learnt many lessons throughout the journey and faced problems which we eventually overcame. Firstly, when discussing our product ideas, we had several interesting ideas and found it difficult to choose the best one. We carried out a questionnaire in order to gather information from our target audience regarding which product would be more appealing.

Bromsgrove School

Our first trade fair was a major turning point for our company as we made our first profit. Prior to our first trade fair, we had two products: money boxes and coaster trees. We were apprehensive about whether they would sell. However, after reviewing the sales figures and customer feedback, we realised that our money box was sold more and had potential of being developed. Hence, we decided to solely focus on the money box and develop it further. Having noticed that younger people have low financial awareness, we decided to offer an informative leaflet alongside our money boxes in order to further emphasize our educational message and encourage saving from a young age.

Our next step was making our manufacturing process more efficient, categorizing each member based on their personal skill set and previous experience. We organized for several team members to proceed with production within their free time. Additionally, we decided to add further depth to our product by diversifying it in order to make it more suitable for needs of different customers. This helped us come to the decision of creating different sizes and designs (depending on age), as well as incorporating different age categories to our informative leaflet. At this point, we were proud of our work, not only was it an educational product, but it also reflected our own ambitions to be more financially aware from a young age.

Throughout the process we were able to think creatively and independently about product development. We also acquired skills of creating brand image, product marketing and creativity. Our improvements were evident at our second trade fair where we sold 18 money boxes (almost twice the number achieved in the first trade fair) and managed to generate a profit despite a smaller number of customers.

On the 21st of March we attended the North Worcestershire judging competition. Despite not making it through to the next round we have achieved awards for best teamwork and presentation. However, winning these awards wasn’t the main reason we all joined the Young Enterprise programme. Looking back at our journey, we were motivated by the opportunity of gaining experience in the business world and learning lessons through the problems we faced. Young Enterprise has provided us the chance to undergo an unforgettable experience and gain invaluable skills that will be integral to our future career.

If you want to know more about Bromsgrove School or their Young Enterprise groups? Contact James@hotsourcecreative.com today.