Full marks for business students
Stonyhurst College’s entrepreneurs faced their local Dragon’s Den with enterprising ideas and financial analysis, which earned them high praise from Lancashire’s business community.
The IB Business Management pupils were taking part in a Dragons Den competition, run by the Lancashire Young Enterprise Area Board. The pupils pitched their Social Enterprise company, Ad Maiora, which has been an integral part of the IB Business Management course. The company’s mission statement is ‘Great Futures Start Here’.
The Stonyhurst students have been working hard to create a range of products upcycled from old Stonyhurst kilt fabric, which they have been selling. They were competing with schools from across Lancashire, as they pitched their ideas to four local business people: Mark Hope from Stonehouse Logic Ltd, Bharat Parmar of Asda Stores, Helen Shepherd (Pennine Fire and Safety Ltd) and from South Ribble Borough Council, Andrea Smith.
The Stonyhurst students' pitch included presentations of their accounts, marketing ideas, and, of course, the products. The four members of the team - Lara Schick, Gereon Gaudig, Emily Cafazzo and Marco Troina - then faced tough questioning. The feedback was excellent, with comments including “confident market analysis”, as well as an impressive full marks for their financial analysis.
As a social enterprise company, Ad Maiora also has a social objective: the pupils aim to use their profits in order to support the improvement of education in developing countries. Enora Le Masne De Chermont, the company’s Financial Director, commented : “Social Enterprise has really helped me improve my financial skills, as I have had to produce all of the accounts and cash flow statements for the business. I have enjoyed calculating and sharing with the others how much profit we have made after each sales event!”
Photo: The Stonyhurst Business Studies team with the Dragons