The intention of the project is to equip the participating students with the skills and knowledge to become the entrepreneurs and wealth creators of the future. It is also hoped that the overall experience will motivate and persuade them that entrepreneurship can be a future career route where they can be successful. Throughout the project the students will learn about how to complete a business plan and the many elements that are essential when running a business; for example, the importance of managing finance, methods of promotion and how to recruit and manage your staff effectively. They will also learn practical skills such as teamworking, giving verbal presentations and enhancing foreign language skills. There will also be the opportunity to develop and improve the
‘soft skills’ which are so important in business; this includes interpersonal skills such as the ability ability to listen to others and consider their views. The students will also be required to take and manage risks and learn how to make well informed decisions.
For the schools involved the project will raise the profile of entrepreneurship immensely. Governments across Europe are especially keen for students to learn about it and gain practical experience. It is intended that a range of different students with different skills and backgrounds can be brought together to form the companies.
Parents will be invited to all of the student presentations during the meetings in the member countries. Not only can they witness the developing skills of their sons/daughters but many will also be able offer valuable insights and observations from their own work experience.
The project will be supported throughout by members of the local business community in each member country. This will give them an opportunity to raise their profile locally and get involved in supporting the local community. Many businesses are particularly keen to support local schools and education and see this as one of their objectives in terms of corporate social responsibility. Local business people have often attended the participating schools themselves or have children or family members there at present.
- Impact at the local, regional, national, European and/or international
At a local level the project will raise the profile of entrepreneurship and improve the skills and knowledge of a significant number of young people. The project and the topic of entrepreneurship will become more widely known about and understood because of the many ways the results will be disseminated. In the future it is hoped that the young people will set up and run business in their local area or regions or possibly more widely in the European Union. As we live in a global economy it may be that the students run businesses selling their products or services to a much wider and larger international market. By setting up and running businesses the students will be helping to develop their local and regional economies and increasing employments opportunities for others.
- How to measure the impact.
At regular stages throughout the project the students will be asked to complete evaluations. The focus will be upon the success of the meetings and on how much the students are learning about entrepreneurship and business.
The visiting members of the business community (who will witness student presentations and see the progress of the business plans) will also be asked to feedback their observations through questionnaires and interviews.