Young Enterprise Chief Executive, Michael Mercieca, will be stepping down on October 31 and handing over to Deputy Chief Executive Sharon Davies.

In post since April 2012, Michael has led the charity through a period of programme acquisition, mergers and the launch of the new financial education brand, Young Money. Michael will be joining the international charity JA (Junior Achievement) Worldwide (of which YE is a member), as a consultant to work on partnership development.

Michael said: “I’m proud to have led Young Enterprise for the last seven years, during which time we have improved our reach, diversity and impact. I am delighted to be handing the baton to Sharon Davies, our Deputy CEO, providing the charity and all our stakeholders with a seamless transition. I am looking forward to continuing the development of entrepreneurial, employment and financial skills for young people around the globe with my new colleagues at JA Worldwide.”

Grey Denham, Chairman of Young Enterprise, said: “I would like to thank Michael for his innovative work over the last seven years, working with Sharon and the rest of the YE team to place Young Enterprise firmly at the centre of entrepreneurial, skills and financial education.”

Sharon Davies said: “It’s a huge privilege to build on Michael’s fantastic work during his time as Chief Executive. We have amazingly talented young people living across the UK for whom the opportunity to succeed in the 2030 workplace is sadly not yet equal. Our mission to provide young people with the skills and financial capability for successful futures has perhaps never been more relevant or pressing, and I am extremely proud to have been given the opportunity to lead an organisation that has such an amazing heritage and incredible people.”

A company of students from Guernsey schools and colleges have been crowned Best Overall Company at the Young Enterprise South East Regional Final. The final was held at HG Wells Conference centre in Woking as part of the HSBC UK supported Young Enterprise Company Programme.

Ten student teams from Hampshire, the Isle of Wight, Kent, Surrey, Sussex and the Channel Islands competed for prizes across many categories. The winning team, “YEP”, from Guernsey, will go on to represent the South East of England at the UK Company of the Year final in London on 18hth June and could potentially represent the UK in Lille at the European final.

Young Enterprise works with over 250,000 students ever year and thousands of young people aged 15-19 from across the country have set up and run a real business or social enterprise over the academic year with Company Programme – Young Enterprise’s flagship enterprise education programme supported nationally by HSBC UK. Company Programme students have made all the decisions about their business, from deciding the company name and product, to creating a business plan, managing their finances and selling their products.

The winning team, “YEP”, created and sold a children’s book on the environmental problem of plastic pollution.

Their evening flight back to Guernsey was cancelled but this did not dampen their spirits!  Following a phone interview from Gatwick with BBC Radio Guernsey, the team said that they were “amazed and thrilled to have won and to be going to the national finals!”

The Young Enterprise Guernsey Area Board, who support the Company Programme on the Island, said: “Huge congratulations. We are all very proud.”

The companies were judged, across a set of criteria, by Tracy Weston (HSBC UK), Jo Osborn (South East Water), Peter Quilter (NatWest) Tom Wilson (ExxonMobil) and Simon Lewis (Partridge, Muir and Warren).

Tracy Weston (HSBC UK) said: “A massive thank you, what an amazing event.  I was overwhelmed by the students; they were all brilliant and have a lot to be proud of.”

Simon Lewis (CEO, Partridge, Muir & Warren) said: “Working with Young Enterprise as a judge is such a positive experience! If these bright young people are indicative of our next generation of entrepreneurs and business leaders, we can look forward to the future with confidence.”

Jo Osborn (Head of Communications at South East Water) said: “It was a privilege to spend a day with such an inspirational group of young people and see the culmination of their hard work displayed so professionally. I was particularly impressed at the focus all the businesses had made on sustainability and the need to consider the environment and the communities they serve. The number of companies who were developing ideas to help save or protect our water resources was absolutely fantastic, everyone involved should be very proud of what they achieved.”

The companies and schools competing in the South East Young Enterprise Company Programme Final were:

TOK (Hurstpierpoint College) –   Eco-friendly, hand etched, unique, portable, glass water bottles

Harbour (Tunbridge Wells Grammar School for Boys) – Handmade pebble artwork in wood

Deja Brew (Ryde Academy, Isle of Wight) – Freshly ground Single orgin Costa Rican Coffee

Aspire (North East Surrey College of Technology, Epsom) – A self-watering plant pot to grow herbs, small plants and flowers

Tees & Coffee (Peter Symonds College, Winchester) – Reusable coffee cups and t-shits made from recycled materials

Novus (Jersey schools and colleges) – Hand-picked quality treats and toys for dogs in Jersey

Save our Seas (Claremont Fan Court School, Esher) – ‘It’s a Wrap’ – sandwich wrap

Zoomail (Sir Roger Manwood’s School, Sandwich) – Greeting cards made from animal excrement

Unum Jewellery (Eastbourne College, East Sussex) – Artisanal craft Jewellery projecting key values

YEP (Guernsey schools and colleges) –  Sustainable soundboard and children’s book on the environmental problem of plastic pollution

Full list of Award Winners:

Best Video Advert (supported by Federos) – Save our Seas

Creativity Award (supported by TOK) – Disney

Best Teamwork (supported by Partridge, Muir & Warren) – Harbour

Best Customer Service (supported by South East Water) – Harbour

Best Financial Management (supported by NatWest) – TOK

Best Sustainability (supported by HSBC UK) – Zoomail

Best Presentation (supported by ExxonMobil) – Unum Jewellery

Runner Up Company (supported by Met Life) – Unum Jewellery

South East Company of the Year (supported by HSBC UK) – YEP

More than 200 pupils from across Bicester have learnt more about the world of business during a youth enterprise day this week.

Companies from both the public and private sector gave up their time and shared their expertise for the event at The Cooper School on Thursday 4 July.

As part of the day, members from Cherwell’s Healthy Bicester team gave Year 10 and Year 12 students the task of marketing the outdoor gym equipment installed at Garth Park and Spider Park (off Keble Rd), as well as the digitised work-out apps, and then asked each group to pitch their ideas.

Over the course of the day, students from multiple schools worked together in mixed teams while taking part in Young Enterprise’s Launch Pad programme. Through a series of hands on, fun activities students worked on the early stages of launching a fledgling business, balancing a budget as well as creating a brand identity and marketing strategy.

Guest speakers Matt and Sarah Jaycock, founders of High Spec Composites and successful entrepreneurs in Bicester, spoke to students about their unusual pathways into business and the soft skills they needed to succeed.

Guest speaker Andrew Langdale, founder and CEO of The Management Academy, spoke to the students about the skills that make effective leaders while the judging panel deliberated on award winning teams.

Andy Whittard, Managing Director of Cherwell Laboratories and Bicester-born businessman, was part of the judging panel and presented awards for Innovation, Teamwork, Marketing, Elevator Pitch and New Company of the Year.

The day was run by Young Enterprise, a national charity who aim to motivate young people to succeed in the world of work by equipping them with the skills, knowledge and confidence they need. It’s the first time pupils from Bicester Technical Studio, Bicester School and Cooper School have combined for such an event.

After the event, Mark Lambert of The Cooper School said: “My kids loved the day​. My Head of Post 16 said it was the best he’d ever seen​.[The] Head of Business said it had real links to all their studies and gave them a chance to practise theory from the classroom​. I say, very very relevant day for them all, loads of hidden learning going on and had a purposeful feel about the day. Guests speakers pitched it perfectly all bound up in a fun and accessible nature.”

The All Party Parliamentary Group (APPG) on Financial Education for Young People today launches its report into the current state of financial education available to children in the care system.

As at 31^st March 2018 there were 75,420 children in care in England, including those in foster placements, children’s homes, semi-independent living arrangements and secure units. Young people in the care system leave care and reach independence from age 16, and become fully independent at 18 – an age at which 90% of the general population are still living at home. However, the report finds that the vast majority of these children are not provided with sufficient preparation during the course of their education or in the years shortly following independence, to enable them to manage their money (e.g. how to budget, pay household bills, saving) – a crucial skill for adult life.

The APPG, for which Young Money the financial education charity acts as secretariat, found this particularly concerning given that children in care are in danger of being drawn into crime, or find themselves victims of fraud or identity theft. The rise of ‘county lines’, in particular, has seen a steep rise in the number of young people groomed by criminal gangs to run drugs across the country, and there is a huge increase in the number of young people acting as ‘money mules’, with Cifas reporting a 26% increase for under 21 year-olds between 2017 and 2018.

According to Julian Knight, MP for Solihull and Chair of the APPG, “Each year, thousands of young people leave the care system with little or no experience or understanding of how to manage their day to day finances.”

“Required to navigate a range of complex requirements and daily tasks such as paying rent, bills, buying household supplies and budgeting for food and transport – often with limited means – they can find themselves unable to cope and can easily get into debt, or – at the worst – at the whim of criminal gangs.”

The report is based on the findings of an inquiry undertaken in the first half of the year which sought to understand the measures being undertaken to support children in care in terms of the financial education they receive – and what more can be done to support them in understanding how to manage their finances and in forming positive financial habits.

It looks at the specific problems children in care face in accessing and benefiting from financial education, and makes a series of practical and concrete recommendations on how to improve the current position.

Macaulay, who has recently left the care system, said “I was in a pupil referral unit and they did not teach you anything about financial education. They just teach you to do maths, science and english and then expect you to be on your way.”

Michael Mercieca, Chief Executive, Young Money, said “So much of the future of children in care depends on their being adequately prepared in terms of their personal finances. Managing this requires a combination of knowledge, skills, attitudes and experience, all of which must be in place before a young person leaves the care system.”

“While there’s no one silver bullet that can enable this, it’s clear that a number of stakeholders – central government, local authorities, carers, schools, Ofsted, and the financial and voluntary sector – have a role to play in ensuring children in care are provided with a solid foundation for independent lives, careers and families.”

Sarah Porretta, Director of Strategy and Insights at The Money and Pensions Service, commented:
“Our research shows that young people leaving care often become financially independent earlier and with less support than their peers. Financial education is essential for every child and young person, and the Money and Pensions Service is committed to equipping and empowering children and young people with the skills to manage their money with confidence. Targeted support for those who face additional or unique challenges, including care leavers, can make a significant difference in their ability to manage their money independently. We were pleased to contribute to this important inquiry, which adds new understanding to the ways financial education could be improved.”

Stuart Haire, Head of Retail Banking & Wealth Management at HSBC UK commented: “HSBC UK is committed to helping ensure children in care and young care leavers are equipped with the necessary practical tools such as access to banking services, as well as the necessary know-how in terms of a general understanding of how to manage their own finances when they reach independence. We commend this report to our colleagues in the sector and look forward to seeing its recommendations enacted’. 

A copy of the report can be downloaded here.

Inquiry process

The inquiry received 25 written submissions from a wide variety of key stakeholders: the financial capability sector, financial services firms, charity sector, education sector, local authorities, foster carer representatives, fostering services, children’s homes and academic institutions.

Alongside the written evidence, the APPG held three oral evidence sessions in Parliament to help further analyse the current provision of financial education for children in care, including one with young care leavers from across the country – to discuss what steps can be taken across a range of sectors to improve this provision.  The inquiry was co-sponsored by the Money and Pensions Service and HSBC UK.

About the APPG

The All Party Parliamentary Group (APPG) on Financial Education for Young People is the leading voice on issues relating to financial education in Parliament. The APPG is currently chaired by Julian Knight MP and launched in 2011 is one of the largest of its kind, with over 200 Parliamentary members and a wide range of supporters across a number of organisations.

This report builds on the APPG’s fourth inquiry into financial education, ‘Financial Education in Schools: Two Years On – Job Done?’, published in 2016, which examined the delivery of financial education in schools in England and the devolved nations, and the impact of this teaching.