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The next generation of business

A couple of weeks ago I took part as a judge in a competition/scheme run by the Young Enterprise Trust , which Xero sponsors, called the BP Business Challenge. This is a scheme that YE runs around the country to encourage an understanding of enterprise and entrepreneurship amongst 16-17 year olds and acts as a feeder into the bigger Young Enterprise Scheme.

It’s a 3 day event where kids are split into teams (not necessarily of people they know) and they have to come up with an idea and formulate a business plan around the idea.

Obviously the time constraint means that nothing is done too in-depth (there’s not much validation of numbers that would take even the best business minds some time to come up with).

But they are given a view into a world they may not be aware of or envision being able to get into. I have no doubt that some of those kids will become the future leaders in business and with the ever decreasing barrier to entry as a start up I wouldn’t be surprised if I see some of them reach for their vision sooner rather than later.

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