You-nique idea brings a profit for students
STUDENTS at Boston College are celebrating a successful year in business after their mobile phone accessory company, set up through the Young Enterprise Scheme came to an end in profit.
Six students from the College’s Level 3 Business Diploma built their business ‘You-nique’ from scratch which involved registering the company, formulating a business plan, appointing a director and finance manager, raising money through selling shares, sourcing products from a wholesaler in China, securing retailers, and paying their VAT and Corporation Tax.
Student Will Odlin said: “The Young Enterprise Scheme encourages you to set up a real business, where you are responsible for building investment, maintaining sales and paying your bills. We’ve learnt so much from the experience and we’ve really enjoyed it.”
In fact the students have been so successful they were earning between 300 per cent and 900 per cent returns on their investments, by cleverly re-investing profit and buying bulk products internationally.