Developing enterprise skills
A NFTE-UK case study

Page 1: Introduction

Listen to page 1
[audio=https://download.businesscasestudies.co.uk/player.php?f=bmZ0ZS11ay9tcDMvMTIvcGFnZS0xLm1wMw==&titles=Introduction]

In a world in which young people follow the National Curriculum and then prepare for examinations, it is easy to ignore some of the very special creative skills that they have. Sometimes these skills simply need unlocking. For them to be released there needs to be a purpose. This is something that gives young people the need to achieve as well as think and behave in a different way. One way of...
Read full page

Page 2: Identifying an opportunity

Listen to page 2
[audio=https://download.businesscasestudies.co.uk/player.php?f=bmZ0ZS11ay9tcDMvMTIvcGFnZS0yLm1wMw==&titles=Identifying an opportunity]

The first stage in creating a small business is to come up with an idea. The sources of ideas are varied. The idea may come from a chance thought or an inspiration. Sometimes the idea comes because somebody feels that they could provide a better product or service than a local competitor. The idea may come from a period of overseas travel where an individual may see a product or service that is...
Read full page

Page 3: Researching the market

Listen to page 3
[audio=https://download.businesscasestudies.co.uk/player.php?f=bmZ0ZS11ay9tcDMvMTIvcGFnZS0zLm1wMw==&titles=Researching the market]

Market research Having had an idea and created the business opportunity the next thing is to explore the idea. This is done by undertaking some market research. This will help the owner of the idea to find out whether the business opportunity is likely to be successful. It will help them to understand more about the needs of their customers. From this they can build strategies that enable...
Read full page

Page 4: Costs - start-up and running

Listen to page 4
[audio=https://download.businesscasestudies.co.uk/player.php?f=bmZ0ZS11ay9tcDMvMTIvcGFnZS00Lm1wMw==&titles=Costs - start-up and running]

Starting a small business is not cheap. When a small business begins to operate it has many costs to pay. These can be split into start-up costs and running costs. Start-up costs Start-up costs are one-off costs associated with setting up a business. For example, for a sandwich delivery service, these might include buying a van, getting uniforms for staff, bread baskets as well as cutlery and...
Read full page

Page 5: Enterprise

Listen to page 5
[audio=https://download.businesscasestudies.co.uk/player.php?f=bmZ0ZS11ay9tcDMvMTIvcGFnZS01Lm1wMw==&titles=Enterprise]

Small businesses are not just about people with remarkable ideas. The students at Norbury Manor enjoyed their experience running their own business. They felt that it had helped them to develop many personal and positive qualities. They felt that by starting up a small business they were being encouraged to take a risk. It also helped them to work as a team. When working in teams they had to get...
Read full page

Page 6: Conclusion

Listen to page 6
[audio=https://download.businesscasestudies.co.uk/player.php?f=bmZ0ZS11ay9tcDMvMTIvcGFnZS02Lm1wMw==&titles=Conclusion]

The work of NFTE helps to empower young people from disadvantaged communities. In doing so it provides them with skills beyond the curriculum. The experience helped students to open up their minds to many of the broader and more diverse opportunities within the modern workplace. More than half of employment and turnover within the UK is accounted for by small businesses. The work of NFTE...
Read full page