New Business for Brentford High Street
Education Business Partnership Competition Final to Select Social Enterprise for Brentford High Street
Over the past two months students from schools across London Borough of Hounslow, with the support of their teachers and industry advisors, have been working hard to develop a range of potential business plans for a new retail business to start-up in a vacant retail unit on Brentford High Street.
On Friday 26 November the winning business plan was selected in a competition final at Brentford's Musical Museum. When the new business opens in Q1 2011 it will provide new job opportunities for local young people currently not in education employment or training.
The project has been supported by national businesses such as Traid and McDonalds, as well as local firms from Vokins to Western International Market. Key supporters are the Local Innovation Transition Fund: Backing Young People, Heathrow Community Fund and Ballymore. The project is one of just six nationally to receive support under this Local Innovation Transition Fund scheme.
Ruth Cadbury, Deputy Leader of Hounslow Council said:
"In the current economic climate it is vitally important that we create new job opportunities for young people in the borough. The London Borough of Hounslow and the Education Business Partnership have worked together closely since the project's inception to address this growing problem. Uniquely the new social enterprise won't just employ young people, but will take the best retail business idea from local six formers and make it a reality. Business plans entered into the competition will be rigourously examined against a set of criteria to identify a business that we hope will be financially viable, as well as socially and environmentally responsible. I look forward to joining a diverse panel of 'Dragons' on Friday to select the winning concept."
Kate Vintiner, General Manager, Hounslow Education Business Partnership added:
"This is the first project of its kind in the UK and Hounslow Education Business Partnership is proud to be at the heart of it. We have taken an idea first developed in Hong Kong and transferred it to the UK, building on our existing expertise in running business planning competitions. Alongside the competition we are training ten young people that are currently unemployed in the borough to recruit the most motivated of them into the new retail business."
Sixth formers from Hounslow Manor commented that their participation in the competition revealed:
- “…the amount of work, that is required when setting up a business”
- “Business is one big game, you have to do the best to beat the rest”
- “Anything is possible”
- “Business is harder than I thought, but hard work and perseverance pays off”
And that they valued:
- “Getting advice from business professionals at the after school sessions”
November 29, 2010