Little Entrepreneurs is a pilot project aimed to empower adolescents to make successful financial choices. Designed to beat the escalating NEET figures where teenagers are(Not in Employment Education or Training) and it`s resultant impact on our faltering economy and local homes and families.
Charity information: Sharei Chesed (london)
Rampant child poverty in Hackney is a key concern:`In 2014, 40% of children in Hackney were living in poverty compared to a national average of 21%.' Being in the 20% of lowest super output area it is crucial to locally address child poverty in it`s early stages when it can still be nipped in the bud.
Department for Education; Child Poverty) 'For a child, growing up in poverty is about much more than just having a low income. disadvantage is often handed down from generation to generation.
Little Entrepreneurs will engage adolescents from local schools as well as NEET teenagers. The project will showcase local businessman and career persons and demonstrate how they reached this stage and obstacles they overcame. The children, in groups, will be assisted by trained mentors to set up their own little business for 1 year . They will learn perseverance, budgeting, prioritising, communication... will then give presentations to their peers evaluating their successes & skills gained .
Empower children with budgeting and prioritising and business skills.
Activities» Each child receives a £8 loan which they must invest; this will empower children with responsibility, prioritising and budgeting skills.
» Workshops on various businesses. Assist children in finding suitable 'business partners' and choosing their Business idea and monthly monitoring.
» Monthly business paper highlighting lessons learnt.
» Success Review evening. Parents and friends will be invited to an exhibition where children will display and evaluate their business successes.
What success will look like
Children`s monthly monitoring and final evaluations of their business. Our observations and professional business consultations reports.
Motivate AT RISK adolescents to utilize and uncover skills so that they can outsmart NEET
Activities» Little Entrepreneurs offers a Care4aCareer scheme which engages teenagers in a series of skills-building courses such as ICT,ESOL, sales and graphics
What success will look like
Children will complete log sheets after each session. Final accreditations and certificates. Course providers reports.
This project aims to equip children with business skills and knowledge required to become successful entrepreneurs and businessmen when they leave formal education. We aim to empower them with confidence in their abilities and help them to practice moving out of their comfort zones - which is the only way to succeed.
We will celebrate their achievements at our Success Review Evening at the end of our project.
After completing our soft and hard risk assessment we have evaluated risks-
Health and safety risks are minimal- We have recruited extra safeguarding officers for additional measures.
Finances may be a risk-we hope not to turn anyone down due to financial constrictions-we thus actively fundraise and budget.
Being that this project is competitive of nature we hope that no child will be discouraged by peers success;our mentors will teach children to learn from peers, accept and learn from errors.
Donors will receive case studies of successful business ventures, as well as bi-annual donor newsletters.
They will also be offered to view our analysis and monitoring reports.
Budget - Project Cost: £80,000Loading graph....
Amount Heading Description £9,100 Venue Hire 5 course rooms, kichen and ICT room for 14 hours weekly for 1 year £13,000 Professional fees Business consultants, careers advisor, finance officer,guest speakers £14,000 Salaries Mentors, course providers and teachers £4,900 volunteer costs volunteer training ,transport and DBS checks £10,000 Monthly Magazine Graphics designer, proof reading, printing and distribution £6,000 initial start up kits and admi Starter kits, admin and part time secretary costs £15,000 Career courses ESOL, ICT, First aid, culinery, waiteressing, marketing, graphics... £8,000 Annual exhibition V enue hire, business promotion, awards, guest speakers, refreshments, technical costs, publicity
Being that our borough of Hackney is in the 20% lowest of indices of multiple deprivation and recognised as a super lower output area it is not surprising that the number of school truant situations and NEET adolescents is on a wild rise.
In fact, government records suggest that youth unemployment is costing more than £500m a year in benefits. In a recent report, the Confederation of British Industry (CBI) warned that this situation could worsen dramatically as the economy falters
This project will be open to school children, at risk adolescents and N.E.E. T TEENAGERS of-unigenders age 15+ in Hackney.
Sharei Chessed has successfully ran training workshops for adults suffering from poverty in the past. We would like to engage with children because we have learnt from our experiences that a solid foundation in business education will help children avoid pitfalls and have better chances to succeed.
We are also confident our professional and regular staff. 85% have already worked for us in the past and the work was always on a high standard. We are also recruiting new staff where recommended .
Read more about the Charity running this project.
Mr Lew is an influential member of the community, a trustee of several large charities and school Board Member. He will be managing the project.