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Young Enterprise Company at the UK FinalJuly 8th, 2016
A business set up by a group of budding entrepreneurs has been listed in the UK’s top 14 Young Enterprise companies from 2,000 entries nationwide.
Blue Resolution, created by 14 boys at Monmouth School, is a discount card which offers 10 per cent off at a selection of shops throughout the town.
The innovative scheme was set up by the boys to unite Monmouth’s independent businesses, save shoppers money and encourage them to support local retailers.
After being named Wales’ best Young Enterprise company in June, the Blue Resolution boys went through three stages of judging: the company report, interviews and a presentation at the UK finals at London’s Emirates Stadium this month.
Two of the pupils, Dan, 16, and Calum, 17, say that successfully pitching the idea to businesses and shoppers alike filled the team with self-confidence and passion for their growing company.
“This is our own little creation so it means a lot to us,” Dan said.
“We wanted to launch a product that is not just good for us, but it’s a service as well, designed to help all parties involved.
“A 10 per cent discount can make quite a difference – especially in jewellery shops.”
Members of the team were assigned to different roles within Blue Resolution, including management, finance, IT and human resources and sales and marketing.
Calum said: “You have to be really driven – we’ve all done a lot outside our school work.
“We’re thinking about it all the time, and always coming up with ways we can improve the business.
“Running it is inspiring us to look at other projects, like joining with the girls’ school and running a Valentine’s Day service to send love hearts between the schools.”
“Pitching is exciting.
“It feels good that adults trust us and believe in the scheme.”
As well as manning stalls at events like the Monmouth School Christmas Fair, the team drummed up interest in town with a stand outside the Shire Hall.
Calum said: “When you step back from it and think we’re only 16 and think we’re actually doing this, it gives you a lot of self-confidence.”
After tax, the company made a profit of £640.