Young people are a priority target group within the County Durham Economic Strategy (2008-2013), focusing on the need to ‘raise the aspirations of young people... to increase the number of people interested in starting a business or becoming self-employed’.
Schools
The competition provides an outlet for schools to encourage entrepreneurial attainment and to promote social and economic awareness amongst students.
Students
Future Business Magnates will:
- Introduce students to the excitement and exhilaration of working in business.
- Broaden their understanding and knowledge of job roles and functions.
- Develop their communication, presentation and research skills.
- Assist them with their study choices.
Businesses
Future Business Magnates introduces local businesses to the world of education and provides a basis for developing corporate and social responsibility throughout the area.
Companies can be involved in a number of ways; some are ‘Business Partners’ and dedicate their efforts to one particular school team. Other businesses are ‘Business Sources’ and their expertise will be available to all teams upon request. Furthermore, a number of businesses and organisations are involved in the role of sponsor, supporter, a judge for one of the Challenges, or even a 'Dragon'!
In conclusion...
Future Business Magnates continues to go from strength to strength, with more teams than ever competing for the coveted title.
The success of the competition can be measured from the interest shown throughout the County, and also by the commitment shown by the many businesses and organisations now linked to the initiative.
Read more about project partners and County Council involvement.