The Future Business Magnates competition is made up of various events as described below...
Check out the timetable to see a summary of what will be happening.
Launch Event
Meet the competition. You will be introduced to Future Business Magnates and to your Business Partner. You will hear from last year's winning team and how they became FBM 2009.
6 November 2009 at Ramside Hall Hotel.
Challenge 1: Building a business team
Compete against your opponents and build your own team. This is an interactive one-day challenge involving a range of group activities including indoor and outdoor problem solving exercises and business simulation activities. The day is a competition in itself, with prizes for the winning team and points awarded for the various exercises will be recorded as your Challenge 1 result.
One-day challenge: 3 December 2009 at Ramside Hall Hotel.
Challenge 2: Our business
Decide and explain what kind of business you would like to set up. What will it do, make or sell? What will you need to buy or organise before you start trading? What will the business name be?
You have £5000 saved up to put into the business.
Deadline for submission: 29 January 2010.
Challenge 3: Our location
Where will your business be located? Why have you chosen this location?
Which locations did you reject and why? What will it cost for the buisness location? Can you attract and grant assistance or loans?
Deadline for submission: 12 March 2010.
Challenge 4: The cash
This is a one-day challenge followed by the submission of an annual budget plan for your business. The challenge will involve a series of interactive workshops and a quiz, all highlighting the importance of cash within your business. There will be points awarded for the various exercises and following the challenge day you will be asked to submit an annual budget plan (ABP) for your business (this will be marked and scored by the Judge).
In addition, two members of your team will meet the 'FBM Dragons' and try to persuade them to invest in the business. Find out more about the Dragons Den.
One-day challenge: 30 April 2010 at Town Hall, Durham City.
Deadline for submission of ABP: 21 May 2010.
Challenge 5: Advertise and flog it
Let your imagination run wild. Create a letterhead, business brochure, DVD or web site to help to advertise your business and let your customers know who you are. Who will your customers be and how do you know? Who are your competitors and why will people prefer your product or service to that of your competitors?
Deadline for submission: 18 June 2010.
Challenge 6: The presentation
This is a team presentation to a panel of judges on the day of the Awards Dinner. The presentation should last 20 minutes and be a combination of what your business idea is, how it will work and why your team should win. The presentation is followed by questions from the judges and the whole event is filmed by a professional film crew.
You should use the opportuntiy to show what you've learned and achieved during the course of the competition. Find out more about the final challenge day.
The final calculation of scores will take place at the Awards Dinner and prizes will be given to the winning team.
Presentation day: 2 July 2010 at Ramside Hall Hotel.