250 students sign up for Channel Islands Student Business Challenge

Monday 22 January 2018

250 students from seven schools in Jersey and Guernsey have started up their own businesses as part of a cross-islands business challenge.

Each of the 70 teams of students aged 11 to 16 started with an initial investment of £100 and will be supported by a mentor from Barclays, EY, Ogier or Sure as part of the Channel Islands Student Business Challenge.

The challenge kicked off on 9 January at the Hotel de France in Jersey and on 11 January at the St Pierre Park in Guernsey. This year’s contestants will be trading until 25 March and selling products such as homemade chocolates and snacks, animal themed gifts, mugs and candles in the hope to win the Challenge. 

At the end of the challenge, teams will face a final 'Dragon’s Den' where they have to impress the judges with their abilities to run a profitable business and, or, benefit the local community. Awards ceremonies will be held on 23 May in Guernsey and 24 May in Jersey to celebrate the achievements of the teams and announce the winners of the 2018 Channel Islands Student Business Challenge. 

Pictured: The students have been given £100 per business, and will hope to turn a good profit as part of the competition.

Local schools participating include Grainville, Haute Vallee, Jersey College for Girls and Victoria College.

John McGuinness, Executive Headteacher of Grainville and Haute Vallee Schools, said: “This is such a great experience for the students and gives them an excellent introduction to the business world.  We are looking forward to seeing our students inspired, motivated and challenged as they develop key employability skills and bring their business ideas to life.” 

Kate Kirk, Head of Marketing, Ogier commented: “The ideas that this year’s students have are impressive, and our mentors are excited to help bring these ideas to fruition.  The teams have already put a great deal of thought and effort into creating and designing their businesses and the standards are extremely high.”

The Student Business Challenge has been running for five years and in that time the students have made net profits of £67,000 through setting up and running their own business. Many teams decided to give a percentage of their profits to charity and since the Challenge started a total of £24,500 has been donated. Charities supported include both local and national organisations such as GSPCA, JSPCA, Les Bourgs Hospice, Jersey Hospice, Great Ormond Street Hospital and Cancer Research.