Supporting Young Enterprise Scotland
ICAS is a proud sponsor of Young Enterprise Scotland (YES), an initiative which provides a practical business experience for school pupils.
Young Enterprise Scotland is a charity that operates in schools with a number of programmes. Their Company Programme is aimed at 5th and 6th year pupils to encourage them to learn about enterprise and business and is one that ICAS is pleased to support.
Young Enterprise Scotland supports around 15,000 young people from all backgrounds every year. The purpose of the charity is to develop young people’s business knowledge, entrepreneurial skills and ultimately become more employable.
Students set up a YES company will be set up for the academic year and are empowered to make all decisions from company name, to choice of product and management of the finances.
Students have their own role – CEO, Marketing Director, Financial Director and those who will work in the company – and they decide how the appointments are made. There's a surprising amount to learn, and ICAS lecturers Heather McNellis and Aimee Weir delivered sessions on Managing Company Finances and Writing Company Reports and Financial Analysis to the students taking part.
At the end of the academic year, the companies compete on a local, regional, national and European level to be crowned Company of the Year. The companies can compete for other awards too, and ICAS sponsors the finance director of the year in the Scottish finals.
I have been involved with YES for the past few years and now act as a judge in the ‘FD of the year’ award. It’s been a challenging year for schools, businesses and young enterprise companies so it’s been great to see so many inspiring businesses and meet their finance directors.
Now more than ever financial controls are needed, so I expect the finance director to be central to the company, understand the finances, manage cash, make a profit and of course enjoy their role. I was delighted to meet many such finance directors in this year’s awards.
Young Enterprise Scotland is a great charity to be involved with and I have thoroughly enjoyed meeting tomorrow’s finance professionals.
If you want to know more about Young Enterprise Scotland check out their website here.