News from Cass Business School

MSc students turn entrepreneurs to raise £1500 for charity

Teams challenged to start a venture with only £60

Cass students showed off their entrepreneurial flair by raising more than £1500 for charity in an Apprentice-style challenge. Thirty-six students studying for an MSc in Management competed in teams to generate the highest profit after being given just £60 to run their own business for a day.

The challenge was designed to help them explore the skills needed to start their own venture and saw all profits donated to Great Ormond Street Children's Hospital.

Among the money-making ideas dreamt up by the seven teams were businesses selling t-shirts, Greek frappe coffees and lollipops. Other students ran yoga classes and video gaming sessions.

The winning team made £450 after setting up a stall selling lollipops bought from a wholesale retailer. They were closely followed by the students selling frappes who ended the day with a £420 profit.

Another team cashed-in £300 by designing t-shirts with the names of every student in the class imposed on a Union Jack. Ala Al-Ramly, 25, who helped come up with the idea, said: "I'm pleased the money we helped to raise will go towards supporting a good cause. This was a useful learning experience and a real chance to test our business sense."

Professor of Entrepreneurship Julie Logan, who planned the task, said: "After starting out with just £60, I'm thrilled the teams drew on all their entrepreneurial skills to raise £1500 for this important cause.

"As well as supporting Great Ormond Street Hospital, this challenge aimed to give students an understanding of what it's like to start a new venture, and encouraged them to explore whether becoming an entrepreneur is a future career they would like to pursue."

Alexander Debare, 22, said: "You can learn only so much in the classroom. The only way of really finding out how the world works is putting theory into practice. This exercise really opened my eyes to how you can make money from the resources around you and by talking to people you know."

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