Two dozen 16 and 17 year olds formed Anagenesis, appointed directors, carried out market research, developed a product, sourced suppliers and then marketed and sold their unique product called Wireworks.
It wasn’t all plain sailing. A problem with the dye used in the product needed resolving, there were some personnel issues and sourcing a competitively priced manufacturer was difficult. But the team overcame all these challenges – and more – and worked together to turn in a profit in its first few months of trading.
Although the Young Enterprise project is now completed, Anagenesis has had enquiries from retail outlets keen to stock the product. As a result they are now looking to register the product design and possibly continuing the business.
The end of year company report put together by the team, led by managing directors Emily Morgan and Megan Chittock, scooped a special award at the Young Enterprise Peterborough Area Awards ceremony. The report was judged the best by Anne Corder who has been involved with the scheme for a number of years – and the team will now go on to compete in the regional finals.
Ms Corder visited the team at their school on Thorpe Road to say a personal well done and to talk to the students about their experiences. She told Peterboroughbusiness.co.uk, “Anagenesis came up with a unique, contemporary solution to the very modern day problem of twisted headphone cables. Not only was their product good, their organisation was excellent and they kept a very tight rein on vital business components such as budget.
“The report they compiled was excellent – they included plenty of detail and didn’t shy away from discussing problems they had encountered and the lessons they had learnt.
“It was a pleasure to visit the students at school and talk to them about their plans for the business – and for the future.”
The Young Enterprise Company encourages students to set up and run companies over the course of a school year, marketing and producing products or services to sell to students, school visitors and at Young Enterprise Board trade fairs. Each school company is supported by advisors recruited from the business community.
Photo caption (click photo for full size version): Anagenesis’ managing director Emily Morgan (left) and deputy Megan Chittock (right) receive their Young Enterprise certificate from Anne Corder watched by the rest of the company members.