Budding young entrepreneurs of the future cleaned up at an awards ceremony at Buckingham Palace - thanks to their bath bomb business.
The youngsters from Hampton College were named Key Stage 4 runners up yesterday in Tycoon in Schools, a nationwide enterprise competition run by Dragons’ Den star, Peter Jones.
The ceremony was hosted by HRH The Duke of York, Patron of the Peter Jones Foundation, as part of his focus on championing entrepreneurship and ongoing support of the Tycoon in Schools competition, as well as Peter Jones himself.
The three Year 10 students from the Peterborough school formed one of just eight teams who attended Buckingham Palace for the final awards ceremony on Monday, March 6, beating around 2,000 other children nationwide to come runners up in their Key Stage.
Indulge, run by Hani Mustafa, (16), Oliver Sainsbury, (15) and Brogan Lawrence, (15), received £122 as a start-up loan from the Peter Jones Foundation in October 2016, investing the money to produce handmade bathbombs.
After months of business planning and preparation, and an intensive trading period throughout November and December, Indulge was selected by a panel of judges based on the criteria of profitability, teamwork, business concept, sustainability and community engagement. The team had a final profit ratio of a fantastic 556 per cent.
Ben Webb, teacher at Hampton College said: “We’ve been so impressed by the team’s enthusiasm, creativity and hard work throughout the competition and we’re absolutely delighted that they’re the Key Stage 4 runners-up.
“Tycoon in Schools has been an invaluable learning experience, and has given our students the confidence to feel that entrepreneurship could be an option for them in the future.”
Peter Jones CBE added: “It is always such a great honour to crown the winners of Tycoon in Schools at Buckingham Palace alongside HRH The Duke of York, KG, Patron of the Peter Jones Foundation.
“This year, we officially opened up the competition to primary schools, and it was incredibly exciting to meet some of our youngest Tycoons to date.
“Every year we see an incredibly high standard of business ideas come to fruition – and this year has been no exception. I have been bowled over by the achievements of all the students throughout the competition, and it has certainly been the most successful Tycoon in Schools yet.”
A team from Westborough High School in Dewsbury, West Yorkshire, were crowned Key Stage 4 and overall winners and presented with £1,000 to fund the continued growth of their business.