The Government’s Enterprise Champions Programme is a positive initiative that will ultimately create the entrepreneurs of tomorrow, according to a leading business organisation. 

But the opportunity for schools to create and manage their own student businesses must be followed through with tangible support from the business community, and must also ensure that the vital importance of cash and cashflow for business survival is properly communicated.

In giving its backing to the scheme, The Institute of Credit Management (ICM) is continuing its support of bringing financial learning into the classroom. In January 2011, Chief Executive, Philip King, joined the Shrieval Council of DebtCred, the financial literacy project for secondary schools and has been a member of the pfeg (personal finance education group) forum since 2006.

Gaining business experience and insight at an early age should always include financial education, which is key to ensuring future business success, says Mr King: “Allowing students the opportunity to run and manage a business while in the school environment is going to be an important step in driving the enterprise-led recovery,” he says.

“But there will be a specific need to focus on the importance of cash and cashflow management. A poor business with good cashflow management can survive; conversely, a good business that fails to manage its cashflow effectively will fail.

“This is a genuine opportunity to educate and train our youngsters, giving students a real work experience that will be beneficial to the business world later on.”

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