Inspiring Students Changing Lives ANNUAL REPORT 2015 Young Enterprise offers teachers and students a chance to do things differently. Our experiential education programmes let students learn by doing, while our financial education resources help students prepare for the future. We know we’ve made a difference when teenagers tell us about the impact of credit card debt. We love it when secondary students tell us their experience has helped them choose whether to go to uni. And we know we’re doing our job when primary students tell us why it’s important to save. Inspiring students, changing lives. It’s what we do. Number of schools Number of teachers 14% 18% INCREASE INCREASE 2015 = 611 2014 = 535 2015 = 1028 2014 = 870 Staff in 2015 Number of volunteers 17 1725 Young Enterprise Page 2 Contents 6 8 12 14 Chairman and Highlights from 2015 The Digital Frontier Roaming Teachers CEO’s Report 16 18 20 21 Outcomes for Students Our Resources Patron & Board Supporters’ Council 22 23 24 28 Staff and Facilitators Regional Partners Our Schools NZ Business Hall of Fame 30 32 42 Financial Summary Audited Accounts Sponsors and Funders Page 3 Young Enterprise Stephanie’S STORY Stephanie Benseman is a YES alumna and an amazing multi-tasker. Every day she juggles university study, running her own business, managing a small army of Young Enterprise volunteers and mentoring young people. Stephanie took part in The Lion Foundation Young At Venture Up, Steph created her next business, Enterprise Scheme (YES) in 2013 at Marlborough Girls’ Filtr. Filtr connects tertiary students and graduates College. Steph worked with four other students to with roles that suit their skills and experience. create Reverb. The company created and sold dresses The company aims to make life easier for businesses which were made using secondhand fabrics, with a wanting to hire graduates. Filtr launched in 2015 and percentage of the profits going to the World Vision is now working with organisations including NZTA, Micro scheme. Banqer and Properly. Stephanie believes that doing the YES programme Alongside her studies and her business, Steph is changed her life. She is currently working towards giving back to Young Enterprise as the national a Bachelor of Commerce at Victoria University with alumni manager. More than 7000 people have a double major in Management and Information registered as Young Enterprise alumni, and Steph Systems, and a minor in Commercial Law. leads their voluntary work. Stephanie also took part in ‘Venture Up’ which was held for the first time in early 2015. Venture Up is a business accelerator/incubator programme designed specifically for young people. It was run by Creative HQ with support from Victoria University and Wellington City Council. “ Everything I do now started because I took part in the Young Enterprise Scheme. Thank you for providing me with the opportunities that you have.” Young Enterprise Page 4 “ Young Enterprise is hands down one of the best experiences I’ve had to date.” STEPHANIE BENSEMAN, YES ALUMNA Page 5 Young Enterprise YEAR IN REVIEW Chairman and CEO’s Report The 2015 year for us was one of transformation as we embarked on our next phase of organisational change. It was also a year of financial investment as we chose to use reserves built up over the last four years to help propel this change. In recent years, we had moved from being a good classes, assist with how to do assessments, and share organisation that was individually focused and best practice they see across multiple schools. individually driven, to one that was externally focused The evidence and anecdotal feedback has been and collaborative. But the question remained, fantastic. With this role we have seen an increase where to from here? The next logical step for us was in the number of participating schools and students to transition to a truly innovative organisation that and an increase in NCEA achievement. had greater engagement, scale and reach. We were fortunate to receive funding from Minister Towards the end of 2014, the Board of Trustees Kaye and the Youth Enterprise Fund in 2015 to fund challenged the team, asking us ‘if money was an additional 3 x roaming teachers for 2 years. no object, what would you do?’ That was a defining moment as it made us evaluate what we needed Digital Strategy to change to take us to the next level. The whole concept of digital engagement and e-learning has really taken off over the last few years, We identified two major initiatives we wanted to and we wanted to make sure we were at the forefront do: more roaming teachers and our digital strategy. of this movement. We knew both would help us to reach more students and support more teachers, but we didn’t have the Our vision is quite simple – how do we use technology specific funds to do either. to better enable what we do? How do we use to it better support our teachers? To give our students a Roaming Teachers platform they prefer? To better connect our networks For several years with the support of the Ministry of students, teachers and business people? for Pacific Peoples, we have trialled the concept of an expert roaming teacher. This role takes a star We mapped out a three-stage strategy and set about teacher, and moves them into a role supporting in 2015 to implement stage one with a focus on teachers. They assist schools new to Young Enterprise accessibility and connections. While on the face of and support existing schools. Roaming Teachers it, we’ve given our website a facelift, it’s in fact much help teachers plan the structure of programmes into more than that. We’ve developed a full membership site for teachers and students which allows them to Young Enterprise Page 6 find and instantly access our vast array of resources. Our Purpose and Our Culture We revamped many of our resources for the digital We recognised that for us to best help others, we had world and the end result is 8 programmes, 9 games to look internally as well as externally. So we took and 41 units of work. the time to work on our own organisation, defining As we didn’t have the specific funding to do this, the our culture and our purpose. We talked about what Board proposed that this be funded out of our cash students tell us made a difference to them and reserves. We were also lucky to have two delivery decided that our purpose was to inspire young partners (Heyday and Fujitsu) who came to the party people to develop their full potential in business and with significant in-kind sponsorship contributions. in life. We do this by helping young people to unleash their entrepreneurial spirit, develop critical life skills Our Best and Worst Year and realise that good financial decisions give more When we look back at 2015, we had the best year choices in life. organisationally but our worst year financially. We took time to define our brand values and agreed We achieved so much in addition to the Roaming that the following statement reflected what we Teachers and Digital Strategy. Overall, we increased wanted to be, and what we wanted to encourage: the number of teachers, schools and students we make it real, love what you do, try new stuff, aim for worked with. We ran a very successful second awesome, connect & collaborate. ‘It’s Business Time’ conference, where 150 teachers from around the country came together for two Our Village days of inspiration and professional development. As a final reflection on the year, we could not make We extended our work in Teen Parent Units. a difference to so many lives if it weren’t for our large We introduced a new series of “Pick Up & Go” extended family of supporters – our YES regional resources for primary and intermediate schools. coordinators, our BP Business Challenge presenters, We strengthened the work we are doing in junior our sponsors and funders, our donors, our volunteer secondary schools with our EPIC Challenge and mentors and judges, our teachers and our Council. BizNinja programmes. We quantified the impact We are lucky to have almost 2,800 people helping us of the work we do through our YES student survey to inspire tens of thousands of students each year. which measured not just business skills learnt, From our Board and dedicated staff to each and every but life skills, confidence, impact on pathways and one of you, we offer our heartfelt thanks. And to our entrepreneurial spirit. Our students succeeded students, we offer our appreciation because you are NIGEL GOULD ONZM, JP yet again on the international stage, winning the our inspiration every day. And with you as our future, Chairman, April 2016 Asia Pacific title at the FedEx/Junior Achievement we know that New Zealand is in good hands. International Trade Challenge. Needless to say, it was a busy but rewarding year. Our challenge for 2015 was financial. Separate to the investment in our digital strategy, we returned a deficit of $30k. This deficit would have increased to $95k if it weren’t for our international contracts and we continue to rely on these contracts to subsidise our shortfall in domestic income. TERRY SHUBKIN CEO, April 2016 Page 7 Young Enterprise YEAR IN REVIEW Highlights from 2015 Number of schools Number of teachers Number of volunteers 611 1028 1725 More schools and more teachers In addition to teachers and students, the website also More and more schools chose to use Young Enterprise provides information for members of the public who resources in 2015.