Making Money

Art: Jonathan Robinson

The role of University, aside from allowing everyone to dodge real world responsibilities and have a pretty good time in the process, is to ultimately prepare young people for the world of work. Competition for jobs has always been fierce but in the current economic climate the situation has dramatically worsened, with it recently being reported that almost a million young people aged 16-24 are unemployed.

University education, plus the experience to be gained whilst learning, aims to set graduates apart, yet despite this unemployment remains high. So, with the current job market nut being so hard to crack and positions remaining scarce, there has never been a better time for creative, innovative students to just go ahead and create a job for themselves – by starting their own businesses.

This week (November 14-19) was, unknown to the majority of the student body and the wider community, no ordinary week. Over these seven days, 10 million participants from 104 different countries have been holding events, activities, and competitions to promote innovation, creativity, and business acumen, all in celebration of Global Entrepreneurship Week.

Business and entrepreneurship is typically perceived as a very exclusive area, reserved for those with extensive business, finance, or management training, but this couldn’t be further from the truth.
Global Entrepreneurship Week aims to combat these perceptions, with workshops, competitions and events all held to promote the concept of enterprise within different disciplines, communities, and interests.

Within the University, there are a wide variety of initiatives available to students, staff, and graduates that are interested in enterprise. The University of Sheffield Enterprise (USE) – a section of the University devoted to business support and activities – works diligently to promote the image of enterprise and encourage young people to make their ideas reality, offering funding, coaching, and work space to help individuals along the way.

“Enterprise is about having ideas, doing something about them, and taking the opportunity to bring about change” says Elizabeth Ree, Information Officer at USE. “Global Entrepreneurship Week really helps in what we do, with the wide variety of activities by multiple stakeholders significantly raising awareness.

“At USE, we help students and graduates of up to five years to make their ideas happen. We have a large package of support but the main highlights are a £1,000 Proof of Concept grant, business advisor sessions, and our bookable meeting spaces which allow people to carry out their enterprising activities.”

The achievement of the University of Sheffield Enterprise is easy to see. Their website features a number of success stories of students and staff that have successfully followed their dreams, and with business support have turned their ideas into working businesses. Examples include Clickety Click, a photography business run by students and graduates from Sheffield, Oddtails, a group that write and illustrate children’s stories, and the Will Yaki noodle bar on Portobello, which USE helped find its feet.

In conjunction with Global Entrepreneurship Week, University of Sheffield Enterprise recently held a themed craft fair designed to encourage students, staff and graduates with creative ideas to develop them into working business ideas.

While this concept of mingling art or creativity with business might to some seem strange, creative or artistic students often have the biggest and most exciting ideas – the most essential ingredient in starting a business. Plus, with the growing trend for vintage and handmade items, creative businesses such as these are becoming increasingly popular.

Particularly on the run-up to Christmas customers are constantly on the look-out for handmade or quirky items, which have a much more thoughtful feel than something purchased from your average department store.
Examples of such businesses are all around us, and not just in Sheffield. One example is McKenna Henson, 13, from Nottinghamshire, who flips the usual perceptions of boardroom, briefcase business on its head.
McKenna runs candycouture.co.uk, a website selling handmade candy and novelty jewellery, which she has developed entirely through her own ideas and creative talents.

“For my 13th birthday I wanted some candy jewellery, but once it had passed I realised I could try making it myself. I researched this on the internet and looked at various suppliers of basic materials, calculated how much money I would need to spend to get me going, and with my birthday money I made a start.

“The business itself came after being complimented by family and friends on my designs. I began selling at craft fairs and through the website, which I designed myself along with flyers and business cards.

“While I know fashions shift and change with time, I would love to develop my business by following trends and coming up with new ideas.”

Another entrepreneur with sweet ideas is 22-year-old Katherine Warrilow, from Keele University. Having always been interested in baking, Katherine jumped at the opportunity to trial sell her cakes in her work place.

She now runs Cupcake Yourself, a cake studio with a difference. Not only does she sell the standard fare, but her unique selling point offers the opportunity to transform photographs, logos, or other images into cake decorations, allowing the ultimate in cake personalisation.

“The financial and legal aspects were all things I had absolutely no idea about. So, after applying for a start-up funding grant through an enterprise scheme at my University, I attended business workshops to get a decent grasp of the basics. Then, with the funding, I was able to purchase not only equipment but my website domain so that I could begin selling.

“Once I had my logo, website, and all the tools I needed to do large orders – that was it. Ever since, Cupcake Yourself has been growing and gaining more customers every week.”
This shows that for students that have a burning idea or a creative talent, part-time work does not have to be the only way of making money. However, many do not have the confidence to share their ideas and admit they are serious about taking them further. If they do get the support they need, the results can be very rewarding.

“A lot of people have a creative side, yet it is sometimes still an area that can be overlooked,” says McKenna. “However, it feels more natural being involved in a business that you have created as you are working on something that you are genuinely interested in.”

Katherine agrees, suggesting that though it might not be a conventional path for students or graduates, it offers a huge amount of freedom that cannot be offered within a typical career.
“I never really knew what I wanted to do after University; I wasn’t one of those people who knew for years which career path they wanted to follow.

“While it’s difficult being responsible for an entire company, there are a lot of people out there to offer support. It was always a worry if I was doing the right thing, and I wondered how on earth I was going to get customers or get people to know about me.

“Now, though, I’m much more confident. I have a great brand, a great website, and I am proud of every order I make.

“I never thought in a million years I would be here running my own business and telling people that yes, this is all mine – it’s just me and my cupcakes, and it’s great.”

For students interested in starting their own creative businesses, there are a wide variety of options available to get them started. While craft fairs are the most traditional way of selling creative wares, with modern technology much business can be done online.

Aside from running a website, like McKenna and Katherine, there are huge specialist online networks that allow the development of shops, customer bases, and policies. Etsy.com is perhaps the most popular of these, with a massive amount of international traffic that offers a much bigger market than your average craft fair, as well a large amount of support for those just beginning on their venture.

As McKenna, Katherine, and the various success stories of the University of Sheffield Enterprise show, perhaps enterprise is not about professionals, power suits, or stressful meetings – at least, not entirely. It is also about taking an idea, throwing it out there, and having the confidence and drive to work on and develop it.

“If young people have a passion or a talent, they shouldn’t let it go to waste,’ says Katherine. “If you have an idea you’re already half way there.

“Just be confident and keep working hard. Don’t let anything stand in your way; there is always a way forward. Everyone makes mistakes – you can’t know everything – but the whole process is just a learning curve. Enjoy it.”

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