Citysife Annual Report 06-07

Aim Our aim is to devise, initiate and run programmes that promote a wider understanding of basic financial and economic issues, whilst simultaneously providing guidance and support to those we are working with.

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These programmes will bolster participant’s chances of future career and personal success - especially for those aged 16-25.

Why City-SIFE has identified potential groups of people within society, that have the need, desire and often-overlooked potential to learn. Our primary focus is on ‘at risk’ children and youths – those that have suffered social, behavioural or concentration problems. To address these individual’s needs, our programmes focus on:

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Developing personal qualities Encouraging self-esteem and belief in oneself Mentoring Providing a full enterprise education

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Where London is one of the most vibrant and cosmopolitan cities in the world. Its multicultural nature and great diversity makes it the ideal location for our City-SIFE team to help today’s society, especially young people, in the best possible way. There is no better place to address real economic and business issues in the community.

Enterprise Challenge

PYDs

Hoxton Apprentice

Entrepreneurship and financial literacy programme for ‘At Risk’ 14-16 year olds

Presenting yourself days for GCSE students

Financial literacy programme

The Challenge contributes to an ASDAN qualification through the Prince’s Trust XL programme. Although focused towards the development of a Business Plan and the start up of a business, the combination of teaching and activities are designed to enhance the learning and development of skills

This programme targets Year 10 students in Islington about to move on to further studies / employment. Working in partnership with Islington Council, City-SIFE has developed and conducted PYDs in order to increase the percentage of students moving onto further or higher education.

Paddington Academy

Rokeby School

Wembley High

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700

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Programme length (hours)

16

9

8

35 days

Teaching hours

80

18

64

420

Customised T-Shirts

Car Wash, Tuck Shop, Football Tournament

Fun-fair

Participants City-SIFE members

Businesses

Working in partnership with Training For Life, City-SIFE was invited to develop a programme of materials and workshops to equip apprentices at this award winning restaurant with the skills necessary to manage their finances in a sustainable manner.

Challenges

Students suffered from a lack of self-confidence, and many also had a combination of language barriers, low literacy levels, and low confidence in speaking. Many also found it challenging to work in a group, which was made further challenging by behaviour problems.

Many students identified by Islington Council have had no previous experience in ‘presenting themselves’, be it on paper or in person. This has previously led to lower than expected enrolment in further education, and low success within the job market.

Students introduced to the idea of enterprise as an alternative, exciting future. Financial management skills developed Business skills: market research, marketing & advertising, finance, business ethics

All students created professional, persuasive job applications and CVs. Through this, they gained confidence in both their skills and experiences, increasing their ability to sell themselves, both on paper and in an interview. Additionally, students’ self-esteem and motivation to achieve aspirations increased significantly.

Outcomes

75% of students want to take business further Funding

Every project financially sustainable and low cost

$1000 HSBC Financial Literacy Grant, school funded businesses

Fully funded by Islington Council

” I’ve been very impressed...

SIFE Criteria

David Williams, Prince’s Trust

Key project goals, identified by SIFE

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“...the [City-SIFE members] are very supportive & helpful towards us, and [the programme] is great fun as well and is helping us plan for the future” Elle-May Briley, Paddington Academy Student

“...their confidence has really grown... six weeks ago I wouldn’t have expected them to stand up in front of a group of people” Seamus Fox, Rokeby School Teacher

SIFE has identified several key areas around which projects should be based, in order for them to be effective in creating sound economic opportunity for others. These are listed to the right, along with coloured markers beneath the project titles, which are used to identify which criterion each project fulfils.

“there is no doubt basic financial literacy ... is THE single most important factor in staying out of too much debt” Prudence Leith OBE; Chair, Hoxton Apprentice The Hoxton Apprentice is a training restaurant, providing skills and training for the homeless and long-term unemployed. The apprentices are paid throughout their training and given help to find jobs in the hospitality sector. However, at this stage they often lose control of their finances and end up back on the streets. To address this problem, City-SIFE was asked to develop a targeted, comprehensive financial literacy programme. Initial development funded by team reserves

Market economics

Financial Literacy

Personal Success Skills

Business Ethics

Entrepreneurship

Sustainability

Project sustainability All City-SIFE programmes will be continued next year, through the excellent relationships developed with Islington Council and the Prince’s Trust. Islington Council have also expressed interest in running the Enterprise Challenge in Islington Schools. All students involved plan to either continue or develop their business, or continue to develop the foundation which we have laid. SIFE students look forward to working on both programmes again next year and taking on greater roles. There is a process of continuous development of all programmes and related materials which occurs at the start of each year, to ensure that we improve each and every year.

The future of City-SIFE The team aims to build upon strong foundations laid in the previous 5 years, whilst always ensuring that our resources are well-targeted, in order to ensure the greatest impact.

Business advisory board Tim Hall Young Biz NLP Master Practitioner Ben Leonard HSBC Director, ELCM Eva Malecki Enterprise Rent-A-Car Recruiting Coordinator Steve Morris Young Biz CEO Winston Edwards Persign Associates Consultant

University advisors

In the coming year, key goals include: • Commencement of teaching at the Hoxton Apprentice • Plans to make City-SIFE financially independent • Further expansion of Enterprise Challenge outside London • Development of international projects • Greater exposure of the team to the whole of City University

Michael Tamvakis Cass Business School Associate Dean Paul Palmer Cass Business School Voluntary Sector Management

• Increased media coverage

Thanks to City-SIFE abroad City-SIFE’s Enterprise Challenge has now been run successfully in both Canada and Kenya. A City-SIFE alumni took the materials and skills developed within the team and applied these in two very different communities, with outstanding results. The team aims to provide further support, guidance and materials to further aid the development of City-SIFE projects around the world.

Clare Stockdale City-SIFE Team Leader

Michael Tamvakis Cass Business School Associate Dean