Trading Places 2016
by Site Admin on Wednesday 15 February 2017
Having completed a series of entrepreneurial challenges throughout the autumn months, 36 students from six colleges around South Wales have put their commercial skills to the test by operating a number of pop-up Christmas market stalls in Cardiff city centre on Thursday, December 15th. The ‘Trading Places’ initiative, which is run by First Campus and Big Ideas Wales, saw the budding entrepreneurs take over a unit in the Morgan Quarter and establish it as a festive marketplace in which to sell their own carefully selected products to the public.
Following a successful day of trading, a presentation evening took place at the University of South Wales, Cardiff Campus in which three team and three individual awards were given by a panel of judges to the following:
The group of 36, who attend Bridgend College, Coleg Gwent, Coleg Y Cymoedd, Cardiff & Vale College, St David’s College and The College Merthyr Tydfil, were selected from 120 students at the Enterprise Skills Day event at Cardiff City Stadium last month. At the day-long training camp, the wannabe moguls impressed the judges with their keen business acumen, and all received training and mentorship from some of Wales’ most successful start-up entrepreneurs, many of whom serve as Big Ideas Wales Role Models.
It is hoped that the practical experience gained at the Enterprise Skills Day and Trading Places will give the college goers the confidence to explore entrepreneurship as a viable career option. In the two days leading-up to the trading day itself, the teams put together Dragons-Den style pitches to event sponsors, which determined the order in which they could pick product lines to sell. They then had to conduct market research, formulate a business plan and finalise their products for sale in the 24 hours leading up to trading day.
A UK award-winning project, Trading Places has also helped inspire a change in business strategy for the privately owned Morgan Quarter. It’s director, Rory Fleming, said: “We are extremely pleased to welcome back another group of young entrepreneurs for Trading Places, for what has been an another incredibly valuable day of trading – both in terms of revenue and life skills.
Martin Burgess, a participating student from Coleg y Cymoedd, said: “It’s been great to be part of Trading Places. Once I’ve completed my business course at college I want to set up my own restaurant, so the experience of running a business has been amazing.”
MadeInCardiff TV ran a piece on the Trading Places initiative. You can watch the clip, starting from 6:47 in the following link - https://www.madeincardiff.tv/player/?playercat=90541&vid=lda8riw8&v=2
Further details of the event, including award winners, can be found on the First Campus website.