Future Business Magnates is a highly successful business enterprise competition for schools. The competition was established in 2005 and has grown from its small beginnings to cover most of the secondary schools in County Durham.
Future Business Magnates is launched each year in the Autumn term. Each school selects a team from Year 8 who are given a brief to start a business inspired by the theme of the competition. The theme changes each year and reflects aspects and elements of the current business environment. Each team develops their business idea and participates in a series of six challenges which include everything from team building, product design, marketing and finance. Ultimately pitching their business to a panel of industry experts at the close of the competition before the Awards Dinner at the end of the competition where the winners are announced.
The students are stretched and challenged to come up with a viable business and many of them do just that. In 2015, the challenge was very special – to create new products and services from new applications of light to coincide with Light2015Durham, Durham’s year of light. The 2016 competition challenged students to develop a new product for the home which will be manufactured in County Durham.
2017s theme encouraged teams to work towards producing a product or service which would help in 'Connecting County Durham'.
See which schools are taking part here.
If you want your business or school to get involved in inspiring the next generation of business leaders, read more or contact us now.
Business Durham is eager to expand the experience of young people and we believe that it is never too early to immerse yourself in the business of business. That is why throughout 2017 we have been piloting a new variation on FBM. Designed to introduce year 7 students to FBM and get them ready for the main competition, FBM Freshers is open to all secondary schools in County Durham. This half day workshop allows a whole year group to find out about how innovative ideas can be turned into successful businesses and teaches the basic techniques students will need to successfully participate in FBM in year 8.
These workshops are delivered free of charge to schools in County Durham. If you would like to know more about FBM Freshers or to book a session contact us.