sife swansea - annual report
DESCRIPTION
Annual Report for the National Competition for SIFE UK Wed 18/Thurs 19 April 2012TRANSCRIPT
The Team, Projects, Impact Figures, Finances & SustainabilityWHAT’S INSIDE
SwanseaTîm Abertawe
page 7
Examine ourSustainability Plan
PEOPLE FACTS STORIES
Meet the Swansea TeamCheck out the guys & girls from Swansea for more details on who we are
Progress GuideWe have made our accomplishments as clear as possible
TestimonialsOur projects are only as good as the participants.
Read our project testimonials inside
NATIONALS | APR 2012Annual Report for the Students In Free Enterprise at Swansea University
The SIFE Team Swansea
The SIFE Team
PRESIDENTBSc Economics
CORPORATE RELATIONSBSc Financial Economics
PROJECT CO-ORDINATORBSc Economics
FUNDRAISING OFFICERBSc Business Management (Marketing)
SECRETARYBSc Accounting and Finance
RECRUITMENT OFFICERBSc Business Management
Ben Hanson
Pradita Rai
Fran Pratt
Hanna Sweet
Sarah Martin
Jo Smith
APRIL 2012 NATIONAL COMPETITION PRESENTATION TEAM
www.sife-swansea.co.uk2
Silver SurfersProject 1
Silver SurfersTeaching Computer Skills
IDENTIFY•Britain’s population is getting older with
more over 65s than under 16s
•Elderly can sometimes be left behind creating a divide in the way we get information and communicate
RATIONALISE•Co-operated with LEAD Wales to
contact local nursing homes
•Conducted a needs assessment
•Implemented a 6 week pilot scheme
REACT•Economic Factor - This service is a
Unique Selling Point for the care home.
•Social Factor - Connected elderly to society and to friends and family
•Environmental Factor - Made use of Recycled computer
SUSTAINABILITY•Empowered the activities co-ordinator
with full training on basic IT skills
•Entrepreneurial Approach with franchise opportunity to other care homes in the area
OUR WORK BY NUMBERS
People Impacted 4
Computers Donated 3
SIFE Members 4
SIFE Hours 48
DonationsWe negotiated with Swansea University and secured the donation of three computers for the care home
Britain is facing an ageing population
where the number of people over the
age of 65 exceeds those under 16.
After conducting a needs assessment on a care
home in Neath, we found
the elderly wanted to learn
how to use a computer
and programmes such
as Skype and e-mail to
contact their relatives. We
decided to implement a
pilot scheme to teach the elderly these skills.
From an early stage we encountered a problem
as the care home was reliant on us bringing our
laptops to the lessons and this meant that the
residents could not practice the skills they learnt.
SIFE negotiated with Swansea
University and managed to secure
the donation of three dell computers
for the care home which allowed the
residents to practice their new skills.
The most enthusiastic residents,
Len, Andrew, Marie and Joyce were able to pass
on their new computer skills and to empower
other members of the care home.
Silver SurfersResidents of a care home in Neath, Port Talbot wanted to learn basic computer skills such as Skype and e-mail to contact relatives
Four residents of
the care home took
part in the project
PARTICIPANTSLENInterested in taking photos and can now print out his favourites
ANDREWWanted to talk to relatives in Scotland and can now use Skype
MARIEScreens make her uncomfortable but came to socialise with residents
JOYCEQuite nervous with computers but managed to write a letter to a friend
“Many care homes do not provide a service that teaches the elderly basic ICT skills”Margaret, a local care home owner
www.sife-swansea.co.uk 3
Business Angels Project 2
RetrosexualOnline Clothing Retailer
IDENTIFY•No physical retail unit
•Lack of brand awareness was failing to produce sales for the company
RATIONALISE•Workshop based on the importance of
social media and effective marketing
•Structured lesson plans on effective data use from market research
•Gave insight to innovative methods of promotion (viral, blogs, video blogs)
REACT•Increased monthly income by 250%
•Secured free advertising in KITE Surf
•Increased profit means owner can invest more time into the business
•Positive promotion at social events
SUSTAINABILITY•Partnership established with Swansea
University for students to gain practical work experience
Social MediaRetrosexual needed some help getting onto the social media ladder and we gave them some hints and tips
Business Angels is a marketing
consultancy project created to
improve the sustainability of small
businesses through promotion.
Most small businesses do not have the sufficient
budget for marketing, SIFE Swansea were
able to provide marketing knowledge for the
businesses to be commercially independent.
This project is part of the integrated module
at Swansea University, one of the first offered.
Out of 18 local enterprises we collaborated
with, Retrosexual Clothing and Mycosolutions
have proved this project to be a success.
To the right are a selection of our best work
we have have achieved this year.
BUSINESS ANGELS BY NUMBERS
People Impacted 351
Money Generated £28,500
SIFE Members 112
SIFE Hours 3360
Business AngelsThese projects were provided by the integrated SIFE Module at Swansea University for Business students at second and third year level
OUR BEST CONSULTANCY WORKTai Esgyn Housing
Improving brand identity as assisted living unit plans to franchise and expand into England.
Impact: 5
MYCO SOLUTIONS
Helping exotic mushroom growers earn more, through better promotion, like at farmers markets.
Impact: 30
Youngsters at the Dynamic Rock Climbing Centre
CHERYL KEY PHYSIO
A new local startup in need of a marketing strategy and ideas for promotion and possible expansion.
Impact: 1
DYNAMIC ROCK
Promote the local climbing centre at schools to get children more active for minimal costs.
Impact: 45
www.sife-swansea.co.uk4
Bryn-y-morProject 3
Our 4achievements
Enabled the school to fund raise £5,000
1 Built New ToiletsCost: £7,000 | Started with: £2,500
To make vital renovations to the school, the Parent-Teacher Association wanted to become a registered charity. With only £2,500 of the £7,000 needed, SIFE helped raise over £4,950 to get construction started.
2 Profitable Cake SalesStarted with: £50/week | Now: £80/week
Through teaching marketing principles and publicity, cake sales went on to make at least £80 a week, a 60% increase!
3 Successful CarolingOriginally: £50 | Secured: £315
SIFE helped negotiate and donations were allowed to be collected (raising £215!) and the original sum doubled to £100.
4 Built Community LinksRaised: £800 | Secured community hall for free
Zumbathons raised over £800 after SIFE and the school helped to secure the use of the hall for free.
Friends of Bryn-y-morThis project helped the local school reach its fundraising aim to build a new toilet block
THE MARKET
The school managed to raise £315 on the day!
IDENTIFY•No funds for school improvements
•Wanted to new build toilet block, quoted at £7k
RATIONALISE•Structured teaching on the importance of
effective marketing and publicity
•Introduced a SWOT analysis - identified an opportunity of increasing productivity
REACT•Economic Factor - Increased sales by 50%,
Raised over 4950
•Social Factor - Established a link between the school and community
•Social events (Zumbathon, Carol Singing, Bingo) involving community
•Gained charity status
SUSTAINABILITY•Integrated this project in academic module
allowing students to participate annually
OUR WORK BY NUMBERS
People Impacted 80
Money Generated £4,950
SIFE Members 5
SIFE Hours 54
www.sife-swansea.co.uk 5
Training the Trades Project 4
Many skilled trades
people are being
made redundant
in the wake of the
tough climate.
This project is aimed at those
who have been laid off with
specialist skills and to start their
own business.
The main target was to give basic business lessons and monitor each business.
We piloted this project on the computer repair industry sector and recruited five participants for the ten week course.
We are now planning to expand
the scheme for next year.
Training The Trades
Our online-only module meant this project could be deployed internationally and it was easier to keep track of participants
SCREENSHOT
Online lesson plans meant
greater flexibility
“I went from making just under $500 a month to almost $2,000 and I would really like to say thanks to everyone at Swansea!”
IDENTIFY•Skilled tradespeople are
being made redundant
•Needs assessment showed people wanted to keep working in their trade
RATIONALISE•Free project advertisement
through the Association of Computer Repair Business
•Designed an online portal for skilled tradespeople to learn business skills
REACT•Economic Factor–
Successfully increased companies’ revenue by $23,500 since December
•Environmental Factor– Implemented a long distance online learning strategy.
SUSTAINABILITY•Plans to expand into non-
specific trades and eventually all trades
•Secured The Association of Computer Repair Business Owners as partners for future project development
OUR WORK BY NUMBERS
People Impacted 5
Money Generated £14,765
SIFE Members 1
SIFE Hours 50
Josh, Virginia Laptop Repairs
www.sife-swansea.co.uk6
SustainabilitySwansea
Team SustainabilityOur plan for a brighter future and a team structure we can easily maintain
136 Members
£48k Generated
21 Projects
3,512 Hours
440 Impacted
£1,084 Profit
This Year In Numbers
2011-12 Highlights•TargetJobs Award Ceremony for impressive judging at the students panel
•Membership increase has developed more creative project ideas
•Received Students’ Union Award for ‘Most Innovate Event’ for our abseil fundraiser
Mission Statement
“To increase SIFE awareness around campus whilst pro-actively continuing to empower individuals in need and achieve financial sustainability”
Team Sustainability•Planned a “Why Do Enterprise Rent-a-Car
Sponsor SIFE?“ talk to motivate current members and entice members to join for next year
•Collaborated with Business & Economics Society to increase awareness of SIFE Swansea
•Devised a handover week for 12/13 committee
•Committee elections to be held soon
•Elected team members will shadow committee
www.sife-swansea.co.uk 7
We started this year
with two things: An
eager team and a
-£506.85 overdraft.
In a previous SIFE Swansea
team, a large purchase was made
for a project before we received
the cheque from a grant we were
informed we applied for successfully.
Unfortunately, the grant fell
through and our account with our
Students’ Union instantly became
one thousand pounds lighter.
The Societies and Services
Officer at the time had no option but
to extend an overdraft to our team
and our accounts were frozen.
Ever since, SIFE Swansea has
struggled to gain enough profit
through fundraising to get back into
the black ink and found it difficult to
get projects done unhindered.
To ensure financial stability, we
had to clear our overdraft. We sold
Krispy Kremes to students at our
university on two occasions with a
revenue of over £400 for the events.
With long term plans in mind we
have created a hand over pack with
a step by step guide to on how to
organise a Krispy Kreme fundraiser and
integrated a fundraising officer into the
committee.
This year we secured funding as follows:
•£1,214 - Business School Support
•£1,821 - Welsh Assembly Government
•£620 - Fundraising
•£416.40 - Project Income
•£265 - Membership fees
This means our turnover figure
for this year is £4,336.40, which has
brought us out of our overdraft at the
beginning of the year and our new
balance is £577.55.
Financial StatementAccount summary information accurate on 10th April 2012
FINANCE FACTS
Turnover: £4,336.40
Profit:£1,084.40
New Balance: +£577.55
Last Year End: -£506.85
Expenses: £3,252.00
CLEARED OVERDRAFTWe inherited an account in debt to our Students’
Union but through fundraising and grants we have
managed to emerge into the black
THE GOODLanding on black ink is such an achievement this year as this has restricted previous teams in how much they can fund projects and teams. This is the highest ever turnover figure!
THE BADIn future years, we would like to reduce the cost of our Travel & Accommodation
FINANCIAL RATING:
Finances Swansea
Our Corporate Relations Executive, Pradita, has built up a relationship with our board for the next year’s team
Richard HughesEnterprise Rent-A-Car
Our Enterprise Business Advisor came to our rehearsals for the regional competition and gave advice.
Tim McCafferyLEAD Wales/Cymru
Tim was instrumental in helping us set up the Silver Surfers project, putting us in touch with the care home we used.
Ben Hanson Corina Edwards
President of SIFE Swansea
University Advisor
Alison Wride
Business Advisory Board
Peter MayLocal Councillor
Peter helped us with the Friends of Bryn-y-mor project, where his wife was the Zumba instructor we mentioned.
Adam ShoreUniversity Lecturer
Adam was key to co-ordinating the Business Angels project and gave much needed help through this year.
Swansea Expenditure
Head of the College of Business, Economics and Law
Transport £2,621
Projects £489
Admin £142