Westminster Business School outreach work
6 October 2011
Karen Kufuor, senior lecturer in Economics and Quantitative Methods, ran a two-day Introduction to Business Finance course at The Baytree Centre in Brixton in August. The Baytree Centre is a social inclusion charity, which aims to raise aspirations amongst inner city families and in particular targets young women. The centre offers training, education, skills and opportunities for professional and personal development to women and young people. The introduction to business finance course was aimed at young women aged 14 to 19 years-old and was part of the Baytree Centre’s Summer University Programme, which is sponsored by Lambeth Council.
Course participants learnt about various forms of finance available to small businesses, the importance of constructing a good business plan and reviewing that business plan on a regular basis, as well as the importance of managing cashflows. Some attendees were studying GCSE business, but many were new to finance.
The programme included a visit to the Bank of England where participants learnt about the impact of inflation on an economy and the effect of macroeconomic factors on a small business.
On the second day Carrie Roberts, from Hands on London, lead a sessions on preparing financial statements. The class then went on to work on practical exercises, preparing profit and loss accounts, a cashflow statement and producing a break-even chart for a fictitious company. The course was accredited and all participants received an AQA certificate on completion.
Finally, the young women enjoyed a visit from Westminster Business School student Kim Salmutter, who shared her experience as a business student and answered questions on university life generally and on pursuing a business career. The programme was well received by participants.
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