College Project
Aided
by a grant from HSBC we implemented an effective financial literacy programmes
for colleges. Time was spent with Business Administration students from Coleg
Glan Hafren who completed a variety of ‘business games’ related to financing
decisions taking into account insurance, debt etc. We also worked with Young Enterprise to
implement the teaching of Financial Statements through P&L/Balance Sheet
games such as ‘match the assets to the liabilities’ and ‘Account for your
business!’.
1)
Current economic downturn—unemployment has passed 2 million for 1st time since
1997—monetary decisions matter e.g. Save v spend
2) Gross National Debt is now
greater than GDP
3) 90% of teenagers worry about
money on a daily basis
At
start 24% of students professed some knowledge of financial statements—89%
afterwards.
SIFE
Cardiff have just entered into partnership with Venture Wales to use innovate
IT training software to extend its schools college program!
Lee
Sharma, Enterprise Development officer at Coleg: “ They were professional in every way
from the pre-event arrangements through to post-event feedback. They were
flexible in their approach and organised an innovative and interactive session
based on our requirements. We are building an excellent relationship with the
Cardiff University SIFE team and I look forward to our next event.”
Financial Literacy— Students taught about
financing/funding opportunities, importance of budgeting and how to apply
financial statements to their business.
Business Ethics—
Encouraged to think about sustainable practices along with other entities such
as social enterprises. Group activities demonstrated this.