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Win a share of £101K!

INVESTING IN GREAT IDEASInspiring and rewarding young entrepeneurs

RECOGNISING AND CELEBRATING ENTREPRENEURIAL SKILLS

How to get ahead in Business...

By the end of 2015 RBS Inspiring Youth Enterprise will help 100,000 young people explore enterprise, build their skills and start up in business.

We want every young person to have the opportunity to consider starting their own business. We do this through our own products and services, but also by working in partnership with the youth enterprise sector and charities such as The Prince’s Trust.

One of the ways we are inspiring youth enterpriseis through the unique RBS ESSA and RBSEnterprisingU competitions, created and run by Find Invest Grow. These competitions offer universitysocieties and young entrepreneurs opportunitiesto win thousands of pounds for great ideas andbusiness ventures, which not only reward enterprisebut help young people develop vital skills todifferentiate them in the world of work.

So, if you’ve got the ideas, enthusiasm andcommitment, we will match it and provide the opportunities for you to succeed.

Read on to find out how 1

You don’t learn to walk

bY following rules. You

learn bY doing, and bY falling over.

sir riCHard branson

(Don’t walk when you can fly!)

INSPIRING ENTERPRISEPAGE ONE | TWO

“Everyone can benefit from developing their enterprising spirit and skills. And what’s great about these programmes is that they are open to everyone, not just those who identify themselves as entrepreneurs.”

Thom Kenrick, Group Sustainabilty, RBS Group

what this guide tells youThis is a step-by-step guide to tell you all you need to know about the RBS ESSA and RBS EnterprisingU. Read on to find out how to enter, to stand a chance of winning a cash prize!

You’ll also find a comprehensive guide with 12 essential tips to managing your university societies’ money effectively.

who this guide is forEnterprising young people who want to go places:

• If you are involved in running a university society, find out how the RBS ESSA Accreditation and Awards can benefit you and your society

• If you are an individual still at university or newly graduated and have a great business idea, the RBS EnterprisingU competition can make those ideas fly

• If you are responsible for the finances of a university society, we have an essential guide with top tips on how to manage your society finances responsibly

“With the employment landscape becoming increasingly competitive, it is more important than ever to celebrate and reward the achievements of the UK’s most enterprising students. We’re very much looking forward to seeing the standard of entries this year.”

Director of Find Invest Grow, James King.

organisations you need to know

rbs group The RBS Group is one of the UK’s leading banking institutions with 40 million customers globally. Operating through well-known brands such as RBS, NatWest and Ulster Bank, the RBS Group helps 2,000 new businesses to start up across the UK each week. Through RBS Inspiring Enterprise we’re helping more people to explore enterprise, build their skills and start up in business.

find invest grow (fig)FIG works with young entrepreneurs, specifically undergraduates and graduates of the past five years, and helps them to crystallise their ideas, supports them through the development of business plans and introduces them to suitable investors. FIG offers these suitable investors access to its unique website to browse and precisely filter investment opportunities that are of interest to them with a view to investing themselves or to offer their expertise as part of a management team.

INSPIRING ENTERPRISE

How rbs essa helps The employment landscape is getting increasingly competitive for graduates, with 70% getting a 2:1 or above. Most graduates will present similar CVs. To compete in this environment you need to differentiate yourself. Employers are looking for you to go that step further. An RBS ESSA Accreditation can help you stand out from the crowd.

Certificates, provided to accredited society members, demonstrate achievements and entrepreneurial talent and are recognised by employers, who will be even more impressed if your society won a cash award!

rbs essa workshops to develop your enterprise skills will be held on campus throughout the year, so keep an eye out for them!

Question:

Answer: a chance to win £21,000 for your university society – but a lot more too

The RBS ESSA (Enterprising Student Society Accreditation) is a national scheme created and run by FIG, and sponsored by the Royal Bank of Scotland Group. It gives your society a recognised and official stamp of approval for the activities and achievements you’re already doing. If you’re ambitious, accredited societies can then apply for cash awards.

what is the rbs essa accreditation and awards?

PAGE THREE | FOUR

Any university society, from sport, to finance, to arts can apply. Apply for RBS ESSA Accreditation for FREE at rbsessa.com.

Once your society receives accreditation, society members are issued with RBS ESSA certificates.

You can then apply for the RBS ESSA Awards, also at rbsessa.com.

By applying, you’ll have the chance to:

• win up to £21,000 for your society

• attend the RBS ESSA Awards ceremony

• become an RBS ESSA sponsored society

As a winner, you’ll have the chance to:

• achieve national media coverage • write an article for our Telegraph

online hub• apply for work experience at RBS

The more enterprising your society, the more money you stand to win – and you can win more than one cash award.

93% of universities

in UK took part

The AwardsThe Awards are split into different categories, and you need to decide which category your society fits into before you apply.

University of Warwick Finance Societies Winner of Most Enterprising Student Society Award 2012 - £15,000

With a turnover in 2011 of five figures and with 1,900 members, Warwick Finance Societies is the University of Warwick’s largest society on campus. Made up of the four principal finance societies, it aims to help students discover great job opportunities and gain the skills necessary for a career in finance.

The society, sponsored by RBS Group, JP Morgan and ICAP runs an extensive calendar of events hosted by top employers, such as BlackRock, and holds various talks with industry leaders. The society has also organised trips abroad to a variety of locations including Hong Kong. The society will use the £15,000 prize money for a major cultural, financial and charity trip to Mumbai and they are also setting up a student-run investment fund.

The Jewel in the Crown

The University of Leeds Men’s Hockey Team Winner of the Bronze Award 2012 - £5,000

University of Leeds Men’s Hockey club is one of the largest student hockey clubs in the country boasting a membership of 120 and six teams playing in both domestic and university competitions. They have raised £35,000 through sponsorship and fundraising, as well as organising charity events with local businesses and communities. Last year they implemented an alumni network to enhance the profile of the club and prospects of its members.

You can see their entry here:

youtube.com/watch?v=11_pnYqTDw8

If you have any questions about RBS ESSA email us

at team@theessa.com

Visit our website as rbsessa.com

Video entries will be posted on a dedicated YouTube

channel youtube.com/user/RBSESSA2013

Join us on Facebook on facebook.com/rbsessa

Follow us on twitter @rbsessa

INSPIRING ENTERPRISE

RBS ESSA FACTS

317Accredited student societies in 2011

£1.8m Collective turnover in 2011/2012

79,000Combined membership of accredited societies

15 Societies accredited at University of Bristol alone

PAGE FIVE | SIX

“Running the hockey club was some of the most important busines education I’ve ever gotten. If I had to choose between getting an MBA and running something, even a college club, I’d pick running something every day.”

Brian Chesky, Co-founder, Airbnb

Uniquely, the RBS EnterprisingU competition also helps winners gain business advisors and other potential investors.

You can start your entry to the competition by registering on the RBS EnterprisingU website. www.rbsenterprisingu.com The website will ask you to fill in two online forms to test your idea for business viability. This process also introduces you to a wealth of tools and resources specifically designed to help your business grow.

Shortlisted candidates will be invited to workshops to help crystallise their ideas and business plan. Finalists will then be invited to pitch to a room full of investors at the RBS EnterprisingU final in September.

Watch out for details of entry dates of the competition on www.rbsenterprisingu.com. Don’t miss out on the chance to win a share of £40,000 of prize money!

first prize: £25,000

second prize: £10,000

third prize: £5,000

RBS EnterprisingU is a nationwide business plan competition open to any student or graduate of the past five years who has either a business idea which needs kick-starting or who’s running a business which needs further investment.

Finding your

inspirationSalesGossip Overall winner of £25,000, 2012

Co-founder and CEO Zabetta Camilleri started up her online fashion company, which brings up-to-the minute, local, inside information on sales and discounts for fashion brands to discerning shoppers, in the London Business School, sharing space with lots of different start-ups. She developed the idea of bringing fashion bargain hunters together with retailers wishing to gain greater sales for their tactical promotions and discounts via email, phone apps and other social media platforms. The company has been a runaway success. Winning the £25,000 award has helped them to recruit their first employee, redesign their website, develop mobile apps and to move out of the London Business School to their own premises in Shoreditch, London as well as attracting further investment. As a London-based company, SalesGossip has gradually expanded to other major UK cities and the company continually gets requests about venturing into the global market.

INSPIRING ENTERPRISEPAGE SEVEN | EIGHT

aston university Top university for entries

22 semi-finalists

foodthe most popular category of idea entered

6made it through to the final

RBS ENTERPRISINGU FACTS

If you have any questions about RBS EnterprisingU email us at info@findinvestgrow.com

Visit our website rbsenterprisingu.com

For up-to-date business tips and new insights follow us on twitter @enterprisingu

Join us on Facebook: facebook.com/rbsenterprisingu

Join the professional networking platform LinkedIn: linkedin.com/rbs-enterprisingu

Look to the future

Ventive 2nd place winner of £10,000, 2012

Whilst a student at the University of East London, Tom Lipinski was researching how to make existing buildings energy efficient at a low cost and was surprised at the lack of products available on the market to do this. He set to work creating ‘Ventive S’ – an energy efficient ventilation device that operates on nothing other than natural air-flows. Tom then gained government funding to start developing his product.

The RBS EnterprisingU competition provided £10,000 to help further develop Ventive as a business venture. Additionally, potential investors who attended the awards ceremony were so impressed with Ventive that the company secured two major investors. Both of these have committed funds to enable Ventive to transform from a product and business idea into a fully functioning business, employing staff and launching the product into the market place with plans of rolling out the product into five million housing association homes and taking it abroad.

Developing good financial habits will help you throughout your life but are also important for your society now and in helping it grow long term.

These top tips will help your society to financial success. They will also help you develop essential financial management skills and ensure it will be in tip-top shape for future students to enjoy once you have moved on.

1. Appoint a Treasurer

Your society will need at least one person dedicated to looking after its finances. Ideally someone with financial knowledge (an accounting or economics student perhaps). Larger societies with more complicated or time-consuming financial administration may establish a financial team, including a treasurer, book-keeper and possibly an accountant.

2. Money management

There are a number of tasks involved in running a society’s finances. These might include:

• annual budgets • cashflow forecasts • preparing accounts • book-keeping • cash handling and banking • paying bills and individuals • liaising with society members, student union

officials as well as outside organisations such as banks

• negotiating costs with suppliers• stock control in a bar and control of assets such

as vehicles and equipment.

Larger societies may want to have a set of general rules to promote good practice – such as not allowing any committee members to borrow society funds.

3. Income generation

The responsibility of applying for grants, organising fundraising events and generating income is often divided between members. You can form a fundraising team to report directly to the treasurer or chairperson to ensure good communication and a speedy response to financial opportunities.

4. Handling cash and cheques

Special attention needs to be paid to the handling of subscriptions, takings and payments. All transactions must be carefully recorded and monitored. Money and receipts need to be passed to the treasurer to bank and file as soon as possible. You may also set a cash limit for current accounts and move any extra money to a savings account with a higher rate of interest. It’s also good practice to require two signatures on cheques, petty cash slips and expense claims. 1

INSPIRING ENTERPRISEPAGE NINE | TEN

There’s a little genius in all of us...

Top tip It’s all too easy to lose

track of what your society’s spending. Good record

keeping is essential, it’s one of the keys to

accurate financial management.

... do you have an inspired idea for a new enterprise that could be the next BIG thing? Need help to tap in to your inner genius to help make your dream a reality?

5. Setting budgets

Budgets are worked out by the society’s committee and comprise the expected income and costs for the financial year. Budgets should be reviewed regularly to ensure they are on track and to work out ways of stemming shortfall if they’re not. the treasurer needs to keep other members informed of the society’s financial position on a regular basis.

6. Planning your budget

Whether your student society is large or small, starting out or long-established, you need to have a budget in place. This budget should factor in current aims, surprise expenses and long-term goals. think of your budget as part of a business plan. Review it regularly and adapt to meet changing circumstances. Long-term budget planning should tie in with the society’s ultimate goal or ambitions.

7. Funding

write down every source of income for your society and forecast how much money you will generate this year. Membership subscription, grants, sponsorship, fundraising and social activities (events, balls etc) can all contribute to the pot.

8. Costs

add up your projected costs. Some of these will be fixed, others may vary month-on-month. Accurately predicting your expenses will help you manage them more easily. Look at past costs and try to work out if you expect these to be more, less or the same. Work out which are your greatest costs. Do you have accurate quotes or good estimates for all of these?

9. Budget reviews

the treasurer should review the budget before each society meeting to provide a clear view of the society’s finances. This is usually done on a monthly basis. If it appears income will not cover outgoings, prompt action must be taken – by either revising the budget or increasing fundraising and other income-generating activity.

10. Emergency/Contingency fund

if possible, your society should have a sink fund or reserve. This is money regularly put aside to cover one-off expenses, high capital costs or emergencies. Ideally (although it may not always be possible), your society should have a year’s worth of expenditure put aside in a sink fund, although you will not want to restrict money unnecessarily.

11. Marketing

effective marketing will help you attract members, sponsors and donors, who will in turn bring money to help you run your society – whether that’s to meet everyday costs or to purchase new equipment. Try to minimise the costs of your marketing by using volunteers and asking (politely) for favours from local businesses – possibly in return for favourable publicity. Any costs you incur should come from existing funds – not from loans or overdrafts. Lastly, make sure your marketing messages are honest and truthful – be sure your society can deliver on its promises!

12. Kit You Will Need

Online banking lets you manage and track your society’s money easily 24/7. You can also make and receive electronic payments.

Petty cash box for collecting fees and receipts, and making small cash payments.

Cash book for recording income and payments.

Receipt book to issue receipts for money received.

Filing system to store financial information, including previous years’ records.

INSPIRING ENTERPRISEPAGE ELEVEN | TWELVE

rbs inspiring enterprise rbs.com/inspiringenterprise

The RBS Royal Bank of Scotland Group supports businesses of all shapes and sizes in every sector of the economy. RBS Inspiring Enterprise is our way of helping more people in more communities to explore enterprise, build their skills and start up in business.

rbs essa rbsessa.com

The RBS Enterprising Student Society Accreditation (ESSA), sponsored by the Royal Bank of Scotland, is a national scheme which rewards and recognises student societies and the teams behind them. The RBS ESSA certification is the official stamp of achievement and recognised by employers.

rbs enterprisingu rbsenterprisingu.com

If you have a business idea, this competition could make it happen. Using the FIG process, you will be introduced to a wealth of tools and resources specifically designed to help your business grow.

telegraph - inspiring Youth enterprisetelegraph.co.uk/youthenterprise

National media partner for the RSB ESSA and RBS EnterprisingU. An online resource of case studies, articles and interviews to inspire and support young people interested in developing enterprise skills and setting up in business. It will also showcase the best competition entries and videos to the RBS ESSA.

natwest small business advice: startup.natwest.com

Help and guidance on choosing your business sector as well as set-up admin, red tape and finances. Also includes information and ideas to help you expand.

natwest business school: natwest.com/business/business-school.ashx

Includes free guides from NatWest, including a free business plan template and webinars on the topics of the moment.

FIND OUT MORE There’s a wealth of information and guidance available online – also check out the following links

Salsa for all tastes...

Salsa4Water

Since launching two years ago, it has raised more than £27,000 and sister societies have been established in Edinburgh and Stockholm with plans to raise over £100,000 during the next five years by exporting the concept around the UK and world. The £7,000 prize money is being used to set up a new website providing advice and support to individual Salsa4Water groups all around the world.

INSPIRING ENTERPRISE

University of Glasgow’s Salsa4Water Winner of Most Innovative Fundraising Activity Award 2012 - £7,000

The concept behind Salsa4Water is pretty simple: the society runs three salsa classes a week attended by up to 150 dancers and donates the money (£3 per person per class) to Water Aid, a charity trying to ensure the poorest people in the world have access to safe, clean water.

PAGE THIRTEEN | FOURTEEN

A taste for success