2nd June 2010 - X Factor Joe Backs Newcastle College As It Unwraps Prize

Students from Newcastle College who took part in Enterprise UK’s Make your Mark with a Tenner competition unwrapped their ‘human’ prize for being shortlisted and raising the most amount of money in the North East.

Out of the 38 schools and colleges that took part in the competition in the North East, Newcastle College students managed to be shortlisted and made the most profit from their ten-pound note stakes at £18.50 each. The students also received a special message from former Newcastle student and X Factor winner Joe McElderry who said: “I am very proud of what Newcastle College has achieved with this competition.”

The competition, run by Enterprise UK, loaned participants £10 and one month to turn their creative and enterprising ideas into businesses that both make money and make a difference.

The ten students from Newcastle College raised the most cash with their business ‘Music Madness’ which collected profits of £185 by hosting a music gig in the college’s Space Bar that saw five student bands performing on the night to a crowd of 400.

The students used their entrepreneurial skills to promote the event via Facebook and used their £10 notes to pay for the print of advertising posters and tickets, which they sold at £5 each. The students have agreed to re-invest the profits into holding another music gig later in the summer.

Leading inspirational marketing speaker Geoff Ramm from West Boldon was awarded to the students for the day as a human prize. Geoff spent the day with the students delivering an interactive workshop full of techniques and real life observational stories to help develop and grow the students’ business and as well as giving them practical hints, tips and ideas.

Enterprise UK head of North East region Nynzi Maung said: “The students from Newcastle College have shown that they have the skills and talents needed to make money and enhance the lives of others. All they needed was someone to believe in them and a ten-pound note. This spirit of doing ‘good business’ bodes well for the UK’s economy in the future”

Geoff Ramm, who is the North East President of the Professional Speakers Association and whose clients include Barclays, Chambers of Commerce and Enterprise Agencies said: “To start off a new business with just £10 in your pocket is a huge challenge, some may say impossible, however, it is when we have little or no budgets that we really become creative. I was delighted to hear that the students had made such a profit and that they are already looking into re-investing in a future event, which shows real entrepreneurial spirit.”

This year funding from the Big Lottery Fund enabled thousands more students to get involved, with around 28,000 students taking part.

Winners were selected nationally from three categories: under 11s, 11-14 year olds and 14-19 year olds – with winners selected for the best business idea, the most profit generated, the best social impact, and a number of special judge’s awards. The top profit made from £10 was an impressive £920, by two students who recycled old and unwanted mobile phones online.