sife swansea - annual report

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


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


SIFE Members 5

SIFE Hours 54


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


SIFE Members 1

SIFE Hours 50

Josh, Virginia Laptop Repairs


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


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

sife swansea - annual report

Documents