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Robin Walker gives advice to business students
9:07am Friday 14th March 2014 in News
A Worcester MP has listened to students' plans for a business start-up.
Robin Walker visited a group of Business BTEC Level 3 students at Worcester Sixth Form College as part of their assessed work for their BTEC course.
Sue Viner, teacher of business at the college, said: “Robin asked insightful and challenging questions of the students which required careful consideration and an immediate response.
"This was a valuable opportunity for the students to think on their feet, a skill that they will need to utilise in the business world.”
Mr Walker also offered the students advice which made them consider their pricing strategies and the potentially large expenditure that their new businesses would have.
Mr Walker said: “As a member of the business, innovation and skills select committee, I was delighted to visit one of the local FE colleges in my constituency to support the development of the entrepreneurs of the future.
"At the heart of any successful business is a coherent plan and pricing strategy, and I was glad to be able to support the development of the students with focused questions on the realities of their chosen products or services.
"I was very impressed with the enthusiasm of the students and their understanding of the need to manage cash flow as they sought to grow their businesses, as someone who started their own business, I know how vital this can be.”
Matthew Hawkins presented a business idea to create a piece of software that would allow a business to move its resources around more efficiently.
However, after finding it would not be practical to aim the product at larger manufacturers, he decided to target smaller developing businesses with the help of a partner to create the software.
Matthew said: “Overall, the experience of making my own product/service has been very enjoyable and has given me a useful insight into what it would be like to set up a business. It has also allowed me to develop my presenting skills which will be very valuable in the future.”
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