Harrow College student Alicja Palewska has won a challenge set by the college’s Enterprise Society and the Entrepreneurial Education Group to create a business idea from a £10 investment.
Palewska, who is studying towards her BTEC Business Studies Level 3, had the idea to sell homemade Halloween-themed cupcakes.
The aim of the £10 challenge is to explore the entrepreneurial mindset of students and encourage them to start and run a small business of their own.
Students are asked to submit a business proposal detailing their idea and how they plan to make the most of their £10 investment.
On successful completion of the project students pay back their initial £10 investment and a further 20% of the profits they make in order to fund future £10 projects. Students get to keep the remaining profit they make to reinvest in their business idea.
With her budget of £10, Palewska sold an incredible £56.84-worth of cakes. After taking into consideration the initial £10 investment and the 20% commission, Palewska took home a profit of £37.47.
Palewska said that she was overjoyed with winning the challenge.
“I’m really happy and proud of what I have achieved. I am looking forward to taking part in more competitions like this in the future.”
Kuukua Graham, business and professional studies lecturer at Harrow College added: “It is important for students to take part in an enterprise activity such as the £10 Challenge. It is a great way for students to exhibit their unique talents and abilities through the use of a limited amount of money in order to make profit”.