Released on: February 3, 2012, 9:54 am
Author:
ACF Car Finance
Industry: Automotive
Young business students at an Ellesmere Port college are to have their entrepreneurial skills tested in a business challenge thrown down by a Chester-based auto company.
As part of their course, the business diploma students at West Cheshire College are taking part in the "Outstanding Business Student Award" organised by ACF Car Finance Limited.
Now in its third year, the competition requires three teams of students, aged 16 to 18, to devise a workable plan for launching a new business in the Chester area.
This year, their challenge is to describe how they would research, set-up and profitably manage a car valeting firm based in the city.
Members of the team putting forward the best proposals will each be awarded a Kindle eReader, while others taking part will receive a £10.00 gift card to spend in a computer store.
As part of their research for the project, the 15-strong group of students recently spent a day being shown behind the scenes at the headquarters of ACF Car Finance on Chester Business Park.
The company operates a national network of used car dealerships, and the youngsters saw how the group's many different departments contribute to its business success.
They now have until early spring this year to explain how they would clean-up in a car valeting business intended to serve motorists and corporate customers in Chester.
Judging the students' efforts will be a course tutor from West Cheshire College, and David Challinor who is Managing Director of The Funding Corporation, parent company to ACF Car Finance:
"Our Outstanding Business Student Award scheme is always enjoyed immensely by the students, but it's much more challenging than what you see on TV's Young Apprentice," said David.
"Sir Alan Sugar's tasks are carried out on-the-hoof, but we require a lot of very detailed analysis and research to support the students' business proposals.
"As such, the challenge is a very valuable part of their business studies training as it confronts students with the present-day realities of launching a new enterprise from scratch.
"Just as daunting, but also realistic, is that the groups will have to stand up and present their ideas to the judges - so communication skills also play an important part in the competition.
"We've had some amazingly well thought-out proposals to business ideas put forward in previous years, and I'm hoping to be just as astounded this time round!" added David.
No stranger itself to business competitions, The Funding Corporation was last year named Britain's Most Responsible Lender in a major finance industry business award scheme.
-ENDS-
ACF Car Finance Limited (www.acfcarfinance.co.uk) is Britain’s leading supplier of high-quality used cars to people whose credit status might otherwise prevent them from obtaining vehicle finance. ACF Car Finance has earned a strong reputation within the finance and motor industry for its standards of customer care, and the quality of the friendly, professional advice provided by members of its fully-trained team.
ACF Car Finance Limited. Registered in England number 4757280. Registered office address: International House, Kingsfield Court, Chester Business Park, Chester CH4 9RF.
For more information on this release, contact:
Jane Whittle
Marketing Manager
The Funding Corporation
01244 625 683
jane.whittle@thefundingcorporation.com