Enactus LSE Annual Report 2012-13

Information Technology

2

Grant, £5,400

Sponsors, £2,000

Self-generated,

£470

Awards, £100

Revenues (£7970)

A core strength of Enactus LSE, is its large and diverse business advisory board which consists of 15 members. A key reason behind the team’s success is due to the board’s continued support of the team. Below are a few board members:

Mamun Hassan Team Leader

Alec Morton University Advisor

Matt De Jesus LSE SU Representative

The new re-branding of SIFE to Enactus brought many changes to within our team. Whilst Enactus has different meanings to us all, there was a very common theme: the passion to make a change.

Our model for growth has been to focus our projects on the team’s key specialities: finance and digitalisation. We tackle needs such as teaching children how to better manage their pocket money or to helping charity owners adapt to the world of technology. In setting up new projects, such as an international sanitation project, we utilise our current core competencies whilst building up new capabilities.

As a final year student and hence the outgoing President of the society, I wish the team continued success for the future. It is a fantastic organisation which provides key qualitative skills that our education simply doesn’t provide. I can safely say that my Enactus journey has been the most rewarding experience throughout university. Mamun Hassan President 2012-2013


3

Grant, £5,400

Sponsors, £2,000

Self-generated,

£470

Awards, £100

Revenues (£7970)

Training Weekend,

£400

Projects, £385

Marketing, £140

Other, £80

Expenses (£1005)

We started the year with only £1,050 in our account. Through our significant revenues this year, our closing balance has now been expanded to £8,015.

A successful recruitment at the start of the year expanded our active members from 50 to over 80. This year we also held our first ever elections for the new committee, ensuring a smoother handover process. The creation of a commercial arm will set a strong precedent for the financial sustainability of Enactus LSE in the future.


4

Understanding the needs

Anya is a 16 year old who has just started finding her own way in the world of work. Unfortunately, Anya and many other young people don’t realise the difficulties in managing money on their own. Our needs assessment revealed that 50% of teenagers fall in to debt by the age of 17.

Understanding the causes

We identified the main causes impeding the teaching of financial literacy in classes. Over half of teachers didn’t feel confident to teach financial education and the majority felt there wasn’t enough curriculum time.

Creating an innovative solution

We developed a handbook that gives teachers both the confident and resources to conduct financial literacy lessons. Accreditation from ‘pfeg’ gave our work immense professional creditbility.

We supplemented the resources with a mentoring element. Mentors went to schools to work with pupils like Anya.

Finally, Trading Futures expanded to Malaysia where we forged connections with local organisations.

Results and impact

This year we have impacted 780 students from domestic and international aspects to our project.

Long term empowerment

We are confident that students like Anya are able to carry the financial lessons with them in the future and make more informed spending decisions. We are also working on an international expansion to India.


5

Understanding the needs

Charlie, a teenager, lives with his single mother in Islington. He has no work experience and doesn’t see himself doing anything after he finishes school.

Understanding the causes

We conducted an extensive needs assessment in to effects of the recent financial crisis. Over a third of 14-16 year olds just like Charlie don’t know about the options after leaving school.


We have partnered with a school in Islington to mentor students in 3 main areas:

Money management

Basic understanding of economics

Informing young people of the options available to them after school.

Now in our second successful year of the programme, we’ve incorporated feedback from teacher’s comments last year. We have included more interactive sessions and incorporated current affairs in to the programme.

Results and impact

This year we have directly impacted over 150 children with many having a changed view regarding their future prospects. 2/3 teachers said they’ve seen an increased participation in class following our programme.


A recently created blog allows student like Charlie to ask us questions. This will ensure that we continue interacting with the students in the long term.


6

LSE Support provides free consultancy services to charities in London. Last year we worked with YMCA and Homestart Hillingdon and successfully addressed several problems at these charities. Below are details of work with our new client this year: Green Room, an environmental charity book shop. Understanding the needs

Noel, owner of the Green Room, has experienced plummeting sales both in store and online, which has been made worse by Noel’s self-confessed phobia of technology.

Understanding the causes of things

Green Room is based in an awkward location with low pedestrian traffic. The online outlet hasn’t been updated for months and extremely difficult to find through web searches.


We came up with a 3-way approach:

We put Noel in contact with local cafes who agreed to display some of the charity’s books.

Noel was put in touch with new home-buyers who needed empty shelves filled with interesting books and collectable items.

We taught Noel how to create his own Facebook page and a website.

Results and impact

In-store customers more than doubles which led to a 130% increase in in-store sales whilst online sales also improved.


We created a guide for Noel to use which will allow him to maintain and build upon his online presence, even without our direct help.


7

SideWalk

London is quite literally a tale of 2 cities. Whilst we have a buzzing financial centre at the heart of the city, homelessness remains a big issue.

Enactus LSE has partnered with ‘The Passage,’ a large homeless centre in London. We have begun working with the clients at the shelter to provide a platform whereby the participants can reintegrate themselves within society.

The clients will be selling their own food at a local market stall. We are in the process of arranging the market stall with the council.

Refugee Tutoring

A global city such as London is bound to attract refugees from the world over.

The project aims to work with refugees to help them adapt more easily to London life whilst working with their children to tutor them in key educational subjects.

We have spoken to the Red Cross who have expressed a keen interest. We will look to build upon this partnership over the next year. Mission Inpotable

There is too large of a proportion in the world without any access to cheap and affordable clean water.

Our project aims to tackle this through a unique filtration system, which uses clay pots, to provide clean water.

We have formed a partnership with Pump Aid, an international water and sanitation charity. Over the next year, we plan to develop this relationship further.

Enactus LSE Annual Report 2012-13

Documents

Transcript of Enactus LSE Annual Report 2012-13