Money management, starting a business, and social enterprise: the Economics Society has all the answers!

The Economics department is almost as busy as the London Stock Exchange, and the last few weeks have been no exception.  As Year 13 approach the end of their time at Emmanuel, they were treated to a lecture dedicated to issues related to finance.  Mr Karl Morgan (alumnus) is Structural Liquidity Manager at Virgin Money and explained a whole host of issues including savings, loans, credit cards, debt and budgeting.  Alongside numerous tips on money management, Karl spoke with wisdom and passion about the importance of character in the world of work.

On the same day, demand for early lunch passes exceeded supply in anticipation of Mr Mike Porritt’s address to the Economics Society.  Having been involved in more businesses than he cares to remember, Mike outlined the steps necessary to take a business idea to successful fruition.  As he talked, he moved seamlessly through discussion of exchange rates, venture capital, business plans, and more.  One lucky student even walked away with £20!  The takeaway point was clear: if you want to start a business, get up, look around, and do something about it.

After learning about making and managing their own money, the students rounded off their understanding of finances with a look at social enterprise.  We are very grateful for the visit of Mr Will Fatherley, CEO of Impeller, a values-led social enterprise working in partnership with the Tyne and Wear Fire Service.  Impeller harnesses resources in the public sector – in this instance, the fire service – and exploits these resources to generate profits which are directed back into the fire service.  It was fascinating to learn about, and it’s big business too, with social enterprises now contributing 5% of UK GDP.