SIFE BCIT - ACE Western Regional Exposition - Financial Literacy Presentation

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SIFE BCIT\'s Financial Literacy Presentation for the ACE Western Regional Exposition. Our team came in third place.

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SIFE BCIT - ACE Western Regional Exposition - Financial Literacy Presentation

  1. 1. CHAMPIONED FREE ENTERPRISE
  2. 2. 70+ MEMBERS APPLY FINANCIAL LESSONS 25+PROJECTS EXPAND FINANCIAL UNDERSTANDING
  3. 3. DANIEL 1st YEAR MARKETING MANAGEMENT PROJECT MANAGER, STUDENT INITIATIVE SHOWDOWN CHIH
  4. 4. ICE PROMOTIONS THE FAMILY DOG STUDENT INITIATIVE SHOWDOWN
  5. 5. ICE PROMOTIONS Generate Revenue 1st SIFE of Government Assistance Operate Free INCORPORATED MICROBUSINESS IN CANADA Self-Sustaining
  6. 6. ICE PROMOTIONS ReceiveHands-On Experience Provides Budget for Financial Literacy Projects
  7. 7. ICE PROMOTIONS • Marketing products & services • Negotiating contracts • Event planning • Networking
  8. 8. PROMOTIONAL SERVICE CONTRACTS $6,600
  9. 9. MINGLERS •Develop budgeting & $3,400 to date negotiation skills • Keep costs at a minimum $1,500 by May
  10. 10. SPRING LIVING FAIR 2 Day Event Concert Fundraiser Over $5,000 in profits Eco-friendly products 2 Fashion Shows 50 entrepreneurs 1.5x last year $10,000 projected revenues
  11. 11. SPRING LIVING FAIR “Financial literacy and accountability is essential for the success of any business.” Benefits Entrepreneurial Community Toan Dang Director, ICE Promotions Develops Event Planning & Budgeting Skills $10,000in cash flows
  12. 12. SPRING LIVING FAIR •25% of concert profits donated • 2 local charities
  13. 13. ICE PROMOTIONS $8,700 last year $14,000 goal $4,600 to date $16,600 projected profits
  14. 14. ICE PROMOTIONS FINANCIAL SUSTAINABILITY 10% Re-invested Grow & Expand
  15. 15. ENTREPRENEURIAL OUTREACH DIVISION
  16. 16. THE FAMILY DOG Canine Instructional & Training Service • Family man Limited understanding of financial management • Expanding business offerings • Worked to develop: • Full-time career  Excel recordkeeping system  Balance sheets  Pro-forma income statements
  17. 17. THE FAMILY DOG 40 dogs for 4 hours weekly 52 weeks per year More sustainable model required Growth plans not feasible
  18. 18. THE FAMILY DOG FINANCIAL REALITY Revising business model Using new financial skills Avoided costly mistake
  19. 19. STUDENT INITIATIVE SHOWDOWN Business Competition • Create,in November& evaluate Began implement, 2008 own business • Presentation in April 2009 • SIFE BCIT mentors • Judged by industry professionals • Monthly workshops
  20. 20. Developed from career building workshops Need for more business education Opportunities for students
  21. 21. MARLON, JAMES NITESH & ROMNICK  Work on people skills  Understand ups and downs •Created a feasible business selling locker insurance $1,000 projected profit Worked with school administration •Calculated expected revenues based on:  Demand surveys & constable  Projected payouts
  22. 22. STUDENT INITIATIVE SHOWDOWN • 23 students • Tailored workshops • SIFE BCIT mentors • One-on-one tutoring • Feedback & questions via web
  23. 23. STUDENT INITIATIVE SHOWDOWN SOLID FOUNDATION $500 HSBC Financial Literacy Grant $2,500 scholarship
  24. 24. STUDENT INITIATIVE SHOWDOWN “We are proud to support SIS and are excited to see it grow in coming years and help to ensure its sustainability.” Robin Hemmingsen Dean, BCIT School of Business
  25. 25. Community Outreach Business Education Development of Economic Activity

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