IIUI Schools

Pakistan

ANNUAL REPORT

An update on our business this year

Written by

Moonis Saadet,Sahair Abdullah,Fatima Qareen,Fatima Mushtaq,Aqib Mushtaq,Abdul Basit

Rukh-e-Zahra

Created as part of the School Enterprise Challenge Awards Programme – Bronze Level

Section A: Executive Summary
Business Name / IIUI School Enterprise
Business Activity / Manufacturing of shopping bags
Main product / service / Recycled grocery bags
Our school business social media (Facebook page, blog, Twitter account etc.) / Blog
Number of students involved in business implementation activities (including writing this Annual Report) / 20 Boys / 10 Girls / Total =30
Number of students in whole school / 300Boys / 250 Girls / Total= 550
Number of parents involved in our school business
Financial Summary
Period of time covered in this report: _4_ months
Our local currency (___) / US Dollars $
Total Income (Actual) / 15220 / 145
Total Costs (Actual) / 4525 / 43
Profit (Actual) / 10695 / 102
Section B:Running Our Business
1.  Here is a summary of what we did to set up and run our business.
“If you cannot do great things, do small things in a great way”
So, our journey of thousand miles began with small steps and now great but Small Business Enterprise is established. The simple strategy , we have adopted was:
Section C: Use of Profits
2.  Here is an explanation of how we decided what we plan to spend our profits on:
While we were going for a market survey we saw a child who was sitting by the roadside he was begging and was distressed his age was less but he seems to be like a suffered part of society. We called him and inquired about his identity he told us that he is an orphan and he is deprived of all the facilities and ease of life. These words penetrated deeply in our souls that was the reason that made us to decide how and where to spend our earnings. That was planned there at that moment that we will be spending a part of our profit on noble cause for contributing towards making a little change in life of those who are Orphans so after getting profit we implemented this criteria by spending some part of profit on the poor souls of orphanage. We took warm clothes and foodstuff we just packed them and took with us to the orphanage where we spent some time and distributed that stuff it was an awesome experience as well as a source of contentment for us.
Section D: Our Achievements, Challenges and Solutions

3.  These were the 3 biggest challenges we faced when planning/setting up/running our business and the solutions we came up with to overcome them:

a.  Challenge #1: The first and foremost challenge, we faced was to take the initiative of a “What” venture should be fire up in the market.
Solution: To over come this, we gather together and started brainstorming. We conducted the market research and after that we decided to introduce an eco-friendly product that can bring change in society, beneficial for the environment and cost effective as well.
b.  Challenge #2: The next was, to motivate the students, to indulge them in the new business along with their studies so that they can learn about the new skills of the life and that can lead them into a new world.This project will edify them about practical and professional life.
Solutio
We managed this by arranging day to day seminars, lessons and by showing them the videos of little successful entrepreneurers.We encouraged and motivated them and their parents as well.We in a very short period of time, we got invincible outcomes.
c.  Challenge #3:
Solution: The other challenge was to decide the product quality with least price.For that purpose, we worked on the concept of reuse or recycle as this concept is economical and eco-friendly additionally.
3.  These are the 3 most important things we learned:
1.  Having no capital with minimal resources, we learned to start a venture.
2.  We learned about market techniques and learned that also how to compete in a highly competitive environment.
3.  The last but not least was to face the life with audacity and we learned to teach a man to fish rather than to give a fish.
Section E: Sustainability & Business Development
4.  Our business has a positive impact on the environment and our community because:
As we decided to be the change maker instead of just an ordinary entrepreneur. So we made a plan to discourage the usage of plastic bags. We all know and admit it also that plastic is the main cause of repercussion for ozone layer and the air pollution. Plastics never distort in any way, whether burned, dumped or drained, they never deform. The community hesitated at first to adopt the new idea and new product. But when we educated them, the response was fabulous. The people started to purchase our eco-friendly, inexpensive, reuse able and rewash able product. We hope our business will continue to blossom by our continuous endeavours.
5.  Our school business has the potential to carry on running sustainably next year and have a positive impact on the local environment and our community. This is our three point action plan of how we will keep it running:
1.  As we have created a unique position by our eco-friendly, reuse able product so we will create more and more customers as well
2.  After taking a significant place, as an entrepreneur in society we have decided to own our social responsibilities by hiring those who are underprivileged by destiny and educating the business skills for theirs’ betterment.
3.  We will try to be more self-sustain till next year, instead of depending on donations and taking help in any shape by burning the candle at both ends.
OR
Our school business does not have the potential to carry on running next year because we cannot make a profit and/or our business is not socially/environmentally sustainable. These are the three biggest lessons we have learned about why our business has not been as successful as we planned AND what we have learned we should do differently next time:
1. 
2. 
3. 

Appendix Section: Students in Action

Please find in this space some evidence that clearly shows our involvement as students in the setting up of our business. You will find 3-5 photos (or if that’s not possible, we will share quotes from participating students).
A photo of our launch event:

A photo of us running our business:

A photo of our financial record keeping:

FINANCIAL REPORTING

1. Income (actual)

NAME OF PRODUCT OR SERVICE / QUANTITY / SALES PRICE / SALES INCOME
(Quantity x Sales Price)
Grocery Bags / 560 / 120 / 6720
2.Lunchbox(Channa Chaat) / 50 / 60 / 2500
3.Bracelets / 60 / 100 / 6000
TOTAL SALES INCOME / 15220

2. Costs (actual)

NAME OF ITEM / QUANTITY / COST PER ITEM / TOTAL COSTS
(Quantity x Cost per Item)
Clothes / 300 m / Donated / Donated
Dying colors / 250 g / 30 / 750
Threads / 2 boxes / 100 / 200
Paint colors / 5 boxes / 70 / 350
Brushes / 15 / 15 / 225
Sewing Machines / 2 Machines(1 donated) / 3000 / 3000
Stove / 1 / Donated / ------
Big Pot (for dying) / 1 / Donated / ------
TOTAL COSTS / 4525

3. Profit (actual)

OurLocal Currency
TOTAL SALES INCOME / 15220
TOTAL COSTS / 4525
PROFIT
(Total Sales Income – Total Costs) / 10695

This is how we raised the money needed to start our business:

We raised our money by arranging different stalls of eatables like, channa chats, coffee. We didn’t require a huge capital as our concept was the making of durable product with recycling. Electricity, Sewing machines, workplace were provided by the school.

Our Local Currency used : / Rupees
Exchange rate to US Dollars: / 0.0095$

STUDENTS’ IMPROVEMENT ON SKILLS

It is important for you, your teacher and for us to reflect on how the Awards Programme has helped you develop your skills. Please ask your teacher to fill in the following sections. ONLY SCHOOLS THAT COMPLETE THIS SECTION WILL BE ELIGIBLE FOR AN AWARD.

1.  After going through the activities to implement your school business do you feel your students...?

Please choose ONE option (‘Improved’, ‘Stayed the same’ or ‘Did not improve’) for each row below…. / Did not improve / Stayed the same / Improved
a.  Are more confident speaking in front of other people (e.g. during market research) / ü 
b.  Work better with people with different opinions to theirs / ü 
c.  Have improved their team working ability, e.g. if other team members were struggling they offered support to them / ü 
d.  Are more confident analysing information / ü 
e.  Are more able to use their ideas to organise and plan work in order to reach their goals / ü 
f.  Are more able to look at different ways to solve a problem and are more confident in selecting a solution / ü 
g.  Do you feel your students have gained the skills and knowledge to start and run a successful business independently? / ü 
2.  Can you tell us the biggest impact the program has had on a specific student, their family or even yourself?
Entrepreneurship is a way for people for selecting that in what way they want to pursue their life. It’s either to start their own business or going for other ways of earning. While doing this project we have learnt the significance of entrepreneurial education. We learnt that it can play a major role in accelerating economic growth of our country. It has changed our perspective of earning. We learnt that we can earn without being a burden on anyone as well doing something for the society at the same time. We are more enthusiastic than ever before. J
3. Through the school business implementation process, which skills do you think students improved/gained the most (max 3):
ü  / Leadership / ü  / Communication / Aspiration
Confidence / ü  / Decision making / Other – Please specify:
Problem solving / ü  / Team work
4. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option.
No / Yes, in Science
Yes, in Maths / ü  / Yes, in Business Studies
ü  / Yes, in Writing & Reading / Yes, Other – Please specify:
5. Have the students used the skills learned through the school business implementation outside school?
ü  / Yes / If you answer ‘Yes’, please specify (if possible):
HOW – For example, Have they carried out any business activities?
With WHOM – For example, with their family, other students, etc.:
No

CONGRATULATIONS on writing your Annual Report! You have completed Step 3 and the School Enterprise Challenge programme! Submit NOW!

Remember to submit your Annual Report to the School Enterprise Challenge Awards Programme by logging in to your account at: www.schoolenterprisechallenge.org/login

in order to be eligible to receive your Bronze Award.

7

BRONZEAnnual Report Template 2017. ©Teach A Man To Fish