Many budding entrepreneurs approach The Hive with just the beginnings of a business idea. They are then supported right through the process; from creating a business plan, to tackling the commercial realities of their business and, if feasible, taking it to market.
Although Hive entrepreneurs receive valuable support and are encouraged to focus on the right areas, they make their own decisions and learn as the business develops.
The Hive also supports academic staff at Nottingham Trent University by advising them on how to introduce enterprise into the curriculum. This enhances the students’ academic education and encourages them to think about the benefits of using their entrepreneurial skills in conjunction with their studies.
The team at The Hive all have business backgrounds, allowing further real world activity, advice, knowledge and know how to be brought into the university.
Hive student liaison enterprise officer, Phil Clarke, holds sessions across the university to talk to students and staff about what The Hive can offer them. He said: “I try to reach students early in their academic life so they are aware of the opportunities available to them throughout their time at the university. We also run several events each year under the brand of “Thirsty Thursday”. These take place on Thursday evenings in Nottingham and we invite successful entrepreneurs - preferably Nottingham Trent University alumni! - to talk about how they achieved their success and any difficulties they faced. We run these events jointly with Nottingham University, so we attract students from both universities.”
As part of its contribution to Global Entrepreneurship Week, The Hive held an “Enterprise Extravaganza” which aimed to inspire ideas and creativity at the university and to excite students and staff about the prospect of running their own business. The event demonstrated what The Hive can do for them and the wide range of enterprise activity at Nottingham Trent University. Phil added: “With over 25,000 students at the university, it’s hard to reach them all. We needed a big event to spread the word, to tell everyone that we’re here and show how enterprise is a big part of life at the university. Enterprise Extravaganza really ticked all the right boxes, it was terrific.”
Who can get the support from The Hive
• Nottingham Trent University students
• Nottingham Trent University graduates
• People who are not connected to the university but have a viable business idea that they wish to develop
Programmes offered by The Hive:
• HeadStart is an intensive 13 week programme, which consists of weekly workshops on the various elements of the business plan and regular reviews from an external panel whose members listen objectively to the business idea and give advice.
• SmartTrack is a three year extension to HeadStart. Having developed their business plan, The Hive will continue to support the entrepreneur for next three years through mentoring, the use of The Hive’s facilities, interaction with other Hive businesses and access to events.
• HiveStart to… is a six month programme with monthly workshops designed to develop personal aspirations for self employment and running a business. It looks at how running a business is perceived compared to the actual mechanics and commercial realities. This programme culminates in a summer school each year which expands on the various elements of the business plan.
• Enterprise Inc is a regional programme developed after the success of Students Placements for Entrepreneurs in Education (SPEED); a national scheme which allowed undergraduates to develop their own business idea during a placement year, rather than taking up a placement within industry. An example of a Hive SPEED success story is Kawsar Miah, whose business, Digicom Solutions, turned over just under £1million during its first year and led to Kawsar being crowned Midlands Young Entrepreneur of the Year in 2008.
The new Enterprise Inc programme now supports 30 undergraduates per year to work on their own business at The Hive. The programme is into its second year and will run for at least a third.
Phil Clarke’s vision:
“I think this is what promoting enterprise and entrepreneurship should be about. Many people have wonderfully creative ideas and there has to be way of encouraging them to develop those ideas. For students we start this process early, before the pressures of having to pay rent, mortgage, family costs, student loans etc become their priority. While they are still at university they have the time and energy to be creative and to develop their ideas. Here at The Hive we have built a supportive environment where they can do that.
“Of course we must never forget that not everybody is going to be an entrepreneur but knowing how to be entrepreneurial and enterprising is very important. Graduates become eminently more employable if they have enterprise skills and I tell students here that they can make themselves stand out in the job market by showing that they are capable of being enterprising.
Phil Clarke’s advice for young people who are starting their own business or enterprise:
“If they have an idea, the first thing I would tell them is to do the market research. There is no point wasting time, effort, energy and money if there is no demand for the business that they are trying to create. Market research will help validate the future viability of that business. The other thing is to never lose your creativity and innovation, situations change constantly and you will need to be able to adapt your business idea to accommodate. I think the third thing I would say to them is to remember work is 50 % of everyday of your life - make it fun and enjoyable. Don’t come to do something what you hate doing. If you have no passion and enjoyment for it, then don’t do it.”