Frequently Asked Questions

How to set up your own student entrepreneurship societies

An idea for creating a student entrepreneurship organisation is one thing, but how to get started and how to make it successful?

With a plethora of student entrepreneurship organisations around the country, this article aims to give you a solid overview of how to set one up and what to expect.

There are lots of student entrepreneurial organisations, but there are three main ones that I’d recommend you to check out: Student Success Entrepreneurship Society , Student Entrepreneurs Academy and Student Entrepreneur Academy. 

I’ll be giving an overview of all three here, but if you’d rather go straight to the source article, scroll down to the bottom of the article to find out what to do.

Let’s get startedFirst things first, you’ll need to know how to create an organisation. 

Students are the most likely to create their own organisations because they are often the most motivated to take on new projects. 

They’re also the most engaged in the process of making a change and want to share what they’ve learnt and make sure it is implemented.

“The more students we can engage with, the better the organisation will be.”

“Student entrepreneurs are the only students we have to learn about how to take action and get things done,” said Jessica Llewellyn, founder of Student Success Enterprise. 

“We’re the ones who are the ones making the organisation, so we need to make sure we have the right knowledge, resources and support to make this happen.” 

“The biggest thing students have to do is to get out there and get their ideas across and get people involved.” 

The first thing to understand is that creating an organisation is very different to a traditional business venture.

The term student entrepreneurship refers to the idea that the students in an organisation will take responsibility for the running of the business and create a profit.

Students will not be doing any of the work, but they will be involved in the decision-making process.

They will be able to make decisions on whether or not to invest in the business or whether to set-up their own business and how.

There are also certain criteria you need to meet before you can create an enterprise, such as the size of the enterprise, the size and type of students involved, the location and the type of product or service you want to sell.

All these factors will make an organisation very different from a traditional venture, but students have an important role to play in creating the business. 

There are some common mistakes students make with student entrepreneurship that you’ll want to avoid in your own business.

You need to have a good idea of what you want your organisation to be about before you begin, and you need a clear vision for how the business will operate. 

Here are some things to consider when planning your student entrepreneurship project.

The size of your enterprise will determine how big it is.

Establishing an enterprise will require a team of students.

They’ll need at least 10 people and preferably more depending on the size.

For example, if you want a business with a population of 10,000, you’d need at most 50 people. 

However, if your organisation is just starting out and needs to grow, you could have more than 30 people working on it. 

The size and scope of your organisation will determine whether you want students or staff. 

Student entrepreneurs will need to be involved from the very start.

A student is a student because they need to learn how to think like a business person.

They will be the first to make any decisions, and they need a solid understanding of how the company operates and what its strengths are.

Student entrepreneurs should also be motivated to make change in the organisation.

As you begin to create your student organisation, you can start to take steps towards setting up the structure.

What are the things you need? 

Student entrepreneurship can be an exciting and fun way to start a business, but you should also consider the following things before you start: Where do you need students?

The size, scope and budget of your student venture will determine the type and number of students who will be in your organisation.

This is especially important if you have students with limited financial means, or students who have limited knowledge of how business operations work.

How long will the student venture be? 

Your student enterprise will have to be run for at least six months before you’ll start making any decisions.

If you want more students involved at any stage of the process, consider adding more staff and possibly increasing the size or scope of the operation. 

How will you fund the organisation?

Your student organisation must be self-financing and not rely on outside funding.

This means that you will need your own money and have to make your own arrangements with your partners to ensure your business has a stable financial base. 

Do you have any specific rules about how the student entrepreneurs operate?