Students studying Sports and Exercise Science at the University of Northampton have drafted in subs from the Accounting and Finance degree programme, to help them hone their business pitches.
As part of their studies, Sports and Exercise Science students are challenged to develop an entrepreneurial business idea, be that a personal training business, a sporting product or service, and develop a detailed business plan to pitch to a panel of experts.
To help the Sport students with their financial planning, they’ve teamed up with Accounting and Finance students, who have been acting as their financial advisors, coaching them to carefully consider their cash flow, margins and the best option for getting their start-up capital to launch their business idea.
Fatima Dameam, a second year Accounting and Finance student said: “I’ve enjoyed collaborating with the Sports students on their business plans. Revisiting topics, like cash flow and estimations, and having to explain the principles in an easy to understand way, and answering questions about how to apply this to the students’ business plan has been great practice for me. I’m sure that’s something I’ll have to do when I start working with clients in industry.”
For many of the Sports and Exercise Science students this business planning module couldn’t have come at a better time, Lewis Bosson, a second year Sports and Exercise Science student said: “Working with Fatima has been just the health check my business plan needed, she’s helped me to think about the pros’ and cons to the way I plan to structure my business. I’ve looked at start-up funding with Fatima, I’ve realised that I could start my Personal Training business now, and supplement my income while I study.”
Anna Poole, Lecturer in Financial Accounting at the University of Northampton said: “The collaboration across the two courses is a great experience for the students to use their academic and personal skills to work together on a contextualised project, akin to how they’ll operate, when they’re working in in industry. This project helps these students to think carefully about how they explain and advise business owners and decision makers, when it comes to the financial stability of a company.”
Brendon Skinner, Senior Lecturer in Sport Rehabilitation and Injury, said: “Working to develop a sports related business plan is excellent preparation for these students, many of them will start their own business, some before they’ve even graduated. This element of their studies has been aligned to the University’s Enterprise Boost programme, which support students to develop an entrepreneurial idea, and enables the students automatically gain an additional qualification.”
The students’ business idea, and a detailed business plan behind it, formed part of their assessment with an elevator-style pitch to a panel of academics and business advisors from the University.