Budding entrepreneurs from Abbey College Manchester are being put to the test in a challenging business start-up competition, headed up by renowned businessman, Peter Jones.

The determined team from the leading independent college is competing in the national contest, ‘Tycoon in Schools’. To kick-start the challenge, competitors submitted their meticulous business plans to Peter Jones, gaining them access to a start-up loan of £1,000.

The intelligent students have now entered into the trading phase, with the team of business students importing and selling tea from China under the name ‘Royal Tea’. The Abbey College Manchester cohort will battle it out against over 350 teams from across the nation in the run up to Christmas.

Concluding the competition, the promising tycoons will prepare a business evaluation report that will be scrupulously examined. Successful finalists will then be announced and invited to attend the prestigious grand final. Previously held at Buckingham Palace, the winners will be presented at the concluding event with their prize of £1,000 to be invested in their business.

College Principal Liz Elam commented:

“It’s exciting to see our students involved in this nationwide competition. The entrepreneurial spirit and level of dedication is inspirational to see and they are making incredible progress.”

Abbey College is a leading independent college in the heart of Manchester, with a fast-growing and vibrant community.

There are around 210 students at the college, comprising a mix of students from the local area and other countries. The college offers A-Level, GCSE and International Foundation Programmes.

For more information on Abbey College visit www.abbeymanchester.co.uk, or call 0161 817 2700.