News-Inspiring County Durham's budding entrepreneurs

Future Business Magnates (FBM), which is organised by our business support service, Business Durham, will see students from 13 schools compete to create a winning business idea.

This year's theme is 'Reimagining the High Street' and tasks pupils with creating a business that will breathe new life into the high street and help transform their local community.

Each team of students is expected to research what their community wants, identify what is missing and design a business that brings people back to the high street and into the destination, whether that be for arts, food, entertainment or innovation.

'Helping to create brighter futures'

Cllr Elizabeth Scott, Cabinet member for economy and partnerships, said: "In the 20 years since this fantastic competition first launched, more than 2,000 students from almost every secondary school in County Durham have taken part.

"This is a fantastic achievement, but also reflects our commitment to encouraging enterprise in young people and raising aspirations among future generations. By providing a range of innovative opportunities and resources, we are helping to create brighter futures for students and future economic prosperity for the county."

One of its kind competition

The year-long competition, which will see students supported by a range of County Durham businesses, including Waterstons, Robertson Homes, Stiller and Co-op Distribution among others, is the only one of its kind in the region.

It also reflects our priorities in the County Durham Inclusive Economic Strategy which highlights the importance of raising aspirations in young people so they can excel in business and their careers.

Students will be able to celebrate their success at a ceremony held at the end of the academic year when the winners will also be crowned.