School kids name the top ways to run a business - from equal wage to being kind

17 May 2023 , 07:58

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Paying everyone an equal wage, being a kind boss, and using sustainable practices, such as recycling, are among the top ways to run a business – according to a group of schoolchildren.

The youngsters shared their thoughts on how small businesses should be run in the future – as well as proposing their own business models, including pet-sitting, and opening their own restaurant.

The adorable footage, featuring what could be the next generation of big entrepreneurs, shows that the future really is green – as they suggested using eco-friendly packaging, less plastic, and solar panels on the roof of all business premises.

Amusingly, they almost unanimously agreed that they would hire Gordon Ramsay in their future businesses – with eight-year-old Oliver explaining: “Because he knows how to cook.”

However, equal pay is also important to the younger generation, regardless of age or gender – with nine-year-old Lydia saying: “I wouldn’t employ a celebrity because they expect to be a bit more appreciated and get more salary – they would probably expect that because they’re famous or whatever.”

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And Henry, also nine, said: “What makes a boss good is friendship, kindness and helping each other.”

Nine-year-old Reya said that as a business owner, she would 'tell people what to do' (SWNS)

The footage ends with the children echoing the sentiments of “Be kind to the planet”, and “Be more sustainable”.

However, small businesses today still have a way to go to meet these goals – as almost two-thirds (62%) admit their sustainability goals have taken a back seat during the cost-of-living crisis.

A poll of 500 SME owners found that, on average, they will take another 14 months to reach their green targets.

In fact, bringing in more money is currently top of their priorities list for the next year – with maximising their eco-friendliness slipping to fourth place.

Their second-highest priority was investing to grow the business, and the third most-common goal was to reach new customer bases.

Alexander Allen, UK managing director for Funding Circle, which commissioned the research, said: “Getting greener is vital for everyone, from huge corporations to smaller businesses.

“And of course, as individuals we all have a part to play as well, in ensuring there is a future for younger generations to enjoy.

“However, with a cost-of-living crisis to contend , it can be easy to let standards slip in the name of cutting costs.”

Despite cutting back on green measures, 77% of respondents agree that having a business that is seen as being environmentally friendly is now crucial in attracting quality employees.

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But one in ten admit they are not entirely sure about the most efficient ways to cut energy costs in their business.

'Be kind to the planet' was a common theme among the youngsters (SWNS)

Nearly four in ten (39%) said the cost-of-living increases will be the single biggest challenge in their business over the next year.

Another 30% will struggle to maintain a steady cash flow, while 20% will have trouble paying for raw materials.

A further one in five admit prioritising environmentally friendly practices will be a big challenge.

But despite the difficulties faced, 39% have reduced their energy use in general, and 33% have started recycling more paper products.

Another 31% make sure to turn off electricity and heating systems every evening, according to the OnePoll.com figures.

Alexander Allen, at Funding Circle, added: “Making small incremental changes to go slightly greener doesn’t have to cost a lot, or take a huge amount of effort.

“Things like only heating spaces that get used, during times they’re occupied, is a pretty easy fix that needs to become second nature.

“This could be a great place to start and could build the foundations in your company, so bigger initiatives can be explored as time and cost allows.”

UK SMALL BUSINESSES’ TOP PRIORITIES OVER THE NEXT 12 MONTHS: