A SCHEME to introduce young people to the world of business in Oxfordshire has been praised as the best in Britain.

Oxfordshire Young Enterprise chairman Nigel Barfoot, of Unipart, said 700 students at schools and colleges were involved in this year's competition where they set up companies, made and sold products and produced a company report with the help of business people and teachers.

Speaking at the finals of the county competition, held at the United Kingdom Atomic Energy Authority at Culham, he said: "This is over 60 per cent of the schools and colleges in the county, much higher than the national average."

A team from Headington School fought off fierce competition from 35 other schools and colleges to win the county's top business prize for young entrepreneurs.

Between lessons, 15 girls in the upper sixth form at Headington School set up a company to make and sell stylish clocks mounted on CD discs - and made a massive 205 per cent return after trading for just seven months.

Their company, Paradox, won the Grant Thornton Shield for the best company and will represent Oxfordshire in the regional Young Enterprise finals in Bristol next month.

Paradox's 17-year-old managing director Carolynn Low and four of her company directors told how they raised £195 capital from parents and went into business by making CD clocks, which sold for £5.99 each at school and trade fairs.

The company really took off when it clinched a £2,342 bulk order from Unipart, who used the clocks as part of a promotion.

Paradox made a total trading profit of £1,220 and also won the WH Smith Cup for the best company report. Chairman of the judges, Barrie Giles, chief executive of the Heart of England TEC, the leading sponsor for Young Enterprise, told the 300-strong audience: "We at the TEC see this competition as one of the most valuable ways of employees of the future acquiring skills which you as employers are crying out for."

Five of the six finalists also winning awards were:

Greek Taverna Shield for best display stand - Burford School, whose company Mad Cow made and sold mugs

Lloyds Private Banking Shield for best presentation - St Helen and St Katharine School, Abingdon, whose company Surge sold mirrors and photo frames

UKAEA Cup for best financial report - St Helen and St Katharine School whose company Enigma sold glass painting and ring holders

AC Nielsen Challenge Cup for best use of marketing and market research - Oratory School whose company Blue Inc sold personalised stationery

The sixth finalist was Oxford High School for Girls, whose company Indigo sold ceramic clocks and T-shirts.

Other awards were:

Marsh International Shield for best Team Enterprise company - North Oxfordshire College, Banbury, whose company Handy Helpers re-shaped a car park

Institute of Management Award for manufacturing - Pink Grapefruit from Our Lady's Convent, Abingdon.

Heart of England TEC Information Technology Shield and £500 - Mass Clothing, a company run by students at Matthew Arnold School, Cumnor

Achiever of the Year - Richard Clements, of Cooper School, Bicester, who reads American books on business practice as a hobby. He was presented with £50 worth of Woolworths shopping vouchers

Oxfordshire Young Enterprise chairman Mr Barfoot was presented with the Young Enterprise Gold Award for outstanding work over the last three years.

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