Thirty students took on the role of business consultants in the University College Isle of Man [UCM] Business Challenge, to advise island company, Manx Mohair, on how to grow their business.

UCM Business Challenge, which is now in its second year, is an undergraduate competition designed to develop students’ employability and enterprise skills.

Groups made up of first, second and third-year degree students from business management, accounting and finance, and event management and marketing programmes, were given a week to research and develop a proposal for a business.

This year, students were given the challenge to develop a proposal to suggest options for growth for Manx Mohair, an island goat farm, whose products and services include goat meat, luxury yarn, goat yoga and short-term holiday lets.

In its sixth year of business, owners Clare Lewis and Mike Walker, are ready to take on the next step to further expand their business.

The business is based at Ballanorman Farm, Ballacrye Road, Ballaugh.

Pippa Edmonds, head of the business management programme, said: ’This challenge is a fantastic way for our students to apply their theoretical knowledge of business into practise, in a real-world setting.

’In addition to that, we hope working together in teams in a competitive environment, will help them develop skills that employers really value such as leadership, teamwork, critical thinking, initiative and enterprise.’

After a week of research, students were required to develop a proposal, which summarises their key recommendations, and present their ideas to a panel of judges, comprising Clare Lewis and Mike Walker, Manx Mohair; Ray Harmer MHK; Katie Nicholson, Bridge Angel Network and PJ Vermeulen, International Centre of Technology, Isle of Man.

Pippa added: ’We are very grateful to Clare and Mike at Manx Mohair for agreeing to take part in the challenge, and opening up their business for scrutiny.

’We would also like to thank the panel of judges, as this year’s business challenge could not have been successful without any of their support.’

build the business

Clare is keen to build the business and said she was excited about the business challenge and enjoyed hearing the students’ proposals.

She said: ’Farming has been around for thousands of years, but like many other industries it has had to evolve to keep up with changes.

’I believe that our business made an interesting case study for students to really appreciate how businesses work and the myriad of issues and pressures that we face on a daily basis, as well as the importance of making those key business decisions that at the same time are in line with our own personal values.’

Five prizes were awarded to the following winning teams:

lTeam Billy Gruff: Callum Collister, Heather Black, Georgia Nicholls, Katherene Venancio, Elise Grobelaar.

This was the team that, overall, provided the most appropriate and practical solution, and the team with the most strategic idea.

lTeam Rocket: Fynn Hill-Heaton, Charlie May, Liam Arrowsmith, Daniel Scarffe, Naomi Griffiths, Ben Peach.

This was the team with the most innovative idea.

lTeam Goat to be Kidding: Aaron Riding, Alex Buchan, Liam Irving, Haydn Bateson-Lewis, John Eduardo.

This was the team with the most ethical idea, and the team that demonstrated effective teamwork on the day.