TYCOON Coronavirus (COVID-19) Update

TYCOON Coronavirus (COVID-19) Update

Please find below our latest update on Coronavirus and the Peter Jones Foundation’s response to the issue, particulary in regard to the Spring Window of the Tycoon Enterprise Competition.


Key Points

In summary, our latest information for schools and colleges taking part in the Tycoon Autumn & Spring Window or Tycoon Spring Window is as follows:

  • Whilst the Government has announced that school closures and the cancellation of large events, will not yet be introduced, and that most people can continue to go to work, school and visit public places, we understand that concerns around COVID-19 may have prevented Tycoon Teams from trading and impacted the schools ability to meet the evaluation deadline.
  • Individual Schools are obviously free to make their own decisions as to whether they wish to complete the Spring Window of Tycoon as usual, trading up until Friday 27th March and submitting evaluations on Friday 3rd April, but we will have put in place an optional trading extension to offer greater flexibility to Schools facing disruption as a result of COVID-19.
  • The Tycoon Trading extension would allow Schools to trade until Thursday 7th May, with the week following being allocated for the completion of the business evaluation due on Friday 15th May.
  • In line with this approach and the uncertainty we have therefore taken a decision to delay the Tycoon Final until early September 2020. Whilst we appreciate that this may be a disappointment, we want to put in place all necessary measures to protect the public and maximise safety. More information and the date will be confirmed within the coming weeks.


What’s Next

Continue with standard timeline

  • If you would like to continue with the normal tycoon timeline please email your evaluation form to tycoon@pjfoundation.org by Friday 3rd April (5pm). Please find the Evaluation Folder here or via the PJF learning resources online. You won’t be able to complete or submit online as this won’t be open until Thursday 7th May to the extension.

Trading with School Closures

If your school closes you can potentially look to trade online and externally (depending on the government advice).

  • Online: A good way for students to be able to access large consumer audiences in a short period of time is to sell online. Creating their own website can be helpful for promotional purposes, as well as developing useful skills. An easier way to reach a broader customer base is to make use of selling platforms like eBay. This normally requires a PayPal account to be set up to handle the transactions, and so getting this set up in advance is advisable.
  • External: Getting the students to try to sell their products/services outside of school can be a really exciting opportunity and can give students a more genuine sense of the business world. Enabling this to happen in a safe environment can seem like a challenge, but your local council may be able to offer a suggestion regarding a potential space.


For More Information

The most reliable and up-to-date information can be found here https://www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public

If you have any questions on the above information please email tycoon@pjfoundation.org or call 07467825311 or 0207 471 0520