Welcome

Congratulations on signing up for the Junior Achievement Company Programme, the world’s
top entrepreneurial programme for young people in education.
Junior Achievement Cyprus is a non-profit organization dedicated to helping young people
develop skills for the workplace and aims to build awareness of entrepreneurship education
and foster Entrepreneurship, Work Readiness, and Financial Literacy skills among the
Cypriot youth. The general goal is to inspire the youth of today to create a world full of
possibilities enhancing their employability at the same time.

You will now have the opportunity to find out what it’s really like to set up and run a business
and to make all the decisions about your company. This will include deciding on a company
name, developing a product or service, creating a business plan, managing the company
finances, selling to the public and ultimately winding up the company. All this takes place
with the support of a teacher within your school, a volunteer business adviser, and the Junior
Achievement team.
This booklet notifies you about the rules and regulations of participating in the JA Cyprus
Company Programme and provides you with some information that you will need to get your
business started.

More analytical information is available to you through the Company Programme platform
HERE. To login please use the login details of the student responsible for your team. We
will send you more information on this very soon.

Contact and sources of information

97715909 info@jacyprus.org www.jacyprus.org

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Contents
Top tips from past winners of the Company Programme 4

Getting started

Time commitment 8

Choosing team members 8

Choosing a name for your business 8

Student behaviour

Code of conduct for students 9

Absence from meetings and under-performance 9

The legal bits

Product insurance 10

Communicating outside of your business 10

Handling money 10

Fundraising to start your business

Selling shares 11

Fundraising events 11

Sponsorships 11

Making money and charitable giving 11

Managing your weekly meetings 12

General Regulations 13

Appendix I 15

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 Top Tips for running your
business from past winners
NUTRICA+ - Winning Team | 2021 – 2022
Our participation in the program “Company of
the year” of JA Cyprus has influence deeply our
perspective of life, the way we communicate and
interact with people. We can’t omit the fact that
the development and establishment of a
sustainable company was not an easy task.
Trying to combine the student life with all our
studies and at the same time executing this idea
is not easy. The secret to success is commitment and dedication to your target, avoiding
any deviations from you target. Another key thing is the team spirit. The teamwork plays
an important work. Each team member has to respect, listen, and support his/her fellow
team members. You will face difficulties you will listen to different opinions and ideas,
but you will need to filter all ideas in terms of pros and cons in order to reach and isolate
the best one.
You will need to perform your own research to gather information and data, which will
help you to conclude whether your idea can be fruitful. So bear in mind the following
questions:
Will it eliminate/alleviate a problem?
Is it innovative?
Is there a similar idea in our country or in others? If yes, how does it differentiate from
the others?
You may face situations that you may get disappointed and thinking of giving up and on
the other hand you may face situations of positive results and be encouraged to continue
to keep going! For all the great experiences and all this unforgettable and valuable
memories it is worth it!

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 CIPEN - Winning Team | 2020 – 2021
Deciding on an idea, building your company brick by brick
and turning it into reality by selling your product/service is
challenging but at the same time so exciting and creative
and needs most importantly cooperation and
organization. Discussions and meetings with your
teammates are the key and will help you be up to date with
all those deadlines and tasks. This journey will unwind your
creativity and so never be scared to suggest even the craziest idea. Most importantly, enjoy
every second of the experience! You will face difficulties, but you will learn to overcome
them. You will get a taste of the business world and meet people of the field. Our advice to
you is to keep every advice, every comment, good or bad and never lose your team spirit as
this will be your force to continue this great experience. Success is not always wining. You will
be successful in this competition if at the end of it you are a better version of yourself. You
will learn so much that all those skills will be so helpful for the future in any field of study you
choose. And who knows? Maybe your mini start-up becomes a big business one day!

Anthia Theocharides – CEO | Coalfee 2019 – 2020

It would be a mistake to claim that by entering this
competition you do not win anything. It is just the
opposite. Regardless of any outcome, you will have
gained a life experience that you do not realize now. An
experience that is not being taught in any book, school or
university. Starting as six strangers, we managed to join
forces, transforming an idea into a product but not as a
student company but as a real business company. Through collaboration, respect, discipline,
and division of labor we have been able to see the world of entrepreneurship with a different
eye. And what about problems? The best view comes after the hardest climb. Do not be
afraid to take risks and do the difference. Do not hesitate to ask for help from your teachers
and mentors. And above all, do not dare to give up. Because the purpose of this competition
is not to win, but to grow!

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 Ioanna Chrysovitsioti – CMO | Ballywool 2018 – 2019
“First of all, be organized! Plan your work, create a
schedule, and stick to it! Managing our time and school
duties were big challenges for us at the beginning, but
once we achieved it, we knew that we could reach for
the stars! Also, listen to your teacher and mentor, as
they know how to make your company successful but
don’t lose your identity trying to follow other people’s
ideas. It’s an innovation competition after all! If you
strongly disagree with something and there is a
reasonable reason for it, don’t do it! It’s your company
thus your responsibility! Moreover, don’t be afraid of
change and be flexible. During your journey on Junior
Achievement, many obstacles that you never thought of,
will come on your way. Don’t hesitate to take a step
back, see what you have to change and do it!”

FIJI FERTILISER – Winning Team | 2017-2018

Running a business and trying to expand it within a few months
while simultaneously having schoolwork is not easy... But it is
possible, and rewarding. It takes time and effort to achieve your
goals and they can only be achieved with hard work and passion as
fuel! As past Company Programme participants and winners we
took some time to create a small list with some tips to help you get
on the right track:
• Manage your time: Balancing school work, personal life and JA is no easy task, but with the proper
motivation you will be able to create a schedule that suits your needs.
• Teamwork: Make sure everyone is motivated! You are a team and the actions of each member affect
everyone. With proper coordination, you will become a family, and help each other throughout your
journey. There will be disagreements so, make sure that they are resolved in the right way. Take
everyone’s opinion into account and whatever mistakes are made, use them as guidance for the future.
• Communication: Ensure clarity! Everyone should know what each team member is working on. This will
make every team member feel that they are part of a team and that they are all one unit with the same
goal.
• Research: Make sure you have a bulletproof business plan and research for different marketing strategies.
Don't forget your market research!!!!
• Never stop, no matter what: Every company will face difficulties. DO NOT give up. A good team will show
its power and passion not only at the good times but also in the bad ones. We have experienced so many
"failure" stories in our JA experience that ended up being a success after some time.
• Purpose: whatever you do, should link back to your original aim as a company. “The more the better”
should not be your motto. Seek for well-targeted and innovative ideas that will have a much greater and
effective impact towards your purpose as a firm.
No matter what happens you will learn a lot throughout your JA experience. There are no books to learn from, you
create your own syllabus through research, experience and practical work. At the end of your experience, wherever
it ends, we can assure you that everything you have learned and experienced will be the biggest reward you could
have asked for.
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 Irene Andreou – CEO of GrowGreen (2016-2017)
“Participating in this programme is a wholesome fulfilling
experience for everyone. Whether you aspire of becoming a
scientist, doctor, lawyer, poet or whatever your heart desires,
participating in this program definitely has something to offer
to you! Once you become part of the JA Family, here are some
tips on how to make the most of it.

• Absorb everything! From teammates, experts, friends, family and yourself(!) be able to
absorb all constructive criticism and advice they have to offer and adopt your idea along
the way.
• Pitch your concept as many times as possible to everyone and anyone and read the
body language of your audience in order to know what works for them and what not.
• Focus your idea on what it solves. Keep in mind what your concept is acting as a solution
for and keep your motives clear and concise in order to appeal to your clientele.
• Keep a balance between passion and wisdom. Passion is an essential driving force that
will keep your business prospering and improving but keep it in check. Wisdom comes
from knowledge.
• Just like in science, keep questioning your decisions, conduct regular questionnaires
within your company and from your customers and this will bring your knowledge- and
knowledge will keep your driving force in the right direction.
Good luck and enjoy this incredible journey!!!”

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 Getting up and running
Time commitment
You will be expected to meet at least once with your volunteer business adviser (mentor),
that JA Cyprus will assign to you. Besides that, all future meetings with your mentor are up
to you and him/her to discuss and decide how your relationship will be. JA Cyprus is only
responsible to point out that meetings with your mentor are for your benefit. All company
members have to attend that meeting otherwise they cannot take part in the programme.

As a team, it is suggested that you meet once a week.

The teams that succeed in this programme are the teams that go the extra mile, above and
beyond their weekly meetings. The more you put into this programme, the more you will get
out of it.

Choosing the right

team
It’s great to be able to run a
business with friends but in
practice, it often doesn’t work.
People who are too alike tend to
argue and when you need to
make difficult decisions or
discipline a team member then it
is likely you will not want to ruin
that friendship. When forming a
company, pick the best people
for the job.
It is important that when you put
your company together you
check everyone can make the
designated weekly meeting.
Think about who would be suitable for each of the roles in your business. This is key to
making your company a success. If there are less than six students in your business, then
you can take on multiple jobs.
Think about where you are going to meet. Speak to your school to book a classroom for your
meetings and ensure this is organised with the school in advance. A teacher or mentor
should attend your weekly meetings and support your company. If for any reason you cannot
hold a meeting you should notify your teacher or mentor in advance. Do not leave it until the
day of the meeting.

Choosing a name for your business

The name of your business does not have to be the same as your product or idea. This way
if you change your idea or product, you do not have to change the name of your company.

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Remember that the business name must be professional and easy to remember. Your
business name will appear on all your communications such as letterheads and emails.

Student behaviour
The Company Programme is open to everyone regardless of race, culture, creed, gender,
or ability.
Students must be aged 15 to 19 years and each team is allowed to have only one member
who previously participated in the Company Programme.

Code of conduct for students

• Do not place yourself in a situation where you are alone with any adviser (teacher or
mentor). Try to make sure that there are several students and, where possible, another
adult at any meetings.
• Do not get in an adviser’s car by yourself or ask an adviser for a lift for yourself alone.
• Do make sure that any Junior Achievement activities where you will be acting outside
the normal activities of the school are agreed and approved by the responsible teacher
in advance. You may also need your parent’s or guardian’s consent for some activities.
• Always treat your adviser with the upmost respect. Remember that your adviser is a
volunteer and may have work or/and family commitments.

• If you need to change the date or time of meetings, make sure your adviser is informed.
• Please remember that your mentor may not be aware of school holidays so inform them
accordingly when arranging a meeting.
• If, at any time, you have any concerns about the behaviour of a Junior Achievement
mentor, talk to your responsible teacher about it. It may be a simple misunderstanding
that can quickly be sorted out before it becomes more serious.
• If you follow these simple guidelines, you and your advisers will work confidently together
in mutual respect.

Absence from meetings and under

performance
Staff are the life blood of any business. If a team
member is not attending your weekly meeting or is
not contributing as they should this can have an
impact on the rest of the team. It can lead to
resentment and ill feeling.
There could be a perfectly good explanation as to
why this is happening but if you are not satisfied
with the performance of a team member and you
decide as a team to make changes in the team’s
participants or roles, please inform Junior
Achievement Cyprus by email at
info@jacyprus.org. JA Cyprus holds records of
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 your participation and informs JA Europe accordingly, so any changes related to team
participant numbers, or change of the company name etc, should be reported to JA Cyprus
immediately.

The Legal Bits

To enable students to run a real-life business there are rules that you must follow.
For the year of trading, you will be a branch of the organization Junior Achievement Cyprus.
It is important that you follow these rules so that you do not break the law or tarnish the
reputation of Junior Achievement.

Any student company who breaks the rules risks being suspended from the programme.

Products
All products or services must follow Junior Achievement’s regulations set. There are certain
products that you cannot sell for health and safety reasons. Student companies must follow
the same rules as any other business.
Please refer to the prohibited items in Appendix I.

Communicating outside of your business

It is important if you are communicating with anyone regarding your business that you clearly
state that you are a branch of Junior Achievement Cyprus.
You must include your business name, business address and JA Cyprus name of all
communications including letters, orders, publications, emails, invoices, etc.
You must also include this information on all online publications i.e. website, Facebook,
Instagram etc.

If you are going to attend an event (TV show, Radio show, festival etc.), please inform us in
written at info@jacyprus.org.

Handling Money
If you are under the age of 18 you are not allowed to engage in any credit card transactions
or, when trading on the internet, accept payments for goods and services through electronic
payment providers.
In the past student companies have nominated a family member over the age of 18, or their
adviser (teacher or mentor) to accept and make payments on their behalf and reimburse
them with cash.
Your Finance Manager is required to keep an accurate record of all money you receive and
pay out. Please see example of a spreadsheet for this purpose on the programme digital
platform under the title Budgets and Bookkeeping.
This spreadsheet will be audited by Junior Achievement when submitting your Annual
Report. It is essential that you keep a folder with all the receipts for payments and purchases.

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Student companies are not allowed to enter into any transactions over the value of €100
without the approval of your adviser.

Fundraising to start your business

Selling Shares
The simplest way is to invest your own money into the business, which is known as selling
shares. You can also sell shares to friends and family.
Shareholders will need proof of their investment into the business. If you make a profit they
are entitled to receive a return on their investment plus any dividend agreed at the end of
the programme.

If you choose to sell shares, you must issue the shareholder with a certificate and keep an
accurate record of the shares sold. Samples of both forms can be found on the programme
digital platform as well.

The maximum price for

one share is €5. The
maximum amount of
shares you can sell to one
person is €50 and the total
amount of shares you can
sell is €1000.

Fundraising events

You may choose to raise capital by organising events in your school such as cake sale or
movie day. It is important to record how much money was spent and raised.

Sponsorship
The following points provide a guide to how financial support can or cannot be applied.
• Junior Achievement companies can enter into a commercial agreement with a company
(however, please have in mind the regulations regarding this on page 13 below)
• Straightforward sponsorship or donations are not allowed. Corporate supporters
may become a shareholder within the rules of JA shareholding.

Making Money and charitable giving

At the end of the programme you can split the profit between team members and your
shareholders. This profit must come from selling your product or service not from
fundraising.
Any money that you make from fundraising must be invested into your business.

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 Should you wish to donate money to another charity you can do so at the end of the
programme, but this must be from the sale of your product or service and not through
fundraising.

Managing your weekly meetings

This is the time when your company should focus on running your business and be free from
other distractions. Past students have told us that too often they discussed action points at
their meetings but did not follow through. This meant that as the programme went on, they
found themselves under pressure trying to balance the Company Programme with their
studies.

Weekly meetings
• The key to running a successful business, is to make sure that every team member is
contributing.
• Each week the Company Secretary should prepare an agenda of items to be discussed.
They should also make a record of action points and who is responsible for them.
• The Chief Executive Officer (CEO) should review these action points at each meeting to
ensure they have been completed. If they have not been completed, then they should
be carried forward to the next meeting.
• If a Managing Director or adviser feels that a team member is under-performing or not
contributing to the company, they have the right to initiate a disciplinary meeting and
make the appropriate changes to the team’s formation, and inform JA Cyprus
accordingly.

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General Regulations
1. All student companies must register by the 18th of November 2022 through the link
provided to your teachers. Please ask them to inform you accordingly.
2. All students participating in the Company Programme, must submit to JA Cyprus a
parental consent form, if under 18 years old, or a general consent form if they are
above 18 years old. The link with the consent forms to complete will be given to your
teachers so please ask them to inform you accordingly.
3. Each student company is allowed to be active by the end of August 2023 where the
academic year finishes. If a student company wishes to participate in an event after
the 31st of August 2023, then students must get the approval of JA Cyprus. In the
case a student company wishes to be generally active after the 31 st August 2023,
then they must register formally in the country’s registrar.
4. Copying and stealing ideas, designs etc. is not allowed and will cause your team of
being disqualified from the competition.
5. Publicity and Media
During the year, JA Cyprus organises a number of events, such as the Trade Fair
and Company of the Year Competition Finale & Awards Ceremony, where students
have the opportunity to showcase their work.
Publicity and media exposure can also be undertaken by the student companies
themselves and we strongly encourage that. In such cases, student teams should
mention that the Company Programme is implemented through Junior Achievement
Cyprus, under the auspices of the Ministry of Education, Sports, and Youth of Cyprus.
Please notify JA Cyprus via email (info@jacyprus.org) about scheduled TV, radio, or
printed/online press exposure. Student companies are encouraged to use their social
media pages to promote these exposures and to tag @JA_Cyprus when they do so.
If a student company is invited to participate in any other competition or event besides
the ones organized by JA Cyprus, they must ask for the written consent of JA Cyprus.
6. JA Cyprus is supported by the following sponsors:
PwC, ECOMMBX, University of Nicosia, MetLife. Advertising of any other company
through student companies is prohibited! If you collaborate with other companies
please inform them that their logo cannot be on any printed or other material present
at the Trade Fair, neither on the student company’s social media pages.
7. Student Company Status and Business Ethics
The student companies operate under the model of a real enterprise. Taking
calculated risks and accepting responsibility for your decisions and actions, form an
integral part of the programme. The student companies have no legal status and
therefore cannot enter into binding contracts with other persons unless they operate
within the rules and regulations of the educational programme. It is imperative that
the students’ business ideas are formed based on business ethics and healthy
entrepreneurship as well as the introduction of positive social changes.
8. Entrepreneurial Skills Pass (ESP)
An important part of your participation in the Company Programme is the
Entrepreneurial Skills Pass (ESP) Questionnaire. Each student participating in the
programme should complete 1 questionnaire at the end of the academic year. More
information on when and how to complete this will be sent to you later on.
Taking the questionnaire is an obligation for participating in the Company Programme
2022-2023.
ESP is an international qualification that certifies that students have had a real
entrepreneurship experience, and have gained the necessary knowledge, skills, and
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 competencies to start a business or to be successfully employed. Successful
participation in the ESP increases the chances of students being admitted into
universities of their choosing, as well as the achievement of their professional goals.
9. Student Company Logo and Promotional Video
Each student company must submit their company’s logo and video in February
2023. JA Cyprus suggests these be work of the team members and not bought online
or done by a professional. However, in the case that the team has the funds to buy
the above online or pay a professional to make those, receipts and relevant
documents must be included in the financial file of the company for the juries and JA
team to check those. The logos bought online cannot participate in the Logo Award
Competition.

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 Appendix I

Prohibited Items

Developing your Product or Service

This is a list of prohibited items

There are certain restrictions when choosing your product or service for example:
➢ Alcohol
➢ Animals and Wildlife Products
➢ Adult entertainment
➢ Drugs and Drug paraphernalia
➢ Weapons, Firearms and Ammunition
➢ Franking Machines
➢ Government IDs, Licences and Uniforms
➢ Lockpicking Devices
➢ Lottery Tickets
➢ Mailing Lists and Personal Information
➢ Offensive Material
➢ Satellite, Digital and Cable TV Decoders
➢ Shares and Securities
➢ Surveillance Equipment
➢ Tobacco and Tobacco Products
➢ Unlocking Software
➢ Used Cosmetics
➢ The repair and maintenance of mechanically propelled vehicles
➢ Acids, gases including helium balloons, explosives, fireworks and chemicals, drugs, and
pharmaceutical products

Please note that:

• Junior Achievement companies must not trade in alcohol or tobacco products or set up events
where alcohol or tobacco are being sold or served even if students are not directly involved in
serving these products.
• JA Companies must not act as Travel Agents, Tour Operators or Taxi Services.
• There is a lot of legislation around the manufacture and sale of children’s toys. We would
therefore recommend that if you are considering a toy/s as your product that you read the
relevant regulations.