There have been significant issues in registering for a Stripe account on Market Place. This is due to changes Stripe made mid November to their on-boarding process as a result of new FCA regulations in relation to 'Know Your Customer'.
Unfortunately,despite our best endeavors, we have been unable to find a legal way of working which fulfills their new compliance requirements, and as such have made the decision not to use Market Place, and to provide alternative options for the student companies to trade online.
What have YE UK done?
The knowledge and skills required to trade online are different and it is important that young people participating in Company Programme are able to develop these skills through experience. As such the following changes have been made:
Does this mean student companies can trade on online platforms (Etsy, Ebay etc)?
The changes in the Operating Framework do technically allow student companies to trade through alternative online trading platforms (such as Ebay and Etsy), but please note these sites (or the payment gateway provider they use) ALL have to conduct the same level of checks as Stripe, and will require an over 18 to open the account (or the payment gateway provider account).
As this is not accessible to all young people we will not be recommending this route, but if its opened legally it would be covered by the YE insurance. More information on this can be found int the Trading Online - Available Options document.
Company of the Year Competition 2020
We hope that your student company is progressing well. Now that student companies have put in the hard work to set themselves up and had some experience of trading then now have an opportunity to participate in competitions in your local area and at county and regional levels. This could even lead to competing for the overall national title of YE Company of the Year 2020.
All the information they need to take part can be found in the Competitions section of YE Online. We've updated the downloadable document, Student Guidance Company of the Year 2020 to provide some new information to give additional support so please do take a look. There is also a new Student Guide to 360 deg Feedback which can be downloaded in Preparing for the COTY section of Competitions.
These two documents set out the judging framework and top tips on how to impress the judges.
Our Vision is for Scotland to be a place where all young people are given the opportunity to have a rewarding future in work and life - no matter where they start
Our Mission is to inspire & equip all young people to learn, develop and reach their full potential through enterprise.
In everything that we do, we will work with the following values: Integrity, Enthusiasm, Creativity & Collaboration.
Young Enterprise Scotland
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