The 2012/13 Future Business Magnates (FBM) competition is now well underway and our team of Year 8 young entrepreneurs, led by Mrs Mulryan, is sitting comfortably in second place with just a few points between them and the current leaders.

FBM was launched in 2005 by Sir Bobby Robson to promote enterprise in secondary schools, encourage entrepreneurial attainment and to promote social and economic awareness among students. This year, 23 schools from across the county are competing for the title of FBM Champions, a title that King James has already taken on two occasions.

This year, our entrepreneurs have developed a business idea called Carbon Footprint, which focuses on recycling shoes. Customers browse and shop online to choose a customised shoe design and then send in a pair of old shoes for transformation. There are even "Design-it-Yourself' and "Bespoke' options, where Carbon Footprint designers will create something for you.

The team has now submitted their business proposal and report; this completes Challenge 3 of the six in total, and we are awaiting news of the points awarded by the judges. We will reveal the results soon.