Last chance for young entrepreneurs to win prize
Feb 20 2002
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Entries for the Shell LiveWIRE Young Entrepreneur of the Year Award 2002 close today, 18 February. So far a record 1,100 people have entered this year’s competition. The top prize is £10,000.
The annual competition is aimed at 16- to 30-year-olds who have been operating a legal business in the UK for between three and 18 months previous to the start of the competition.
So even if you have missed this year’s closing date, you can give yourself a good chance to prepare for next year’s awards.
Entrants need to send in a business plan with a completed entry form to their local Shell LiveWIRE co-ordinator. Winners of the local heats go through to the regional events.
Those who succeed at this next stage go on to the national finals for England, Scotland, Wales and Northern Ireland. Lastly, those who triumph at a national level, attend the UK final in June to decide the overall winner.
Some local competitions are decided on the basis of their business plan alone. However, the judges of the three latter stages will all interview entrants as well as look at their business plans.
Additional awards, beyond the main competition, are also given to young businesses that have shown “considerable progress since starting up.” The total prize money up for grabs is over £200,000.
Shell LiveWIRE also offers less tangible support to these budding entrepreneurs, providing “free local advice, information and business support on ideas ranging from worm farming to computer networking.”
The oil company says more than one in three young people would like to start their own firm and hopes the Awards reward and raise the profile of “Britain’s most promising young business people.”
Kieran Middleton (28) and Neil Jordan (29), founders of mex2go, Scotland’s first Mexican fast food chain, were the overall winners of last year’s competition.
Shell LiveWIRE says the pair were inspired to run with the idea after setting up an outdoor store at a festival in Leith for six Sundays: “they achieved sales of over £600 in one day.”
The duo employ 20 people, and according to Middleton, their expectations of making £300,000 in revenue during their second year in business are “on target”. They are also looking to open a third branch later this year.
Andrea Mason of Shell LiveWIRE explained that, apart from the cash prizes to be gained, entrepreneurs also stand to benefit from useful publicity at each stage of the event, whether local, regional or national.
The entrepreneurs can also use their networking skills during the competition as they meet up with other young business people and share experiences. The feedback from the judges should also prove invaluable.
For further details and to find out who your local co-ordinator is, visit www.shell-livewire.org/win10k .
With thanks to Lloyds TSB Success4Business. For more news and information visit www.success4business.com.
(18/2/02)
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