Developing heads for business

Nearly 200 young entrepreneurs gathered at Wintec to embark on a crash course in business this week.

The year 12 and 13 high school pupils from around Waikato, contestants in the 2010 Lion Foundation Young Enterprise Scheme, will spend the next few months developing and operating a business – hopefully for profit – as they compete to be the regional and then the national YES champions.

This year the scheme has been handed over from Opportunity Hamilton to Smart Waikato – an organisation which builds contacts between businesses and Waikato schools.

Smart Waikato regional manger and regional YES co-ordinator Mary Jenson said the purpose behind the change in management was to broaden the competition by getting more schools participating from across the region.

The competition taught pupils real-world business skills through developing their product and service ideas in the marketplace.

The students from Cambridge's St Peter's School were still deciding which products they would develop into a company with their mentor for the day, Wintec international director Stewart Brougham.

Mr Brougham encouraged them to consider how much product development and investment each option would require.

"They are sharpening up their ideas and thinking of strategies," Mr Brougham said.

Industrial Tube Manufacturing Group director Julian Green said the opportunity to pass on some of his business knowledge was a way of giving back after he himself received help from mentors since taking on the family business about 10 years ago.

"It is great to see such enthusiasm from these young people but they need to understand it is not all beer and skittles," Mr Green said.

He advised the pupils to go with a product or service they were passionate about.

Other mentors at the sessions included; Waikato Chamber of Commerce chief executive Wayne Walford, Tompkins Wake partner Phil Taylor, Stafford Engineering managing director Roger Evans, King St Advertising chief executive Chris Williams and Longveld Engineering director Pam Roa.

- © Fairfax NZ News