Pacific Business Trust says YES to young entrepreneurs

PRESS RELEASE
20 June 2013

For immediate release

Pacific Business Trust says YES to young entrepreneurs

Pacific Business Trust awards 15 successful Seed Fund grants ranging from $100 to $500, to assist Pasifika teams competing in the 2013 Lion Foundation Young Enterprise Scheme (YES).

On June 6th the Pacific Business Trust (PBT) hosted the presentation of the successful Seed Fund grants provided by PBT to assist Pasifika teams competing in the 2013 Lion Foundation Young Enterprise Scheme (YES).

YES is a one-year programme that provides secondary students the chance to set up and run a small business. The programme is run throughout New Zealand by Young Enterprise Trust, with more than 3,000 students taking part annually.

Of the 18 applications received by PBT in 2013 from high schools across the country, 15 were awarded grants ranging from $100 to the maximum of $500, reflecting the strong quality business potential of each submission.

Aorere College and Auckland Seventh-day Adventist High School (ASDAH) were awarded $500 grants.

Students from Aorere College formed their own business named Lunches for Less (L4L). Their plan is to deliver hands-on workshops to Year 4 and 5 students in decile one primary schools to show them how to make healthy lunches on a budget. All lunches the students will make can be made for less than $2 a day.

ASDAH’s business venture saw the creation of EZYcom, which aims to enhance community awareness of historically significant areas in Mangere, where the school is based. The sightseeing-based product involves the local South Auckland community in targeting the wider tourism sector.

EZYcom has already generated $4,500 in funding from other interested parties, and it is negotiating further support from large potential investors such as Auckland Airport and Auckland Council.

The teams are mentored by PBT Business Facilitator Kalia Valoa.

Part of the criteria for PBT funding was the teams’ consideration of their local community and the strength of their business case from an investor perspective. Additionally, teams needed to have substantial membership by Pacific students and NCEA curriculum standards for business were also taken into account.

The selection panel that assessed the grant applications consisted of Maureen Tukaroa-Betham (PBT National  Business Coordinator), Lucy Wymer (Young Enterprise Trust Pasifika Coordinator) and Marisa Maepo (MPIA Senior Education Advisor).

MPIA CEO Pauline Winter presented the successful teams with their awards in front of more than 120 people made up of students, family members, principals and other distinguished quests.

The 2012 overall winner ‘Company of the Year’ was Caring & Co, and PBT was able to provide them with mentoring support throughout the year. The group, from Manurewa High School, created an award winning olive oil called Unique Drizzle, which they were able to showcase to Prime Minister John Key at PBT’s Otahuhu headquarters in September 2012.
“The creativity and raw business acumen of our Pacific students participating in the Young Enterprise Scheme continues to impress me each year,” says PBT CE Peter Cordtz.

“PBT’s support and encouragement towards these teams, whether it be through mentoring services or assistance with funding applications, is a sign of the services we can provide to the wider Pacific business community.

“We congratulate all the teams involved on the night and wish them all the best for their respective business adventures in 2013 and beyond.”

ENDS

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