NEWS | Wednesday, 20 February 2008

Young entrepreneurs vie for best business plan prize

In Malta, there is an increasing number of young potential entrepreneurs. They feel they have a great idea for a new business. Today they can test and develop that entrepreneurial idea through the Best Business Plan Competition for 2008 organised by Junior Chamber International – JCI (Malta).
This competition, supported by HSBC and KPMG, gives individuals the opportunity to be trained and mentored by experts and established entrepreneurs so that these young people put their original and viable business ideas in practice. A panel of judges will give recognition to the most innovative and well drawn-up business plan, but all participants will gain benefits simply by participating in this competition.
The Best Business Plan will win a grand cash prize of EUR 2,500 while the first runner up will be awarded a cash prize of EUR 600. The best business plans will also be nominated by JCI Malta in JCI’s International Best Business Plan Competition and the 2009 JCI World Congress, with the chance of winning a further US$ 5,000.
“Since its inception the JCI Best Business Plan competition has helped launch several new enterprises. JCI now has a track record of encouraging the spirit of innovation and entrepreneurship amongst young Maltese, whilst giving them the opportunity to develop leadership skills, social responsibility and fellowship, both for their own advancement and for that of the Maltese community,” said Chris Mallia, JCI Malta 2008 National President.
“It is essential for Malta to have more citizens with an entrepreneurial spirit. Our Country has a need to boost its innovation index and to increase the number of male and female self-employed persons. This is why for the seventh consecutive year, HSBC is supporting JCI Malta in its Best Business Plan Competition,” said Ms Lorna Farrugia, Head of the Small and Medium Enterprises Unit at HSBC Malta.
“As Parliamentary Secretariat for Small Business and the Self-Employed, we have continuously worked to instil an entrepreneurial mentality. We have strived to ensure that entrepreneurship education is introduced at all levels, from primary to tertiary education. We have also organised adult training seminars in entrepreneurship, to ensure that even people who already have their own business remain in touch with the changes that are happening around us. We also supported European Union Programmes such as the Equal Programme and the ESF 47, which were aimed at helping particular sectors of society to start a new business,” said Edwin Vassallo, Parliamentary Secretary for Small Business and the Self-Employed.
Participation in the local competition is open to all Maltese residents aged between 18 and 40. For more information of the BBP Competition and an entry form, please visit the JCI Malta website at www.jci.org.mt, e-mail [email protected] or contact the Project Team on 9989 7036. Submission deadline for applications is 31st March 2008.
JCI Malta is affiliated to Junior Chamber International (JCI), a worldwide federation of young leaders and entrepreneurs aged between 18 and 40 that believes in the advancement of the global community and the creation of positive change. The federation has over 200,000 active members world-wide and millions of alumni participating in projects and events. JCI is present in more than 6,000 communities located in over 100 countries around the world.