Young entrepreneurs prove their capability

Ramani Kangaraarachchi

Many teenagers like to enjoy their lives with music, dancing, sports or fashion despite their busy study schedules.

But a different set of talented teenagers were brought to light at the Young Entrepreneurs Award Ceremony 2006 held at the BMICH last week.

Parents and adults tend to think that youngsters spend lavishly on unnecessary things and they do not

 realise the value of money. But this group of young students proved their mettel through companies they manned in their schools.

They enjoyed carrying responsibilities, decision-making, giving leadership to their members and sacrificing their leisure time to make their business a successful venture.

Advanced Level student Nimesha De Silva (18) of Musaeus College, the President of Trident School Company won the Most Outstanding Young Entrepreneur title at the award ceremony.

"We selected fashionable Kurthas popular among young girls as our product. It was not bad but the profit margin was only seven per cent which we thought not sufficient.

Then we diversified to Greeting Cards and it was fantastic. Our profit margin reached 400 per cent", Nimesha shared her experience with the Daily News.

Questioned about the barriers she said at the beginning two of their members resigned and we had to find replacements.

We ran at a loss during the first few months but we picked up with the experience.

I learnt a lot through teamwork and I am able to face any challenge, she replied confidently.

Her future plan is to become a corporate lawyer. "This is a very good opportunity to prove one's capabilities and talents therefore get enrolled and prove yourself", was her message to young students.

M. A. K. Mahesha Kalyani (17) from the Mahiyanganaya National School President of Splendour Company won the "Most Outstanding Young Entrepreneur Girl" title which brought honour to her village and school through her excellent performance.

One year ago she got the opportunity to participate at an introductory programme on YESL at the school and she was convinced that she must start a company.

"We could easily find grains such as kurakkan and rice from our area and we started making instant food items.

Making rice and kurakkan flour packets was another product. They were sold at the school canteen and outside as well.

Her capital was found by issuing 4,150 shares. Adverse weather condition was her main barrier to find the raw material required. But the business was profitable and successful, she said.

"I got the opportunity to get a valuable, practical experience of the theory I learnt in school as a Commerce student and my future plan is to become a woman entrepreneur", Mahesha said. Her teacher-in-charge Manori Abeysinghe observed her as a brave and confident leader who obtained a good practical knowledge through YESL.

Eighteen year old A' level student at Ananda College Suwan Fernando won two awards for the first time in YESL history. He was impressed about YESL five years ago when his brother got involved in it. This gave him a better understanding and was able to win both Most Outstanding Young Entrepreneur Boy and Leadership of the year award at the same time.

He had 25 members in his team including five board members.

Ballpoint pens and multi purpose paper weight, mouse pads were their product they had a capital investment of Rs. 25,000.

His company was able to make a gross profit of Rs. 15,300. The time factor was one of his barriers despite school work.

"But I learnt how to work as a team and how to face challenges through this project. Being a maths student his future plan is to become an engineer and serve the country.

Young Entrepreneurs has been successful in grooming young children to pursue their careers in business and to contribute their share to the global competitive economies.

They have registered as a viable and a strong force of young entrepreneurs .

This year alone 38 school companies presented over 150 candidates for the awards.

The panel of judges included six eminent business community members and was chaired by Prof. Lakshman Jayatilake, Chairman National Institute of Business Management.

YESL has developed a strategic plan for five years with a target of reaching 400,000 enrolments and establishing six regional centres covering unserved schools and areas.

An interim phase of restructuring YESL and capacity building has already commenced with USAID assistance.

Students are taught to form companies

Tamara Nissanka

Putting money into a child's hands would not be as risky as it sounds, given that the child is provided with the proper guidance and education in handling money; which is precisely the function of the Young Entrepreneurs of Sri Lanka (YESL).

Founded in 1997, YESL has succeeded in offering free entrepreneurial education to thousands of students across the island over the decade.

The volunteer organisation is established as a member Nation Franchise Holder of Junior Achievement Worldwide.

Under the YESL programme students are taught to form companies simulated on real life business organizations with company directors, presidents, secretaries, and financial managers. However, these student companies, by contrast to true business, appoint social responsibility directors who checks and balances the ethical practices of the business.

YESL entrepreneurial education has presently reached 0.87 per cent of the country's 4 million schooling population. Though the number may seem a fraction of the Sri Lankan students, it is of value to mention that the YESL-trained youth are currently at paramount positions whether in business they own or in companies they serve.

This success constitutes to the down to earth, practical experience they receive as part of the programme.