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The Youth in Business Challenge

Principle

The Youth in Business Program is a learning experience for young people, teachers and business people. Senior secondary school students form a business and develop products that they market and sell. YIB (modeled on the New Zealand Young Enterprise Scheme) is school based and teaches skills in budgeting, planning, interpersonal relations, decision making, reporting, communications, risk management and teamwork.

The young entrepreneurs add value to school based knowledge, learn how to run a business, learn the value of being enterprising, develop a “can do” attitude, and learn to take and manage risks. The competition allows them to interact with positive business role models, obtain a “hands on” experience in the development of business competencies, get the opportunity to test their own creativity and innovation, and earn improved skills in teamwork, communication, decision making, planning, time management and leadership.

In New Zealand, the scheme is supported at the local level by Regional Coordinators, who, during the year find business mentors for each company, arrange directors’ seminars, trade fairs, oral and end of year presentations, and teacher/mentor training.

In Tonga

The YIB Program is a Tonga Chamber of Commerce & Industry Inc. (TCCI) Initiative in Partnership with the Secondary Schools Principals Association and the Ministry of Education. The project will be developed on a 3-year period, as follows:

  • Year 1 (2010) pilot with 4 schools => Prize = a trip to New Zealand to visit businesses and meet teams of students competing in the YES program
  • Year 2 (2011) regional with all the schools of Tongatapu => Prize = to compete in New Zealand finals
  • Year 3 (2012) national with all the schools of Tonga => Prize = to compete in the Regional finals in Singapore

Timeline of events 2010

  • 24 May – Oral presentation of the business plan by the teams to the judging panel
  • 31 May – Seed Capital Awards Ceremony: the 4 best teams get an initial capital (between $1,000 and $3,000) to start their business
  • June-September – The 4 finalist teams create, market and sell their products
  • 27 September – Oral Presentation of the business by the teams to the judging panel TO BE CONFIRMED
  • 30 September – Prize-giving Ceremony TO BE CONFIRMED
  • 15-19 November – The winning team, accompanied by their Commerce Teacher, their business mentor, and a chaperone chosen by the parents, fly to Wellington for 5 days TO BE CONFIRMED

Steering Committee 2010

  • 3 representatives from TCCI (Cecile Quesada-Moaeteau, ‘Aloma Johansson & Tsutomu Nakao II)
  • 2 representatives from the Secondary Schools Principals Association: Chair (Paul Fonua) & Secretary, (‘Ungatea Kata)
  • 1 representative from the Secondary Schools Commerce Teachers Association: President (Ma’ata Fakava
  • 1 representative from Min. Ed (Teresa Pahulu)

Judging Panel 2010

  • President of TCCI (Paula Taumoepeau)
  • Robina Nakao (nominated by TCCI Council)
  • President of Bankers’ Association (Arthur Hubbard)
  • Representative nominated by Secondary Schools Principal Association (Fr. ‘Aisake Vaisima)