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Schools competition for our future small businesses



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MINISTER FOR

SMALL BUSINESS AND CUSTOMS THE HON. DAVID BEDDALL

IMMEDIATE RELEASE 19 MARCH 1991 25/91

SCHOOLS COMPETITION FOR OUR FUTURE SMALL BUSINESSES

The Minister for Small Business and Customs, Mr David Beddall, launched the 1991 National Schools Business Plan Competition in Brisbane today.

The Competition is open to Year 11 and 12 students in schools throughout Australia and New Zealand and is promoted jointly by the Australasian Commercial and Economics Teachers' Association and the Australian Bankers' Association.

"The National Schools Business Plan Competition is an excellent way to bring business into the schools," Mr Beddall said.

"It encourages enterprise education and is all about enhancing the business acumen and management abilities of students emerging from our secondary schools.

"Students entering the compeition must undertake market research and prepare a business plan enabling their entrepreneurial ideas to be transformed into profits. "

Mr Beddall said that a recent study of small business found that half of the small business operators studied had undertaken no management training or education.

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"For about two thirds of small business operators, the only business training they might receive would be during their secondary school years," Mr Beddall said.

"This lack of basic management education and training, and the lack of preparation prior to the start up or expansion of small business is a major contributor to the high rates of small business failure in Australia.

"Banks and accountants, among the key private sector agencies are about to play a key role in encouraging small business operators to undertake education and training.

"However, teachers have a crucial role to play in promoting an enterprise culture among their students and in ensuring students have the basic management and business planning skills to allow them to translate their entrepreneurial drives into a successful business venture.

"The small business operator that has been taught some business skills and participated in this competition during secondary school has a good grounding in the importance of planning and management skills in operating a small business," Mr Beddall said.

BRISBANE Contact:

John Mcllwain (07) 372 7488 (W)