Online edition of Sunday Observer

W. R. S. Wijesena, Proprietor Trendy Dress Heart, Warakapola, who was a competitor at the first regional final of the Young Business Start-up Awards 2003 in Kandy.

Ten young entrepreneurs were felicitated for their commitment and dedication at the first heat of the Shell LiveWIRE Regional "Young Business Start-up Awards" (YBSA) for 2003 held in Kandy. This regional heat, the first of three, reflected the talents of applicants from the Central, Uva and Sabaragamuwa provinces.

Saman Kumara Senadeera (Senadeera Agro Service, Rambukkana), Samanthi Kumari Senerath (New Lanka Potters, Moranthota), Rasika Nilushan Randeniya (Microvision Computer Training Institute, Kegalle), M. M. Anuruddha Herath (E-Rats Technology, Mawanella) and Rathna Prabath Dhamarangana (Dhamarangana Food Process, Mawanella) were chosen as finalists for the National LiveWIRE Awards, scheduled to be held in August. These five young entrepreneurs beat five others to enter the national finals. Over Rs. 400,000 in prizes will be on offer at this year's National YBSA competition, with the winner receiving a substantial cash prize, free publicity, and vital networking business links.

Shell LiveWIRE Trust, a community investment initiative of Shell Sri Lanka, aimed at encouraging youth entrepreneurship in the island will be conducting the fourth National Shell LiveWIRE Young Business Start-up Awards 2003 at the Galadari Hotel. Seventy competitors applied for the YBSA competition islandwide, of which 35 (50 per cent of the total pool), were from the Central, Uva and Sabaragamuwa provinces.

The three regional heats of the YBSA competition are being judged by Dr. Mahesha Ranasoma, Director (Operations) Shell Gas Lanka, Gamini Yapa, Senior Manager (Rural and Micro Credit), Hatton National Bank, and Daya Jayaratne, former Chairperson of the Women's Chamber of Commerce and Managing Director Daya Jayaratne Associates (Pvt) Ltd.

The regional competitions will enable more regional representation and also provide more opportunities for regional start-up business to compete. The competition encompasses all nine provinces.

Though the regional finalists were given an opportunity to display their wares in a stall provided by LiveWIRE, they were allocated points based exclusively on the soundness of their business plan, and an interview with the three judges. The business plans included a summary and description of the business, an analysis of the market the business has entered, a marketing plan, business impact on the environment, details of costing and pricing, a cash flow statement and a profit and loss account.