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The Shell LiveWIRE Trust, a community investment initiative of Shell Sri Lanka, aimed at encouraging youth entrepreneurship in the Island will conduct the fourth Shell LiveWIRE Young Business Start up Awards, in August 2003.

The Shell LiveWIRE Young Business Start-up Awards is an awards program targeting young business people between 18 and 32.

The closing date of the competition is April 30 by which time a completed application form and a 12 page business plan must be submitted to Shell LiveWIRE.

Over Rs. 400,000 in prizes will be on offer at this year's Young Business Start-up Awards ceremony, with the winner receiving a substantial cash prize, free publicity, and vital networking business links.

This year will be the second consecutive year when the Shell LiveWIRE "Young Business Start-up Awards" will have three regional heats, which precede the National Finals scheduled for August 2003. The regional competitions which will take place this year in the Galle, Kandy and Gampaha districts will enable more regional representation.

The Young Business Start-up Awards scheme aims to recognise the achievements of young people between 18 and 32 years who have been in business between three months and two years. All legal businesses are eligible to apply for the awards scheme.

To be considered for the awards, applicants have to produce a business plan that will include a summary of the business, an analysis of the market the business has entered into a marketing plan, details of costing and pricing, a cash flow statement and a profit and loss account.

Detailed guidelines on how to produce a business plan are available through Shell LiveWIRE. The awards are an opportunity for young innovative entrepreneurs, as the competition is based on the 'business plan' of the organisation entering the awards. "By now the Shell LiveWIRE YBSA has a brand value of its own right, and we have no doubt that proactive young entrepreneurs will use this opportunity wisely to gain both exposure and confidence", said LiveWIRE's Project Manager Piyumi Samaraweera. "This year we expect no less than 70 applications and we are confident that at least some of these applicants would have started or expanded their businesses due to some influence from the Shell LiveWIRE program", she said.

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