Twenty teams of aspiring entrepreneurs from the St Vincent Girls’ High School (GHS) will be battling it out in the third iteration of the Shafia London Business Challenge 2024.
The competition, coordinated by the school’s Business Department, is hosted among the Form Three students and requires them to create and run a small business with start-up capital.
The GHS hosted the launch of the competition on Wednesday, January 31, where students got the opportunity to meet with their mentors who will guide them through the next four months of business creation and development.
The competition’s sponsor, Shafia London, though not able to attend the launch in-person, sent remarks to the participants pointing out the importance of the challenge in not only developing entrepreneurial skills but also building up the business landscape in St Vincent and the Grenadines.
“The challenge equips young people with the skills, confidence and connections to beat the odds and become successful, responsible business owners and leaders… through business, people can achieve economic security and independence. “When businesses thrive they create new jobs, shape communities and drive economic growth. If SVG is to become a leader, it must become an economic power.”
Recently appointed Principal of the GHS, Latoya DeRoche-John said she is excited to see what businesses the students conceptualize this year and reminded them of the primary objective of the competition – to create a business that is profitable.
In last year’s competition, students’ businesses returned profits ranging from EC$25 to $8,555.
Health and Family Life Education Officer in the Ministry of Education, Heather McColman described the challenges as a “worthwhile venture” for students.
“This early exposure to entrepreneurship will set the stage for the development of ideas for business, provide guidance on how to organize yourself towards the creation of businesses, and to give you an awareness of the diversities that are available in the world ….k”
The final judging for the business challenge is scheduled for May 22 and the announcement of the winning team takes place on May 31.