TOPIC OF THE WEEK - TWEEK
THE NETWORK BOOST
CAN GLOBAL FORUMS BOOST YOUR BUSINESS?
Renee Horne – London 25 November 2011
In the current economic climate, sheer luck and free hand-outs to start a business are rare, more often it’s about knowing the right people who are knowledgeable about business who can offer good advice. But where does one start, in a world where the phrase “it’s not what you know but who you know” often leads to success? You can firstly surf your way through the endless websites providing advice and opinions about starting a business as well as the risks and the rewards. Or you can attend events where one can simultaneously obtain knowledge as well as showcase your business acumen. A case in point is the Global Entrepreneurship Week (GEW), which aims to address the concerns and anxieties of budding entrepreneurs while enabling people to create new opportunities and successful ventures. The GEW began as Enterprise Week in the United Kingdom in 2004 and later spread globally. Years on, what will a week of enterprise oriented events achieve? Has the networking at these events paid off for entrepreneurs? Read More……
GLOBAL ACTIVITIES
Since the inception of Enterprise Week in the UK, the activities have spread globally with communities around the world participating by running similar initiatives in their own countries. In 2008, the first Global Entrepreneurship Week was formed by the Kauffman Foundation. This year, the week kick-started on the 14 November with a range of activities such as enterprise competitions, talks from local role models and even large scale conferences. There are virtually no requirements to join in the more than 40,000 week long events, hosted by 25 thousand partner organisations in 123 countries. This year, Youth Business International played the UK host for GEW. Andrew Devenport, Chief Executive of Youth Business International said, “There is a great need to provide opportunities today that help entrepreneurs pursue their dreams and build the businesses of tomorrow. Global Entrepreneurship Week 2011 kick-starts the conversations that are needed to make this happen.” So what tangibles do the conversations at GEW provide? Or is it merely another year, another GEW celebration with festivities but no practical solutions on how to start a business or what does it take to be a prosperous entrepreneur?
THE START UP BATTLE
The aftermath of the week has seen an online Global Start Up Battle which is a competition that ends on the 28 November 2011. As part of GEW was the initiative Start UP Weekend, where more than 60 communities across the world battled it out to produce forty-eight winning teams. The global public is invited to vote on the start-up they want to win “the battle.” Both young and old have provided some innovations ranging from sushi-shaped candies, presented by a 10 year old to an android application that asks you to learn a new foreign language word before unlocking your Android phone. The Start Up Champion may not necessarily receive immediate hard cash, but the winner has a platform to showcase his/her innovation with additional winnings such as website design services and PR/ Legal packages worth over $20 thousand.
INSPIRING STORIES
There have been positive stories emerging from the week long activities. A heartfelt story is Omar, a 23 year old student studying Electrical Engineering at the public university in La Paz, Bolivia. He wrote, “I wake up at 5 am every morning to deliver the newspaper across various neighbourhoods in our Capital. I earn only $56 US a month, which allows me to cover the costs of my studies and lunch every day. I come from a poor family and my parents do not make enough money themselves to maintain our family. I became aware of Global Entrepreneurship Week through a friend and decided to get involved as a volunteer because I dream of having my own business in the future, and was delighted by the idea of learning more about becoming an entrepreneur. I rapidly got involved with the group and offered my design skills, which is my real passion. I was soon responsible for designing various marketing materials that we used to promote the Week. After my experience with the campaign, I am much more confident and I have already signed up a couple of new clients. Through getting involved in Global Entrepreneurship Week, I now own my own design consultancy!” There are some entrepreneurs who are not seeking personal profit, for example, Filton College in Bristol used GEW to link up with schools from around the world to create a globally inspired recipe book. This year, the students ran an advertising campaign, selling the recipe book along with some featured food making a £350 profit which was donated to Children in Need and UNICEF. In Uganda, entrepreneurs of Small and Medium sized Enterprises (SMEs) showcased their products and services in a GEW exhibition. Many hoped that the week inspires more people to venture into business as well as help entrepreneurs grow and develop sustainable businesses. Indeed, GEW has become a worldwide movement, showcasing successes of people unleashing their enterprising talents, however turning your ideas into a successful business is still a struggle for many? Have your say…