Competition offers a beacon of hope for new business ideas

The search is on to kick-start a business idea into fruition with the launch of the Beacon Bursary competition which will see one business idea nurtured at Llanelli’s Beacon Centre for Enterprise.

The competition, in its second year, offers a prize of six months free office space with mentor support – or for those who don’t need premises to run their company, a cash equivalent for capital expense – to help develop their business. It is a joint project for students at Coleg Sir Gâr and Trinity Saint David but is also open to all students that live in Carmarthenshire.

On top of the prize, mentor support is a key attribute in this competition and all applicants are eligible to take part in a mentoring training programme before the process of shortlisting begins. Launching this year’s competition at Coleg Sir Gâr was college principal Barry Liles and Carmarthenshire County Council executive board member for regeneration and leisure Cllr Meryl Gravell who together thanked businesses acting as mentors, for their time given to young people involved with the competitions.

Cllr Meryl Gravell said: “I’m delighted that the Beacon Bursary competition is entering its second year. It got off to a good start in 2012 and last year’s winners have benefited from it.

“I’m again looking forward to seeing the competition progress through to the Beacon Bursary and wish all the students well in their efforts. We want to encourage young entrepreneurs who will help to secure the future of Carmarthenshire’s economy.”

Last year, filmmaker James Button (pictured) and website designer Owen Walter, took the top prize of 12 months free office space and mentor support. James Button reflected on the past year and said how his confidence has grown. He said: “I knew nothing about business before this competition and when I was given a mentor, they were brilliant as they help you with anything you need to ask, it really does help you.”

Kerry Matthews, enterprise coordinator at Coleg Sir Gâr, said: “I’ve noticed a drive from government, courses and councils to use enterprise to try and further our economy.

“I think this competition helps that drive in the sense that it removes the scare factor and provides a support system for a new business.”

Boot camp begins in February where those taking part will be invited to business-related workshops such as financial planning, marketing and accountancy, the second stage involves a speed-dating type event with business mentors then shortlisted students will pitch their ideas to a panel of judges.

Barry Liles, Coleg Sir Gâr principal, said: “I see the Beacon Centre of Enterprise as a beacon of success in this region. It is now at almost full capacity with companies ranging from manufacturers of laser technologies to design and engineering consultants, so I hope the competition allows students of all ages to benefit from seeing for themselves the possibilities that are in front of them with the added benefit of business support.”