A Blueprint for Success
A 22-year-old Nova Scotia College of Art and Design student is one of seven award of merit winners under the Youth Entrepreneurial Skills (YES) program, an initiative of Economic Development and Tourism.
Manning MacDonald, Minister of Economic Development and Tourism, presented the awards at a luncheon today at Halifax's World Trade and Convention Centre honouring some of the province's youngest business owners.
Rachel Beach is in her final year of the bachelor of fine arts program at NSCAD. Last summer she decided to take the skills she's developing at school and apply them to a business, with the help of a YES loan.
"I knew what I could do had business potential," said Ms. Beach. "The YES program just gave me that extra push or motivation I needed. It helped to make it (the business) happen when it may not have otherwise."
A loan of $1,000 enabled Ms. Beach to buy the inks, T-shirts and mesh she needed for her business, Pronto Screen Printing, which opened in June. Rachel spent the summer printing customer's designs on T-shirts and posters, offering design advice when needed.
Ms. Beach said her connections in the art community saved her a lot of money in advertising. "The main type of advertising that helped my business was word of mouth," she said. "I was very busy and most of my customers were the result of others passing my name along."
Projects she had worked on in school also helped in her business. "I've done some posters for the music industry because I had some experience working with them through projects at NSCAD."
Pronto Screen Printing was such a success over the summer that Ms. Beach maintains it part time. "Now I have all the equipment and inks, so I can keep it going on the side."
She said that running your own business is a learning experience. "It's all trial and error. But once you actually get going, you learn so much. And if you're the entrepreneur type, the YES program is the way to go."
The YES program provides loans to full-time students between the ages of 16 and 29 to set up and operate a business. The program helps participants prepare a business plan and provides business counselling and training. Students must apply to Economic Development and Tourism and may receive a loan of up to $5,000.
YES award winners are selected on the basis of region, loan repayment, consultant reviews, regional development officer reviews, and demonstration of entrepreneurial qualities.