Young entrepreneurs taste success in business planning [1]
Thursday, April 18, 2013 - 16:15. Updated on Monday, September 9, 2013 - 18:40.
Delighted entrepreneurs, Tupou Kefu, Pisila Taufe'ulungaki, Anau Tupou and Suliana 'Uta'atu. Nuku'alofa, 12 April 2013.
Four young entrepreneurs have won $1,900 seed capital for building their business plan, in a competition for business investment capital.
Calling their business "Tasty Delights" the team consisting of Tupou Kefu, Pisila Taufe'ulungaki, Anau Tupou and Suliana 'Uta'atu, have already started producing a "healthy alternative snack food" venture, selling fresh popcorn to targeted events.
They were one of four finalist teams in Tonga's "Women in Business – Be Your Dream" programme who are now competing for the top prize of $4,000 to invest in their business.
Six teams competed for the seed capital in the first round and the finalists received amounts ranging from $1,900 to $1,350 at an awards ceremony in Nuku‘alofa on April 12. The top four teams were:
1. Tasty Delights;
2. Taste Tinglerz (Lusitania Nakao, Patea Fonua, Kathleen Burenivalu and Anatangi Hala'eua);
3. Culture Fusion (Luisa and Samuela Fonua, 'lisapesi Fonua, Finau 'Ahokava and Chris Egan);
4. Fonolahi (Ane Fonolahi, Naise Dakai, Lupe Goulton and Seini Osonara Vakanawa Kubu).
The first round judges were Leta Kami Tonga Development Bank, Adiloa Latu of Adiloa's Store and Molesoni Dansey of the ANZ Bank, who presented the awards to the winning teams at Fund Management House.
The business development programme is run by the Emerging Pacific Women Leaders Program, which aims to provide women with an opportunity to learn how to make a sustainable livelihood. Training and mentoring is provided to the entrepreneurs to help them acquire skills in budgeting, planning, interpersonal relations, decision making, reporting, communications, risk management and teamwork to express their creativity.
In the second phase the successful teams will undergo a three-day business training programme and will have six months to implement their plans under the mentorship of TBEC, before being judged again for the final prize.
The programme is supported with AUD $25,000 through the EPWLP Programme and Australian and New Zealand Aid, with local sponsorship of $10,000 from FEXCO Western Union, as well as team support from WISE Tonga Inc. and TBEC.