Best Youth Entrepreneurship Project 2013 World Chambers Competition

Executive Summary The South Australian Young Entrepreneur Scheme The South Australian Young Entrepreneur Scheme (SAYES) is an initiative of Business SA (South Australian Employers Chamber of Commerce and Industry Inc) and has been in operation since 1998. 2013 will mark the 15th anniversary of this highly successful program. The objective of SAYES is to foster entrepreneurship within the community by attracting young enterprising South Australians with viable and diverse ideas to the program so that business ideas can be nurtured and grown. SAYES assists young South Australians, aged between 18-35, to develop a business idea or further enhance an already established business. We provide the skills, confidence and networks that will enable them to grow a business and remain in South Australia. The assistance provided helps young people fine tune their business idea and obtain important information firsthand, from successful South Australian business people who volunteer their time as mentors to the scheme. There are over 60 experienced mentors currently registered with the program with diverse business backgrounds ranging from specialists such as lawyers, accountants, IP attorneys to generalist entrepreneurs running businesses individually turning over tens of millions of dollars. The key to the program is our mentoring. Young people receive access to business people with the experience and contacts to give them a flying start at their new business.

SAYES has produced many success stories from the 450 participants that have taken part in the program over the last 15 years. A recent survey sampled 60 graduates and found them to have a combined annual turnover of over $41million, employing 339 full and part time employees. Business SA takes great pride in managing a program that delivers results like these. SAYES fulfils an important role within South Australia by engaging, educating and creating employment outcomes through the promotion and assistance it provides to young business owners. The program is unique and is successfully fulfilling one of its main aims, which is to create a more enterprising South Australia.

Nigel McBride CEO Business SA

history of sayes South Australia sits in the middle of a vast continent globally known for its mineral wealth on both the west and east coasts. The major east and west coast cities are also home to the major corporate, financial services and resources head offices. Adelaide, South Australia’s capital, is only home to 7 of Australia’s top 200 ASX listed companies. It is an SME State where 84% of its businesses either employ no one or less that 5 people. The State’s traditional manufacturing and agribusiness industries are periodically subject to enormous pressure from a strong Australia dollar and therefore face serious issues around global competitiveness. Historically the State has struggled with business confidence and the lack of ‘boom’ industries found in other Australian states. There is a compelling need to innovate, but lack of access to capital and historically a feeling that “nothing really happens here, it all happens elsewhere.” Arresting the talent drain from a small market In spite of excellent learning institutions, and the State’s natural beauty, too many young people, often highly educated, between 18 and 35 see few opportunities, little future and leave for other Australian capitals or overseas. This is robbing the State of its future wealth and compounding an ageing demographic issue. The State’s population is expected to age significantly over the next 30 years with the median age projected to increase from 38.8 years in 2006 to between 41 and 46 years in 2036 (Population Projections for South Australia

and Statistical Divisions, 2006–36, Government of South Australia). Instead of seeing South Australia as only an SME, ‘capital challenged’ State without a resources boom as a weakness, Business SA wanted to turn this environment into an incubator for brilliant ideas by a new generation of young entrepreneurs who would do ‘more with less’ and make us the ‘smart’ State in the midst of the ‘lucky [resources] country’. Commercialising great ideas on a shoestring with the support of the small business community So SAYES was born. A vision to take young people (formally educated or not) with great lateral ideas who could embrace the personal and business disciplines of making it work commercially. You don’t get that from just sitting in a university classroom, you get it from the “school of hard knocks” and from people who’ve walked that road and will walk it with you - volunteer mentors who will share your passion like their own as they help avoid years of mistakes and give these young people the best possible shot at success. As the State’s peak Chamber, Business SA created not only a mentor network but like minded sponsors like UniSA’s Business School which recognise the power of innovation and the spirit of true entrepreneurship. Harnessing the power of the Business School of Hard Knocks through business community The program itself provides 12 months of training and mentoring by highly successful local business leaders keen to pass on their experience to the next

generation. The length of the program allows young people to hit a few speed bumps along the way to creating their business and still have access to a mentor who can guide them through. In addition to mentoring, participants attend a monthly workshop series presented by leading experts in topics such as strategic management, finance, law, leadership, media, business models and online strategies. Networking events allow participants to mix with alumni, mentors and sponsor organisations and there is even access to low interest micro-finance through our Youth Entrepreneur Fund sponsored by Newmont. Entry to the program is competitive requiring an online application and an interview process for short-listed candidates. Each year we accept 20 to 50 young people onto the program. Waiting lists are long with in excess of 230 people expressing interest last year. This is all about micro businesses turning into much more as part of the State’s future.

“I had been running my business for 8 years and it wasn’t doing so well when I started SAYES. Everyone knew of my work but I was not busy and I had no money to put into advertising. One of my close friends was applying for SAYES and I thought I may as well do the same to see if it could help. Turns out it was a big help. My mentor was such a huge support in strategically turning my business around overnight and the business plan made me recognise what was and wasn’t working for me.”

“I have found that SAYES is unique not only in South Australia but Australia as a whole. I have never come across anything quite like it. I am enjoying my involvement and regard it as an honour to mentor and support such dynamic and creative young people.

Emma Hack emmahack.com.au SAYES Participant

Andrew Russo Kennedy and Co SAYES Mentor

I have been involved with a number of not for profit groups over the years but SAYES has by far been the most rewarding.”

Outcomes It is often difficult to measure the impact of a program such as this. How many participants would have succeeded anyway? Did we help to prevent failure in some cases? Did we speed up the path to success for others? The true answer is sure to be a mix of these but we are part of the journey and provide much needed support for that critical first year in business. We can measure the success through collecting success stories, collecting press clippings, collecting testimonials (please see appendix) and these are often the most compelling evidence. However, we also have access to quantitative data such as turnover increases and employment numbers.

Volunteers and partnerships The program could not exist without the high number of volunteer hours that are so generously donated by our mentors and partners. We have over 60 mentors at present as well as a number of strategic partners who provide support to young people. Some mentors have been with the program from the very beginning in 1998. The networking and goodwill in this group is unparalleled. Mentors are energised by the young people (reminds them of when they started out), learn new things from them and enjoy the peer to peer networking with the other mentors. Chamber Membership and profile

The weight of evidence is compelling. Financial outcomes We recently surveyed a group of 60 SAYES graduates and found that they had a combined turnover of $41million. With over 450 participants taking part in the program over the past 15 years the contribution to the local economy has been significant.

Although difficult to measure, other than the young business owners themselves, SAYES is a great influencer in regard to Chamber membership. There is significant publicity surrounding SAYES which reflects well on Business SA and demonstrates to our target market that we are committed to supporting small business in the State. Skilling up for the future

Employment outcomes The recent survey also found that in addition to the business owners themselves, 156 full time and 183 part time positions have been created by those 60 businesses.

SAYES is marketed as a business start-up program to young people. Most people see it as being about the businesses that are created as a result of the program but there is a major underlying mission here. SAYES trains young people to build a business and regardless of the outcome of their current business idea that is of great benefit to the state. We have seen many young people fail at their first business attempt only to build a thriving business at a later date or join an organisation as an employee and utilise those skills for another business.

SAYES Graduates

Worldwide application SAYES is applicable in any part of the world through a Chamber of Commerce. Chamber supplied resources include one staff member to act as project manager and a desk with associated equipment. The project manager is the central hub for the project and is the conduit between the volunteers and young business owners. The project manager must have a passion for small business and be able to relate to a wide range of people. Funding may be available from government as well as corporate sponsors. Sponsors may contribute inkind (eg room hire, catering etc) as well as financially. The core of the program is the database of volunteer mentors, this is where the wealth of experience is sourced for the benefit of young business owners. Mentors can be found in a wide variety of places including Chamber networks, business clubs such as Rotary International, referrals from other mentors etc. We suggest hand picking mentors rather than broadly advertising for applicants in order to maintain the exceptional quality required for a program such as this. Business SA is open to contact by International Chambers that may be interested in setting up a similar program. Supporting young entrepreneurs is a great fit for the Chamber movement. It creates new businesses and in the process up skills the next generation of business leaders.

The 8th World Chambers Congress SAYES will celebrate its 15th year in 2013. Over a long period the program has impacted the lives of young people with the drive and ambition to start their own business. Our success stories are inspiring and will resonate with the Chamber movement worldwide as the reason we all do what we do. We are here to lobby for a positive business environment and to provide the support services that allow businesses to grow and contribute to the economy. What better way to support the business ecosystem than to create new and innovative businesses run by the next generation of business leaders! A finals place at the 8th World Chambers Congress would be great recognition for Business SA, but more so for the vast number of volunteers from the business community who have contributed thousands of hours over the past 15 years. Their efforts have provided the next generation of business leaders with a flying start.

APPENDIx Contents: - A small selection of media mentions - Letters of support

Why SAYES is so good and worth every cent and minute spent Posted by Grace Love on July 15, 2011 at 15:38 in General Discussion and Feedback Hi there, I just wanted to express my feelings about SAYES and how it impacted both my life and business and what was, in my opinion, the best about SAYES (so far). The workshops were good (gaining new knowledge in various business areas), they were mainly focused on a particular subject in general (and there were some Q&A afterwards in most cases). I believe a participant would take as much out of the workshop as much they are interested in the subject and keen on learning new stuff. So my advice is - get excited, open and become a sponge to absorb the knowledge shared. However, to me personally, the best part of all was the Business Plan Feedback Night, as it was directly related to my business and to me as a business owner. It showed me what I did not see from other people’s perspective and I find it extremely powerful - the feedback being a powerful tool for a participant to use to shift a mind and go to another level with their business. This is what happened to me and although the feedback was slightly rough (read: honest and true) it challenged me and showed me what I (as a business owner) did to my business, unconsciously, how I created the culture that my staff work in. This was a shifting point for me and my business. My next staff meeting was so different from all other meetings and the results were different, too. This is what someone wise said - you can have excuses and results, but you cannot have both. I am glad I remember that and this is so true - as I getting results NOW! I changed the way I see my staff, I changed the way I see myself as their coach rather than a boss, too. We are now brainstorming together and finding solutions to problems or I challenge them to seek solutions. Yesterday, my staff volunteered for the first time to do something for the business and I did not even ask them to do it! It was their idea. I could not believe it and it is an amazing feeling when others start seeing our cafe as a place where they want to be, spend time at and contribute towards its further development. I would like to thank Sheriden Walshe, my year-round mentor, who gave me so many ideas on how to improve my business, Gary Hancock and Duncan Redman for their wonderful and powerful feedback on the night and special thanks to Dan Smith who has always been there for me whenever I needed assistance. Thank you again and I hope the program will last for a long time attracting hungry young entrepreneurs, like myself! Grace Bliss Organic Cafe 7 Compton Street Adelaide, South Australia

letter of Support To whom it may concern: I enrolled in the SAYES program in June of 2011 and have found the information and training to be invaluable in my own professional development and the development of my small business over the past year. The seminars were up to date, relevant, insightful and inspiring and have assisted me in my conceptualization of new ideas, best business practices and improvements that were directly relevant to my business. The seminars and forum invitations have provided me with terrific networking opportunities and enabled me to move forward through peer support and learning from other entrepreneurs. Daniel Smith, the SAYES coordinator has been most professional and helpful and was able to assist me in my endeavour to find an inspirational mentor and provide me with great solutions for some of my business problems. My mentor Mike Chalmers has given me an amazing amount of confidence and know how in establishing my small business. His input has contributed greatly to the growth that my business is experiencing. The program has filled in gaps in my knowledge and provided me with the motivation and confidence to move forward in my small business. I often meet with other entrepreneurs and they have expressed their desire to learn and develop their business in a similar way. I would highly recommend the Business SA SAYES program to any other young entrepreneur who is interested in professional and best practice solutions to their start ups. I am very grateful for the assistance and I am very keen to be involved in Business SA activities in to the future. Yours sincerely David Oliver Director Dedaz Dedaz Music Tuition P.O Box 16, Rundle Mall, Adelaide, South Australia 5000 Tel: 0428 183 033 Email: [email protected]

Emails of Support Geoffrey Kwitko – SAYES Graduate My experience in the program I can confidently say that SAYES is exactly what up and coming business owners need to accelerate their success. It’s the perfect mix of practical real world training, networking, structure, freedom, encouragement, mentorship, friendly competition….. and I could go on! I fully endorse SAYES and feel it was a big part of me growing from a single person freelance consultant to a leader of a team of 12 part time staff. Geoff Kwitko [email protected] StartupClub.com.au Emma Thomson – SAYES Participant I am soon to be completing the SAYES program and have found it to be immensely beneficial. Before starting SAYES I had a business idea and had made a rough start, however once beginning the program I became aware of so many of the various elements that must be addressed in order to set up a successful business. A particular example of this was when I was looking into Trademarking and intellectual property. I had chosen a name for my business and was trading under this, for quite some time, and it wasn’t until we covered this module in SAYES that I even became aware that I had to Trademark my business name. After much deliberation and meeting with Trademark lawyers I decided to change my business name to my personal name. If I didn’t have the support and networks that SAYES provides us with I would not have been able to have initial complimentary meetings with Trademark attorneys and would have been faced with hefty fees and often refusal for an initial consultation. Each monthly workshop covers a different module regarding the various aspects of running your business and these are lectured my professionals in that particular field. They provide invaluable information that can help students kick start their business. Thanks, Emma [email protected] Emily Smith – SAYES Participant I found SAYES was such a great opportunity to get a well-rounded view of what I needed to do to start up and run my own small business. Without it, I’m sure I would still have started up, but it would have taken much longer, been more stressful and I can’t guarantee I would still be up and running or enjoying it. The best part about it was the access to experienced mentors that I could not have gotten anywhere else and also learning how to find more mentors. Thanks SAYES, I strongly support the continuation and growth of the SAYES program. Please do not hesitate to contact me for more clarification or information. Warm regards Emily [email protected]