Do you have what it takes to be an Entrepreneur of the Year. Colm Ward meets up with one

The story of how Richard Branson began doing business from a public telephone booth is legendary. He has gone on to become one of the richest people in Britain and a role model for those who dream of starting their own business.

For many, Mr Branson epitomises the idea of a entrepreneur. Whether it is magazines or record chains, airlines or railways, he is always on the lookout for new opportunities.

Not all entrepreneurs are as flamboyant. Most are ordinary people with a good idea and the enthusiasm and determination to build a successful business from it.

Mr Martin McVicar was 26 when he set up his company, Combilift, to make and sell a forklift he designed. That was five years ago. The company now sells to 36 countries all over the world. Two years ago, Mr McVicar was awarded the Ernst & Young Entrepreneur of the Year award for his achievement. Although complex in its design, the idea for the Combilift was simple. At the time, there were two types of forklift truck - a standard forklift for lifting palettes and a sideloader for lifting longer items, such as lengths of timber. This meant that any business that needed to do both had to buy two machines. Mr McVicar's idea was to combine the two functions in one forklift.

He had been working with Moffett Engineering when it was taken over by multinational rival Powerscreen. Not wanting to be "just a number" in a big company, he left and, together with Mr Robert Moffett, founded Combilift in 1998.

The design proved to be a success and soon the company was exporting to several European countries, including Norway and France. It now has a network of 65 dealers internationally and turnover is growing every year.

This focus on the export market, he believes, was integral to the success of the enterprise. Because of its small population, Ireland offers limited opportunities for the sale of specialised items, such as the Combilift. By taking advantage of e-commerce, which enables customers to source items from anywhere in the world, the company was able to market its product internationally.

Mr McVicar believes that a positive approach and perseverance are essential for any aspiring entrepreneur. "I think the one thing is that you need to maintain a can-do attitude - everything is possible if you work hard at it."

Being an entrepreneur is a process of continuous self-development, he says.

For those who, like himself, come from an engineering background, there is no point developing a good product unless they can also go out and create a market for it. Every day brings a different challenge and the ability to rise to these various challenges is often the difference between success and failure.

A motivated and experienced workforce is also important and, in the long term, it pays to hire experienced people. Rewarding employees for their performance encourages them to be more productive and to take more responsibility for their work.

Winning the Entrepreneur of the Year award "adds credibility" to the company, which helps in retaining staff who are happier to work in a progressive company, says Mr McVicar.

The awards, which are in their sixth year in Ireland, were created to acknowledge people who are seen to exemplify the entrepreneurial spirit.

Previous winners include Eddie Jordan, Denis O'Brien, Moya Doherty and John McColgan, creators of Riverdance, and Padraig O'Ceidigh of Aer Arann Express.

Mr Enda Kelly, Ernst & Young partner in charge of the competition, says nominations for this year's awards are being accepted and a shortlist will be published in May. The overall winner, who will go on to represent Ireland in the international competition, will be announced in September.

There are many sources of inspiration for people who want to set up their own business. They might see a gap in the market for a product or service or develop a new product to solve a specific problem.

But one of the most common sources of inspiration is change - a change in laws and regulations or a change in social patterns. One thing is for certain: wherever there is an opportunity, there will be an entrepreneur ready to take advantage of it.

This is reflected in the entries that have been received for this year's award. As environmental issues such as waste management become increasingly important, a number of this year's entrepreneurs are offering various services in this sector, says Mr Kelly. Other popular sectors include biotechnology and medical devices.

An ability to respond quickly to a market need is one of the characteristics of a successful entrepreneur.

Although the entrants to the competition come from a wide range of backgrounds, he believes they have certain traits in common, such as a sense of integrity, excellent leadership qualities, the ability to bounce back after a setback and a very high level of innovation. It is typical too for an entrepreneur to take a very simple approach to business, even though it might seem to the layman to be very complicated. Mr Kelly describes them as "big picture people".

"What we see as complex, they see as simple and then they will actually go and do it," he explains.

The Business 2000 column provides information for business studies teachers and students on the current business climate.

It is intended to complement The Irish Times Business 2000 multimedia resource package developed by Woodgrange Technologies, which is sent to all second-level schools and selected third-level institutions.

Business 2000 is published every Friday in the Business This Week supplement. The teachers' support desk at Woodgrange Technologies can be reached at 01-4352514 or by e-mail at: business2000@woodgrange.com.

Companies participating in Business 2000 are: the Irish League of Credit Unions, Bord Fáilte, Enterprise Ireland, Coca-Cola Ireland Ltd, Dell Ireland, Musgraves, the Pensions Board, NTR, AIB, Guinness UDV, Masterfoods Ireland Ltd, Health & Safety Authority, the Office of the Revenue Commissioners, Bus Éireann, Danone, the National Centre for Partnership and Performance, CRH, Department of Health, InterTradeIreland, Beiersdorf, the Department of Finance, the National Development Plan, Cadburys Ireland, the Irish Sports Council, GlaxoSmithKline, USIT and the Food Safety Promotion Board.