Some of the state's leading teenage executives gathered in Dublin yesterday to discuss the challenges of maintaining profits, pleasing your shareholders and having your homework done for class the next day.
The occasion was the National Final of the Young Entrepreneurs Scheme, an annual competition for groups of secondary school pupils from around the country who set up and run a business under the supervision of their school.
Over 7,000 students representing almost 300 schools participated in this year's scheme and the most ambitious of the aspiring moguls erected stands explaining their business idea in UCD under the gaze of the Tanaiste, Ms Harney, and a large number of highly motivated parents and teachers.
The teenage entrants comfortably talked about increasing margins, liquidity and re-investment ratios, while their teachers stood alongside beaming. While a large number of the participants are 16 or under, the profits from the businesses they set up under the scheme would make some adults beam.
One of the winners, Tour Web Internet Design, which involves four pupils from CBS Tramore designing web sites for corporate clients, has so far made £3,100 in pre-tax profits, with further growth expected.
The modestly titled sales manager, Mr David Power, and head of design, Mr Ken Smith, pointed out that the company's clientele includes international giants like Microsoft and more local enterprises like the Granville Hotel in Waterford city.
The overall winners, United Enterprises, from Royal and Prior Comprehensive School in Raphoe, Co Donegal, showed off the enamelled candlesticks they produce and said they adopted the handshake as their company logo to represent their dealings with customers and suppliers.
Pupils from another school, the Convent of Mercy, Roscommon, run a business involving painting the windows of local shops which has generated £1,000 so far, said transition year student and official company public relations officer Ms Sinead Carthy.
The girls call their company Pane in the Art and expect it to continue over the next few years, once they can avoid being acquired by a larger rival.
The Abbey Vocational School from Donegal presented their school newspaper, the Abbey Times, with its rising circulation of 250 avid readers. "We have had a few complaints from sports people in the school but we will press on publishing," said Ms Catherine O'Doherty, one of the editors.
From Mount Anville school in south Dublin were three female pupils with their business, Go Go Logo, which involves designing the school's sports bag and other gear. "We have made a profit of £212 so far and we see other possibilities in the future," Ms Lynne Andrews, one of the pupils, confidently asserted.
There were three categories of winners who received prizes from the Tanaiste. In the senior category the first place prize went to United Enterprises from the Royal and Prior Comprehensive School in Raphoe, Co Donegal. Second prize went to Adhmad from Castlecomer Community School, Co Kilkenny. The third prize went to Wax Wonder, from the Scoil Mhuire, Co Longford.
In the Intermediate section the overall winners were Tour Web Internet Design from CBS Tramore, Co Waterford. The second prize went to Party People from Muckross Park College, Co Dublin, with the third prize awarded to Pro-Selecto from the Vocational School in Kildysart, Co Clare.
In the Junior Section the winners were River Rushwork from Salerno Secondary School, Co Galway, in second place were the Printing Company by Niamh & Jo from Loreto Abbey, Dalkey, Co Dublin, and in third was Bush & Bramble from Heywood Community School, Ballinakill, Co Laois.
