TransitionTimes: It's easy to dream of making a fortune, but how about putting it into practice? Gráinne Faller reports on a scheme that is teaching the skills of entrepreneurship.

The transition-year students at Coláiste Dhúlaigh in Coolock, Dublin, are hard at work. A trip to New York is up for grabs, so the laptops are out and everyone has knuckled down. "It's not normally this quiet," says Kathy Jones, their teacher. "They have a lot to do today."

This week is the culmination of a huge amount of work so far. All of the students in the room are, to varying degrees of success, entrepreneurs. The programme, called Network for Teaching Entrepreneurship (NFTE), was piloted in the school last year with great success, and these student businesses are the fruits of its second year in Coolock. Who knows? One day they may get as far as trying to raise funds from the hardened entrepreneurs on Dragons' Den, the BBC's business challenge.

That said, it took a while to impress the participants. "We had trouble with the business at the start," says Amy Chandler. "We weren't really interested." She wasn't the only one with reservations. Amanda Hayes, whose business making ornamental chocolate trees is doing very well, agrees. "I thought it was going to be very boring when I heard about it first," she says. "But then we started enjoying it," adds Nicola Casey, Amanda's business partner. "It was loads of work, but we didn't really mind."

Following a US model, Network for Teaching Entrepreneurship tailors its curriculum and structure to students from low-income communities. There is a set curriculum with a textbook, teacher training and a business bag with calculators, receipt books and other business resources for students. The programme is free for schools and includes small grants to help students start their businesses, as well as a classroom grant for resources. Established in Ireland by Northside Partnership, the programme is expanding rapidly to both schools and Youthreach centres.

The venture is still going strong in the US, and students and teachers who participate in the Irish scheme automatically get the chance to go forward to the Student of the Year awards in New York each spring. The deadline is approaching at Coláiste Dhúlaigh, and the students are beavering away at the applications, business plans and essays that will qualify them for entry.

Lauren Harte and Amy Chandler have a business called Stars, a low-cost enterprise that makes colourful laminated horoscope cards, which it sells for €2. "It was a lot of work," says Lauren. "We had to research every star sign and make all the cards. It took ages." But the cards have sold well. Before Christmas the students held a trade fair, attended by the US ambassador, James C Kenny. "No one left that fair without a star sign," says Amy. "The teacher told me I could sell sand to the Arabs."

The girls are also preparing for three days selling their wares in Northside Shopping Centre. "We want to create links with the local business community," says Anne Hanley of Network for Teaching Entrepreneurship Ireland. "Northside Shopping Centre has been brilliant in helping us with that."

The success of the programme has prompted some students to think further ahead than this year. One is Mary Collins, who has established some good industry contacts for her jewellery business. "I was nervous ringing the supplier at the start, but he was really nice and gave me a good price. I got the boxes for free as well. I'm fine now about ringing people."

She cleared her stand at the trade fair, and business is still coming in. Being on her own in business has its advantages and disadvantages. "It's hard work by myself. Getting ready for the trade fair was hard, but you get more profit at the end when you're on your own." Having branched into making and selling jewellery, she has big ideas for the future. "I'd love to own my own jewellery shop."

Students have opted for a range of businesses. David Barrett tapped into the craze for pampering pets. "We were going to put names on dog balls at the start, but that was too hard, so we decided to get dog supplies and put them in baskets," he says. The resulting business, Doggy Gifts, has made a profit, so he's happy. "It was a bit of work," he says. "I would do it again, though."

Not all of the businesses sold a product. Some students decided to provide a service. Kyrsty O'Connor and Lynsey Brereton used their firm, Hip Hop DC, to offer hip-hop dance classes to students at the school. There was more to it than they initially thought. "We had to write letters, get permission slips, get the hall and get a teacher to supervise," says Lynsey. "It took ages," adds Kyrsty. "It was about six weeks before we could start the classes."

Like most of their colleagues who were in business partnerships, the girls had their ups and downs. "You'd just get stressed out over little things, stupid things," says Kyrsty. "Like fighting over what moves to do," says Lynsey. They believe, however, that teaming up made life easier overall.

The students generally agree that they have learned a huge amount about how business works. The possibility of a trip to New York is tantalising. The school did extremely well at the awards last year, with two students winning and Kathy Jones, the teacher, being honoured for her efforts.

New York isn't the only prospect for the young entrepreneurs, however. The Irish network's first awards will be held at Dublin City University in May. "It's a definite motivator," says Amy. Everyone is rushing to complete their entries. Emma Hennessy, who read tarot cards as her business, has some advice. "Write the essay as you're doing your project," she says. "Everyone is stressed here, so just do it as you go along."

Having finished their business plans, Sabrina Egan and Danielle Johnson have time to reflect on their jewellery business. "The best part was market day," says Sabrina. "The work was hard, though," adds Danielle. "It got easier as we went along." Melissa Moloney, who is sitting nearby, nods in agreement. "You just need to start early," she says. "It's been great. It's definitely something I'd think of doing after school."

Thanks to Kathy Jones, Olive O'Keeffe, Eamon Boyd, Ita O'Hanlon and Anne Hanley Network for Teaching Entrepreneurship (NFTE) is a rapidly expanding programme. It now operates in six schools and three community programmes.

Getting involved

Although schools do not have to pay to take part, they must agree to certain rules before becoming part of the network.

For more details, contact Anne Hanley on 01-7007439 or Anne.Hanley@nfte.dcu.ie or Bernie Murphy at bernie.murphy@nfte.dcu.ie