Transition Times: Do you fancy yourself as an entrepreneur? Transition year is a great time to see how far you can go, writes Gráinne Faller.

When did people become so interested in business? Just look at a television show such as The Apprentice. A sort of Pop Idol for businesspeople, it riveted the US, where millions of people watched as contestants vied for a job with the property tycoon Donald Trump. Now RTÉ is getting a piece of the business-as-entertainment action, with its programme The Mentor, in which experts advise entrepreneurs about their businesses.

Perhaps this interest in enterprise shouldn't surprise us. The economic boom of the past decade has given thousands of people the chance to test their entrepreneurial mettle. The right skills are crucial, however, making education a key factor in the development of entrepreneurship in Ireland. If you know what to look for, after all, you have a better chance of spotting an opportunity to set up a successful business.

One project that is developing such skills is the Get Up and Go mini-company programme, in which transition-year students set up and run a business. Although the businesses are on a small scale, they are real companies, as the students of Our Lady of Mercy secondary school in Beaumont, in north Dublin, are finding out. They haven't been allowed to take any short cuts in setting up their jewellery company, which they have called Bangin' Beads. The students had to apply for positions in the company with letters and CVs. After interviews, the chief executive and human-resources manager were appointed; they then decided the make-up of the executive board.

One of the appointees is Jessica Byrne, Bangin' Beads' finance manager. "We opened a post-office account, and we're getting a credit card for the company," she says. But they can't begin without seed money, of course, and it's up to them to find some. Khadijah Dridi, the company's chief executive, says: "We've raised €120 by selling shares. They were €1 each, and everyone bought five, so that's what we'll start off with."

They are still at the research stage, having sent out surveys to gauge everything from the type of jewellery their fellow students would like to the price they would be willing to pay for it. Each of the managers on the board has a team, and each team takes care of a different area, from production to marketing to sales.

The school's scheme is run by Anne Ryan, who is also the national Get Up and Go co-ordinator. "Towards the end of the year we have trade exhibitions, where the students come and display what they have done," she says. "They may have had different responsibilities in the company, but they all have to understand and explain each part of the process at the exhibition."

The exhibitions have taken off with sponsorship from AIB, which has also allowed the production of a resource manual for teachers. Regional exhibitions are held in March and April, with the winners of those going on to the national final, in May. Participation has rocketed, with more than 200 companies entering last year.

The competitions are a bonus, however; the overall focus is on the process of setting up and running a company. Students are delighted if their business is a success; if there are problems, it is best to regard them as part of a learning curve. Last year the mini company at Our Lady of Mercy made and sold Christmas cards. Although it turned out well, the experience was difficult. Rachel Woods, who was the company's managing director, says: "It's very hard to motivate a team, especially when your friends are involved. You really need a mix of people who will do the work. I think we ended up learning more, but it was very tough."

It's worth remembering that if your company makes a profit, you get to keep the money. The current Leaving Certificate class at Our Lady of Mercy made money in transition year by producing and selling a school yearbook. Each member of the company got a pay packet on graduation day.

Linda Gaffney, who headed the company, says her experience helped her decide to study business management. "I found that it really helped me with my confidence. I'm business prefect now, so I'll be advising this year's class as well."

Whether this year's company will be successful remains to be seen. The girls are optimistic, despite some ructions the day before. They laugh when they recount how Khadijah quit twice as chief executive during the previous day's meeting. "They were all shouting at me, so I just had to walk out," she says.

It's all good natured, but you get the feeling that the girls are going to learn a lot about one another this year. They are currently learning how to make the jewellery and trying to decide on the best way to sell it. Producing a brochure and making pieces to order is a possibility, but it's early days yet.

With teachers' in-service days coming up, this is a prime time to get involved. Anne Ryan says: "We're constantly trying to develop and upgrade the programme. We will have a website ready in October."

The participants are certainly positive about the experience. With the Ernst & Young Entrepreneur of the Year awards being presented tomorrow night, who knows what they might be inspired to achieve in the future?

For more information, visit http://ty.slss.ie/tycss/mini/read.htm. The Get Up and Go trade exhibitions are due to be held at the Vienna Woods Hotel, Cork (Mar 29), Allingham Arms Hotel, Bundoran, Co Donegal (Mar 29), Heritage Hotel, Portlaoise (Mar 30), Haydens Hotel, Ballinasloe, Co Galway (Apr 4) and Spa Hotel, Lucan, Co Dublin (Apr 6). The national final is at the Heritage Hotel, Portlaoise, on May 2

If you're a teacher . . .

Bear these points in mind if you set up a Get Up and Go mini company in your school.

About 40 per cent of the teachers who run the programmes are business teachers. The other 60 per cent teach other subjects but have the commitment and energy that are essential for a successful year.

Programmes can run over the whole year or for just half of it. Two hours a week is recommended for programmes run over the whole school year; three hours a week is recommended for programmes run over the half-year.

You can use other class time, too, if necessary, as long as the project encompasses the lesson in question (an obvious one is business, but art may be relevant, too).

You will need a spacious classroom and a selling outlet, and it is a good idea to keep colleagues updated on developments within the company - a staffroom noticeboard is a good idea.

The remaining Get Up and Go in-service dates are today (Cork and Clare) and tomorrow (Kildare and Donegal)

Just remember . . .

The fifth- and sixth-year students of Our Lady of Mercy secondary school in Beaumont, in north Dublin, have some advice for students involved in this year's mini-company programme.

Choose your teams carefully.

Pick people because you think they will do the job well, not because they're your friends.

If you're using outside services, such as printing or photography, agree a price beforehand - and make sure you get it in writing.

Your business plan is really important, so prepare it carefully.

Do your research. Know your target market: what they want and what they will pay.

Thanks to Jennifer Carberry, Emma McLoughlin, Rachael Byrne, Suzanne Swan, Lisa Hehir, Karen Cosgrove, Leanne Kinsella and Nicol Gaffney