A group of Cobar High School Year 9 and 10 commerce students pitched some great business ideas this week to a panel made up of teachers and local business people.
The students are currently taking part in the National Australia Bank’s $20 Boss in-school challenge with the NAB providing each participating student with $20 of start up capital to create their own business.
Their teacher Samantha Dixon, said it’s proved to be a fantastic program that’s been shown to encourage entrepreneurial spirit.
“The $20 Boss program is a unique and fully immersive experience that allows students to create a real world business while building important skills.
“Young people should be inspired to consider self employment and other entrepreneurial career choices,” Ms Dixon said.
She enlisted the help of the Cobar Business Association to help mentor the students with president Sharon Harland along with Chris Lehmann from Landmark Russell joining the $20 Boss ‘Yabby Tank’ panel at the school on Monday.
“The Yabby Tank, as the kids have nicknamed it, was run a bit like the TV show, the Shark Tank,” Ms Dixon said.
“At the Yabby Tank the students presented their ideas to the panel and got some advice before they start trading.
“We’ve also asked the business association members to come to the school during their month of trading and help mentor the students in their businesses including giving them some suggestions on marketing and branding their business.”
At the end of the program, students are encouraged to pay back the start-up money, along with a $1 legacy payment.
Ms Dixon said 50 per cent of any profits that the students make over $21 will be donated to charity (including the school’s Batyr program) and they are free to pocket the rest.