ENTER THE DEN IS BACK

Enter the Den is a business plan competition for Thunder Bay students. It is a gentler version of the TV show format with practical and encouraging feedback provided to all semi-finalists and finalists.

- The competition is back and with a new category to include students in Grades 7 & 8 along with grade 9-12 students.

3 prizes for each grade category (Gr 7 & 8 and Gr 9-12)

1st place $1000, 2nd place $500 & 3rd Place $250

The three cash prizes for each category will go to students with good business ideas that have been well researched, well presented, and well defended. Both written and verbal presentations will be required, and we expect that the students follow the format of a business plan in developing their business idea. This contest offers encouragement and supports students along the way. Several resources and supports will be available to assist students moving forward in the competition. This includes tips on writing the business plan, marketing do's and don'ts, presentation skills and more.

Students do not have to start a business - the goal of the competition is to teach students about what is involved in starting a business and to recognize that starting a business can be a career choice.

For more information please contact: the Thunder Bay Ventures office Entrepreneurship Education

A variety of careers involve aspects of businesses practices. Whether you are a doctor, mechanic or hairdresser, proper knowledge of business practices is key for success. Courses in business studies help prepare students for diverse areas of business as professional careers but also provides practical use that students can use in everyday life regardless of their career. Students learn about different business operations and practices but also learn more about personal skill which includes management, interpersonal skills, and career development. Learning about business allows students to be introduced to a wide range of different opportunities. Introducing them to several businesses will allow them to choose the one best suited to their personal interests and traits.

Benefits of Entrepreneurship Students will be able to:

· realize the importance of invention, creativity, imagination, collaboration, and innovation in entrepreneurship

· demonstrate an understanding of income and spending challenges facing individuals and businesses

· demonstrate an understanding of sound management practices in business · demonstrate an understanding of the importance and role of marketing in business · demonstrate an understanding of the importance and role of accounting in business

· analyze the importance of planning for the success of an organization

· demonstrate an understanding of appropriate planning tools and techniques in a variety of situations

· determine, organize, and manage the information and sources of information needed for the successful start-up of their venture · determine the financial requirements and sources of financing for their venture · analyze the challenges and opportunities of the start-up phase of a business life cycle · identify and evaluate entrepreneurial opportunities in their community to select one well suited to their interests and capabilities

· generate ideas that match their selected entrepreneurial opportunity and assess the idea that is most appropriate for a new venture

· prepare for other future career options · build public speaking skill and self confidence

· build crucial life skills for future employment

· anticipate and identify problems that may arise

· come up with creative solutions to problems