Students learn the risks and rewards of starting a business
CedarBridge Academy and Berkeley students were given the opportunity to develop and hone their entrepreneur skills as they participated in a Setting Up and Running a School Store workshopat the Bermuda Small Business Development Corporation (BSBDC) yesterday.
The BSBDC, which is located on Church Street, was established to assist local entrepreneurs with setting up and running small businesses.
The all-day workshop included presentations from Foreign Cargo manager Craig Cannonier and Doris Brooks, owner of Double Dip Express. Each gave their accounts of what it takes to run a business and emphasised key points which have led to their companies' success.
One of the aims of the workshop was to provide the senior school students with the knowledge, tools, and resources to successfully start and run their own school stores.
"We want to foster student entrepreneurship in both schools," said BSBDC general manager Neville Grant when asked what inspired the inception of the workshop. "And students said they wanted to do things in a group environment."
Over a year ago, CedarBridge Academy opened Big Time Variety. Students at Berkeley intend to open a similar venture in the near future.
And according to Big Time chief executive officer Janaya Raynor, sales have been booming.
"Our second year has been good," Ms. Raynor said. "With the addition of extra students, products are flying off the shelves."
Ms Raynor credits lessons she learnt from the BSBDC for the formulation of success.
"Stay on top of things and always follow up. In the shop (Big Time) and in life," she said.
While they said they were enjoying the workshop, Berkeley students Crystal DeSilva and Chloe Lambert, both members of the Future Business Leaders of Bermuda, said they both thought about owning their business - until they realised the high potential for stress.
"I think it's too much pressure. Too much,"said Ms DeSilva, who wants to become an accountant.
"I know it's better to work for yourself than someone else, but owning your own business seems too much of a risk," said Ms Lambert.