From an oyster mitt inventor to apparel and health food companies, high school students are proving you are never too young to start a business. The College of Charleston School of Business is hosting the Motley Rice Charleston County Business Plan competition for Charleston County high school students. The competition will be held at the Beatty Center on Monday, May 7 and will feature the winners from last week’s competitions at Wando High School, West Ashley High School, James Island Charter High School, Johns Island High School. The business plan competition is organized by Youth Entrepreneurship South Carolina (YESCarolina), sponsored by local plaintiffs’ law firm Motley Rice LLC. The winner will take home a $1,000 check and will have a spot reserved for him or her at a statewide competition in June.
Students will present original business plans developed as a part of their entrepreneurial studies, which are based on a curriculum created by The Network for Teaching Entrepreneurship (NFTE), a YEScarolina program partner. Their complete business plans must include organizational structure, a target market, competitive analysis, a marketing plan, the economics of one unit, ROS & ROI, financial strategy and a projected income statement.
Local entrepreneurs and other members of the community are serving as volunteer judges and will be providing valuable feedback on the student’s businesses.
“We are thrilled with the drive and creativity these young entrepreneurs demonstrate. For some, entrepreneurship could be the key to breaking the cycle of poverty. Entrepreneurship provides an avenue for financial independence, a benefit to all. These young entrepreneurs are certainly shaping up to be the dynamic business leaders of the future,” said YEScarolina Founder and Executive Director Jimmy Bailey.
“The creativity and innovation of these kids coupled with their ambition to succeed is inspiring. Their ideas serve as the foundation of our future economy and community, and we could not be more proud to support and encourage such admirable entrepreneurial spirit,” said Motley Rice co-founder Ronald Motley.
YEScarolina, 501(c)3 non-profit, is the only organization in the state of South Carolina dedicated to teaching youth the principles of entrepreneurship and free enterprise. Recognizing that South Carolina’s future is dependent upon a vibrant Entrepreneurial Economy, YEScarolina is preparing today’s youth to be tomorrow’s business owners and business leaders.
YEScarolina has helped thousands of young people from communities statewide build business skills and unlock their entrepreneurial creativity. To date, YEScarolina has trained and certified over 550 South Carolina teachers on the subject of entrepreneurship. These educators in turn have touched and inspired thousands of young South Carolinians with a thirst for entrepreneurship. YEScarolina offers entrepreneurship training to public school teachers statewide without charge.
About Motley Rice
Motley Rice is one of the nation’s largest plaintiffs’ litigation firms. Motley Rice attorneys have experience taking on complex civil cases against large corporate wrongdoers, including pioneering asbestos lawsuits and their lawsuit against terrorist financiers on behalf of 9/11 families. Since its founding, the firm has made investing in, supporting and giving back to the communities in which its employees work and live a priority. The firm, which employees more than 65 attorneys and hundreds of staff, is headquartered in Mt. Pleasant, S.C., and has additional offices in California; Connecticut; New York; Rhode Island; Washington, D.C.; and West Virginia.