| Young Western Isles Entrepreneurs Pick Up Top Business Award
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09 October 2003 |
| Two Western Isles entrepreneurs, on Monday 6 October, walked away with a top business award and cash boost of £500. Richard Davies & Gillian Dykes of Stornoway-based Wild West Foods UK, beat off the business talents of the Western Isles best young start-ups to win the regional final of the Prince's Scottish Youth Business Trust (PSYBT)/The Royal Bank of Scotland Business Awards. The partners set-up the business part-time in January 2002 and went full-time five months later with funding and support from PSYBT, which provides seedcorn finance and professional support to 18-25 year olds (30 in the Western Isles) who want to start their own businesses. Richard and Gillian were looking for a new business opportunity and following a trip to the US, spotted a gap in the market for importing the popular American beefsteak snack, Beef Jerky, to the UK. The product range, which has now doubled since year one, is imported from both Uruguay and Argentina, and features a variety of different styles all marketed through their website and available to purchase online. They have built up a strong client base to both the domestic and commercial market, selling to a range of delicatessens across the UK, and have plans to purchase new machinery with a move to larger premises, allowing them to automate and speed up their packaging process. A panel of judges from the local business community assessed the finalists on the sustainability of the business, future prospects, their technical or business skills and personal attributes. The ceremony, which took place at Lews Castle College Conference Centre was attended and supported by The Royal Bank of Scotland Area Business Relationship Manager, Sandy Howie who presented Richard and Gillian with a cheque for £500. They will now be in line to represent the Western Isles at the national finals in Glasgow in November 2003. Six of the 18 regional winners will be selected to compete for the coveted national title of ‘PSYBT/Royal Bank of Scotland Young Entrepreneur of the Year’ and the opportunity to scoop another £1,500. Runner-up in the regional heat is Simon Dunne of Sound Tracks, who set-up his PSYBT supported business in April 2002. Following completion of an HNC in Music Business in North Glasgow College, Simon returned to Lewis to set-up an independent record store in Stornoway. Sound Tracks stocks a wide range of goods including cds - both new and second hand, tapes, videos, DVDS, T-shirts, sweatshirts, posters, badges and CD accessories. Simon is a keen musician, plays in a local band and helps to promote local and mainland bands playing on the island, most recently for The Proclaimers tour of Lewis. Comhairle Convener, Alexander Macdonald presented Simon with the runner-up prize of £250, kindly donated by Comhairle nan Eilean Siar. Sandy Howie, The Royal Bank of Scotland Area Business Relationship Manager, said: "Richard and Gillian have put a great deal of energy, enterprise, and innovation into their business and are deserving winners. However, congratulations must go to all those shortlisted. As a major bank in the area we continue to be encouraged by the vibrant young business scene here." "Everyone at these business awards have demonstrated true determination and initiative to start their own ventures and we should applaud all of our finalists. We will now be rooting for our local winners to be selected for the national finals in November.” said, PSYBT Regional Manager, Jane Campbell.
For further information contact Jane Campbell, PSYBT Regional Manager, on Tel no. 01851 707 475 or Margaret Gibson at PSYBT head office on Tel no. 0141 248 4999. Visit the PSYBT WEBSITE at www.psybt.org.uk The PSYBT was launched by HRH The Prince Charles, Duke of Rothesay, in 1989. During the past fourteen years, PSYBT has helped 6,084 businesses and 7,255 young people start up across 18 regions in Scotland. The Trust has particular concern for the disadvantaged. Of those started, 80% have traded beyond one year and 54% beyond three years. The average year of a PSYBT recipient is 23 and 39% of all new business starts are run by women. Nearly 80% were unemployed before receiving PSYBT support and 16% left school without any formal academic qualifications. A first year average turnover per business is £23k and £56k by year three. Turnover of all businesses exceeds £80 million. The Royal Bank of Scotland is the leading bank for small businesses in Scotland. For new and developing businesses sound financial advice, guidance and encouragement are all essential. With dedicated Relationship Managers based at branches throughout Scotland, the Royal Bank provides this support as well as offering good value and high quality service.
Nigel Scott Tel: 01851 709389 (Work) |
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