Junior Chamber International (Malta) has launched the fourth edition of the Best Business Plan competition. With the title “Explore, Generate, Innovate”, JCI Malta is once again creating this opportunity for young aspiring entrepreneurs to come up with an innovative commercial idea and to present their ideas in a business plan that will be submitted to a panel of judges composed of some of Malta’s business leaders.

This year’s edition of the Best Business Plan competition, which is being sponsored for the fourth consecutive year by HSBC Bank Malta and KPMG, was launched at HSBC’s Head Office in Valletta, in the presence of Minister for Communications and Competitiveness Censu Galea.

Karl Farrugia Wismayer, JCI Malta president, announced that applications for the 2005 Best Business Plan competition are now officially open. Anyone, aged from 18 to 40, who wishes to take part, can download a free support pack from the JCI Malta website at www.jci.org.mt/BBP.

Further information can also be obtained from the 2005 BBP Competition Project Team members Annabelle Scicluna and Jennifer Attard Pullicino by e-mail to [email protected] or by telephone on 9942 2591 / 9940 3149 or 9927 8830

“HSBC has supported the Best Business Plan competition from the outset. The bank has a deep commitment to support young Maltese entrepreneurs to develop their skills and this is demonstrated by our support for a number of initiatives which encourage young people to be creative and innovative in business. The past three editions of JCI Malta’s Best Business Plan competition have brought forward some exciting ideas and HSBC is particularly pleased to note that some of those who have taken part have actually put their plans into action. I am sure that this year, we will see another selection of top quality business plans from the participants,” said HSBC’s Head of Commercial Banking, James Dunbar Cousin.

This year’s winner of the JCI Malta Best Business Plan competition will be awarded a prize of Lm1,000, with the first runner up collecting a cash prize of Lm250. The winner will also automatically participate in JCI’s International Best Business Plan Competition with the possibility of winning a US$5000 cash award in order to help set up the business, as well as an all expenses paid trip to the 60th JCI World Congress to be held in Vienna, Austria.

“Our ability to compete in the modern global economy is dependent, more than anything else, on our ability to be creative and innovative. To move forward, Malta’s entrepreneurs must find new markets and industries in which to operate. Young Maltese have always shown that they have the ability to adapt to changing situations and to be innovative in their solutions. The government is committed to encouraging an entrepreneurial spirit in order to guarantee our future prosperity. JCI’s Best Business Plan competition is an ideal platform for those aged between 18 and 40 to put forward their ideas and to test them with some of Malta’s leading business people and I would encourage everyone who has an idea to participate,” said Mr Galea.

“KPMG is supporting JCI Malta’s Best Business Plan competition as this now established event is a launch pad for young people to start up their own businesses and we look forward to our continuing work with Junior Chamber in its efforts to encourage young people to enter the business world,” said KPMG’s Senior Partner, Joseph Schembri.

Junior Chamber Malta is affiliated to Junior Chamber International (JCI), a worldwide federation of young leaders and entrepreneurs aged between 18 and 40, that believes in the advancement of the global community and the creation of positive change. The federation has over 200,000 active members world-wide and millions of alumni participating in projects and events. JCI is present in more than 6,000 communities located in over 100 countries around the world.

Members meet at local, national, and international events to exchange ideas and share best practices, to network and to organise projects and related activities in accordance with JCI’s strategies in four key “Areas of Opportunity”, namely Business, Individual, Community, and International Development.