2010 NSBP Competition

2010 National Student Business Plan Competition

(News from the Pharmacy Guild of Australia)

2010 National Student Business Plan Competition

The fourth National Student Business Plan Competition is now underway – testing the flair and entrepreneurship of students preparing for a career in community pharmacy.

The competition is an opportunity for students to demonstrate their understanding of pharmacy practice through innovative and financially secure business models.

This year’s contest was launched over the weekend at the National Australian Pharmacy Students Association (NAPSA) Congress at the Gold Coast. The launch was attended by Will Franks, a member of the James Cook University team which was the runner-up in last year’s competition.

“The student pharmacy business plan competition is a fabulous way to gain an insight into the many aspects of pharmacy ownership and management,” Mr Franks said. “It provides an excellent medium for students to get their ideas about ownership and potential innovations in pharmacy practice and services heard by the profession.”

The competition involves small groups of students submitting a business plan for the establishment or purchase of a pharmacy. It aims to encourage pharmacy students to consider how they would go about structuring their own pharmacy business, and produce a business plan.

The National President of the Pharmacy Guild of Australia, Kos Sclavos, said: “Good businesses don’t just happen – they require planning, insight and hard work. Students are the future of the profession, so their ideas and their enthusiasm should be fostered.”

The 2010 competition is open to all pharmacy schools in Australia, with $15,000 in cash and prizes for participating students and their schools. As part of their prize, the top three entries will present their business plans live on-stage at the Pharmacy Women’s Congress in Hobart in August.

The National Student Business Plan Competition is organised by the Guild, and sponsored by Pharmacy Defence Limited (PDL) and Gold Cross Products and Services.