FROM AVERAGE STUDENT TO THRIVING ENTREPRENEUR

Wednesday June 8, 2005 How one ITE graduate found hope amid the economic gloom

Chow Penn Nee pennnee@newstoday.com.sg

WHEN Ms Rachel Howe graduated in June 2001, the lacklustre global economyhad barely recovered from the dotcom bust, when it was plunged into gloomby the Sept 11 terrorist attacks in the United States a few months later.What Ms Howe, who graduated from Institute of Technical Education (ITE)Bishan that year amid an employment slump, did then is an inspiration toall budding entrepreneurs.Armed with little more than well-intentioned prodding from her principal,Ms Howe started upon the unknown, but in territory that was familiar toher. She started an Internet cafe in her alma mater's campus at EastMacpherson.Four years on - and one award later - Ms Howe said that her I-Net Cafe wasa gruelling lesson in entrepreneurship for her, but a rewarding one noless."I never thought that I would set up a business," she said."As a fresh graduate lacking in work experience, I had problems handlingthe accounting specifics of the business," said the 27 year old.Fortunately, help came from ITE Technopreneurship Incubation Centre (TIC),which mentors and guides young business start-ups among graduates, staffand students, by providing physical facility support, technology expertiseand dispensing advice.There was, of course, the business opportunity right at her doorstep.From her own experience, she knew that ITE students had few options whenit came to food at school, and that they would like the idea of hangingout at a trendy cafe which serves fast and affordable food such asburgers, chicken wings and cappuccino.The ready pool of clientele-students was a plus, as well as her own
So together with three partners and a total start-up capital of $30,000,Ms Howe started her Internet cafe, which turned profitable in 2003.Currently, the cafe - which has six terminals for free Internet surfing -rakes in about $600 daily in food and beverage revenues, with profitaveraging about $1,000 per month.Such success helped Ms Howe to pick up an award in 2003, when shereceived a merit award by Shell LiveWIRE. (See story on next page).The ITE graduate in business studies has since managed to get past herinsecurities over her academic performance.She used to think she was a "failure because I didn\'t do so well in mystudies", she confided.But the one-woman show has turned so successful that she can now afford tohire help. A few months ago, she roped in a friend and a student to helpher out with the operations of the cafe.That freed some time for Ms Howe to start another business in July lastyear. Her new baby, an events management company, already counts a foreignbank as its customer. "Running a business is not like working for someone and getting stuck ina dull routine", she said of her business experience. "Every day isdifferent."Ms Howe\'s next stop: Setting up similar cafes in other ITE campuses, suchas the new campus in Simei, and to replicate the business into a chain ofcafes outside of school. "Sometimes I do think about working for someone else, but there areabsolutely no regrets in running my own business. The experience you getfrom trying out your own thing and not being accountable to anyone is verysatisfying."); part-time working experience as a barista at Starbucks.So together with three partners and a total start-up capital of $30,000,Ms Howe started her Internet cafe, which turned profitable in 2003.Currently, the cafe - which has six terminals for free Internet surfing -rakes in about $600 daily in food and beverage revenues, with profitaveraging about $1,000 per month.Such success helped Ms Howe to pick up an award in 2003, when shereceived a merit award by Shell LiveWIRE.

The ITE graduate in business studies has since managed to get past herinsecurities over her academic performance.She used to think she was a "failure because I didn't do so well in mystudies", she confided.But the one-woman show has turned so successful that she can now afford tohire help. A few months ago, she roped in a friend and a student to helpher out with the operations of the cafe.That freed some time for Ms Howe to start another business in July last year.

Her new baby, an events management company, already counts a foreignbank as its customer. "Running a business is not like working for someone and getting stuck ina dull routine", she said of her business experience. "Every day is different."Ms Howe's next stop: Setting up similar cafes in other ITE campuses, suchas the new campus in Simei, and to replicate the business into a chain ofcafes outside of school. "Sometimes I do think about working for someone else, but there areabsolutely no regrets in running my own business. The experience you getfrom trying out your own thing and not being accountable to anyone is very satisfying."

Shell Live WIRE Young Business Start-Up award