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Runners up to first place were "Senior House," which will export pre-fabricated houses for European senior citizens, "Experience Tours," which will arrange hands-on "agrotourism" for Latvians and tourists, "Surf Yoga," which will provide training in a fast-growing segment of the fitness market, and "Just Music," which provide legal, copyrighted music playlists to Latvian businesses.The "Kids Taxi" team is made up of Laura Klinstone, Reinis Rezais, Jevgenija Danevska and Jevgenijs Kacs.
The resulting business plan competition generated a wide range of interesting business ideas.
Judges had difficulty deciding on a second place winner.
Just over a third (35%) of all firms reported an increase in the total volume of business during Q2/18, and that 29% reported a fall – this balance of 7% is up six points since the previous quarter.
However, only a quarter of firms with fewer than 10 employees reported an increase in the total volume of business, compared to more than 60% of firms with more than 100 employees – see Chart 1.
Encouragingly a net balance of 8% of firms anticipate a rise through the remainder of 2018.
Similar to the trends outlined above we see that smallest firms reported net declines in repeat business while those with more than 20 employees, on balance, reported net increases.The act of writing down what you want to do, and how you intend to do it, is a key starting point to achieving your business goals.We set out key measures and have consistently reported on our progress against these over the course of the five year plan.A shuttle service designed especially to transport children from school to sports centers and back was the winner of a business plan competition held at Riga Business School.Called "Kids Taxi," the company will provide a safe, affordable and organized way for parents to arrange the transport of their children to and from after-school activities."I think Kids Taxi will be well-appreciated by hard working parents," said Ilmars Osmanis, CEO of Hansa Matrix, who was one the judges of the competition.The results support our latest Economic Commentary forecasts of cautious optimism in Scotland’s growth prospects for this year.Overall, they suggest that the Scottish economy will pick up through 2018 recording faster growth than 2017, though growth is anticipated to remain below trend."We invite as many Latvian entrepreneurs to guest lecture in the course as we can," Wells says."Not only those with years of experience, but people in all phases of entrepreneurship, from those who have sold their companies to those who have only recently launched startups." This summer, in addition to the four competition judges, guest lecturers included Janis Bergs (FMS Group), Andrejs Klavins (Next Level), Guntis Miculs (Freibos), Ieva Plaude-Roehlinger (Kolonna Cosmetics) and Kristine Potipovica (Potipovica un Andersone).Only one in ten firms with 11-20 employees, and only two in ten firms with 1-10 employees reported an increase investment plans.Firms with more than 20 employees, on the other hand were slightly more willing to revise investment plans upwards with a net of 9% of firms with 21-99 workers and 17% of firms with more than 100 respectively recording a rise in investment plans.