I am very pleased to be here at this, the 5th Young Business Writer of the Year ceremony. I know it was not an easy task to read and adjudicate on the 350 projects and essays which this very interesting and creative competition attracted. May I start by sincerely congratulating the Bank of Ireland, the Irish Times, Dublin City University and the Business Studies Teachers Association of Ireland on their collective innovation and wisdom in continuing this very important event.

I know that the sponsors and adjudicators were impressed with the high standard achieved in your entries and that this has made the final selection process all the more difficult. Of course, it also reinforces my view that as a country, our long association with writing, communication and literature continues to flourish. Indeed, from the standard of the entries in this year's competition, I think that I can confidently look forward to reading articles by-lined by some of today's winners in the national press - and, indeed, being interviewed by some of you - in the near future.

The format of this year's competition is similar to that of last year's, but with one exception. This year, there is an additional category for junior second-level students. This is a welcome addition, as it provides an excellent opportunity and incentive for younger students to test their business writing skills on a very worthwhile range of topics.

In our world today, seemingly straightforward ideas associated with business, economics and society can often be complex and difficult to present in a clear, understandable and readable way. Too often, the plain facts are obscured behind a fog of technical terms or jargon, and as a result, the message is lost to many.

The titles of the subjects offered to the entrants in this competition, however, were very clear and straightforward. I was struck by two topics on which entrants were invited to write. One was "Is the "Knowledge Economy" Really a Revolutionary Concept?" and the other, "Are Ethics Something that Businesses Worry About Only When They Are Caught?". While these topics can have their witty and lighter aspects, their full consideration can bring together complex social, legal and moral issues. Communicating these concepts accurately and perceptively - and in an interesting and readable way - is an important skill for anyone who wishes to make a career in journalism or, indeed, in many other professions as well. Your presence here today is testimony to your skills with the essentials of language and communication.

The concise, well argued essays which covered the various topical issues reflect the hard work undertaken by the Business Studies Teachers Association, not only in helping to shape a modern business curriculum for both junior and senior certificate programmes, but also in fostering a questioning and entrepreneurial spirit in our schools. Their programme of placing business studies teachers with employers in association with IBEC is an example of innovation in education. After their placement in IBEC member firms, teachers bring back to the classroom a range of experiences which enable students to better understand business reality. In many ways this can be very different from the understanding gained from normal textbook study. Nurturing entrepreneurial skills in our schools and colleges such as DCU is not just an aspiration.

It is an important element in educational development, helping to recognise and develop the potential of people to become entrepreneurs, setting up businesses and creating employment. A practical, "hands-on" approach in teaching specific business knowledge and skills is one which is widely accepted. It can provide an important balance against the academic element in many courses, and is useful in preparing students for the world of work, seeking employment, and developing businesses.

This competition is a practical and stimulating exercise in the academic and business worlds. Interesting opportunities such as this competition help to encourage students to participate more fully in education and, perhaps, to stay with education longer, achieving higher educational qualifications leading to greater employment opportunities. For those in third level education in particular, it can stimulate other skills and attributes which might otherwise remain undiscovered due to the pressures of other aspects of academic life.

There will always be an inevitable connection between business and politics - two aspects of society which seek continually to influence one another. Business writers are important conduits of information through the media and their role in investigative reporting can be of great public value. This is an important aspect of the checks and balances which should be encouraged to operate in a democratic environment. An open society is underpinned by its ability to accept the critique of the pen or, indeed, of the word processor. However, it brings with it obligations and responsibilities. A career as a business writer - or as a writer in another field - will be of public value only if it is based on the one element which generates respect, authority, and credibility - the words must be recognised as objective and accurate. Indignation and invective are not acceptable substitutes for research and due regard to the wider environment in which issues and choices are set.

I want to congratulate all the winners to-day and to thank the sponsors for making the event possible. Across diverse areas such as music, painting, literature and the arts there are many examples where unexpected success in a national competition was the catalyst to a famous career. I hope that for today's prizewinners, this recognition of your skills will stimulate you to continue with your writing. It should certainly give you the confidence to do so and, I hope, direct you towards a rewarding and self-fulfilling career.