Whatever our opinions on the growth, the quality and the content of television programmes, such as Dragon’s Den, everyone you meet now has an opinion on what will be the next big business idea.

In our millions we await each new series, so that we can cast our own ‘expert’ eyes over the ideas broadcast. Even better is the thought of the heated debate next day with colleagues and friends.

So how do we spot a winner in the business world, and what strategy should we use to find them? Is it an art or a science, and how does it compare, for example, to picking a winner on a visit to Hamilton Races?

To get a feel for this we can consider the following questions:

- Should we back the business plan, or the individual behind the plan?
- Should we support everyone, or should we be selective?

At the Prince’s Scottish Youth Business Trust (PSYBT), where I am Director of Operations, we receive enquiries from over 3,000 young people from all backgrounds, most with no previous business experience, and many with no qualifications. But they all have a business idea.

We have always been an organisation with a wide mouth – we are willing to listen to everyone, deliver advice, open up networks, and offer support where possible through funding and mentoring.

We know that sometimes we are taking a risk that other investors might not be willing to take.

Over 22 years we’ve seen hundreds, if not thousands of the people we have supported go on to great things.

People like Stuart Macdonald of Seric Systems in Paisley, who was originally supported in 1997. Since then, his company has evolved into a multi-award winning IT provider, employing 13 people, with a turnover of £5.5m.

While the turnover and jobs may be important for the economy as a whole, the faith we invested in Stuart’s £1,000 micro start-up back in the nineties is being repaid in other ways too - through his global Ambassadorial work supporting both PSYBT and Youth Business International.

Contributions like his convince me that the longer-term effects of a munificent, collaborative and entrepreneurial culture are greater than those of a purely entrepreneurial culture.

The question of whether to choose to back one 'favourite' business project, or to support as many as possible, takes me back to my days as a child, on summer trips to the seaside and evening visits to the amusement arcade on a sunny Sunday in Eyemouth - at least it is sunny looking back through my rose-tinted glasses!

How many readers remember the wonderful horse racing arcade game, where for a small stake, inserted into the slot, you could choose your horse, complete with the odds - from evens favourite to rank outsider at 10/1?

As a 12-year-old with a limited budget, I would spend an age wondering how well I could do if my holiday spending cash was a bit bigger?

I wondered then how long my kitty would last if I could put money on every horse in the race, compared to backing the favourite every time – and today I wonder the same when it come to start-up businesses.

Why assume that business is a zero sum game – wouldn’t it be better to work to recycle money and happiness, and aim to have as many winners as possible?