DYBT

The Dominica Youth Business Trust (DYBT) is set to host its activities for Global Entrepreneurship Week (GEW), which is designed to explore the potential of aspiring entrepreneurs.

GEW is an initiative of the Kauffman Foundation and Enterprise UK, and is promoted by the Youth Business International (YBI) network of which the DYBT is a member.

GEW will be observed in over 170 countries across the globe from November 12th to the 16th 2018, under the theme: “Creating a Resilient Entrepreneurial Landscape through Engagement.”

Coordinator of the DYBT, Kerry-Ann Remie, who spoke at the launching ceremony of the activities held at the Dominica Public Service Union (DPSU) Building on Thursday, said the DYBT will participate in various media events promoting entrepreneurs.

“On Tuesday, 13th November DYBT collaborates with the Dominica State College to host a Youth Symposium under the theme: The Impact of Community Tourism on the Local Economy,” she said.

The symposium is expected to start at 11:30am at the Dominica State College.

Remie explained that the objective of the symposium is to sensitize students and potential entrepreneurs about community tourism, to share best practices on the topic mentioned and to identify entrepreneurial avenues that impact Dominica’s community tourism experience.

She went on to say that the DYBT Graduation and Mentor Certification Ceremony will take place on Wednesday 14th, November from 3:00pm at the St Alphonsus Parish Hall in Goodwill.

“Thirty potential and existing entrepreneurs will receive certification for completing the two-week Entrepreneurial Development Programme and the three-day Small Business Assistant Facility,” Remie stated. “Forty-four entrepreneurs will also receive certification for attaining training which was sponsored by Promotion of Regional Opportunities for Produce through Enterprises and Linkages [PROPEL].”

She said that the male and female entrepreneur for the year 2018 will be announced along with the Business Plan Innovation Awards (BPIA).

The BPIA is an initiative of the Commonwealth Youth Programme (CYP) Caribbean Center which was introduced to the DYBT in 2015.

“The BPIA was supported for 5 years by the Commonwealth Youth Programme and an award of $60,000 to 36 entrepreneurs of the DYBT was done,” she said.  “From 2010 to 2015 the BPIA was supported by the Agricultural Industrial Development Bank of Dominica to the tune of $30,000 to 18 entrepreneurs.”

Remie continued, “From 2016 to present the BPIA [was] supported by Campbell’s Business System Supplies Limited to the tune of 3 entrepreneurs so far.”

She said the objectives of the awards are to encourage competitiveness among young entrepreneurs in the development of innovative and feasible business ideas, to improve on the quality of business plans produced by the young entrepreneurs in other to satisfy the standard required by financial institutions, and reduce the frustration usually associated with the rejection of business plans by financial institutions.

“It also seeks to promote the use of local resources in an effort to add value to goods and services, thus expanding the customer base in the tourism industry and creating new market opportunities in the region,” Remie noted.

Furthermore she said, the BPIA provides a grant to the top successful entry in the sum of $5000 pay towards the business undertaking and the merit award of $1000 each will be awarded to 5 promising entrepreneurs.

“The winners will be based on the criteria which include the level of creativity, the quality of preparation, the potential impact of the business,” she noted.

Remie said an exhibition event which will allow the entrepreneur to showcase their goods and services, but also themselves as young entrepreneurs, will be held on Friday 16th November at the Government Headquarters grounds from 8:00am to 5:00pm.

“This Tradeshow Expo under the theme: ‘Locally Crafted Resilience at its Best,’ presents the opportunity for DYBT entrepreneurs to display their goods and services, distribute samples and connect with possible clients, mentors and business support,” she stated.

Remie said the event will be done in collaboration with the Ministry of Commerce, Enterprise and Small Business Development, Dominica Arts and Crafts Association, and Dominica Association of Industry and Commerce.

The DYBT is encouraging the entire Dominican public to tune in and participate in the events.