Minister of State in the Ministry of Culture, Youth, Sports and Community Development, Senator Oscar George has announced that over 1500 young people in Dominica have benefited from the Dominica Youth Business Trust (DYBT) since its inception.
He made the announcement during the DYBT awards ceremony held at the State House Conference Centre on Wednesday.
The ceremony forms part of the Trust’s 20th Anniversary celebrations. Thirty-one (31) awardees including persistent entrepreneurs, loyal facilitators, dedicated trustees, and special awardees who have played a vital role in supporting the growth of young entrepreneurs in Dominica were recognized.
The Trust was officially launched in May 2004.
“Over the last 20 years it is estimated that over 1500 young persons have benefited from the DYBT program,” George said. “As I speak, a variety of sectors have been touched by this program. ICT, agro-processing, garment making, retail, catering, taxi operations, tourism…”
According to him, the impact of the DYBT has been tremendous, “and I can say with no fear or contradiction that the objectives of the trust are being met in a very progressive manner.”
Furthermore, George said the most challenging time for any business is in the initial stages and one of the major obstacles facing entrepreneurs in the early stages of business, is the difficulty in accessing financing due to limited collateral.
He also indicated that many small businesses may fail, due to inadequate technical expertise, to withstand the challenges in their initial stages.
“I am happy to say that in Dominica the trust has been able to bridge that gap right here…,” he said. “Since its existence, it has provided opportunities for young persons with the provision of financial support to hundreds of small businesses .”
Prime Minister Roosevelt Skerrit, who was one of the special awardees, gave the assurance that his government will continue to build on the investments that it has made in the DYBT, “expanding its programs, increasing its financial support and ensuring that every young entrepreneur has access to training, mentorship, and capital.”
He also took the opportunity to highlight the investments the government has made in the youth, not just in entrepreneurship, but across all sectors including education, agriculture, technology, and leadership.
According to the PM, over the past several years the government has increased access to grants and low-interest loans to ensure that funding is never a barrier to youth enterprise.
“Our low-interest facility at the AID Bank provided small businesses with a valuable lifeline in the aftermath of COViD-19 to sustain and grow their businesses,” he stated. “We are talking about financial support of up to 40 million dollars in addition to the grants that the government continues to provide to the small business unit, the additional one million dollars pledged to the DYBT in 2022, and the human resource support provided through the National Employment Program.”
Additionally, Mr. Skerrit said his government is working on incubation programs that will help young businesses scale and compete at regional and international levels, including the development of a production facility and the rental of hubs in at least two locations, to provide space for small agro-processors to increase production.
Meanwhile, Minister for Culture, Youth, Sports and Community Development Gretta Roberts echoed that many of the brightest entrepreneurs have had their start with DYBT, receiving training, mentorship, and the confidence to take bold steps into the business world.
“Such entrepreneurs have excelled locally and internationally, providing that given the right support, our youth can compete and shine on any stage,” she stated. “We have seen remarkable success stories…”
The DYBT is an initiative of the Commonwealth Youth Programme (CYP) and the Government of the Commonwealth of Dominica, with support from the Organization of American States (OAS) and the Caribbean Development Bank (CDB).
This Project focuses on a model by which young people are provided with the wherewithal to establish sustainable businesses. It combines attributes of several past initiatives and involves inputs from various institutions and donors into a coordinated project that delivers an efficient package of services to young entrepreneurs.
List of Awardees
Awardees:
Category: Strong Partners
- IOM
- NDFD
- Small Business Unit
- Campbell’s Business Systems and Services
- WUSC
- European Union
Category: Dedicated Trustees
- Kim Simon Gardier
- Frederica James
- Vincent Etienne
- Lydia Andrew
- Careen Prevost
Category: Loyal Facilitators
- Matilda Popo
- Marcia Baron
- Natasha Labad Yeeloy
- Brendan Defoe
- Fredricka Durand
Special Awardees
- Hon. Dr. Roosevelt Skerrit
- John Roach
- Ronald Jno. Baptiste
Category: Persistent Entrepreneur
- Tridel Elwin
- Graceson John
- Nathaniel Lovell
- Sherne Jno Finn-Vigilante
- Cendy Poponne
- Rudy Defoe
- Sherma Gregoire
- Kervin Vidal
- Avena Prince
- Christianna Paul
Most Outstanding Mentor (Male)
Elias Dupuis
Most Outstanding Mentor (Female)
Natoia Paul
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