Youth Minister highlights importance of entrepreneurship; calls for greater partnership among Dominican entrepreneurs

Dr. Addis King, Minister responsible for Youth Development and Youth at risk

Minister of Youth Development and Empowerment, Youth at Risk, Gender Affairs, Seniors’ Security and Dominicans with Disabilities, Dr. Adis King, has called for greater partnership among entrepreneurs in Dominica in an effort to widen their customer pool and increase revenue.

She made that call during her statement on the observance of the Global Entrepreneurship Week (GEW) which opened today.

This year, the theme for GEW is “Building Strategic Partnership for Sustainable Youth Entrepreneurship and Development”.

“The theme reverberates the need for strong alliances that aim to support the development transfer and implementation of innovative practices as well as the implementation of joint initiatives, promoting cooperation, peer learning and exchanges of experience to strengthen youth entrepreneurship,” King said.

Dr. King continued, “During this COVID-19 pandemic, we have seen the emergence of strategic partnerships between a number of entrepreneurs with the local and regional sphere and an effort to widen their customer pool and increase revenue.”

She said entrepreneurship is more than just the narrow pursuit of commercial success.

“It is the engine that solves the world’s problems. It is the cornerstone of economic growth and global stability which creates jobs and enhances human welfare,” Dr. King stated.

The Youth Minister went on to say that while older businesses tend to become obsolete, young enterprises grow, inject dynamism into an economy and engender innovation into society.

“Young enterprises create new wealth and jobs and they make up approximately 90 percent of enterprises in the world and account for 50 to 60 percent of employment, especially in emerging economies,” Dr. King stated.

From today, 16th November to Friday 20th November, the DYBT will partner with various public and private sector institutions as well as regional and international organizations in several events, to observe Global Entrepreneurship Week 2020.

Two webinars will be held on Tuesday 16th November and Thursday 19th November respectively.

Tuesday’s webinar is themed: “Women, Entrepreneur, Work, Life, Balance”, while the theme for Thursday’s webinar is “Tech Entrepreneurs, Exploring Tech Business”.

According to Dr. King, both webinars are focusing on local entrepreneurs and the various opportunities available within Dominica’s local sectors.

On Wednesday 18th November, the DYBT will hold its 16th Graduation and Awards Ceremony at the St Alphonsus Parish Hall where 80 deserving entrepreneurs will be awarded certificates in entrepreneurial training.

“A young businessman and woman will be awarded as the determined male and female entrepreneurs of the year,” Dr. King revealed.

She added that to end the week, the DYBT will collaborate with the Ministry of Trade, Commerce, Entrepreneurship, Innovation Business and Export Development as well as The Dominica Association for Industry and Commerce and the Office of the Prime Minister, to hold a virtual expo and product showcase.

“This Expo will be held on Friday 20th of November 2020 through the DYBT Facebook Page,” Dr. King indicated.

She said the aim is to place entrepreneurs’ items on eCommerce platforms which will allow for the public to not only view but purchase items.

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7 Comments

  1. Zero plus zero = 0
    November 17, 2020

    All these empty vessels useless ministers doing is talk and make noise just to give the impression that they doing something. But they are empty and have no plans whatsoever to move the country forward. I too fed up with that ” talk show’ government.

  2. LifeandDeath
    November 17, 2020

    Not much to say, but how after Billions from the Golden Goose CBI the Government has not yet set up a fund for entrepreneurs in that country?

    Probably it will happen. #priorities

  3. Roger Burnett
    November 17, 2020

    We tend to confuse entrepreneurs with those who develop small businesses. There is a difference between the two.

    Entrepreneurs are few and far between. They take on high-risk innovations with focused market initiatives that result in spectacular high growth. Small businesses tend to work with an established product and customer base.

    A bank may help to finance a small business but fight shy of the entrepreneur. Most entrepreneurs begin penniless.

    Ninety-nine percent of start-ups in Dominica and elsewhere in the world fall under the small businesses category.

    Richard Branson’s flare as a risk taking entrepreneur began in his school days. When he left school, after failing in most subjects, his headmaster predicted that within two years he would either be in jail or he would have made his first million.

    If you’ve flown Virgin Airways or bought Virgin Records you know the rest!

    • November 17, 2020

      While it’s true that most new businesses in Dominica are locally focused and unlikely to grow internationally, those starting them are still entrepreneurs, even though they many not be starting the sort of exponentially scaling business that would appeal to Silicon Valley venture capitalists.

      That said, I’ve long thought that with our zero tax, low regulation IBCs, we really should be more a popular jurisdiction amongst those starting e-commerce businesses, especially those trying to bootstrap them (i.e., start up without external investment).

  4. Pipo
    November 17, 2020

    Partnership as long as you toe Roosevelt Skerrit’s line Dr. King?

  5. Ibo France
    November 17, 2020

    I believe that a country that relies almost exclusively on government to provide employment opportunities for its people is anti-progressive.

    Entrepreneurship, especially by young people, is a step in the right direction. There should be a concerted effort by government to create the right environment for new and innovative businesses to thrive.

    The present stark economic conditions, the colossal failure of government to incentivise the business environment, does not augur well for new businesses to flourish. The line minister is engaging in all talk and no action as usual with this government. The people want action not more empty rhetoric for actions speak much louder than words.

  6. awa wi doctor
    November 17, 2020

    People dont have money. Why not a private public sector partnership. Provide land that is partially developed, and let the people work it. Designate farm land for the production of select cash crops, and let us work it. Provide industrial space for processors, and let them work it. What you want to again Addis? just give so called entrepreneurs money again with little to NO impact.? The kind of support they need is a place top operate. Standards that are very necessary to keep them competitive, access to certain markets, and a way to reach those markets, whether it is virtual, or physically.

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