The Dominica Association for Industry & Commerce (DAIC) in partnership with the Climate Resilience Execution Agency for Dominica (CREAD) on Thursday (May 7) will launch the MSME (Micro, Small, and Medium Enterprises) Virtual Financial Management Training.
The training is expected to take place from 10 am to 12 noon via Zoom.
Executive Director of the DAIC, Lizra Fabien, said the DAIC and CREAD believe that a resilient Dominica must have a resilient economy where businesses have reliable access to finance in order to facilitate their operations.
“In support of this, CREAD and DAIC are launching the MSME Virtual Financial Management Training and this financial management training was specially curated for all MSME’s in Dominica through three (3) interactive and engaging online workshops,” she stated.
She said this is all aimed at enhancing the financial strategy that businesses have been planning.
“We are delivering this workshop through three levels,” Fabien stated. “Level 1 deals with startups, level 2 record-keeping and level 3- accounting.”
She continued, “This session will include the basic concepts of starting a business, basic financial management concepts and basic business planning and accountancy…”
According to the DAIC official, subsequent to participation in this session and all other subsequent sessions, all the attendees are invited to take a quiz in order to complete the level.
“Upon completion of the quiz, a successful completion that is, participants will receive a digital certificate and a completion message inviting them to move on to the next level,” Fabien explained. “Before participation, we request that all interested persons would be able to fill out a survey which would grant them access to join this training.”
Fabien said that as partners, the DAIC and CREAD look forward to supporting as many businesses as possible as they work towards a better fiscal future which also includes increased financial literacy and the ability to access financing by all businesses.
She said one of the greatest challenges of MSME’s in Dominica and the Caribbean is access to finance.
“And one of the causes of this challenge is inadequate record-keeping which prevents them from being able to access this finance. We are looking at solving this challenge and really helping our businesses to be able to understand the basics of financing and access more financing to help them to grow their businesses and also sustain their operations,” the DAIC Executive Director stated.