Eighteen (18) young entrepreneurs have successfully completed a three-day Dominica Youth Business Trust (DYBT) Small Business Assistance Facility (SBAF) Programme to further develop their business.
The programme was held from 9th July to the 11th July at the Dominica Public Service Union (DPSU) conference room.
Participants were owners of various businesses in the areas of food and beverages, cake decorating, catering, crafts, hairdressing and fishing among others.
They were given information to strengthen their knowledge on steps for setting up a small business, record keeping and cashflow, costing and pricing, tools and techniques for market survey, marketing and promotion and branding.
“The programme targets young persons who are already training and want to develop their business further or strengthen the gaps that are in their business,” Coordinator of the DYBT Kerry-Ann Remie told Dominica News Online (DNO) during an interview.
She said the SBAF is considered one of DYBT’s strongest programmes because it targets persons who are already training “so that means these are persons who know what they are doing, they would be training for about 1 year and they would have a business plan. Their business would be registered.”
According to Remie, the SBAF participants will have access to a $20,000 loan guarantee facility and to a mentor.
She also said that a new element was added to the SBAF programme in collaboration with the International Organization for Migration (IOM).
“The DYBT has a project with them (IOM) and for the first time, the SBAF will get the opportunity to get grant funding at the completion of training,” she stated.
The participants will be awarded their certificates during Global Entrepreneurship Week in November.
From its inception in 2004 to-date, the trust has trained over 1,000 young people in various areas of business and self-development skills and supported over 500 businesses.