Dominica News Online – Monday, November 23rd, 2020
Over eighty (80) entrepreneurs are now better positioned to negotiate the economic landscape of Dominica after receiving their certification in several programmes from the Dominica Youth Business Trust (DYBT).
“Empowering Dominican youth in realizing their entrepreneurial potential is the mission by which the Trust is guided,” said Chairperson of DYBT, Frederica James, at a recently held graduation ceremony at the Goodwill Parish Hall.
She noted that, despite the COVID-19 pandemic, DYBT is still able to achieve its overall objective; and the 16th graduation and award ceremony which formed part of the activities to celebrate Global Entrepreneurship Week, held from November 16-20, is evidence of this.
Delivering the featured address, Minister for Blue and Green Economy, Agriculture and National Food Security, Fidel Grant, who represented the Prime Minister, urged the young entrepreneurs to take advantage of concessionary loans and duty-free concessions available to them. He also appealed to the commercial banks and credit unions with rural branches to continue to create packages which support small businesses across the country.
According to him, “These financial packages encourage people to create new businesses and to expand their existing businesses.”
Grant called for the revival of the Small Business Association in Dominica, as he is of the view that the association would be a voice for the small businesses. He believes, however, that, more importantly, it will provide guidance to the government and its membership.
He encouraged the graduates to participate in a consultation which the Small Business Unit is currently undertaking on the Small Business Bill, as he deemed their input vital to the success of these bills.
Minister for Youth Development and Empowerment, Youth at Risk, Gender Affairs, Seniors’ Security and Dominicans with Disabilities, Dr. Adis King, also spoke at the graduation ceremony and revealed that to date, the DYBT has trained 1,285 entrepreneurs in Dominica.
She told the graduates that, with their completion of the programme, they have now become eligible to access the loan guarantee facility of the DYBT of up to $20,000.
“To date, many entrepreneurs have gone through the DYBT programme and [have] accessed financing for their businesses under this special facility. We have other institutions involved in this movement.”
Dr. King further revealed that, in the DYBT current loan portfolio, stands in excess of half a million dollars and that the government of Dominica has invested $2 million in the programme and will continue to explore more opportunities to make more resources available for the further development of this initiative.
She pledged her continued support to “the enabling environment [of the Trust] which will empower our young men and women to contribute more significantly to the social and economic development of our country.”
Twenty-five (25) graduates were presented with certificates for participating in the 14th Entrepreneurial Development Programme (EDP) and fifty-seven (57) were certified for undergoing training in the 23rd and 24th Small Business Assistant Facility (SBAF). Twelve participants of the EDP submitted their business plans and eight (8) entrepreneurs were selected to pitch in the second round.
Mc Chris Morancie of Generation Honey was named the winner of the Business Plan Innovation Awards (BPIA).
From the competition, five promising entrepreneurs—Shirnelle Eusebe St Rose of Shirnelle’s Creative Explosion, Fidel Dowan Seraphin of Kings of Flavour, Alyssa Brumant of Vibra Mink, Lana Green of Lanala’s Construction and Travis Campbell of Iza Design and Motion— received a merit award of EC$2,500 in cash and a service certificate valued at EC$200.
The overall winner of the BPIA received cash prizes of EC $5,000, in addition to EC $2,500 in kind, from IOM, The Rotary Club of Dominica and Campbell’s Business Machines and Supplies Ltd. under the name ‘The Campbell’s/ Rotary Club of Dominica/ Karol G. Phillip Memorial Award for Innovation in Business’, along with a service certificate valued at EC$300, which will go towards developing the business of the awardee.
One entrepreneur from the 23rd SBAF, Jasmine Francis of Sistah’s Cosmetic and one from the 24th, Lien Philogene-Norville of Girl with Goal 767/Brand Development were the winners of a grant of $3,000, to go towards their business.
The award of Most Determined Male went to Graceson John, an Agro processor who is the owner and proprietor of Big G’s pepper sauces, whilst Sherma Alfred Sherma, certified Trichologist and Proprietor of Caribbean Beauty Salon, Spa and Clinic, was awarded Most Determined Female 2020.
The DYBT also presented 16 new mentors with their credentials.
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