BASSETERRE, St. Kitts - THIRTEEN excited budding entrepreneurs are currently involved in an intensive three-week Business Boot Camp as part of the Sugar Industry Diversification Foundation’s (SIDF) Small Entrepreneur and Enterprise Development (SEED) project.
The Third Edition of the programme got underway yesterday (Sept. 30) with a short opening ceremony at the Conference Room of the St. Kitts Cooperative Credit Union, Bladen’s.
Speaking at the ceremony, Boot Camp Coordinator Petra Browne gave an overview of the programme, stating that the participants would be trained to develop a sound business plan among other important business requisites.
“The SEED programme has two phases; the first of which is the Boot Camp. In this Boot Camp you are provided with the prerequisite business training that steers you through the writing and preparation of a business plan.
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“This Phase is four weeks long and each evening for the first two weeks you will receive training in Marketing; Finance; Setting your Objectives, your Competitive Analysis and all of the elements that really make for the preparation of a sound business plan.”
She further explained the Second Phase in which the successful Boot Camp’s participants would be involved, would actually see them setting up their businesses.
“Those of you who are successful will move on to the Incubation Stage and you are then provided with institutional support, mentorship, and business managers who will assist you consultatively in setting realistic goals and helping you meet business targets before you assume full management control.”
Chief Executive Officer of the SIDF, Terrance Crossman highlighted the fact that only 10 percent of start-up business is successful and that his organisation is determined to change that number.
“The success rate of start-up businesses is 10 percent, so we are beginning to go after what is already an audacious goal. Maybe in some people’s mind an unattainable goal but we want to change the numbers.”
He added that the programme is important on the SIDF’s agenda, as they continue to empower citizens.
“What we are attempting to do here is to change the statistics. This ceremony therefore is a milestone event on the calendar of the SIDF, as it demonstrates the continued investment of the SIDF in the empowerment of our citizens and the economic growth of the Federation.
“The SIDF has a mandate to assist the government in growing and diversifying the economy.”
The SEED project is geared towards the promotion of small business enterprises within the Federation of St. Kitts and Nevis and is being administered in two stages.
The first is the Boot Camp or Development Stage and the second has been dubbed the Incubation Stage. During the latter, participants would be required to get their businesses up and running.
