BASSETERRE, St. Kitts - THE Sugar Industry Diversification Foundation-funded Small Entrepreneur and Enterprise Development’s (SEED) Programme has seen some relative success in helping young aspiring proprietors to establish their business.
Corporate Affairs Manager of the SIDF, Delcia Bradley-King stated that the Foundation is proud of the SEED Programme.
“The SIDF is extremely proud of the SEED Programme. It’s a programme that provides training for participants training from experience resource persons. It is also a programme that provides interest-free loans up $100 000 and support from a business manager and an accountant for one year.”
She added that the programme is a popular initiative after receiving over 200 applications for the first three phases.
“It is no wonder, therefore, the SEED Programme is such a popular programme. To date, we have had 204 applications for the three Boot Camps. Of that number, 36 has been accepted into the SEED Boot Camp.
“Given the intensive nature of the Boot Camp and the level of the commitment and sacrifice that is required, also the one-on-one support that must be provided, it is best to keep this programme relatively small.”
Bradley King also gave some statistics on the success of the programme.
“Twenty-two persons completed the first two Boot Camps, and of that number 15 are now in the incubation stage that represents about 75 percent.
“Two of those businesses are already operating. By the middle of next month we will have the opening ceremony for a third business and there are a few other businesses that are almost ready to open.”
The SEED Programme represents a direct investment in the citizens of St. Kitts and Nevis.
Other programmes in which citizens are direct beneficiaries include the Fund for the Realisation of Economic Empowerment through Subsidised Housing (FREESH), the People Employment Program (PEP), the Housing Enhancement Loan Programme (HELP) and the Student Guarantee Fund.
The SIDF is committed to assisting the government in nation building and announced that a programme to assist recent college/university graduates would soon be launched.
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.
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.
