Over 200 small businesses in Region 10 are benefitting from training facilitated by the Small Business Bureau of the Ministry of Tourism, Industry and Commerce. The training is the fulfillment of the commitment made by the Minister of Tourism, Industry and Commerce, Hon. Oneidge Walrond and Senior Minister of Finance in the Office of the President, Hon. Dr. Ashni Singh, to residents about two weeks ago.
The training focuses on developing business plans and ideas, the application process and marketing. It therefore increases the ability of small business owners to garner grant and loan financing.
Participants are also being given a practical guide to registering with the Small Business Bureau and a better understanding of the (GRA) tax and (NIS) insurance procedures. The two-day exercise, which concludes today, is being held at the Watooka Guest House in Linden.
Chief Executive Officer of the Small Business Bureau, Dr. Lowell Porter, explained that the session was open to existing and potential clients of the Bureau. He noted that participants are also being taught the benefits of registering with the Small Business Bureau. “We are enlightening them about the process and helping them that at the end of this session, they can register with the Small Business Bureau and be successful with our support,” the CEO said.
Meanwhile, Director of Business and Entrepreneurship, John Edghill told participants that while many small businesses are interested in the grants offered by the Small Business Bureau, there are several other facilities provided by the agency which can benefit small businesses. “We want to promote and support a small business sector in Region 10 that is viable. We are here to provide a service and to address any questions or concerns you may have,” Edghill told participants.
The Government recently increased the ceiling by more than 100% for the Business Grants from $200,000 to $500,000. Businesses are required to be clients with the Bureau before they can access the services provided, so they are urged to register.