HYPE Enterprise Challenge launched

BRADES, Montserrat – The launch of the Enterprise Challenge by the Helping Youth Prepare for Employment (HYPE) programme signaled the close of the first Entrepreneurship Seminar held last week Tuesday and Wednesday at the Montserrat Cultural Centre.

More than 70 young people between the ages of 16 and 30 registered and attended the sessions lead by experts in a variety of fields. For two days the aspiring business owners came up with ideas for new enterprises and worked on the business plans, marketing and financing aspects of creating the venture.

One of the most impactful presentations was made by businessman Joel Osborne who presented 10 things that every entrepreneur should know. These included saving 10% of income, paying yourself only what the business could afford and giving excellent service.

The participants also benefited greatly from the Five-Minute Sales Pitch which gave the eight mock companies a chance to sell their venture and encourage the panel to invest the business. The mock companies ranged from gaming halls to a body care centre to glass recycling ventures. The panel included HYPE presenter and bank manager of Royal Bank of Canada Cassandra Ryan, Permanent Secretary of MYACCS Eugene Skerritt, HYPE presenter and organizer Agatha Aspin, HR Consultant Jean Blackstock, and HYPE presenter and entrepreneur Daniel Joseph. They gave the groups critical feedback on elements which were missing from their business ideas and highlighted the importance of proper research and understanding of money matters.

“The training gave information that every entrepreneur would need to start a business. It also assisted in making business plans, so I found the training was very relevant to the starting up of my business,” said one participant on their evaluation.”

“This training has reduced the fear of failing and pressure from competition. I thought it was relevant to my development,” said another.

Persons between the ages of 16 to 30 have until October 31, 2010 to submit a business plan to be considered under the Enterprise Challenge. The enterprise development scheme provides loan support of up to $20,000 for youths as start-up for their business initiative.

The HYPE Entrepreneurship Seminar was endorsed by Chief Minister Reuben Meade and organized by the Ministry of Youth Affairs through their HYPE programme. Copies of the application rules are available in the Office of the Chief Minister and at the Ministry of Youth Affairs.

ENDS

Captions: Participants at the first HYPE Entrepreneurship Seminar held September 14 – 15, 2010 at the Montserrat Cultural Centre, work on their mock company in preparation for their presentation.

Joel Osborne gave a frank presentation on lessons each entrepreneur need to learn about being successful at business, during the second day of the HYPE Entrepreneurship Seminar held on September 14 – 15, 2010 at the Montserrat Cultural Centre.

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