Maroc - NEWSDAY.CO.TT - A la Une - 20/Dec 13:33

Youth Development Ministry, Nedco give $20,000 grants to 202 entrepreneurs

THE Ministry of Youth Development and National Service (MYDNS) and the National Entrepreneurship Development Company Ltd (Nedco) distributed grants to 202 aspiring entrepreneurs at the Government Campus Plaza in Port of Spain, on December 17. The grant distribution ceremony, which marked the third and largest cohort of the year, aimed to support the development of small businesses across Trinidad and Tobago. Minister of Youth Development and National Service Foster Cummings addressed the audience. He was visibly emotional owing to the death of his colleague and friend Lisa Morris-Julian on December 16. Morris-Julian, MP for D’Abadie/O’Meara and Minister in the Ministry of Education, died in a house fire along with two of her children. Cummings said, “I couldn’t think of a better way for us to invest the taxpayers’ resources than investing in you, people of TT, who are determined that you are going to step out and take a risk and get involved in business.” He urged recipients to make the most of the opportunity. “Sometimes we feel that we have it all figured out until we’re exposed to new perspectives. I hope you use the knowledge gained from this training to run your operations better,” he said. “In the quietness and stillness of your night, as you ponder on these things, you take a thing or two from what they’ve told you and at the end of the day you come up with what is best.” Cummings also advised recipients to seek feedback from peers and mentors. “Kindness and love is something we need a little bit more of in our community.” He said looking at the comments on social media on the death of Morris-Julian, he questioned the humanity of TT. “God help us in this country…when did we get like this? we can’t look at a tragic situation without getting down in the gutter…We need partnership, some sort of young-love vision of what partnership should be.” He said the programme demonstrated to TT the seriousness of what the ministry and Nedco aimed to accomplish. “A lot of people did not believe we were going to do it.” He reminded recipients the funds were not to be used on ham and grog but rather, to invest in their businesses. The Micro and Small Business Start-Up Grant is led by MYDNS and administered by Nedco. It offers grant funding of up to $20,000 along with training, mentorship and business advisory services. Nedco’s CEO Calvin Maurice said, “These 202 entrepreneurs will generate $197 million. Think about that. These are 202 stories of quality, 202 pathways to economic empowerment and 202 opportunities to transform our national economy.” Maurice said the financial impact demonstrated the tangible economic benefits expected from the initiative, supporting the government’s economic diversification agenda. “Each and every one of you represents a dream, a vision and most importantly, a commitment to transforming the world. Since its inception earlier this year, the grant scheme has received substantial subscription, which indicates its relevance and success.” He added the demographic composition of this cohort included 134 women, marking a shift towards gender equity in the local business landscape. “Women entrepreneurs are shattering barriers, challenging stereotypes and leading economic transformation. Two-thirds of our grants are going to women.” He said the programme’s strategy also targets the most economically vulnerable regions, specifically pointing to St Patrick’s, where 33.9 per cent of the Indigenous population lives, and St Andrew’s, home to 90 per cent of the destitute population. “We are creating employment opportunities in historically impoverished regions by creating 107 new jobs,” said Maurice. Training coach Simone Claxton shared insights into the development of the programme’s participants. She said her class targets the executive summary, business description and various stages of marketing. Claxton encouraged the public to get involved, adding the training process spans three weeks, with one-hour coaching sessions each week. She said the quality of participants' business plans and particular criteria provided by MYDNS and Nedco would determine the amounts they received. She said most recipients produced outstanding plans and most likely received the maximum amount. A recipient from the first grant cohort shared her perspective on the programme’s impact. Gaynor Lewis, the owner of Just Living Good, a brand focused on all-natural herbal teas and spices, thanked the programme’s facilitators. “Together, we’re not just building businesses, we’re building a stronger, more resilient economy for TT,” Lewis said. She said embracing the support provided by the programme empowers entrepreneurs to transform their lives and the nation’s future. Third-cohort recipient Shaquille Samuel, owner of Prim and Proper Quality Contracting Services, said, “It was greater than expected and it develops your business to the next level.” Anissia Hussein said she found out about the programme through Nedco’s Facebook page. She praised the guidance provided by the trainers. “I would advise those who are trying to start up a new business or even those who have a small business and want to get that finance to do this course. It’s not just about the money, but about getting that business plan in order.” Also present were Narine Charran, permanent secretary of MYDNS, along with members of Nedco’s board and local celebrity Kerron Sealy (Sunny Bling), who served as MC. The post Youth Development Ministry, Nedco give $20,000 grants to 202 entrepreneurs appeared first on Trinidad and Tobago Newsday.