Twelve (12) private training institutions are now signatories to a Memorandum of Understanding (MoU) with the Small Business Bureau (SBB) through the Micro and Small Enterprise Development programme (MSED).
This MoU will allow these institutions to train young entrepreneurs, who have benefitted from cash grants and loans through the SBB in managing their own small businesses.
The training institutions from the 10 administrative regions are expected to train business entrepreneurs in order to equip them with the necessary skills and information needed to succeed in the business environment. The training institutions which will facilitate the training are Ruimveldt Life Improvement Centre, Generation Next, Roadside Baptist Church Skills Training Centre, Partners of the Americas, Kuru Kuru Cooperative College, Action Coach Guyana, Guyana School of Agriculture, EMPRETEC, Cerulean Inc., Critchlow Labour College, Management Options and Interweave Solutions.
Minister of Business and Tourism, Dominic Gaskin, who facilitated the small ceremony for the signing, encouraged the trainers to utilise modern technologies which would make the training relevant to today’s business environment.
“I’d also like to express the wish that the content of your training programme is relevant and up to date, utilising modern technology wherever possible,” Minister Gaskin stated.
The MSED programme which began in 2013 has trained more than 1000 young entrepreneurs who had accessed small loans and grants through the SBB.
Officer in Charge of the bureau, Gillian Edwards-Griffith, in sharing background information on the MSED programme and how it affects the business community said, “We have done to date 193 grants, $300,000 each, and in terms of loans with financial partners, we have three, of which two are active giving a total of 63 loans,” Edwards-Griffith said.
The MSED programme will be evaluated by an independent body to give the SBB a fair idea of the successes in order to start the second phase of the training.
Funding will be evenly disbursed among the training institutions for them to facilitate the mandate of the Ministry of Business and Tourism through the SBB. This will make way for young entrepreneurs all across Guyana who had accessed cash grants or loans to benefit from this training.
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