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The Ministry of Commerce and Industry, in partnership with the Business Startup Center (BSC) Monrovia has announced the opening of the Youth Startup Business Plan Competition 2023 cohort. The initiative, which is being supported by the United Nations Development Program (UNDP) through its Livelihood & Employment Creation project, targets young, ambitious youth interested in starting their own businesses.
According to a press release, the Competition targets 300 youth drawn from seven counties: Montserrado, Grand Bassa, Grand Cape Mount, Grand Gedeh, Sinoe, Nimba and Lofa counties, who will participate in two days of business skills training, and competition for business start-up grants of USD500.
The successful recruits will learn about business and financial planning and present their business ideas to a panel of judges in the hope of securing grants of up to US$ 500.00. They will also benefit from coaching and mentorship support when developing and refining their business ideas.
The competition aims to foster entrepreneurship among Liberia’s youth, identifying their needs and challenges, and developing innovative and creative solutions.
It is expected that applicants will come forward with business ideas from all sectors of the economy including agriculture, information technology, transportation, food processing, manufacturing, health and along all values chains about the key sectors.
UNDP and the Government of Liberia through the Ministry of Commerce and Industry are working to support the development of a strong and vibrant private sector through business development that is aim at contributing to poverty reduction and the empowerment of young people and persons living with disabilities.
Last year, the Business Plan Competition attracted 954 applications from the seven counties: Montserrado, Grand Bassa, Grand Cape Mount, Grand Gedeh, Sinoe, Nimba and Lofa counties. The best 300 applicants were invited to the business skills and pitch training. All 300 entrepreneurs/businesses access grants up US$ 500 to start and expand their enterprises. The ideas cut across all sectors including agriculture, information technology, transportation, food processing, manufacturing, etc.
These businesses are expanding their operations, creating income and employment opportunities and providing goods/services to their clients while contributing to economic growth and development. All applicants are advised to apply with a registered mobile money number in their names. Applicants will be required to submit a national identification card before participating in the Business and Financial Skills Training. Female candidates are strongly encouraged to apply.
Applicants who have benefited from the last two cohorts of the business plan competition are not eligible. To apply to this competition please visit this link: https://bit.ly/bsc_businessplan2023
For more information on the application procedure, follow our social media accounts: Twitter: @BSCMonrovia, Facebook: @Business Startup Center Monrovia. @BSC Monrovia LinkedIn.
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