The Dominica Youth Business Trust has announced their call for applications for the 31st installment of small business assistance facility training program.

The announcement came on November 13, 2023 during the commencement of global entrepreneurship week.

Speaking at the press conference, DYBT Project Officer, Mr. Eamon Gibbons provided details about the upcoming training program.

“The Dominica Youth Business Trust is proud to announce that we are accepting applications for the upcoming 31^st installment of the Small Business Assistance Facility Training Program. The training is slated to run from the 4^th to the 8th of December, 2023 via our online zoom platform from 5 p.m. to 8 p.m. The deadline for applications is the 23^rd of November and this training costs only 70 dollars,” Mr. Gibbons stated.

Mr. Gibbons says this year the small business assistance facility training program will be hosted virtually to better facilitate participants. He highlighted the objectives of the training program.

“Usually the SBM edition of the SBF is held face to face, however the trust has decided to host this training online via the online medium zoom in the evenings. This is in an effort to facilitate and engage entrepreneurs, who are otherwise busy throughout the working day and ensure easy access to entrepreneurship training. The objective of the SBF training is to assist existing entrepreneurs to further develop their skills and knowledge base needed to successfully run a business. The SBF will touch on key management topics such as record keeping, marketing, costing and pricing, understanding cash flow and meeting industry standards,” he noted.

The DYBT is actively taking steps to boost the entrepreneurial industry in Dominica.

“Dominica youth business trust is always reviewing its training criteria to ensure that it effectively meets the need of entrepreneurs with training sessions such as managing risk and business continuity and e-commerce. We’re increasing the capacity of existing entrepreneurs to plan for and effectively respond to internal and external shocks ensuring business success. In closing, I wish to take this opportunity to encourage any young person who is involved in business and is looking to further develop and grow their enterprise contact us at the Dominica Youth Business Trust either by our Facebook page or pay us a visit at our DYBT office on 42 Kennedy Avenue,” Mr. Gibbons added.

While the Small Business Assistance Facility Training Program targets existing businesses the Entrepreneurship Development Programme (EDP) is another major program of the DYBT targeting entrepreneurs in Dominica.

Coordinator of the Dominica Youth Business Trust, Hon. Phillip Rolle spoke to the success of the last entrepreneurial cohort.

“I would say our last entrepreneurial cohort has been very successful. What we’ve noticed especially with our one month training program is that we were able to take entrepreneurs who had an idea as to what they wanted to do. Still were very shy as to how they communicated that business idea, with others to a point where from our recently conducted business plan innovation awards, they were able to speak confidently in front of a panel of judges about their business plan and for me i consider that a major success. Because what that means is that they know what they want to do. And because they have done the research which the training would have prompted them to do they are more comfortable in presenting their business ideas. And that is something we see that a lot of entrepreneurs are unable to do. A lot of people don’t like public speaking in general but the fact that you can present your business idea to a panel that means that when you go to a loans officer you can present that same business idea confidently to that loans officer and hopefully get the financing they need,” Hon. Rolle stated.

Registration is also open for the DYBT caterer’s showcase which will feature culinary entrepreneurs in Dominica in December 2023.

The Dominica Youth Business Trust (DYBT) is an initiative of the Commonwealth Youth Programme and the Government of the Commonwealth of Dominica, with support from the Organization of American States (OAS) and the Caribbean Development Bank (CDB).

The DYBT was officially launched in 2004 and has since benefitted over 1500 entrepreneurs in Dominica.