The Cayman Islands Investment Bureau recently held an awards luncheon recognising business volunteers who will be heading up a new training certificate program to train local small business owners.
‘The small business sector comprises approximately 80 per cent of all businesses in the Cayman Islands and over 96 per cent in the Sister Islands,’ said Investment and Commerce Minister Charles Clifford.
‘From the availability and choices we have as consumers, the creation of new jobs, and the flow of income that affects all of our communities, to the innovativeness and creativity that allows our economy to grow and flourish, the importance of this sector cannot be denied,’ he said.
The workshop leaders took part in the training programme in February and March 2007 through UK-based Institute of Business Advisors. The leaders represent a number of government departments and agencies, as well as private sector institutions.
The upcoming New Venture Workshop Series, which will carry an administrative fee of $25, is comprised of quarterly three-week workshops where participants will create a draft business plan to help them successfully start and finance a new business venture.
A number of business partners commented on the usefulness of such programs, which instil much- needed confidence and business know-how in budding entrepreneurs.
The training volunteers will be assisting workshop participants at all stages of the small business planning. However, those just starting to pursue their business ideas will be given preference.