Campers at the Youth Service Unit’s Summer Sizzling Camp had the chance to learn about entrepreneurship from the Cayman Islands Investment Bureau.
A press release states that this week, the organization participated in the camp’s opening ceremony and an entrepreneurial exposure segment.
The Bureau will also be reviewing business proposals from teen moms enrolled in the Empowerment and Community Development Agency’s summer programme to give feedback and offer constructive criticism to that group’s assignments. The Bureau also runs a student consulting programme it coordinates in association with the Business Department at the University College of the Cayman Islands during the regular school semesters.
‘I see these partnerships as wonderful opportunities to assist our youth in recognizing and developing good business practices at an early age,’ said Bureau Deputy Director Pat Ulett.
‘While the idea of entrepreneurship at all ages is more embedded in the Unites States and other developed countries, it is not so prevalent for us in the Caribbean and we need to change that.’
Entrepreneurs are the backbone of most economies. In Cayman, roughly 81% of all businesses have less than 25 employees. That gives a strong indication of how important small businesses are to this country.
In her address to the Summer Sizzling campers the Bureau’s Head of Marketing Lesley-Ann Thompson shared examples of young people under twenty-five who had started their own companies and are maintaining successful businesses today.
She told the group that whether they liked fashion, cars, cooking, video games, sports, movies, music, science or something else, they were to start thinking about how they could turn that passion into a business someday. She advised them that once their idea was fine-tuned, to do research, study and do well with their formal schooling, then go to the Investment Bureau for further guidance.
The Business Advisors there can help young people look at all the angles and put together a business plan to set them on the path to success.
The Cayman Islands Investment Bureau is the official government agency responsible for encouraging and supporting business development in the Cayman Islands. For more information on any of their programmes and events, please contact them at 945-0943.