Help in getting you started

When you are starting
down the route of setting up your own business it is useful to get as much
advice as possible at the outset and throughout the process. The Department of
Commerce and Investment offers advice on various aspects of setting up a business
and consultations with them are free. Charmaine Moss, Business Development
Advisor outlines the services they offer.”Our initial counselling session
usually last an hour and no longer than one and one half hour. All advisory
sessions are personalized, confidential, one-on-one, and free and there is no
cap on the amount of sessions offered.”

They also offer
similar services on the sister islands.

They offer advice on
issues which include the following

Developing a business

Business Expansion


Access to Financing



Obtaining information
on the Cayman Islands business climate

Assessing the health
of their current business

Understanding local
laws and regulations


CAIN – Cain Angel
Investment Network

For those who are
need an alternative source of funding, CAIN provides money to entrepreneurial
ventures operating in the Cayman Islands. You also get the added benefit of the
direct involvement of experienced entrepreneurs and investors who provide a
valuable source of free advice, mentoring, feedback and knowledge that will
increase the chances new ventures succeeding. 
Moss says, “The DCI provides administrative support for CAIN, taking in
applications and checking that they are completed properly and have the minimum
requirements.” It also assists with coordinating meetings and will prepare
entrepreneurs for the all important formal presentation for CAIN members if
accepted. The DCI also provides a range of support services to entrepreneurs
through workshops, individual counselling, and access to resources. Moss thinks
it is a good idea for new businesses to avail themselves of these services so
they are well prepared before they approach CAIN or any other funding source.


CTCS: Caribbean
Technological Consultancy Services Network

CTCS is a service of
Caribbean Development Bank. CTCS Network is a Network operated by the Private
Sector Development Division (PSDD) of the Caribbean Development Bank (CDB) in
cooperation with regional and National institutions, laboratories, industrial
enterprises and consultants.  CTCS helps
to solve planning and production problems by proving Caribbean expertise at an
affordable cost. 

Moss says recently
local business owners, Noel Fletcher of Alpino Construction and Richard Dunn of
E & R Construction returned from CTCS Computerized Job Estimation
Techniques for Artisans and Small Contractors Workshop held in Barbados and
even though Fletcher, has been running his own construction and maintenance business
for 18 years, he found there was still things to learn “Many things that you
take for granted when costing a job were pointed out to us and we     realized by leaving them out, we were
using losing money.”

Dunn,is newer to
business but felt the same. “It was a good experience. As a contractor,
financial management is not our strength but nonetheless it is an important
part of our business. I found the software programme they introduced us to
extremely helpful. No calculations are necessary; you just input your line
items and you get options to play with.”

The course was
designed by the Caribbean Development Bank under their Caribbean Technology
Consultancy Services (CTCS) programme and 
Successful applicants paid  US
$350 to participate with air, hotel and basic meals were covered by CDB.

With this type of
support systems in place no-one starting up should feel alone and it is
possible to make your dream but you must have a vision and stick to it as Moss
says,”A business without a vision is directionless. It lacks purpose. You
cannot plan the future of your business if you do not have a vision. It is the
starting point of any business growth plan

Comments are closed.