Chamber holds first small-business workshop for 2020

Paula Smith Financial Controller of the CIDC facilitating the session.

The Chamber of Commerce held the first in a series of 12 free workshops targeting micro and small businesses, and aspiring entrepreneurs, on 30 Jan. at its training centre in Governors Square.

Approximately 40 people, representing a cross section of small-sized businesses and start-up entrepreneurs, participated in the workshop, which focussed on financial planning.

Tracey Ebanks, general manager and CEO, and Paula Smith, financial controller of the Cayman Islands Development Bank hosted the interactive session, which provided participants with practical advice on strategies for sourcing cash to start a business, preparing realistic budgets and key indicators to watch in monitoring a budget.

The participants also learned how to manage various business-related risks.

Tracey Ebanks, general manager and CEO of the Cayman Islands Development Bank, facilitating the financial-planning session.

The next workshop, on preparing financial business plans and completing and submitting business loan applications, will be held on 20 Feb.

The chamber organises the free workshop series in partnership with the Ministry of Commerce, Planning and Infrastructure. The sessions provide micro and small businesses, and aspiring entrepreneurs, with training and guidance on starting, running and successfully growing a business. One workshop will be held each month between January and December 2020. To date, over 1,200 micro and small business owners and other entrepreneurs have benefitted from 46 workshops, the chamber said.

Small business owners or business-minded individuals in need of training or guidance are invited to view the upcoming workshops and register for the 20 Feb. session on the chamber website.

For more information, call the Chamber of Commerce at 949-8090, or email [email protected].