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JUN 18

Fifty-one young persons on the island have graduated from the government-sponsored Grenada Youth Enterprise Initiative (GYEI), which seeks to assist young entrepreneurs interested in business ventures.

The programme was started by the Ministry of Youth and is being funded by the Grenada Development Bank (GDB) through the Small Enterprise Development Unit (SEDU). At a short graduation ceremony last Friday at Tropicana Inn along the Lagoon Road, St. George's GDB employee, Elsa Baptiste indicated that the youth Initiative targets young people who are interested in setting up their own business.

According to Baptiste, the main objective of the project is to educate participants on entrepreneurship, to assist the participants with the preparation of business plans to obtain financing, to create an awareness of the importance of proper business management, and to get them ready to start businesses on their own.

"Some of the participants are already small business owners, so it was a matter of getting them to manage their business properly", she said. Baptiste announced that on the completion of the training course, participants will submit their business plans to GYEI for possible approval with a view to sending them to GDB, where funding for the business will be released.

She said admitted that only eight business plans have been submitted to GYEI. "Hopefully by the end of June now that the training has been completed , we will get most of the business plans in", she added.

Some of the business areas that participants have shown interest in are Hair Dressing, Plumbing (women), Agriculture and a Herbal Shop. Coordinator of Youth in the Ministry of Youth, Cecil Greenidge told the graduates that, "The ball is in your court now", since

GYEI is one of the most important projects of the ministry as it seeks to strengthen and develop business enterprises in the country. Greenidge noted that the people of the Caribbean have a habit of not taking risks, but GYEI encourages participants to take risks. He told the graduates that to be successful and productive, they have to take risks.

Greenidge congratulated the participants of the initiative, noting that their choice to take part in the scheme is for their own personal development and that of the country. He told the participants that he hopes they would transfer the skills and knowledge obtained in a positive manner.

In addressing the ceremony Permanent Secretary in the Office of the Prime Minister, Elizabeth Henry-Greenidge indicated that one of the objectives of the Youth Department is the empowerment of youths.

Henry-Greenidge said that one of the reasons for the Ministry of Youth trying to empower youth is due to the fact that they consider them as the future of Grenada. "If we do not start now, begin now, to help you to become self sufficient and to be able to manage your own affairs, then when your time as adults do reach, we will be in some difficulty," she remarked.

She acknowledged that quite a lot of young people are unemployed in the country and both the government and private sectors cannot provide jobs for them. "It means therefore that you have to take the bold step to become self sufficient and to have you own businesses", she told the graduates.

The senior civil servants advised them that being new business owners, they should not expect to become rich overnight and that they should not spend their earnings carelessly. "To be successful you have to work hard", she urged the participants.

Project Officer of GYEI, Norman Gilbert assured the GDB as the funding agency that the participants are productive and outstanding persons, who possess skills in many areas. He commended the participants for the step taken and urged them to be competitive as the Caribbean Single Market and Economy (CSME) will be coming on stream shortly.

Gilbert, however admitted that he was not satisfied with the amount of business plans received so far and called on the graduates to submit their business plans soon. The training programme carried out dealt with topics such as Business Plan Preparation, Business Management, Staffing, Marketing, Market Target, Financial Management, Record Keeping, and Cast Flow Statement.

Each session lasted for one week and took place at the Youth Center in Grand Anse, Bain's Hall, Grenville and at Ministry of Agriculture Conference Room at the Fish Market on Melville Street, St. George's.