Barbados Entrepreneurship Foundation to host Trade Fair in early 2015 for Teenage CEO’s
Columbus Telecommunications Barbados Limited (operators of FLOW & Columbus Business Solutions) through its broadband service enables entrepreneurs to operate at same level as counterparts overseas.
This was part of Niall Sheehy‘s address to media and contributors when highlighting Columbus’ decision to partner once again with the Barbados Entrepreneurship Foundation (BEF) $20 Challenge, an entrepreneurial competition for students in secondary schools which has now run for three cycles with almost 500 young people taking the challenge and continuing to perform and compete.
In looking at how Barbados can facilitate entrepreneurs, Keith Miller – who started Miller Publishing and now shares his experience at the Barbados Entrepreneurship Foundation – revealed the Foundation is preparing a paper to present to Government on ways regulations can be eased to allow entrepreneurs to form their own companies.
4th and 5th Form students are provided with a loan of $20 and given an allotted time to use the funds to create a profitable, innovative and/or community minded business as well as provide corporate responsibility should the drive make a sufficient profit. Each competitor has to keep basic records and at the end must produce a business plan/report which demonstrates their thought processes, decisions and actions and includes some basic accounts.
The Barbados Workers Union Co-Operative Credit Union is helping this year in providing ATM cards as a means of disbursing the cash to the youngsters. Mr Miller, while recognising close to 500 participants in 2013, wants to see double the number for this year and eventually all schools as popularity grows.
The audience learned how a previous winner created a golden apple juice for diabetics and developed a profit in the process, they were also challenged by organisers to review the video of last year’s winner Shakeem Coggins.