Business
Sunshine Arthur
National Entrepreneurship Development Company Ltd (Nedco) is continuing its drive to support the entrepreneurial journey of micro and small enterprises across Trinidad and Tobago, with the graduation of 40 entrepreneurs from its Business Accelerator Programme (BAP). These participants were part of its Cohort two, launched in 2022 and Cohort three, launched in 2023.
The graduation ceremony was held at the Hyatt Regency, Port of Spain, on April 30.
Clarry Benn, chairman of Nedco said, “This period of business acceleration focused on the participant’s development into competent, entrepreneurially minded individuals with the knowledge and skill set to operate sustainable small enterprises and capable of generating consistent profits, sustainable employment and contributing consistently to the country’s economic activity.”
Participants received over 100 hours of business training in areas like recordkeeping, costing and pricing, customer service and social media strategies among others.
Nedco said its recent graduates have gone on to create employment and attract opportunities within the export market by working with agencies like exporTT.
Foster Cummings, Minister of Youth Development and National Service, in his feature address, congratulated the graduates and noted the government’s commitment to supporting new entrepreneurs.
“I congratulate all of the entrepreneurs who have taken the leap and risks associated with getting involved in business. It is not for the faint-hearted at all to get involved in business and take the decision to step out of the comfort of a salary job. It is something that takes some grit and determination, and luckily for you, you have the support of Nedco and a government that supports young entrepreneurs to take your business where it needs to go.”
He added, that while many young entrepreneurs have great ideas, the transition from ideas to reality can only be made possible through a particular type of support, as seen through Nedco’s business accelerator programme.
“Because we saw where it was heading, we decided to increase the allocation for BAP. I am pleased that in this year’s budget, the programme got a significant increase to $10 million,” he said.
Nedco’s CEO, Calvin Maurice, said the work of the accelerator programme would continue in cohort four.
“Cohort four is on the horizon, poised to build upon the successes of predecessors. We have set ambitious targets, with a projected enrolment of 200 participants across Trinidad and Tobago. This expansion reflects our commitment to reaching more entrepreneurs and empowering them to thrive in a competitive landscape.”
