UNC Youth Arm set to Launch Youth Enterprise Workshop

The objectives of the Youth Entrepreneurs Development program include:

• To stimulate young people’s  self-esteem, sense of belonging, solidarity and commitment in order to develop their entrepreneurial capacity and that of their community.
• To guide beneficiaries through the process of designing and creating their own business and get necessary financial support.
• To help youth generate greater resources in order to invest them to improve their family’s standard of living

PROJECT DESCRIPTION

The program addresses these primary barriers through its major components, which establishes linkages with existing local organizations to provide business mentorship/support and micro-credit assistance respectively.

1. Life Skills and Entrepreneurial Training Workshop – This consists of a one-day Life Skills Workshop and an intensive seven (7) session training workshop. (See outline below)

2. Business Plan Development Workshop – This is a comprehensive four (4) session training workshop in addition to the Entrepreneurial Training Workshop which will seek to equip youth with the knowledge and skills necessary to create a business plan.  Participants will be required to submit a draft business plan for review at the end of the training.  This draft business plan will then be reviewed and assessed by a panel of business mentors who will provide advice to the participants on how to improve their business plans. 

Structure of Workshops:

3. Business Proposal and Access to Credit/Seed Capital – Participants will use the advice and assistance provided by their business mentors to submit their completed business plans, which will be forwarded to a micro-finance partner institution.  The program will include partnerships with local micro-finance institutions.  To obtain necessary seed capital for getting the business started, JATT would link each beneficiary with an appropriate micro-financier.  The aim is to develop the participants into excellent candidates for a micro-credit loan. 

4. Post Monitoring Support: Business Development Support and Consultancy –Successful participants who are granted capital will be provided with business development support during the initial start-up stages and operations of their business. This support will be in the form of business consultancy service for a period of six months for 4 hours a month.

5. Assistance with Registering a New Business – If applicable assistance and support will be provided to participants in registering a new business as well as applying to the Board of Inland Revenue (BIR), the National Insurance Board (NIS) and acquiring a Value Added Tax Number (VAT).

PROJECT TIMELINE

The Project will be launched in Mid February and will run for a period of 8 weeks with training as follows –  

DATES AND TIMES FOR TRAINING WORKSHOPS

PANEL REVIEW OF BUSINESS PLANS – The participants’ business plans will be reviewed during a two-week period. During this period, appointments with the review panel will be schedule for participants so they can justify and defend their business plans and receive feedback on any modifications to be made