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The European Union funded COSME Programme, launched a 3 day Small Medium Enterprise Start and Develop Your Business (SME-SDB) entrepreneurs training program in the BVI



The European Union funded COSME Programme, launched a 3 day Small Medium Enterprise Start and Develop Your Business (SME-SDB) entrepreneurs training program in the BVI, which will also be extended to all the other 11 Caribbean Overseas Countries and Territories (OCTs).


In collaboration with the BVI Chamber of Commerce and Hotel Association and one of its members, Ballast & Capel Ltd., this SME-SDB Entrepreneurs Training Program was coordinated and executed by Mr. Prakaash Rostam, Key Expert SME & Private Sector Development Specialist. International Development and Management Consultant/Trainer, Mrs. Luesette Howell was contracted to assist with this activity.

The FREE training sessions saw enthused local participants with various businesses, taking part in the informative sessions. Participants also spoke of the wealth of knowledge gained and were happy to see such a program offered in the BVI. Participants went on to say that, the need for such activities is very high. Being business owners and potential business owners, they looked forward to be able to set up a profitable business in the near future.

At the opening ceremony, held at Ballast & Capel Ltd. on Friday February 5, Mr. Rostam emphasized on the institutional capacity building as being an important ingredient for the sustainability of entrepreneurs. He identified the combination of knowledge and skills in business development & management as a key factor for every entrepreneur. "As the playground for entrepreneurs is getting more global, we should be aware of the global rules of this game of entrepreneurship". This approach will be evaluated after the first training to see how this program can best be put to use in a sustainable operational structure.

Entrepreneurs throughout the 12 Caribbean Overseas Countries and Territories (OCTs) shouts for direct assistance and support in starting their businesses and also even further developing their companies, as the global economic challenges puts them on the operating table. Awareness, skills development, knowledge transfer and sharing information in the most extensive form, has been identified as some of the key success factors for Small Medium Sized Enterprises (SMEs), especially in the OCTs.

Also speaking at the opening was the BVI Chamber of Commerce and Hotel Association (BVICCHA) Chairman, Mr. Louis Potter. Mr. Potter remarked that the BVICCHA continues to partner with various groups, agencies and institutions. This is encouraged to promote stronger business development in our territory. Mr. Potter went on to encourage participants to become a member of the BVICCHA, an organization that encourages business opportunities and business efforts.

The kickoff of this very extensive program was decided to be in the BVI, since the main base of the EU-Regional SME Project Office is located in the BVI. The Government of the BVI carries the responsibility for this EU funded COSME programme, particularly the Financial Secretary, Mr. Neil Smith, being in the position of the Deputy Regional Authorizing Officer/Territorial Authorizing Officer. The Ministry of Finance is fully supporting the idea of directly assisting SMEs and more pragmatic approaches to support entrepreneurs to be sustainable.

The COSME Programme, the final programme under the 10th EDF Regional Programme for the Caribbean Overseas Countries and Territories, OCTs was launched on April 1, 2014 on the Island of Tortola (BVI). The programme's overall objective is to contribute to the sustainable and climate-resilient economic diversification and prosperity of Caribbean OCTs. This will be accomplished by improving the competitiveness of Small and Medium-sized Enterprises (SMEs) in the participating territories. All activities extends to Anguilla, Aruba, Bonaire, British Virgin Islands, Cayman Islands, Curacao, Montserrat, Saba, Saint Barthelme, Saint Eustatius, Saint Maarten, Turks and Caicos.


For further information, please contact Contact: Mr. Prakaash Rostam
Key Expert SME & Private Sector Development Specialist
10th EDF Caribbean OCT SME (COSME) Programme/ EU-Funded
"Improving the Business Environment for SME's in the Caribbean OCT's"
Ministry of Finance of the British Virgin Islands, Road Town, Tortola, BVI
Tel: +12843460801




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