The sessions inform new entrepreneurs of the basic but essential aspects of starting a business.
The Small Enterprise Development Unit (SEDU), also known as the Small Business Development Centre (SBDC) of the Department of Commerce, International Trade, Investment, Enterprise Development and Consumer Affairs is hosting monthly Business Start-up Essentials workshops.
The workshops form part of the mandate of the Department of Commerce to facilitate entrepreneurial development and growth of the Micro, Small and Medium Enterprise (MSME) sector in Saint Lucia.
The Business Start-up Essentials workshops target new clients who recently started or intend to start a business and want to acquire the guidance and knowledge needed to better manage their business. Training is held on the third Thursday or Friday of every month. The focus is primarily to inform new entrepreneurs of the basic but essential aspects of starting a business, and to provide an understanding of the environment within which they will be operating.
Some of the topics covered include an Overview of the services of the Small Business Development Centre (SBDC), the Evaluation of a Business Idea, Developing a Business Plan, Business License and Permit Requirements, Choosing a Business Name and a Legal Structure, the Importance of the IRD and NIS, and Sources of Financing.
Overall participants have indicated appreciation for the sessions and have requested similar workshops in areas such as Financial Management, Product Costing and Pricing, Business Plan Development Marketing, and Customer Service. The Department of Commerce is working towards including these areas in subsequent training sessions.