Key stakeholders in the development of youth entrepreneurship attended a two-day consultation to create an effective ecosystem for a structured Youth Entrepreneurship Development Plan.

The consultation, which took place on April 24 and 25 was a collaborative effort between the Department of Youth Affairs and Sports; H. Lavity Stoutt Community College; Department of Trade, Investment Promotions and Consumer Affairs; and the Caribbean Overseas Countries and Territories Small and Medium Enterprises (COSME) programme.

Premier and Minister of Finance, Dr. the Honourable D. Orlando Smith, OBE said, “The consultation is an indication that entrepreneurship in the BVI is growing, especially as it relates to developing the skills of this Territory's entrepreneurs. This step goes hand in hand with the efforts of this Government, which is working towards further strengthening the existing agencies and policies to better assist with entrepreneurs' needs.”

The Premier said that the Government takes a very futuristic approach to governing this Territory, and to providing every possible opportunity for the development of young people.

Acting Director for the Department of Youth Affairs and Sports, Mrs. Brenda Lettsome-Tye said, “It is important to recognise the various agencies that have created platforms for the development of youth entrepreneurship. Therefore it is imperative for us to not duplicate efforts, but instead pool resources and expertise in creating a sustainable pathway that would best serve our youth entrepreneurs.”

The Acting Director added, “Together we pledge to work collaboratively to build upon this foundation and to fulfil the process of developing a sustainable framework for youth entrepreneurship.”

Youth Entrepreneurship Expert, Dr. Marcia Brandon, facilitated the consultation by presenting the best practice youth entrepreneurship development model to stakeholders. Additionally, she explained how stakeholders could contribute to the effective development of this ecosystem; how stakeholders can work together to synergise and create value through team work exercises; and how to set realistic, attainable and reasonable timelines.

The COSME programme specialises in the development of the small and medium enterprises in the 12 Overseas Countries and Territories, and was launched on April 1, 2014 on Tortola.

The overall objective of the programme is to contribute to the sustainable and climate resilient economic diversification and prosperity of Caribbean Overseas Countries and Territories by improving the competitiveness of Small and Medium Sized Enterprises in the participating territories.

Photo Caption:  Group photo of Stakeholders who attended the National Stakeholders Consultation on Youth Entrepreneurship. (Photo Credit: GIS/Franklyn Skerritt)