First 2020 Micro & Small Business Workshop A Resounding Success

Paula Smith, Financial Controller of CIDC presenting at the Small Business Workshop.


Tracey Ebanks, General Manager and CEO of CIDC presenting at the Small Business Workshop.

The first in a series of 12 free workshops targeting micro and small businesses, individuals and aspiring entrepreneurs was held on Thursday, January 30, at the Chamber of Commerce Training Centre in Governors Square. Approximately 40 persons, representing a wide cross section of small-sized businesses and start-up entrepreneurs, were in attendance, and the participants declared the event as a resounding success.

The workshop focused on Financial Planning and was facilitated jointly by Tracey Ebanks, General Manager and CEO of the Cayman Islands Development Bank (CIDC), and Paula Smith, Financial Controller of the CIDC. Both women boast significant skills and experience in financial management, as well as in establishing, running and advising small businesses.

Thursday’s workshop provided participants with practical advice on strategies for sourcing cash to start a business, preparing realistic budgets and key indicators to watch in monitoring a budget. The participants also benefited from valuable guidance on how to manage various business-related risks. The workshop facilitators adopted a relaxed and interactive approach which encouraged attendees to ask questions and gain helpful answers, based on their specific industry or individual needs.

Workshop participants had high praises for the facilitators and expressed enthusiasm about attending follow-up sessions. The next workshop will be held on Thursday, February 20, and based on popular demand, will focus on preparing financial business plans and completing and submitting business loan applications.

The free workshop series are being put on by the Chamber of Commerce in partnership with the Ministry of Commerce, Planning and Infrastructure, and are designed to provide micro and small businesses, individuals and aspiring entrepreneurs with training and guidance on starting, running and successfully growing a business. One workshop will be held each month between January and December 2020. To date, over 1,200 micro and small business owners and other entrepreneurs have benefitted from 46 workshops.

Persons who own micro or small enterprises and other entrepreneurs or business-minded individuals in need of training or guidance are invited to view upcoming workshop and register for the February 20 workshop by clicking on the link below.

https://issuu.com/caymanchamber/docs/chamber_training_centre_schedule_2020

Interested persons may also call the Chamber of Commerce at 949-8090, or email [email protected] for more information.