Most Read Contributor in Cayman Islands, September 2016
A popular medium for local commerce hopes to encourage budding
entrepreneurs into business by providing a public platform for
their commercial visions.
The Department of Commerce and Investment (DCI) is seeking young
people between the ages of 15 and 21 to compete in the Business
Plan Competition at its Small-Business Expo, taking place on
Saturday, 18 April, at the Family Life Centre. The event is going
into its third year, having previously been billed as a celebration
of Cayman Entrepreneurship Day.
DCI Director Ryan Rajkumarsingh said the competition allows the
expo to cultivate an entrepreneurial spirit in Cayman's
'Owning a business is an unmistakable aspect of Cayman
society and undoubtedly, many young people are motivated to be
entrepreneurs through family and friends being in business', Mr
Rajkumarsingh said. 'The younger generation brings a fresh
energy and greater creativity to our local business environment. By
showcasing youngsters and their business ideas, we hope to keep the
entrepreneurial spirit embedded in Cayman's future'.
The competition, which allows students to present as individuals
or groups of two, calls for participants to formulate a business
plan and present their ideas to a panel of judges. The top three
presentations win cash prizes, with first place earning $300,
second place nabbing $200 and third place taking home $100.
DCI Business Services Officer Thais Ducent said the student
competition has been a successful aspect of past events.
'We have staged the competition at previous expos and
we've been consistently impressed with the ingenuity of the
students', Mrs Ducent said. 'We look forward to the unique
ideas these youngsters will present, in an environment where small-
and micro-business owners will exhibit their goods and services to
the general public, network with other business owners and learn
best practices in a cost-effective manner'.
Key features of this year's expo include technical
workshops; face-to-face meetings with accomplished entrepreneurs;
and a cocktail reception and business networking event.
The expo is intended to increase awareness of the variety of
micro and small businesses in the local market, stimulate immediate
sales for exhibitors, provide insight into the special needs of
businesses in crisis, and educate a wider audience about the
services DCI provides to local commerce.
Sponsors for this year's expo are Hurley's
Entertainment, Information and Communications Technology Authority
(ICTA), KPMG, Cayman National Bank, Royal Bank of Canada, Dart,
Cayman Enterprise City, AI Equipment Rentals, Chamber of Commerce
and Radio Cayman.
The deadline for registration in the Business Plan Competition
is Thursday, 2 April.
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