Castries, Saint Lucia – 28 June, 2024 – Close to 100 young entrepreneurs took advantage of opportunities to network with and learn from experienced business leaders, thanks to the Youth Economy Agency (YEA) business mixer. The event was held at the Finance Administrative Centre in Pointe Seraphine, under the theme, "Know Your Rights: Legal Empowerment for Young Entrepreneurs."
The keynote address was delivered by award-winning musician, singer, and songwriter Mr. Teddyson John, who shared his experiences and perspectives on the theme.
The main segment, a panel discussion hosted by YEA Monitoring and Evaluation Officer, Ms. Lindsay Phillip, included Teddyson along with attornies at law, Ms. Jadia Jn Pierre; Ms. Natalie Glitzenhirn-Augustin; Mr. Giovanni James; and labour relations practitioner, Mr. Nicolai Lansiquot.
Participants gained vital information that will aid them in structuring their businesses, protecting their work, and understanding how the law correlates with their ventures. A very active question-and-answer section continued long after the formal proceedings, with participants engaging in lengthy conversation with the panellists.
Also in attendance at the event were Ambassador of the Republic of China (Taiwan) His Excellency, Peter Chen; Permanent Secretary in the Ministry of Commerce, Ms. Sophia Henry; Acting Deputy Permanent Secretary in the Ministry of Youth Development and Sports. Mr. Rohan Lubon; and Executive Director of the Saint Lucia TVET Council, Mr. Allan Perry Thomas.
The YEA Business Mixer serves as a cornerstone event in Saint Lucia's entrepreneurial calendar, fostering networking, learning, and empowerment among young business leaders. For those who missed this year's event, YEA encourages participation in upcoming events planned throughout the year.
The Youth Economy Agency recently joined the Saint Lucia Chamber of Commerce, Industry, and Agriculture (CCIA) to offer a Costing and Pricing Workshop, with a special focus on young entrepreneurs.
The Chamber cites costing and pricing as "a critical element in business success," leading the CCIA to offer what it describes as a definitive workshop. Focused on the needs of the MSME Sector and budding entrepreneurs, this workshop was intended to have a significant and game-changing impact on attendees.
Originally part of Chamber’s Mind Your Business Development Series, this signature workshop is designed to equip small business operators with the critical knowhow needed to develop effective costing and pricing strategies in an easy to apply manner. The Youth Economy Agency joined the Chamber in making this workshop available to a number of YEA Clients across the island. In fact a second Workshop is being planned for Vieux Fort and there is hope that other partners will join the Chamber and the YEA in making the important skills, tools, and knowledge that will be shared in the workshop available to as many business people as possible.
The in-depth workshop was Facilitated by Mr. Benjamin Menald, a highly experienced and knowledgeable financial expert who provided participants with immediately applicable tools to be utilized in their businesses. The workshop sessions were held over five days in June 2024. The sessions were run from 5:30 -7:30 p.m. and were deliberately set that way to minimize disruption to the business operations of the MSME’s.
This workshop is designed to be useful to goods and services providers as well as to those who import and export as specific modules and cases studies were utilized to impart the relevant knowledge. The Workshop was hosted at the Chamber Training Room, on the 2nd floor of the Bois D’Orange Commercial Center in Bois D’Orange, Gros Islet.
Castries, Saint Lucia | 26 June 2024 – Capitalizing on the success of last year's inaugural initiative, the Youth Economy Agency (YEA) has launched its second Mentorship Programme, aimed at cultivating and nurturing young aspiring entrepreneurs.
The official orientation ceremony for the 2024 Mentorship Programme took place on Wednesday 26 June 2024, at the Blue Coral Conference Room on Bridge Street, Castries. The gathering of mentors and mentees received addresses from YEA Chief Executive Officer, Mr. Bryan Vidal; Chief Operating Officer, Mrs. Khrystal Riviere; and Training and Development Officer, Ms. Olivia Jn Baptiste.
The event marked the beginning of a four-month journey where forty-five (45) aspiring entrepreneurs will receive invaluable mentorship from twenty-four (24) seasoned business consultants, entrepreneurs, and professionals. YEA witnessed a surge in interest compared to last year’s fifteen (15) mentors, who served as coaches to thirty (30) mentees over six months. From all accounts, the first Mentorship Programme was a great success, helping the youth-led businesses better prepare to compete and succeed.
This year's mentors bring expertise in fields including banking and finance, business management, customer service, human resource management, and marketing. Mentors will convene weekly with their mentees to explore avenues for enhancing their businesses, exchanging ideas, and identifying networking opportunities.
The mentors are as follows; Mr. Andrew Robertson, Mrs. Aretha Auguste, Mrs. Donna Bobb-Hinkson, Ms. Camille Paul, Mrs. Cindy Emmanuel-McLean, Mr. Dave Headley, Ms. Glenda Lesfloris, Mr. Jerson Badal, Mr. Kelvin Jn Baptiste, Ms. Kentilia Louis, Ms. Leona Edward, Mr. Lyndell Halliday, Mrs. Mauricia Thomas-Francis, Ms. Michelle Samuel, Ms. Miranda George- Arthur, Ms. Nadiege Amorsingh, Ms. Natasha Pascal, Mr. Peter Lorde, Ms. Samantha Mauricette, Ms. Sonia Polius, Dr. Thecla Fitz-Lewis, Ms. Vernelle Joseph, Mrs. Vernessa Henry-Long, and Ms. Yasmine Francois.
YEA continues its mission to uplift and upskill the next generation of Saint Lucia’s business leaders. Further to the Business Planning training now underway, and the recently concluded Business Readiness Workshop, YEA is also inviting young entrepreneurs to visit its office or website: www.youtheconomy.lc for assistance to transfer their hobbies into entrepreneurship, skills into businesses, and for further investment in their enterprises.
Castries, Saint Lucia | 18 June 2024 – Approximately 60 aspiring Saint Lucian entrepreneurs are set to accelerate their path to success through the Youth Economy Agency. Following the successful conclusion of its first two cohorts, the Youth Economy Agency (YEA) is excited to announce the commencement of its third Introduction to Business Planning Training.
Previous iterations have resulted in YEA impacting over 160 trainees, each of whom was eligible for the award of an XCD $5,000 grant. Upon successful completion of this third programme, trainees will be awarded grant funding of up to XCD $1,000.
Over the next three weeks, the training aims to guide participants in:
- Gaining a solid understanding of what a business plan is, its purpose, and why it's crucial for their ventures.
- Understanding the purpose and importance of a business plan in securing funding, making informed decisions, and guiding their businesses to success.
- Receiving practical guidance on market research, financial projections, marketing strategies, and operational planning.
- Networking and collaborating with fellow participants.
The registration and orientation exercise took place on Friday 21 June, at the YEA office on #27 Chaussee Road, Castries. Classes began on Monday 24 June 2024. In the north, two hybrid classes will be held at the YEA office: one from 9:00 a.m. to 12:30 p.m. and another from 4:00 p.m. to 7:30 p.m. The first two days and the last week of the evening class will be conducted face-to-face in the conference room, while the remaining sessions will be held online. In the south, classes will be held at the Vieux Fort ICT Access Center from 9:00 a.m. to 12:30 p.m.
Upon conclusion of the classroom sessions, registrants will participate in an Elevate Your Pitch training workshop, on 25 and 26 July. This workshop is designed to help the incipient entrepreneurs better prepare for presenting to the panel.
YEA continues to elevate the nation’s young entrepreneurs through training, in keeping with its mandate to empower Saint Lucian youth by creating the space for them to turn hobbies into entrepreneurship and skills into businesses.
Young Saint Lucian entrepreneurs now have greater opportunities to succeed, thanks to a Technical Cooperation Agreement (TCA) signed between the Taiwan Technical Mission (TTM) and Youth Economy Agency (YEA) on Tuesday, 30 April 2024.
With financial and other support from the TTM, 420 young Saint Lucians will be able to participate in advanced training workshops, thereby equipping them with the skills needed to succeed in a rapidly evolving economy. They will also receive training in investment to help them become more financially literate and empowered.
The young entrepreneurs will also get the opportunity to represent Saint Lucia at the prestigious Global Youth Trends Forum in Taiwan, to not only expand their horizons, but also create valuable networking opportunities. Moreover, 420 youths will receive grants of up to $1,000.00.
In his remarks at the signing ceremony held at the YEA’s office on Chaussee Road, Castries, H.E. Peter Chia-Yen Chen, Taiwan’s Ambassador to Saint Lucia, congratulated the YEA for its remarkable achievements and transformative impact of various initiatives on the lives of young Saint Lucians through a variety of interventions over the past year.
“By providing access to funding, mentorship, networking opportunities and capacity-building workshops, YEA has been steadfast in its mission to nurture the entrepreneurial spirit among the youth, and the Government of the Republic of China (Taiwan) is glad to have a reliable and trusty partner like YEA so that our program can run successfully,” said Ambassador Chen.
Ambassador Chen also commended Hon. Prime Minister Philip J. Pierre’s pledge for the youth economy, and his leadership and commitment in creating an enabling environment where young entrepreneurs can thrive and innovate, and where every young person has the opportunity to fulfill their aspirations. On behalf of the Government of Taiwan, Ambassador Chen also presented five laptops to YEA.
“Together with the Government of Saint Lucia and partnering organizations, we can harness the power of youth entrepreneurship to drive innovation, create jobs, and foster sustainable economic growth,” Ambassador Chen said.
Hon. Philip J. Pierre, Prime Minister and Minister for Finance, Economic Development and the Youth Economy & Minister for Justice and National Security, thanked the Government of Taiwan for continuing to invest in the people of Saint Lucia, including making a difference in the lives of young people.
“Ambassador, I want to tell you that you are doing for this agency something that I cherish,” Hon. Pierre said in his remarks. “I really cherish it because this country cannot survive if the young people in this country do not buy into a certain level of philosophy…of being better than their parents. This generation must do better than the last generation.”
According to Mr. Bryan Vidal, Chief Executive Officer of the YEA, the financial support from the Taiwanese Government will empower young entrepreneurs to launch or scale their businesses, drive innovation and create jobs within the micro, small, and medium enterprises sector.
“These initiatives are not just about providing resources; they are about building a brighter future for our youth, fostering closer collaboration between agencies engaged in youth development, and ultimately contributing to the economic growth of our nation,” said Vidal.
Meanwhile, Mr. Thomas Leonce, Chairman of YEA, expressed gratitude to the Government of Taiwan, saying that unwavering financial and technical support from Taiwan has been instrumental in the YEA getting its footing.
“The Republic of China (Taiwan) has become more than a friendly contributor to the YEA, more like family, in a short space of time,” Leonce said. “The initial show of confidence back in 2022 may very well have served as an impetus for other countries, agencies and entities to get involved and to get behind the mission of the Youth Economy Agency.”
On 7 March 2023, after months of anticipation, the Youth Economy Agency was officially launched at the Finance Administrative Centre. The vision of Prime Minister and Minister for Finance, Economic Development and Youth Economy, Hon. Philip J. Pierre, the agency is intended to provide avenues for entrepreneurs and aspiring entrepreneurs aged between 15 and 35 to get access to funding, training, marketing support, import concessions, mentorship and more to help develop their emerging businesses.
At the launch, the Prime Minister explained that YEA will pave the way for Saint Lucia's young people to be able to play a greater role in the island's economic affairs and have a genuine say in nation-building.
"You need a youth economy, because you need an agile, flexible organization that will allow young people to convert their hobbies into entrepreneurship, and their skills into business," he shared. "The Youth Economy Agency will try to have an economic space for young people, an area where young people can bring their dreams... The sky is really the limit. And we must be brave, we must be daring. We must not be so pessimistic. We must not look at the glass always half empty. The glass is half full.”
He further emphasized the importance “of having more confidence in ourselves as a people and confidence in our ability."
Since presenting the first 11 grants at the launch in March 2023, YEA has impacted the lives of hundreds of young Saint Lucians through a variety of interventions. YEA has processed over 1,000 grants to budding business owners island wide. The agency has also extended approximately 500 training and mentorship opportunities. Veteran professionals have imparted knowledge to their up-and-coming counterparts via Business Mixers and an Investment Forum.
YEA has also benefitted from local, regional, and international partnerships, working closely with organisations such as Export Saint Lucia, Invest Saint Lucia, and the Ministry of Commerce. The Republic of China (Taiwan) has supported the work of the agency from inception. And the conclusion of a loan agreement with the Caribbean Development Bank in the last quarter of 2023 has laid the groundwork for YEA to expand its workplan.
Entering its second year of operation, Chief Executive Officer, Mr. Bryan Vidal, is looking forward to building on what he views as a solid foundation, with the main focus being on exceeded expectations.
"In our first year, we have been able to touch the lives of many young Saint Lucians in a very positive way, and we can see how a lot of these businesses have grown from strength to strength with our support," he noted. " We are excited about year 2, we will focus on efficiency by continuing our grant allocations and delivering on our loans mandate. Through greater collaborative efforts with other stakeholders, we will further expand our training programme. We are hoping that our second mentorship programme will reach more than twice as many businesses, and we are eager to start disbursing loans to our young entrepreneurs."
With the advent of YEA, the nation's hopeful young entrepreneurs are one step closer to realising their dreams of successfully owning and running their own businesses. YEA remains open to applications from youth who want to convert their hobbies into entrepreneurship, and their skills into business.
Application forms can be accessed via the YEA website.
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