Govt’s business incubator empowering women entrepreneurs
The Ministry of Human Services and Social Security’s business incubator ushers in a new era of opportunity for aspiring and existing entrepreneurs, in an effort to foster empowerment and drive economic growth among women.
The core mission of the business incubator is to provide aspiring entrepreneurs with the necessary tools, guidance, and support to navigate the intricacies of starting and running a successful business.
To achieve this, the incubator hosts business clinics, a vital platform where participants are exposed to the nuances of entrepreneurship.
Business Incubator Economic Empowerment Officer, Nalini Persaud is spearheading the initiative and expressed the government’s dedication and vision in helping to shape the future of small businesses in the region.
“The business clinics play a crucial role in enlightening participants about the challenges and rewards of running a business. Whether they are newcomers in the entrepreneurial world or established business owners seeking growth opportunities, the clinics offer valuable insights into various aspects of business management,” she told the Department of Public Information (DPI) recently.
The transition from the informal to the formal economy is a significant focus at the mentorship facility.
Several individuals in the informal economy have exceptional skills and talents but lack the knowledge and resources to establish themselves in the formal sector, which the incubator aims to address to take their venture to the next level.
Meanwhile, after attending the business clinics, participants gain access to expert assistance in formulating their business plans.
Recognising the constraints of physical accessibility, the entrepreneurial support hub has adapted to the digital age by offering online support as well. This inclusivity ensures that talented entrepreneurs from various backgrounds and locations can also benefit from the programme.
Accordingly, the business incubator is witnessing a remarkable trend, with an increasing number of women entrepreneurs availing of its services, which covers several topics such as how business planning promotes growth, what makes a great business, business plan writing, and what banks look for in a business plan, among others.
In addition, business owners can display their products on the shelves of the business incubator.