The Youth Entrepreneurship Scheme (YES) has generated BDS $1.3 million in income.
This was revealed by Manager of YES, Selma Green, while delivering remarks at YES??? end-of-year Networking Forum, last Friday at the official residence of the British High Commissioner, Pine Hill, St. Michael.
While highlighting some of the achievements of the programme, Mrs. Green said: ???This year, YES assisted in creating 12 new youth???owned businesses; expanded eight existing businesses; assisted in generating 45 new jobs and retaining 108 existing jobs; as well as increased the earning capacity of 16 businesses to generate $1.3 million in income, as of November 2014.???
The YES Manager believes that Barbadian youth were showing that they had the ability, the willpower and the determination to pursue various business ideas that have in turn stimulated public interest and generated revenue.
???Many young people are following the path of entrepreneurship because it is a powerful vehicle for opening up wealth and job creation opportunities,??? she pointed out.
She thanked a number of individuals within the Ministry for assisting the organization, as well as the individuals who came to them for assistance.
???To our young entrepreneurs??? a heartfelt thank you for trusting us with your dreams and aspirations for having faith in us to guide you on your journey and by your fine examples, putting a spotlight on self-employment as a worthwhile career options.???
During his remarks Minister of Culture, Sports and Youth, Stephen Lashley, praised the YES Programme for its continued hard work, dedication and commitment to assisting entrepreneurs on the island.
He noted that without the support of YES and its networking partners, the programme, which is dedicated to assisting aspiring entrepreneurs, would not be as successful. He also credited the programme with encouraging Barbadians to take more risks in business.
???We are apparently known as being not too keen on taking risks, but I know that one of the principles that YES would always focus on is the importance of taking business risk, but within the context of a mechanism that can move you towards success,??? Mr. Lashley said.
The Minister was also of the view that the YES programme should be expanded to provide even more support to emerging small businesses, which he believed would significantly benefit the economy.
???While we are emerging from a recession, we have to build sustainability. We have to build an economy that will remain robust, one that will not fall at the first sign of a global economic crisis. I believe that underpinning all of that must be a very firm and robust entrepreneurial class. We have it in Barbados, all we have to do is to nurture it,??? he added.
YES will celebrate its 20th anniversary in April 2015.