SEED training for potential business owners

Sometimes a person wants to start their own business but finds it difficult to get a business loan from traditional lenders. This is where the Ministry of Social Development and Family Services' SEED grant comes in.

The ministry says its Sowing Empowerment through Entrepreneurial Development (SEED) grant is one mechanism through which it "seeks to further assist and empower those citizens who are considered to be vulnerable or marginalized, but who are also highly desirous of becoming successful business owners."

At present, the SEED grant provides funding of up to TT$15,000 for approved start-ups in various sectors including agriculture, food and beverage, personal care services/products, printing and packaging as well as, retail services. Applicants are assessed via the ministry’s Standard Means Test for eligibility.

More than 50 SEED beneficiaries attended a training workshop – facilitated by lecturer and consultant Ladi Franklin on behalf of the Central Bank – at the University of TT Campus, Valsayn last Thursday.

Applicants are required to complete the training before benefitting from funding.

"Trainees were exposed to highly interactive and intensive sessions about financial management, marketing and customer service, as well as the development of responsible behavioural and attitudinal skills. The session also included some practical elements and role playing," the ministry said.

The next training session will be held in San Fernando this Wednesday for approved applicants from the south-central region.