Featured Presentation delivered by Marcia Brandon, Executive Director, Barbados Youth Business Trust and Regional Coordinator, IDB/MIF Regional Project to Develop Young Entrepreneurs, at the Official Launch of the St. Vincent and the Grenadines Youth Business Trust. March 30, 2010. Rooftop Bar and Grill.

Over the past 14 years we have learnt that youth entrepreneurship is indeed a viable strategy for sustainable development and the creation of decent work for young unemployed entrepreneurial men and women.

We have also learnt that it is not a cure for all unemployed youth, but we have certainly learnt that young people who are encouraged to explore entrepreneurship have become more employable and more productive, engaged citizens and individuals. This is why the Barbados Youth Business Trust (BYBT) is passionately driven to help countries in the region to very practically and creatively train young people in entrepreneurship and establish youth business programmes that will help entrepreneurial youth to start and grow successful businesses.

If the region wants to maximize its youth's potential and benefit from a new breed of vibrant, scrupulous, creative, reasonable risktakers, then it is imperative that strategic actions are taken now in a social partnership synergy. Strategic actions such as the establishment of adequately supported youth business programmes. By adequately supported I mean human resources, financial resources, physical and material resources necessary to enable the impactful operations and reach of these organizations.

Caribbean youth face many challenges including lack of decent jobs, inexperience, mismatch between skills set and the labout market, limited financial resources, lack of appreciation for their youthfulness and limited business networks and contacts. One major challenge that we need to overcome in the region is that of training our young people with no real end in mind or sight. Over the year we have wasted vast amounts of money to train many of our youth in all areas and we have not been able to provide too many of them with follow up job opportunities. We see examples of this all over the region and what we have in effect done is help to kill their dreams, frustrate their efforts and demotivate their aspirations.

Training is very important but what people do with training is even more important. Opportunities must be provided for them to turn that training into wealth creation. So I applaud the Boards and stakeholders of the St. Vincent and the Grenadines Youth Business Trust (SVGYBT). This is the perfect solution to fill the gap between training and what next for the entrepreneurial young man and woman.

But I can tell you from experience that the work has just began and it will require all hands on deck. One han caan clap, it takes a nation to grow a child and all the other good proverbs apply here.

Business mentoring is a critical component of the youth business trusts model. Business mentors are business persons or professionals with over 10 years track record in their areas of expertise and the added ability to pass on skills, knowledge and experiences that they have acquired to a young entrepreneur. Business mentors must commit to the process, make the time to have an impact on the life of the young person they are mentoring and see it and accept it as being just as important as the other matters in their own lives.

In Barbados and within the Youth Business International network, the network of over 35 countries which practice the same brand which BYBT practices, all the impact assessment research results from among young entrepreneurs carried out, have always indicated 75% or higher of the target group reporting that without their business mentors they would not have done as well as they have in business.

The Trust here in St. Vincent & The Grenadines need effective business mentors, people with experience in entrepreneurship, who have the time, have a balanced heart and head equation and the strong desire and drive to make a significant difference in their country. If you are here or you know of anyone who fills this description, please report to Kyron Barker, Shafia London or any of the other Board members pronto. You will not regret this decision. Recruitment of mentors is ongoing and there is a process of selection.

Partnership creation is a vital strategy in the development of any youth development business programme. SVGYBT is no exception. The Government, The Unions, Civil Society, Private Sector and all the other social partners need to be involved in this process and see the organization as a nation building strategy rather than as an isolated, competitive attempt.

Youth business programmes are not focused on lending loans, youth business programmes are focused on a holistic approach to providing the enabling environment towards creating a culture of entrepreneurship and , ensuring that not only does a young person gets the start-up loan capital they need to start a business but they get opportunities to market and promote their businesses, build networks, acquire training and development and social guidance and advice. With all of these services on offer, you can see why YBTs need partners.

The Government, International Development Agencies and Organizations, Corporate St. Vincent and the Grenadines will be key supporters for financial resources necessary to successfully operate this organization. Remember this is an NGO, the third sector, complementing the work of the Government. All the other youth programmmes need to partner with SVGYBT.

In Barbados we have been operating for 13 years. We have over 140 business mentors, over 1000 partners locally, regionally and globally.

However the Government of Barbados and Corporate Barbados are some of our biggest financial and non-financial supporters. The trust is recognized and valued as a nation builder. This did not happen overnight, we had to show our impact. I am confident that SVGYBT will do the same. So let me end with huge congratulations from my Boards and staff, especially Chairman, David Clarke, and all the other Caribbean YBTs. We welcome you whole heartedly into the Caribbean Group of YBTs.

I would also like to thank regional partners Caribbean Development Bank, represented here by Ms. Lisa Harding, FirstCaribbean International Bank and the British High Commission for their ongoing support and invite them to continue.

I pledge my ongoing support and that of BYBT to help in the strengthening of SVGYBT to become strong, successful and impactful.

Marcia Brandon is a youth development entrepreneurship expert. She can be reached at This email address is being protected from spam bots, you need Javascript enabled to view it or This email address is being protected from spam bots, you need Javascript enabled to view it