Business Support

Step One

The Barbados Youth Business Trust offers a coordinated and comprehensive program that assists young people to develop necessary skills and attitudes that they need to become successful entrepreneurs.

The program encompasses start-up loans; business affiliated grants; business mentoring and ongoing and consistent business support, which include training and development, networking, marketing and promotion, among others.

Loans/Grants

Step Two

The Barbados Youth Business Trust’s Loan program is a private sector initiative made possible by partnership with the voluntary sector. The Trust provides micro-credit and personal mentoring along with advisory and marketing support services, in order to encourage and nurture a new generation of Barbadians in business.

Looking for Business Support or Loans/Grants? Contact Us Today!

Business Support

Barbados Youth Business Trust promotes Youth Entrepreneurship Development by providing persons with the necessities to start up a business.

Our successful business strategy has been providing an integrated package of business support which includes: mentoring, training and other developmental support services to young persons interested in starting a business.

We offer:

Business mentoring on a one-on-one, group, specialist and cluster basis
Needs and Competency Based Training,
Personal Development,
Networking opportunities,
Marketing & Promotion,
Social intervention and Counselling,
Advocacy,
Community engagement and Outreach,
Internships,
Library and Internet Services,
Incubator

Loans & Grants

General Requirements & Regulations

Funds are available for start ups and businesses five (5) years old and under. The Business, once developed, must be the primary source of employment for the applicant. Barbados Youth Business Trust funds must be used for start up or expansion costs, not for the refinancing or existing debts.

Businesses financed in whole or in part by the Barbados Youth Business Trust must comply with all health and safety legislation and be adequately insured.

The maximum amount of financial assistance that the Barbados Youth Business Trust will extend to any one applicant is, in the aggregate, Bds. $30,000.00.

Business & Business Development Loans

Business Loan – Up to $25,000.00
The loan must be used to acquire fixed assets and/or to use as working capital and/or to fund further training to establish the applicant in his/her chosen profession, trade, craft or service.

Business Development Loan – Up to $25,000.00
Available during the first five years of operation to a business that has the potential to expand but is unable to raise adequate financing. BYBT should not be the only funding partner, but funds should at least be matched by other sources. Business Development Loans must not be used to refinance existing debt with the exception of any small residual remaining on a BYBT Business Loan.

The Trust also makes available Loans/Grants up to a maximum of $1,000 per business or $1,000 aggregate (for education) as follows

Feasibility

A request for Feasibility Study funds should be supported by a well developed business proposal that shows why test marketing or study is essential. A description of the study to be undertaken should include details of :

Any questionnaire/survey to be conducted
The number of potential customers to be approached
The production of any samples or prototypes
Estimated costs associated with the study
Any other relevant information.
GO & SEE

Go and See assistants is intended to help young entrepreneurs who would otherwise not have the resources to investigate possible new business markets. Preference will be given to export oriented businesses or businesses requiring the development of specific expertise not available locally. Request will be considered where the business is unable to underwrite the costs or to raise necessary funds
EDUCATION

Up to $1,000.00 (in the aggregate)
This form of financial assistance may be extended by way of a direct loan or a grant for continuing education at a recognized learning institution in Barbados.

Applicants must be engaged currently in their own business venture, have been in the said venture for the past twelve months and intend to continue the business uninterrupted during the proposed study period.

The educational/training course to be undertaken must be directly related to the enhancement of the applicants business and/or technical skills.

Report Submission Requirements

All recipients of the foregoing grants/loans are required to submit a report on completion of the visit/survey detailing its results and the impact on the business. Any revisions to be made to the business plan should also be outlined.

Details of expenditure of Barbados Youth Business Trust’s funds must also be attached, accompanied by receipts.

Interest Rates

The Trust reserves the right to change the interest rate from time to time by giving due notice to its clients.
Rates, however, are expected to vary between 10-12% per annum.

Download Loans Application Forms & Resources