March 2, 2021

Cayman: Free advice available to small businesses

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The Cayman Islands Centre for Business Development (CICBD), in the Ministry of Commerce, Planning and Infrastructure, will collaborate with the University College of the Cayman Islands (UCCI) through the Student Consulting Programme to provide free and confidential advice to small businesses.

The ten-week programme, which begins in February 2021, will partner small businesses with upper-level business students at UCCI. The students will provide advice to business owners to solve a particular problem or reach a specific goal.

Director of CICBD, Althea West-Myers said that the programme, which has been running for over ten years through the Ministry, is part of combined efforts to support small businesses. “The Centre was set up to improve small business viability through increased access to finance but also for training, business counselling and advice. So this programme is prefect alignment”, she noted.

Minister of Commerce, Hon. Joey Hew stated that small businesses are a vital part of the local economy and ensuring that entrepreneurs and small business owners receive the support they need is one of the most important priorities for the Ministry, especially at this time.

He further noted, “Government, through the CICBD, has so far implemented a number of measures for micro and small businesses valued over $14 million. This package included grants, loans, technical assistance and training targeted at assisting our entrepreneurs. This programme with UCCI is just another way in which we continue to encourage and develop businesses”.

UCCI Programme Coordinator, Annette Murphy stated that the programme will benefit all parties. “The reason this programme has been so successful is that everyone involved takes away something of value. Business owners will gain free advice and move their enterprises forward, and the students will put their knowledge into practice,” she highlighted.

To participate in the Student Consulting Programme, businesses must:

  • Be an established business;
  • Have a clear problem; a specific area such as accounting or marketing;
  • Express an interest in solving a problem and improving business operations; and
  • Be willing to spend the time and effort with the student team.

The deadline to apply is Friday, January 29, 2021. Interested business owners should email [email protected] for further information.

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