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College programme empowers entrepreneurs

The College of The Bahamas’ School of Business has joined with the Inter American Investment Corp (IIC) to carry out a diagnostic methodology for SMEs known as FINPYME. 

Thursday, September 30, 2010
Thursday, September 30, 2010

Three assistant professors in The College of The Bahamas’ School of Business have been trained in the Inter American Investment Corp (IIC) diagnostic methodology called FINPYME.

Bernadette Robins, Michael Rolle and Jose Velasquez can now deliver a 60-hour long detailed evaluation of each SME selected for the diagnostic and the economic environment in which it is operating.

To qualify, the SME must have been operating for at least three years, preferably have independently audited financial statements, annual sales of at least $150,000 and operate, or be willing to operate in compliance, with national environmental and occupational safety laws and regulations.

SMEs that complete the FINPYME diagnostic review receive a plan of action outlining what steps the company should take to make the necessary changes in its operations so that they are better prepared when making long-term financing requests. Companies may also be eligible for technical assistance to address the needs identified through the diagnostics.

The college also has special courses for entrepreneurs, with the focus on small business management and entrepreneurship.

These specialty courses teach principles and practical applications, such as developing a business idea, producing feasibility studies and creating business and marketing plans.

"The official clothing brand of The Bahamas," 242 People Clothing Co, is looking to expand its apparel line, and branch out internationally, according to young CEO Ranard Eric Henfield.

Eighteen students begin the College of The Bahamas' inaugural MBA programme. The 19-month course combines course work, research, experiential and team-based learning.

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