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The Why’s of Entrepreneurship Presented by Sherrilene M. Collymore Project Co-ordinator University of the West Indies Cave Hill Campus.

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Presentation on theme: "The Why’s of Entrepreneurship Presented by Sherrilene M. Collymore Project Co-ordinator University of the West Indies Cave Hill Campus."— Presentation transcript:

1 The Why’s of Entrepreneurship Presented by Sherrilene M. Collymore Project Co-ordinator University of the West Indies Cave Hill Campus

2 The Why’s of Entrepreneurship Welcome Bienvenue Bienvenido What is the significance of self-employment for the University student or graduate today? Is this for everyone? Is it for you? Today, more than ever, it is important to ask yourself this question. Now, let us explore subject together… Welkom

3 The Why’s of Entrepreneurship Ground Rules Courtesies & Positive contributions only please Turn off mobile telephones for the duration Be open Have a good time

4 The Why’s of Entrepreneurship Intelligence & Intellect How would you differentiate between these two words? Is it significant to the subject of success? It is one thing to be ‘bright’, it is another altogether to use ‘wisdom’ in your decision making. This is the challenge to our students and graduates… how to apply both effectively

5 The Why’s of Entrepreneurship Sustainability & Longevity What do these two words mean to you? Are they significant to the subject of success? To be sustainable, an activity has to utilise resources which can be replaced or renewed relatively easily. The longevity of any activity and therefore its success are reliant on the degree of sustainable resources applied to it.

6 The Why’s of Entrepreneurship Evolution – As times are changing A different world, a different Caribbean The Caribbean is positioned ‘in the middle’ between the ‘Developed’ and the ‘Developing’ World. This gives us access to the ‘best of both worlds’. Our region is recognised for its relatively high Quality of Life vis a vis that of the two extremes, i.e. low perceived risk, high levels of education. Let us optimise this!

7 The Why’s of Entrepreneurship What’s working with us? Observe, read the markets, note the trends Emerging industries in the areas of culture Personalised services of every kind especially in creative sectors Wellness, health, new technologies…

8 The Why’s of Entrepreneurship Which skills? What do you think is most required for the successful business at this time? Your interpersonal skills far outweigh your necessity for academic skills ‘Social’ capital is highly valuable today, especially for start-up businesses Reputation is greatly important to lend to referrals, recommendations and reduce the cost for marketing and advertising

9 The Why’s of Entrepreneurship Which attitudes? What mindset must you approach the successful business with? An open mind has much value, not only to allow you to see opportunities when they come in, but to give you that resilience which is necessary for successful business. If you cannot see the glass as ‘half full’, you have a problem…

10 The Why’s of Entrepreneurship Which values? Reflect on what the world needs now (co- operation vs. competition) Funds are limited to ‘safe’ investments, which is a challenge for new Businesses until you have a reputation to speak of Invest in your network until you are able to present yourself legitimately Your network in turn will provide useful contacts for your enterprise YOU NEED PEOPLE! Start to value your relationships!!

11 The Why’s of Entrepreneurship Who is going to help? Private sector / Donor community Government University Their interests? DEVELOPMENT Demonstrate an interest in your own, your country’s, your region’s or your world’s development, and you will have full support.

12 The Why’s of Entrepreneurship Next steps Stick with us! Help us to build our database; network = social capital You decide where you want to go. We will facilitate your ideas, your development, your process. The network will help you to grow naturally and competitively

13 The Why’s of Entrepreneurship SEED Agenda Mentoring and one on ones on business life and self sustenance –Partnering with Barbados Youth Business Trust, a best practice Enterprise Development entity and other reputable entrepreneurs The sharing of information, pointers and resources –Workshops, consultations, ‘middle man’ activities Sustainable business ideas and involvement with the community

14 The Why’s of Entrepreneurship Thank you! Let’s start asking questions…!


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