SLYBT Successfully Hosts Second Training Under the Chamber’s Small Member Support Programme

ON Thursday 29th July 2021, the St. Lucia Youth Business Trust (SLYBT) successfully hosted a training session on the subject of Financial Planning and Budgeting for Small Businesses. The session formed part of the Chamber’s ongoing Small Member Support Program (SMSP) which affords MSMEs the opportunity to build capacity by providing them with valuable information, skills and knowledge, tools and support services.

The session was held virtually via the zoom platform and ran from 6:00pm to 8:00pm. Facilitated by Mr. Elias Maxius of EMAX Solutions, the two-hour session gave participants a chance to broaden their scope of understanding with evaluating their businesses’ general financial status and the ultimate proficiency of their operations. With the aid of practical examples, attendees were not only challenged to see beyond the conventional business concepts but to see how these concepts further contribute to the ensured survival, and success of their enterprises in the ever-changing and hyper-competitive global marketplace.

What is Financial Planning, What is Budgeting, Types of Financial Plans, What is Financial Forecasting, Benefits of Financial Forecasting, Steps of Forecasting, Forecasted Balance Sheet and Forecasted Income Statement were among the main focus areas covered in the evening’s proceedings.

By all accounts, the information was well received by the attendees who used the final moments of the session to express their gratitude to the SLYBT for facilitating such an edifying session. Financial Planning and Budgeting for Small Businesses was presented in collaboration with Micro Loans by Courts Ready Cash.

An upcoming session on Accounting for Management and Expansion for Small Businesses is scheduled for Thursday 9th September 2021. The Trust and the Chamber are calling on persons who missed the first two training opportunities to ensure that they seize this opportunity and for them to stay tuned to their social media platforms for all training updates.

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