Keen to further burnish its image as an ardent supporter of the small business community Scotiabank, on November 26, announced the winner of its business plan competition, which was launched in collaboration with the Georgetown Chamber of Commerce and Industry (GCCI) in September, as one of the bank’s Small Business Week initiatives for 2014.
The $300,000 business account prize was awarded to Lester Woolward and Samantha Austin of the start-up entity C-Post Couriers, which was described by the bank as “the most comprehensive and bankable plan” of those submitted.
A release from the bank stated that seven entries were received from entities in various sectors including online shopping, retail distribution, seasoned meats, organic juice production and sales, and clothing design and manufacturing.
And in a subsequent communication to Stabroek Business the bank disclosed that it is also looking at the initiation of “a business boot Camp targeting youth entrepreneurs” sometime in the first quarter of 2015.
Commemorated annually in September, Small Business Week is used by Scotiabank to promote various initiatives in support of small business growth and development.
The evolution of Scotiabank’s profile as a small business supporter in the banking sector has taken place against the backdrop of a sustained local lobby for more commercial bank support for small and medium-sized enterprises in the face of investment capital constraints which those entities face.
Scotiabank pointed out in its communication with Stabroek Business that its menu of small business initiatives have included partnership with Guyana Fashion Week to promote small business lending opportunities for local fashion designers and the launch of the bank’s Professional Plan, a suite of banking products tailored to meet the needs of various categories of professionals including lawyers, doctors, engineers, accountants and pharmacists.
Scotiabank has also been a major sponsor and presenter at the GCCI’s Entrepreneurship Workshop.
Apart from its online tips for small businesses, Scotiabank also continues to offer a range of online tools and resources for small business management, including its Business Plan Writer and Cash Flow calculator as well as tips on management and marketing.
It continues to promote its seminars for small business customers on bookkeeping, business plan writing and marketing.
Scotiabank also informed this newspaper of its plans to partner with the Chamber to undertake additional workshops/seminars for small businesses in several areas including preparing financials and marketing.
