Put your business idea into action

Even the best entrepreneurs need a helping hand. This week as, part of Global Entrepreneurship Week, the Bermuda Economic Development Corporation is hosting a range of events to help people make connections, gain fresh insight, inspiration and knowledge and — of course — secure new business. The BEDC runs the Economic Empowerment Zone and the next few editions will be reporting about the zone’s scope and its mission. We will also look at what others do — in the Cayman Islands, for instance, they have ‘Enterprise City’, which gives tax breaks and cuts red tape. We hope you’ll find the series useful and enlightening.  

To connect, to engage, to inspire and to mentor, these are the four goals of Global Entrepreneurship  Week. 

Jamillah Lodge, business development officer for the Bermuda Economic Development Corporation, told the Bermuda Sun, the events are aimed towards those who are entrepreneurs or who are interested in entrepreneurship.

She said:“All the events we have lined up for the week are geared to those four goals in some form or another.”

The Sixth Annual Rocket Pitch winners will be announced on Thursday. Ms Lodge said there are three categories this year: Pitch Tech, Pitch Pink (tourism) and Pitch Town. 

“We’ve had the most entries this year, mainly because it’s the first time we’re had three categories. We used to just do one category before and we would get between five and 14 entries… but this year we have about nine in each category. This is also the most amount of money we’ve ever given out as well thanks to our sponsors: the Department of E-Commerce for Pitch tech, More Pink Bermuda sponsored the Pitch Pink and then BEDC sponsored the Pitch Town. 

Ms Lodge said one of the highlights is the Entrepreneur Mixer being organized by Nhuri Bashir and being sponsored by Gosling’s, which donated the space and drinks.

“This is exciting as the idea is to get young entrepreneurs together and let them have conversations about some of the challenges they face and why they decided to be an entrepreneur. Hopefully, this will inspire others while connecting the more seasoned entrepreneurs to each other.”

Today is very focused as young people as there will also be a BPSU Youth Workshop. 

“The BPSU came to us saying youth unemployment was high. My response was “it’s high, but what can we do about it? So we decided to hold a workshop to introduce young people to the idea in a space that people are not really hiring like they used to be so what can they do to change their own situation?”

She said the Adult Education School joined in on this partnership. Ms Lodge said some of the topics include on how to identify an opportunity in the marketplace. Owen Millett, who started Green Star Wash, will make a presentation to the young adults. The BPSU will cover the topic of customer service and how important it is for new businesses. The Ascendant Group will cover mentoring and the support there is in Bermuda for that. 

“Last but not least, we have to cover the topic of financing and the importance of resources,” Ms Lodge said. “We’ll provide them with the understanding of what is required to manage your own business with regard to financing.” She added for those who graduated from the Adult Education School “Okay, you’ve got your GED, but nobody is hiring, Now what? You can go and start your own business.”