The Organisation of Eastern Caribbean States (OECS) Commission invites growth- oriented, innovative and opportunity focused entrepreneurs from the Eastern Caribbean to participate in the inaugural Sustainable Development Movement (SDM) Business Model Competition 2020.
Based on consultations with regional entrepreneurs and Business Support Organisations (BSOs), to diagnose key issues affecting the scalability of start- ups in the entrepreneurship ecosystem, a number of challenges have been identified.
One of the most significant challenges facing entrepreneurs is access to experienced investors, coaches and mentors to guide them in scaling their operations.
This situation is further exacerbated by the onslaught of the COVID-19 global pandemic on the business sector, particularly micro, small and medium-sized enterprises (MSMEs).
The pandemic and the mitigation measures if continued over an extended period of time threaten to render many business models obsolete and irrelevant.
With this being said, the SDM Business Model Competition is not only relevant but timely and forms part of the Commission’s response to strengthen the capacity of MSMEs as we assist with the recalibration of business models connected to a strengthened entrepreneurship support ecosystem.
The OECS is, therefore, facilitating the opportunity for entrepreneurs to pitch their business ideas to investors.