Twenty-three entrepreneurs in Bermuda have recently been recognised by the Bermuda Economic Development Corporation (BEDC) for their commendable achievements in various educational courses. These individuals were active participants in the Entrepreneurship 101 and Financial Statements, Planning and Costing Using QuickBooks courses, which took place at the North East Hamilton Incubator Hub.
The Entrepreneurship 101 course, led by Donte Hunt, the director of micro, small, and medium enterprises at the BEDC, was an extensive eight-week programme aimed at providing a comprehensive understanding of small-business management and the formulation of a business plan. It imparted essential knowledge about the process of starting a business in Bermuda, including insights into local regulations, the development of a preliminary business plan, the establishment of crucial business and government contacts, and the creation of a budget to outline start-up expenses. Additionally, the course was enriched by guest experts and testimonials from successful entrepreneurs, further enhancing the learning experience for the participants.
On the other hand, the Financial Statements, Planning & Costing Using QuickBooks course, overseen by Colina Outerbridge, a business data and policy analyst at the BEDC, focused on offering guidance in financial management. Over the course of eight weeks, the participants gained valuable insights into financial planning, interpretation of financial statements, and the fundamental principles of costing for small businesses. The programme covered important areas such as understanding cash flow and income statements, creating and interpreting balance sheets and profit and loss statements, accurate costing and pricing of products, and familiarity with QuickBooks software for effective financial management.
During a celebratory event, Erica Smith, the executive director at the BEDC, commended the entrepreneurs and expressed her hope for a prosperous 2024 for all of them. She highlighted the significance of the skills and insights acquired, emphasising their potential to serve as the foundation for the growth and success of their businesses. Whether the entrepreneurs were embarking on a new venture or seeking expansion opportunities for an existing one, Smith encouraged them to recognise the multitude of possibilities that lie ahead.
The BEDC has continually offered educational opportunities to support entrepreneurs at various stages of their business journeys. The Think Like an Entrepreneur course, for instance, is designed to assist new entrepreneurs in validating their business ideas. Additionally, the BEDC announced that applications are currently open for the Enterprise Bermuda Incubator, which provides an in-depth learning experience for individuals looking to start or develop a business idea.
The recognition of these entrepreneurs serves as a testament to their diligence, perseverance, and commitment to their personal and professional growth. It is inspiring to witness the success of individuals who have dedicated themselves to furthering their education and skills in entrepreneurship, and their achievements are a true reflection of the thriving entrepreneurial spirit in Bermuda.
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