(CMR) The Cayman Islands Centre for Business Development (CICBD) launched its inaugural ‘Grow Your Business' program, a 15-month initiative to steer businesses through their growth phase.
Nineteen small Caymanian businesses representing various consumer-facing products and services, including jerk chicken, real estate, beauty, and air conditioning, were chosen to participate.
The entrepreneurs will participate in weekly three-hour sessions over 12 weeks between July and October 2022, with training in specific areas that will aid in strategy formulation, decision-making, and increasing productivity.
Each business is assigned to a trained Centre for Business Development advisor, who will help the business navigate the 15 months of working closely with the entrepreneur–including identifying challenges and hurdles, creating and implementing a strategy, and monitoring progress.
The Grow Your Business program is expected to be a rich source of aggregate data and other insights for the Ministry of Investment, Innovation and Social Development and the wider Cayman Islands Government, potentially introducing reforms in policy, regulation, and legislation.