Entrepreneurship can become the third pillar of the BVI economy, this is a firm belief of Mr. Mead Malone whose company MWM Group is gearing up to host free entrepreneurial special events next month.
As part of its entrepreneurship encouragement quest MWM has organized two events: the ‘MWM Business Start-up 2016 – ‘Celebrating Innovation Through Giftedness’ and the ‘MWM Entrepreneurship Forum: 2016 Sustaining the BVI Entrepreneurship Spirit.’ These events are scheduled for April 29, April 30 and May 2.
Both activities were launched on March 9 at a press conference at P&M Studio. During the launch it was announced that the guest speakers at the upcoming forum would be Curt Richardson the founder of Otter Box, and Blue Ocean Enterprise; and Stedman Graham the CEO of Stedman Graham & Associates.
Mr. Malone, the Managing Director of MWM Global Holdings explained that the MWM Start Up program was designed as a platform for businesses to showcase their innovative ideas, products, services and talents under a competitive format. This format, he said, rewards the best in class with funding, training and coaching opportunities to further develop and expand their innovation into successful businesses.
The MWM Managing Director explained that the event will have a competitive and training element. One of the topics that will be covered at the training section of the event will include business fundamentals. Mr. Malone explained that he wanted to incorporate that topic because not knowing the basics of business management has caused many companies to fail.
Mr. Malone said that another topic will aim at clearing the air on what banks require to consider funding for entrepreneurs. He explained that one of the things banks look for to give loans to business is the business’s ability to pay from existing cash flow. Malone said that attendees will learn how to bootstrap their way to success with non-bank financing.
In explaining the decision to host the event, Mr. Malone said: “We would like to be a partner in the effort of making entrepreneurship the third pillar of the BVI economy.”
He recognized the strides being made by the Trade Department, and the Branson Center of Entrepreneurship and said that MWM is playing its part: “Great things are being done to spur entrepreneurship in the Territory, and MWM wants to be a part and involved.”
“We have taken on this challenge, it is a herculean challenge; and we are taking it forward. I think we are making an impact. We are stepping forward to make entrepreneurship something that is very valuable,” Mr. Malone added.
Mrs. Lorna Smith, Member of the MWM Business Network Advisory Committee told the gathering that MWM is on the right track in supporting the efforts of business development in the Virgin Islands.
Mrs. Smith said that training initiatives for entrepreneurs are needed and stressed that Government cannot do it alone: “We need to build the competence of our people in marketing, in finance and developing business plans…We need to have a sustainable program; and with the help of the community it will be sustainable, also with the help of our sponsors.”