NEDCO, in collaboration with the ILO, offers one of the largest global business management training programmes. The strategic focus of this programme is to assist small-scale entrepreneurs to start and grow their businesses and by extension create improved employment. SIYB is an adaptable and simplistic programme that can be efficiently rolled out to a large number of entrepreneurs. This training mechanism also allows an Entrepreneurial Trainee to be supported through the growth phases. Being all-encompassing, an entrepreneurial trainee can obtain training and support from the generation of the business idea, start-ups, including initial and periodic business planning of the idea, building of the start-up after the first year of operation and expansion of the business and scale-up of operations.
Derived from the International Labour Organization (ILO), the SIYB training cycle comprises four (4) interconnected stages: Generate Your Business (GYB), Start Your Business (SYB), Improve Your Business (IYB), and Expand Your Business (EYB). Each stage primes entrepreneurs for the subsequent phase of the business cycle, employing experiential learning methods to furnish them with the requisite skills and strategies for commencing, nurturing, and scaling their enterprises.
Stages of the Training Cycle
Stage 1 :
Generate Your Business (GYB) –
The Generate Your Business Idea (GYB) course caters for potential entrepreneurs who desire to start a business but are uncertain of which business idea to pursue. Through a series of engaging modules, potential business owners will learn to explore various business ideas all with the aim of determining the most feasible option to develop into a successful business.
At the end of this training, YOU would be able to:
- Assess your potential to become a successful entrepreneur,
- Brainstorm a list of ideas from several sources of business concepts,
- Clearly explain any business idea that you are considering,
- Select the best ideas to create a feasible business.
Cost: $600 TTD
Contact: 18 hours
Stage 2
Start Your Business (SYB)
The Start Your Business (SYB) programme caters to potential entrepreneurs with feasible business ideas who are ready and prepared to turn that idea into a sustainable business. Start Ups also include entrepreneurs who are already in business and are looking to diversify that business.
At the end of this training, YOU should be able to:
- Describe the content of a business plan
- Consolidate your business plan
- Translate your business idea into a completed business plan
- Assess your readiness for a starting a business
Modules:
- Introduction to Business Planning
- Reinforcing your Business Idea
- Marketing plan
- Staffing
- Organization and Management
- Buying for your Business
- Costing your Goods and Services
- Financial Planning
- Start-up Capital
Cost: $900 TTD
Contact: 30 hours
Stage 3
Improve Your Business (IYB)
Already have a business? The Improve Your Business (IYB) programme is designed for existing entrepreneurs desirous of improving their business processes through good principles of business management.
At the end of this training, YOU should be able to:
- Explain the benefits of business planning;
- Develop plans to improve your business;
- Use the plans to improve your business.
Operational Modules:
- Marketing
- Costing
- Buying and stock control
- Record Keeping
- Planning for your business
- People and productivity
Cost: $1,200 TTD
Contact: 40-42 hours
For information on ways to access these modules individually, please contact the Business Development Training Officer at 821-5800 ext.2067, tyee-springer@nedco.gov.tt
Stage 4
Expand Your Business (EYB)
The Expand Your Business (EYB) programme provides growth-oriented entrepreneurs with the practical tools for business growth, assisting them through training and non-training intervention with a focus on business strategy.
Modules:
- Marketing
- Operations
- Human Resources
- Financial and Strategic Management
Cost: $1,500 TTD
Contact: 60 hours
For information on ways to access these modules individually, please contact the Business Development Training Officer at 821-5800 ext.2067, tyee-springer@nedco.gov.tt