More incentives for young entrepreneurs |28 May 2015

Young entrepreneurs are being given further incentives to help them grow.

They have been allocated 25% of the lots now being tendered out for servicing and maintaining air condition units in the ministries of health and of education.

The tender process was launched on Tuesday during a familiarisation visit by the Minister for Investment, Entrepreneurship Development and Business Innovation, Michael Benstrong, to the Procurement and Oversight Unit in the Ministry of Finance, Trade and the Blue Economy.

The minister was accompanied on his visit by his principal secretary Marise Berlouis.

According to the principal secretary in the department of finance and trade, Patrick Payet, there are 21 lots on tender, out of which five lots (representing 25% of the total) have been reserved for youth owned businesses subject that along with other seasoned businesses they meet all the qualification criterias outlined in the tender documents.

The lots are grouped per regions and cover schools and health centres. For example, one lot for the North can comprise Bel Ombre primary school, Beau Vallon primary and secondary schools and Beau Vallon health centre.

The tender will remain open for a period of six weeks to allow businesses to get their qualification documents in order so that they can take part.
Minister Benstrong said that his ministry places a lot of emphasis on the development of young entrepreneurs and as such is working closely with the finance department to create more opportunities as well as targeted incentives for them.

“The Procurement Unit plays a big part in the Ministry of Finance, Trade and the Blue Economy where it award contracts, and we welcome the initiative taken by the government with the Ministry of Finance to outsource these types of activities as this creates a positive environment for entrepreneurs to gain access with business related activities and in turn increase their wealth,” said Minister Benstrong.

He added that his visit to the Procurement and Oversight Unit has allowed him to be updated on its operations and to better understand its functions which will help interaction between officers of his ministry and that of finance.