SNYC local grants applicants undergo pitching training |08 October 2022

The participants who attended the training during the past week in a souvenir photograph with their mentor Peter Roselie

Some twenty applicants trying their luck at securing the local grant on offer by the Seychelles National Youth Council (SNYC) has over the past week attended a training session organised by the institution, in collaboration with business guru Peter Roselie.

The week-long training course is a requirement for applicants aged 18 to 30 years hoping to secure the grant to take their business ideas and businesses to the next level.

Having completed the training, the applicants will all undergo the required pitching exercise, to convince a committee of the reasons why their respective businesses need funding, with the final amount decided by the panel itself.

The training programme was designed by Mr Roselie himself, who commended the SNYC on the initiative which he says is accessible and transparent to local entrepreneurs.

Over the course of the week, he shared his vast expertise and knowledge on the entrepreneurial mindset, focusing on the business model from the second day forward.

Preparing participants for the pitching, which is fast becoming a norm, was also a key aspect of the programme, involving empowering participants with the skills and knowledge to prepare their pitching decks, to build self-confidence and in finance management.

Applicants are to include all of these elements in their business plans.

“Traditionally, we believe that a business plan is the gateway to securing financing, but it is the business model which is important. And these youngsters really do have some great ideas, and when we tweaked the ideas, we also need to give them assistance. They will need more support and mentors.

“One needs to be unique in business, otherwise they will be like the rest. We have a lot of incredible youths, and it is just a matter of showing them the proper way to do business, not the normal way, but the new normal way,” Mr Roselie remarked, also highlighting the need for the youths to put themselves out there, since they need to stand out among larger, established businesses.

Some ideas battling it out for the funds include businesses centred around hairdressing, cake making and baking, among others.

According to SNYC representative Josette Cadence, the grant funds are not disbursed directly to applicants, but rather to suppliers.

“If they secure the grant, they will be given a timeframe within which to set up their businesses, with the time limit stipulated within the contact. During that timeframe, SNYC will afford them all of its support, and assistance, and we even visit them. If however during that time they have failed to set up their businesses, even if payment has been effected to suppliers, they need to reimburse the funds,” Ms Cadence noted.

Over 30 applicants were interested in the grant, although some have been unable to follow through for various reasons.

Over the course of next week, applicants from Praslin and La Digue will also undergo the training.

The pitching competition will see hopefuls from Mahé, as well as the inner islands, with the grant scheduled for disbursement during Entrepreneurship Week in November.

Henry Pillay, a thirty-year-old rock mason hopes to be able to secure the funds to grow his business. Securing funding will not only enable him to purchase more equipment to facilitate his work, but to also make a positive impact towards the local community, by involving other youths, and giving them a start in the trade.

“As a youth, I have a lot of energy and in my prime. I want to be able to stand on my own two feet, and develop my skills even further. Working for an organisation means that I get to learn a lot, but at the same time I want to develop further on my own,” Mr Pillay noted.

Having undergone the training, Mr Pillay said that he found it to be very useful as he has the skills and interest, but lacked the proper management skills to properly run his own business organisation.

“I think it will help to create many opportunities, creating jobs for other youths,” he says of his business.

Laura Pillay