Island Luck launches 1M scholarship fund at COB

Wed, May 4th 2016, 11:10 AM

The Island Luck Cares Foundation launched a scholarship fund program worth $1 million for eligible Bahamian college or high school students yesterday at The College of The Bahamas' (COB) Harry C. Moore Library.

At the launch, COB, in partnership with OWN Bahamas, Island Luck's business-starter funding program, also publicly recognized seven winners from the OWN Bahamas Entrepreneurship Program.

The winners were granted $10,000 to $25,000 and the opportunity to work with the Island Luck Cares team to develop their business ideas. Starting on May 6, the winners will also enroll in a course called Small Business Development for Entrepreneurs.

Speaking with Guardian Business, Director of the Small Business Development for Entrepreneurs course Lorraine Jones explained further initiatives of the course. The winners will have an opportunity to travel to China for 11 days as a part of their training.

"When they are finished the course, they will have coaches that are organized by OWN Bahamas and each person is assigned a coach until the business is well established," said Jones.

The course will be held at COB's auditorium A, on the third floor of the Michael Eldon Complex Thompson Boulevard from May 6 through June 24.

OWN Bahamas launched the program in March 2015. Its second class, so to speak, was launched on January 28 2016. The objective of the program is to assist the winners with financial support, mentorship and business education that will allow them to run a successful business.

The course is aimed at informing the winners about key issues involved in starting a business. Topics will include steps in starting a business, business formats, market research tools, account software, principles of business ethics and the importance of fiscal prudence.

Some objectives of the course are to conduct value-added tax (VAT) registration and submissions, register a company, construct or contract a business plan and assess a business opportunity.

Click here to read more at The Nassau Guardian

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