Y.F.F. facilitates business loans
The loans may be small, but the aspirations are large. Patrick Jones reports on the latest attempt by Youth for the Future to turn young Belizeans into business tycoons.
Patrick Jones, Reporting
The loan disbursement is for approximately twenty thousand dollars. Director of the Enterprise Unit Sandra Bradshaw says the money covers six projects with recipients from different areas of the country.
Sandra Bradshaw, Director, Enterprise Unit
“Young people who have applied for loans and who have gone through our process have been successful, they’re being granted loans to give them a jump start or a head start, or to expand on a business that they may already have.”
The business ventures include block making, food and beverage services, and a fishing operation. Bradshaw says while the young people will be fully responsible for their respective ventures, Youth for the Future will keep a watchful eye on them.
Sandra Bradshaw
“And on a monthly basis along with our youth empowerment officers and the mentors, we will be monitoring and guiding them. Not in a big stick fashion, but in a way that we are there to enhance their business as they go along.”
Geraldine Jones, Loan Recipient
“I’ll be using my money for a clothing business, but now I will be concentrating more on children clothing and footwear as well.”
Patrick Jones
“Why did you decide to go into that?”
Geraldine Jones
“Well because for me right now, now a days, the thing to get head in life is to have your own business.”
Patrick Jones
“Why specifically clothing?”
Geraldine Jones
“Well what happen, a family member of mine had clothing that he was selling and so I just decided to take up from where he left off.”
Like Jones, Silk Grass resident Sherlette Brooks also plans to use her loan to expand on an existing business.
Sherlette Brooks, Loan Recipient
“I will use my money to stock my restaurant and to put an expansion to sell beer and soft drinks and etcetera. And I already have my snack shop. I will sell fried chicken from six until ten at night, I sell garnaches, panades, and so far I’m seeing improvement. It’s really an improvement for me in the village to show the youths that we can do something for ourselves and to not be on the street and get into trouble. So that’s really a good start for me and I’m glad to receive this loan so that I can improve my business.”
Before the money was turned over to the young people, they were given lessons on everything from writing a business plan to proper bookkeeping. Jones says as a budding entrepreneur that assistance is appreciated.
Geraldine Jones
“Well for me as a young person I see this as a great accomplishment because a lot of our young people today feel like something like this they cannot hold through with. And I would advise any young person that first of all they have to know what is it they want in life and with strong will and determination they can accomplish it.”
Patrick Jones, for News 5.
The young entrepreneurs will receive mentoring from volunteers provided by the Belize Business Bureau and University of Belize.
