COCI to host workshop on access to financing

PHILIPSBURG–The St. Maarten Chamber of Commerce and Industry (COCI) in collaboration with COSME/European Union (EU) will be hosting a workshop on how to access financing.

The workshop will be held at the Simpson Bay Resort Sales Gallery from 6:00 to 9:00pm February 12-13. COSME is the European Union programme for the competitiveness of enterprises and small and medium-size enterprises (SMEs), which runs from 2014 to 2020.

COCI said in a press release on Friday that the workshop supports SMEs in understanding business concepts and preparing to get access to financing. The workshop will be facilitated by Frans Wittermans and Prakaash Rostam.

The workshop sessions will include topics such as why financing would be needed; an overview of the types of financing; types of finance providers and what they are looking for; advantages of developing a business plan; how to develop a business idea; and how to develop a business plan.

Participants will be expected to participate in an exercise on developing their business idea and preparing a “one-minute pitch”; presentation of their business ideas; introduction to Business Model Canvas (BMC); develop their BMC; how to calculate how much financing is needed; what type of financing and how much will be needed; presentation of financing requests; how a finance provider looks at a loan proposal; and keys to a successful business loan proposal.

Source: The Daily Herald