CBZ Holdings is going to channel $120 000 into Youth Entrepreneurs Programme (YEP), its programme that aims to promote youths to build profitable business ventures. The YEP programme is in its second year running after it was introduced back in 2016.
CBZ’s interest in youths seems to be have found a new impetus given that this year’s YEP edition has received thrice as much investment as last year. Not forgetting that in March, CBZ promised to commit as much as $10 million in the Small-to-Medium enterprises (SMEs) sector.
How will this year’s YEP go?
Youths will get funding after pitching and ‘polish’ their ideas in workshops to be conducted countrywide. Afterwards, YEP will run a competition where winners will receive seed capital.
How many people?
This year, YEP will target 150 to 200 youths from each of the 10 provinces.
Youths eligible for YEP have to be aged between 18 and 35 years.
This year is a bit different
This year’s edition will see CBZ paying attention to the difference between start-ups and (SMEs). According to Newsday; “the start-up category is for businesses at the idea stage or had been operating for up to a year, and will offer a top prize of $7 000, while the established businesses category will be for companies that had been operating for a maximum of three years and has a top prize of $5 000”.
Applying for YEP
To apply click on the following link https://t.co/62GsdnTDQe
Friday 31 August 2018
For more info
You may YEP on 0782 489 653 if you have any questions
The most interesting part about this year’s YEP edition
This is a commendable effort by CBZ as it provides the youth with a chance to participate in wealth and employment creation in the country.
For me, the fascinating part is the introduction of a startups category in this year’s edition. It shows me that CBZ has finally come to understand the difference between SMEs, something that is very critical to know. It’s often the case that the terms start-up and SME (small and medium enterprise) are used interchangeably, but they are not the same thing. Its has been the usual case that some old school institutional investors(such as banks) believe that every small business, like rearing chickens, is a startup.
But no. The major distinction between these two company types is in their top objectives. Small businesses are ventures driven by profitability and stable (risk averse) long-term value, while startups are focused on top-end revenue and growth (risk taking) potential. And when startups do succeed, they usually grow at an exponential rate. Thereby affording investors a good return.