Monrovia, Liberia- The Ministry of Commerce and Industry in partnership with the Business Startup Center (BSC) Monrovia, with support from UNDP, is pleased to announce the Youth Startup Business Plan Competition 2022 for young, ambitious youth interested in starting their own businesses.
According to press release from the UNDP, the Competition targets 300 youth drawn from seven counties: Montserrado, Grand Bassa, Grand Cape Mount, Grand Gedeh, Sinoe, Nimba and Lofa counties, who will participate in two days of business skills training, and competition for business start-up grants of USD500.
The youth will learn about business planning and present their business ideas to a panel of judges in the hope of securing grants of up to US$ 500.00. They will also benefit from coaching and mentorship support when developing and refining their business ideas.
The competition starting now to 17 November 2022 aims to foster entrepreneurship among Liberia’s youth, identifying their needs and challenges, and developing innovative and creative solutions.
It is expected that applicants will come forward with business ideas from all sectors of the economy including agriculture, information technology, transportation, food processing, manufacturing, and along all values chains about the key sectors.
UNDP and the Government of Liberia through the Ministry of Commerce and Industry are working to support the development of a strong and vibrant private sector through business development.
Last year, the Business Plan Competition attracted 320 applications from the seven counties: Montserrado, Grand Bassa, Grand Cape Mount, Grand Gedeh, Sinoe, Nimba and Lofa counties. The best 53 applicants were invited to the business skills and pitch training. 52 entrepreneurs/businesses access grants between US$ 500 – US$ 3,000.00 to start and expand their enterprises.
The ideas cut across all sectors including agriculture, information technology, transportation, food processing, manufacturing, etc. These businesses are expanding their operations and providing goods/services to their clients and contributing to economic growth and development.