In a major step toward strengthening youth entrepreneurship, the St. Lucia Social Development Fund (SSDF) and the Youth Economy Agency have signed a Memorandum of Understanding (MOU) to formalize their partnership in supporting young business owners.
John Victorin, Executive Director of the SSDF, explained that the partnership primarily targets young people between the ages of 15 and 35. “This MOU will ensure that at least within the initial year, 50 participants of our programs can access training, mentorship, grants, and seed capital in the form of loans to start their own micro-enterprises,” he said.
Victorin added that the initiative aligns with the SSDF’s broader mandate to alleviate poverty and empower the most vulnerable. “One of the extremely important livelihood pathways is entrepreneurship. This partnership will help us better target participants to access resources to start and grow their businesses.”
Bryan Vidal, CEO of the Youth Economy Agency, emphasized the complementary nature of the two organizations’ work.
“Rather than duplicating efforts, we decided to combine our resources to strengthen the MSME sector in Saint Lucia. SSDF provides training for young entrepreneurs, and we do as well. By partnering, we ensure that our efforts are efficient and impactful,” he said. Vidal also noted that the formalized arrangement builds on years of informal collaboration between the two agencies.
The MOU marks a significant step in creating a synergized support system for youth entrepreneurs, providing training, funding, and mentorship to help young Saint Lucians build sustainable micro-enterprises and contribute to the island’s economic growth.
