New guide for entrepreneurs

  • Erica Smith, executive director of the BEDC

    Erica Smith, executive director of the BEDC


Entrepreneurs have been offered a start-up guide by the Bermuda Economic Development Corporation.

The “How To Start Guides”, uploaded on the BEDC’s revamped website and available as hard copies from the BEDC office, are designed to give free advice to businesses.

BEDC says it has a modern design and user-friendly template and gives businesses access to “even more tools and resources”.

The ten guides include advice on starting a retail business, a restaurant or food service business, a personal care business, a daycare or residential facility, a transportation business, a consulting business, an automotive or motorcycle business, and three tourism specific businesses — concessions, vacation rentals; and watersports and boat charter businesses.

According to the BEDC, the information in each guide is specific to Bermuda’s local market and has been put together using years of experience providing effective business advice to entrepreneurs.

The guides provide information on the requirements of setting up a business within each industry that is Bermuda-specific, and advice and resources for good business practices such as financial preparation, market research, and creating a business plan.

Each guide contains important questions that every new business owner should consider before starting a business or buying an existing business.

The BEDC adds that its small business toolbox includes documents ranging from a business plan checklist to preparing your personal financial statements.

The website also includes up-to-date event information for BEDC’s wide range of seminars, lunch and learns, and multi-week courses that are perfect for budding entrepreneurs as well as established business owners looking to take their business to the next level.

Erica Smith, BEDC’s executive director, said: “The How To Start Guides have been created from knowledge that the BEDC has provided to many who have launched successful businesses over the years.

“These guides, along with the other resources offered by BEDC, should be the first stop for any entrepreneur looking to start a business or buy an existing business in Bermuda.

“They provide an excellent framework for all the questions you need to ask yourself before taking the leap into starting a business.

“Entrepreneurs are also welcome to book an appointment with one of our experienced officers for any further assistance they might need to begin the process of starting, and in some cases, growing their own business.”

How To Start Guides can be accessed on the BEDC website at www.bedc.bm under the services tab under Starting A Business.

For more information about the How To Start Guides, or to pick up a hard copy version, call 292-5570 or e-mail info@bedc.bm

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Published Nov 29, 2018 at 8:00 am (Updated Nov 29, 2018 at 8:11 am)

New guide for entrepreneurs

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