Two new small business owners have joined forces to set up their own networking group for women entrepreneurs.

Friends Kathi DeCouto, owner of Fitness and Nutrition, and Mary-Beth Sherwin, who runs PA Services Bermuda Ltd., teamed up to launch the Women's Small Business Network to help women starting up their own companies or are interested to find out more about it, with the first meeting being held at the Royal Bermuda Yacht Club tomorrow lunchtime.

The pair initially came up with the idea to help themselves, with Ms Sherwin being made redundant in October and deciding to go it alone with her own secretarial firm, and Ms DeCouto recently setting up in business as a personal trainer.

But what started out as two women has grown to eight, and they hope to attract even more once word gets out about the group in the wider community.

"We were talking about it for a few months and it has just grown from there," said Ms DeCouto, who got the concept from a women's business group she belonged to while living in Hong Kong.

"Initially it will be a meet and greet and to get some ideas together for the future.

"With the financial situation in the world at the moment and people out of work thinking about setting up their own businesses, we thought this was the perfect time to start something like this."

Ms DeCouto, who runs outdoor boot camps and runs classes at the Olympic Club, the HSBC Bermuda gym and the Chartis gym, said the aim of the group will be to help and support other entrepreneurs and small business owners, with each one complementing the others through their services, whether it be advice and tips on paperwork, registration or the various taxes they need to pay.

"It is tough starting your own business when there are so many well-established business, taxes and registration requirements that need to be met out there," she said. "It will cover everything from small business owners starting out to those that work for companies that may want to do so in the future."

Ms DeCouto, who was a teacher at Berkeley Institute and has travelled extensively around the world prior to setting up in business, said she knew of at least 50 women who want to start their own enterprise and with the opportunities that currently present themselves to those willing to take the leap of faith, the group hoped to fill that niche in the market to assist wanabee business owners.

Ms Sherwin, whose background is in secretarial and administration work, corporate work, sales and management, and has previously worked for the likes of Deloitte & Touche, said it would be largely up to the group members to set the agenda for discussion.

"In September and October last year a lot of people lost their jobs and it was very difficult for them - we had a lot of women with good educational backgrounds and they couldn't find work," she said.

"We knew we had to do something and came up with the idea of a network and that is really what this group is all about.

"In the long run, if we help each other out to get off the ground then we can support each other as our businesses grow."

The Women's Small Business Network, whose mission statement is 'Dedicated to encouraging, assisting, and inspiring woman business owners', also has an educational focus through regular seminars and guest speakers, engendering the values of vision, ambition, independence and risk-taking, in addition to being proactive, responsible and creative.

The Women's Small Business Network's first meeting will be held between 12 p.m. and 1 p.m.

For more information contact Kathi DeCouto on 536-0071 or Mary-Beth Sherwin at 705-2268 or e-mail katharinedecouto@hotmail.com