Clint Chan Tack
THE Massy Group on Monday said it is playing its part to help entrepreneurial growth throughout the Caribbean by providing a newly formed social enterprise, Nudge, with US$1 million in funding.
In a statement, Massy Group’s president and CEO Gervase Warner said, “The Massy board of directors has approved an initial expenditure of the equivalent of US$1 million to develop and deliver programs to entrepreneurs across the region, including pop-up points-of-sale in our Massy Stores, as well as for investment in worthy entrepreneurs.”
He said Massy will “work with several other institutions and businesses with similar intents to give these micro and small businesses a ‘nudge’ towards their success. We believe that the recovery of the economies in which we operate will need significant entrepreneurial activity and energy.”
He added that Nudge was launched earlier this year to help small local businesses by offering them space in selected Massy Stores in TT to increase their exposure and boost profit margins.
Warner said Nudge will be launched in Barbados and St Lucia in early 2021.
The project is being championed by Massy Group senior vice president (People and Innovation) Julie Avey and her co-founder, fashion designer and serial entrepreneur Anya Ayoung Chee, who saw a need for special attention to be paid to the region’s entrepreneurs,
Ayoung Chee said, “Many of our local and regional entrepreneurs have been displaced owing to the internet revolution and economic inactivity coupled with the current covid19 pandemic, and we saw the need to empower people to set their own future and foster a spirit of invention and ingenuity.”
The statement said Nudge has three tiers of activities. These are: training and development for budding entrepreneurs exploring ideas for their own business; support for artisans and micro-entrepreneurs with products seeking exposure to markets; and support to entrepreneurs through Massy governance, networks, training and in some instances funding.
Avey said with Massy’s support, Nudge will work with several other institutions and businesses to give these micro- and small businesses a “nudge” towards their success.
“We believe that economic development is shaped by the injection of entrepreneurial activity. We view this as an important contribution from Massy.”