CED participates in Simulation Business Games Workshop

In February, fourteen (14) representatives from Business Support Organizations (BSOs) in select Member States of the Organisation of Eastern Caribbean States (OECS) attended a three-day Simulation Business Games Workshop hosted by the SBFIC in St. Lucia.

The workshop, which ran from February 6-8, was held as part of the Savings Banks Foundation for International Cooperation’s (SBFIC) Eastern Caribbean Eastern Caribbean Central Bank (ECCB) endorsed project to support the strengthening of the financial sector and improvement of access to financial services in the Eastern Caribbean Currency Union (ECCU) by Small and Medium Enterprises (SME’s).

Partners and potential beneficiaries were introduced to simulation board games and preliminary training was provided in the use of the games as a tool to enhance financial literacy.

The participants were exposed to the Micro Business Game, which is a highly interactive training that focused on how the success and sustainability of start-up business can be improved in a practical manner. The overall objective of the Micro Business Game was to experience how to manage a micro business efficiently, using an experience-based approach. Participants learned the crucial principles of managing a business and how to deal with possible challenges and opportunities.

Meanwhile, the Savings Game gave participants the basic economic concepts for managing household budgets, including the selection of a sound financial institution for their savings. This game is designed to help private households, young adults and small family-run businesses that want to manage a family budget successfully, while accumulating savings.

Participants in the workshop were from various business support agencies in St. Lucia, Dominica and St. Vincent and the Grenadines as well as representatives from the ECCB in St. Kitts and Nevis. The Centre for Enterprise Development Inc. (CED) was represented by Business Development Field Officer Nisha Glasgow and Training Coordinator Keisha Phillips.
The workshop was facilitated by Ian Merrifield of BTS responsible for development of the simulation games. He was joined by Inka Rank – Project Manager SBFIC, Bonn as well as Dr. Juergen Engel, outgoing Country Representative of the SBFIC East Caribbean Project.

Representatives from Business Support Organizations (BSOs) in select Member States of the OECS attended a three-day Simulation Business Games Workshop hosted by the SBFIC in St. Lucia.

L-R: IRVIN SPRINGER, FNB St Lucia; NISHA GLASGOW, CED, KEISHA PHILLIPS, CED; and SHERMALON KIRBY-GORDON, ECCB, engage in the Savings Game exercise during the workshop.