BOSL and SEDU address money management in small businesses


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PRESS RELEASE – Bank of Saint Lucia and the Small Enterprise Development Unit (SEDU) of the Ministry of Commerce Business Development, Investment and Consumer Affairs this week partnered for the hosting of the first in a series of free Basic Financial Management Workshops for small businesses on the island.

The first workshop took place on Tuesday August 26th 2014 at the ICT Centre on Bourbon Street, and was geared towards small business owners and managers.

The programme featured two distinct segments. The first was ‘A Practical Guide to Bookkeeping’ hosted by accountant Randall Alexander.

The second segment entitled ‘An Introduction to Banking’ was delivered by Mr. Cornelius Sidonie – Manager of the BOSL Gros Islet Branch and Mr. Bryan Vidal, Customer Relationship Executive.

The BOSL team covered key topics such as the requirements for opening business accounts, accessing credit, and common pitfalls and how to avoid them.

Approximately 30 entrepreneurs participated in the engaging and interactive workshop. Subsequent workshops are slated for September 2014.

The workshops form part of Bank of Saint Lucia’s financial literacy thrust – to empower people with information necessary to make sound financial decisions. This is a key component of the ECFH Group’s Corporate Social Responsibility.

BOSL is gearing-up for Financial Information Month (FIM) to be hosted by the Eastern Caribbean Central Bank in October.

Financial institutions from across the Eastern Caribbean Currency Union will embark on a series of outreach activities including school and community presentations, panel discussions and article submissions aimed at educating and empowering the populace to make sound financial decisions to improve their quality of life.

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