8 People Complete Vendor Markets Seminars

June 4, 2015

A certificate presentation was held today [June 4] at the offices of the Bermuda Economic Development Corporation [BEDC] in order to celebrate eight individuals who completed all three seminars in the Vendor Markets Seminar Series, with Junior Minister of Home Affairs Sylvan Richards on hand to offer congratulations.

Junior Minister Richards said, “As you know, the Bermuda Economic Development Corporation [BEDC] is Bermuda’s premier source of free confidential business advice for entrepreneurs. Its mission is to serve Bermuda’s local business community with the highest degree of professionalism by providing, authoritative business advice; counsel and loan guarantee support.

“While it is a well-known fact that the BEDC supports established brick and mortar businesses, what isn’t as well known is the fact that the BEDC has an active programme supporting and developing vendors and vendor markets.

“The Government’s Vendor Market initiative was launched in May 2008 by the BEDC as a pilot project that would support and encourage micro-enterprise within our community. The goal of this program was to develop successful vibrant markets that would promote entrepreneurship at the most fundamental levels.

“This initiative has now become well established. We are excited that all markets the BEDC supports – The St. George’s Olde Towne Market, The Rubber Tree Market in Warwick, and The Hidden Treasures Market in Somerset, have grown in a number of ways over the years. We are also excited about the launch of the newest Vendor Market facilitated by the BEDC.

“The Uptown Market was launched on May 23rd 2015 right in the heart of the NE Hamilton Economic Empowerment Zone on Court Street.

“Markets are great testing grounds. Owners can learn the basics of operating a small business which can help them to move their business to the next level all within a safe and structured environment. Due to the reduced overhead expenses the Vendors are able to offer affordable pricing during a time when many families are attempting to have their dollars stretch further.

“One example of this natural progression includes a group of Vendors that participated in the Rubber Tree Market in Warwick who have now banned together to establish a retail establishment. This growth is largely attributed to the partnership and business support provided by the BEDC.

“Since launching the Vendor Market Sites initiative, over 200 vendors have registered with the BEDC and the number continues to grow. It is estimated this number is low as it only reflects those vendors who have registered themselves and does not account for the many more who have not registered.”

Vendor Market Seminar Series

“BEDC continues to see growth in this sector as many turn to vending as a way to make ends meet, while giving them the opportunity to take their first steps into entrepreneurship. I encourage those interested in vending or getting business support in general to register with the BEDC on their website or visit their Offices on Church Street.

“As a member of the BEDC Business Register, vendors are able to receive business guidance and support and financial backing through the BEDC Clarien Micro-loan. BEDC is committed to connecting vendors to opportunities and as such, will also circulate information to vendors on pop-up and established markets, such as recently released information on America’s Cup opportunities.

“The BEDC remains vigilant in its mandate to support vendors and the vendor markets through vendor training, market knowledge, as well as the provision of site materials.

“One of the BEDC’s key goals is to strengthen the vendor market industry and provide avenues for micro-enterprise to grow in Bermuda. Hence, the development of this series of skills development workshops for the benefit of all vendors.

“This is the BEDC’s second year running the Vendor Market Seminar Series and it was designed to expose vendors to all the government requirements and information that they need to know so that their business venture can be successful and operate at the highest standards. BEDC sees growth opportunities for micro-enterprise hence our attention to this industry.

“The first workshop, titled Vending 101 – How to Start-Up and Tips & Techniques for 2015, allowed attendees to learned the skills needed to start up, enhance their displays, provide superior customer service, and generate a buzz in these challenging economic times.

“The second workshop, titled Merchandising for Success, focused on strategies and tips to help vendors with merchandising and using social media to attract customers. The third and final workshop titled, the Business of Vending, provided attendees with the opportunity to learn about mobile Point Of Sale equipment to help drive sales, tourism opportunities, and business planning basics.

“At each of the seminars there was an opportunity to hear about the 4 vendor markets BEDC supports and speak to organisers about how to participate

“The Vendor Markets Seminar Series was hailed a success with over 150 people in attendance over the series. Those who attended all three seminars are today being awarded with a Certificate of Professional Development. We are here to celebrate 8 persons who completed all 3 seminars. These 8 have shown their commitment and dedication to sharpening their saws to make their established or “soon to come” vending businesses the best it can be.

“Congratulations and well done on your achievements. I wish you the very best in your future vending ventures,” added Mr Richards.

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  1. Whistling Frog says:

    Is this all apart of Bda. Small Business? or is it a combination of others put together to form the Bermuda Economic Development Corporation?