Business
BVI entrepreneurs receive training from Branson Centre
By MERRICK ANDREWS, Online News Editor
(JTV News) — Twenty-one British Virgin Islands (BVI) entrepreneurs have completed the Branson Centre of Entrepreneurship’s four-month accelerator programme and collected their certificates on January 26, 2023, at the Eileene L. Parsons Auditorium, according to a news release from the H. Lavity Stoutt Community College (HLSCC).
Those who received Certificates of Completion were Aneika Smith, Arona Forbes, Carlie Stanislaus, Dale Mapp, Darrell Ruan, Gabrielle Bardo, Gail Young, Hubert Lennard, Joyceln Ricketts, Kezia Allen, Kristol Penn-Hadaway, Neressa Fraser, Petrona Davies, Riiah Durante, Ruben Mingo, Sandi Boyce, Sasha Creque and Sherry-Ann James.
Shakelah Harrigan, Julie Swartz and Derick Ambrose received Certificates of Participation.
Topics covered in the programme were: Preparing for the Pitch and Developing the Pitch Desk, Developing a Winning Business Model, Growth Strategy, Marketing: Branding and Customer Engagement, Accounting Principles: Statements – Check and Balances; Sales Forecasting and Enterprise Value, Competitive Analysis and Maximising Sales.
According to the release, the programme included a week-long investment readiness BootCamp, a 12-week virtual platform training, and access to mentors and coaches, which provided entrepreneurs with additional training to assist them in navigating the economy, expanding their knowledge, refining their pitch decks, and growing their businesses.
“The Branson Centre of Entrepreneurship supports the development of entrepreneurs through a unique combination of three core activities: Training entrepreneurs to structure their business for growth; holding entrepreneurs accountable for their growth plans through a mentorship programme; and preparing entrepreneurs to access and efficiently manage funding,” the release said.
Vice President of Academic Affairs at HLSCC, Dr. Arlene Smith-Thompson, was quoted as saying in the press release that as part of the college’s strategic plan, “we pride ourselves in partnering with institutions such as the Branson Centre for Entrepreneurship and Unite BVI in the provision of training opportunities that seek to build workforce capacity and reduce unemployment in our territory”.
CEO of the Branson Centre of Entrepreneurship Caribbean, Lauri-Ann Ainsworth, said in the release that her organization was “thrilled to be back in the BVI, supporting and empowering local entrepreneurs through our accelerator programme”.
“We are proud to have played a role in the development of these innovative enterprises and look forward to our continued efforts in fostering the entrepreneurial ecosystem in the BVI,” Ainsworth said.
The programme was funded by Unite BVI, according to the release.
Business
BVI Financial Investigation Agency and Jersey Financial Services Commission Sign Agreement to Strengthen Cooperation in Tackling Financial Crimes
The Financial Investigation Agency (FIA) of the British Virgin Islands (BVI) has recently strengthened ties with the Jersey Financial Services Commission (JFSC) through a Memorandum of Understanding (MoU) signed on 25 October. The agreement formalises a cooperative framework for consultation and information-sharing between the two regulatory bodies, enhancing their oversight in financial regulation.
The MoU signals a shared commitment by the BVI and Jersey to uphold rigorous financial standards and combat financial crimes. By sharing essential intelligence, the FIA and JFSC aim to bolster efforts to detect, prevent, and investigate crimes such as money laundering, terrorist financing, and proliferation financing.
Errol George, Director of the FIA BVI, expressed the importance of the partnership, stating, “The signing of this MoU establishes a framework for information exchange between the FIA BVI and JFSC, supporting compliance with the laws, regulations, and rules relating to the functions of our Authorities. I am indeed pleased with the progress we are making in the Territory to tackle financial crime.”
Through this agreement, both agencies will, upon request, provide critical information that strengthens regulatory practices across the Designated Non-Financial Businesses and Professions (DNFBP) sector. Shared data will include details on corporate structures, management standards, and organisational quality, all essential for effective supervision.
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Business
Virgin Islands Secures $100 Million Loan to Drive Infrastructure and Community Development
Business
FirstBank Customers Accounts Show Zero or Negative Balances Electronically
– Persons Accessing Cash In Bank
This morning account holders at 1FirstBank awoke to discover that their online account balances had disappeared. A widespread issue, affecting both personal and business accounts, has left customers unable to access their funds, with many reporting negative or zero balances on the bank’s digital platform.
The issue was discovered early Tuesday morning when users attempting to log in to their accounts were met with unsettling balances, with some even seeing their accounts marked as overdrawn despite no recent transactions. Several customers described seeing a balance of zero on their account’s home screen despite previously having substantial savings.
“I thought it was just me, but when I called a friend who banks with FirstBank, they had the same problem,” said the account holder. “It’s incredibly stressful, especially since there’s been no word from the bank yet.”
The problem, which seems to have affected customers across the territory, has prompted many to visit local branches in person. Several individuals reported being able to access their accounts once they arrived at the bank. However, the disruption has rendered ATM services and card transactions nonfunctional, leaving customers unable to withdraw cash or make payments.
JTV News reached out to 1FirstBank, where a representative confirmed that the electronic banking system is currently down and the matter is being addressed at the international level. Customers were advised that, for the time being, they would need to visit a branch to resolve any issues, as card swipes and ATM withdrawals were temporarily disabled.
While FirstBank has yet to release an official statement on the cause of the outage, customers are growing increasingly concerned about the safety of their funds. The nature of the problem—whether it is a technical glitch or something more serious like a security breach—remains unclear.
At this stage, it is unknown when the issue will be resolved or if all accounts will be restored to their proper balances.
The financial uncertainty has left both personal and business account holders on edge, with some businesses reporting disruptions in their daily operations due to the inability to access company funds.
JTV News will continue to monitor the situation closely and provide updates as more information becomes available.
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