The Young Entrepreneurs Association's (YEA's) new president is bullish on increasing the group's membership and benefits.

"This year, the plan is to increase the number of members in the YEA," said Bronhil Thompson, president of the YEA. "Once that's in place, we can seek to improve the benefits that out members get."

Currently, YEA has 70 members. Thompson plans to double the amount this year.

She wants to implement the YEA's Forum — a programme that she says will mimic a company board of directors.

The board, which will comprise of members of the YEA, who are seasoned business owners, and in the future, bigger more established companies, will provide support to the young entrepreneurs.

"We want the young members to be able to go in front of a board and voice their issues. These experienced business owners will provide crucial advise that will impact the members," said Thompson.

The board of advisors is to provide assistance for strategic planning, informational technology, legal, operational, marketing and sales, as well as accounting, where necessary, according to the draft plans of the Forum. It will also help to introduce partners and investors of the members' businesses.

A feature of the Forum will be videoconferencing via Skype or other on-line medium.

"Too often, businesses fail because of lack of support and inability to realise their goals," said Thompson. Funding will give members much needed help.

The association is in talks with a financial institution to secure a facility that will give its members who want to improve their businesses access to loans.

"We are about to sign off on a memorandum of understanding."