THIRTY female entrepreneurs are to benefit from business skills training and other assistance through the Realise, Embrace, Achieve Your Purpose (REAP) Women Entrepreneurship Project 2024.

The initiative aims to empower the targeted beneficiaries, drawn from communities in and around PriceSmart establishments in Kingston and Portmore.

It is spearheaded by the non-profit Young Women of Purpose (YWOP)/Young Men of Purpose (YMOP).

The project provides entrepreneurship training, business coaching, mentoring, and financial support of up to $3 million.

Its primary objective is to address high unemployment and poverty levels in the selected communities by equipping the participants with the skills to start or formalise their businesses.

Addressing the programme’s launch on Monday at the Planning Institute of Jamaica (PIOJ) in New Kingston, Minister of Industry, Investment and Commerce Senator Aubyn Hill hailed the initiative as a valuable contributor to the development of the local micro, small, and medium-sized enterprise (MSME) sector.

“This empowering initiative by Young Women and Young Men of Purpose, funded by the PriceSmart Foundation, truly creates an opportunity to provide training opportunities, business coaching, mentoring, and financial support of up to $3 million for 30 young women who reside in communities in Kingston and Portmore. This project is certainly deserving of recognition and commendation,” he said.

Founder/executive director, YWOP/YMOP, Lanisia Rhoden, who provided a programme overview, said the training being facilitated during the project will focus on entrepreneurship and business management, marketing for small businesses, accounting for small businesses, and health and wellness for entrepreneurs.

The entrepreneurs will also learn how to create a model canvas for their businesses and how to pitch for grant funding.

“They will also benefit from additional workshops from agencies and organisations such as the Companies Office of Jamaica, the Jamaica Intellectual Property Office, Vison 2030 (Jamaica), and other agencies and organisations that support entrepreneurs and entrepreneurial development in Jamaica,” she said.

Rhoden added that the entrepreneurs will benefit from business coaching and mentorship.

PriceSmart Foundation Consultant Dr Bridgette Barrett said, during the programme’s initial phase, the entity will focus on communities in its ambit. She indicated, however, that the organisation intends to expand its reach.

“The intention is to transform lives and communities helping communities to thrive together. It seeks to support and strengthen communities by investing in youth development, economic opportunities, and community and environmental resilience,” she said

Dr Barrett said REAP is one of five projects that the foundation will be supporting over the 2023/2024 period.