Entrepreneurship
Palau’s entrepreneurship ecosystem boosted through ‘Start and Improve Your Business’ training
Initiative will facilitate the growth of innovative start-ups and bolster the competitiveness of existing businesses in Palau.
The training saw six Palauans learn the skills to become SIYB trainers, including four women. They are now part of a training network that will effectively guide and mentor aspiring entrepreneurs and enhance enterprise development in Palau.
“I’m so excited about future business development workshops now that I've learned ILO's Start and Improve Your Business training programme. The tools included in the training will revolutionize training for entrepreneurs and business owners. The training really reminded me how adult learning is different. It has equipped me with tools to improve my ability to help change business management,” said Ltelalk Fritz, one of the participating trainers.
The ‘Start and Improve Your Business’ Training of Trainers Workshop in Palau was the first of seven to be conducted in different countries in the Pacific region. The SIYB programme has been further enhanced by ILO’s recently developed ‘Digitalise Your Business’ and ‘Green Your Business’ modules to ensure a more holistic approach to the training.
The workshop was held in Palau, on 5-14 July 2023, by the International Labour Organization Office for Pacific Island Countries, in collaboration with the Palauan government through the Ministry of Human Resources, Tourism, Culture and Development (MHRTCD) and the International Organisation for Migration (IOM). The initiative forms part of the Joint SDG funded Project on Digitalisation in Micronesia, which is being implemented by several UN agencies.
“The ILO's SIYB programme has been at the forefront of promoting entrepreneurship and enterprise development for decades. We want to do the same in the Pacific,” said Christian Viegelahn, ILO Officer in Charge.
“By equipping local trainers with the knowledge and skills to deliver the SIYB programme, the ILO aims to create a multiplier effect, reaching a larger pool of entrepreneurs in Palau. This will facilitate the growth of innovative start-ups, bolster the competitiveness of existing businesses, and drive economic development and employment in Palau,” he added.
The workshop covered a range of topics, including Effective Entrepreneurship Training Techniques, Business Ideation and Planning, Financial Management Skills, Marketing and Sales Strategies and Supportive Coaching and Mentorship.
Gemunu Wijesna, SIYB Master Trainer who delivered the training, noted that all participants showed a high level of commitment and are ready to train future entrepreneurs.
The Start and Improve Your Business Training of Trainers Workshop aligns with the Palauan government's vision of stimulating sustainable economic growth, creating jobs, and nurturing a culture of innovation and resilience in the business community.
The success of the SIYB Training of Trainers Workshop is a testament to the strong partnership between the ILO, the Palauan government and the IOM. The ILO remains committed to supporting Palau's efforts in fostering a conducive environment for entrepreneurship and facilitating inclusive economic growth.