Caguas | Saturday, June 10, 2023 | Fifty-three people, residents of 19 towns of our archipelago, completed 13 business training workshops of the Small Business Incubators and Accelerators Program (SBIA) of the U.S. Securities and Exchange Commission (SEC). Puerto Rico Community Foundation (FCPR). The group of entrepreneurs acquired knowledge, tools and strengthened skills and abilities that will enable them to complete a business plan and/or obtain a merchant registration, in order to contribute to economic activity from the community base.
The program is an initiative supported by the Puerto Rico Department of Housing through CDBG-DR program funds, and is managed by the FCPR, together with incubators and accelerators. CRÉALOS from the Office for the Promotion and Human Development (OPDH), in Arecibo; Incubadora Solidaria Headquarters from Women of the Islands, in Culebra; and the Center for Microenterprise and Sustainable Agricultural Technologies Inc. (CMTAS Yauco, Inc.), in Yauco.
One of the participants, Grace López Collazo, The 59 year old, bet on entrepreneurship after losing his job as a medical propagandist at the pharmaceutical company where he worked for 38 years. He opted to turn his hobby of costume jewelry into a source of income. His business, Stilo Grace,The company sources 99% of its materials from local stores and recently launched its online store. stilogracepr.com.
“I didn't have any hobbies, but during the Covid-19 pandemic and the confinement I took jewelry making classes and realized I had a talent for handicrafts. I started making chains for face masks and without intending to, they reached Panama, Spain and the United States. When I received the unexpected news that I was going to be unemployed, I turned the uncertainty into action and prepared myself by acquiring materials to continue creating, this time setting goals,” said López Collazo.
“After the CRÉALOS workshops, I gained more confidence and new tools to continue developing my business. Among my plans is to expand the reach of the brand, create seasonal collections with unique and unrepeatable pieces and who knows if eventually have a physical store where we can give free rein to the imagination with the taste of each client, creating at the moment,” she added.
The 53 entrepreneurs are between 22 and 62 years old and seek to develop businesses that meet the needs of their community and generate jobs related to food and beverage manufacturing, confectionery, jewelry, development of educational materials, childcare, health and beauty, art therapy, party decoration and accounting services. They also form agricultural enterprises focused on animal husbandry, cultivation of medicinal plants and agrotourism. The towns in which they reside are: Arecibo, Bayamón, Cabo Rojo, Cidra, Coamo, Culebra, Guánica, Guayanilla, Hatillo, Manatí, Naguabo, Peñuelas, Ponce, Quebradillas, Salinas, San Juan, Santa Isabel, Toa Alta and Yauco.
To celebrate the closing of this stage, the group participated today in a meeting at the Botanical Garden in Caguas, where they presented their businesses and listened to the success stories of the people who promoted the following businesses: Aguja Local, Le Menina, ED Digital, Restaurante Asia de Lima, Hatillo Nova Lact, Kathador, Ruta Artesanal, and Vitrales y algo más.
“The regional human capital has grown with this cycle of business training. We are pleased that the group of participants now has the necessary knowledge to develop their business ideas, establish them and continue growing, thus activating their own economy and that of Puerto Rico with the establishment of new businesses and jobs,” said the president and chief executive officer of the FCPR, Dr. Nelson I. Colón Tarrats.
For six months, people attended virtual workshops on entrepreneurship offered by specialists in feasibility studies, business emotional intelligence, government incentives, brand creation and development, solidarity microenterprises, labor laws and employee management, preparation of financial statements, canvas, etc. business model, permitting for business and e-commerce. Now, they continue mentoring, hand in hand with community incubators and accelerators, which provides support or specific information on the industries to be impacted.
This is the second cycle of the program and in October 2023 the third cycle will start -people interested in participating can write to adiaz@fcpr.org. In the first cycle of the program, 19 businesses were developed and obtained a merchant certificate and/or presented a business plan - to learn more about these businesses, please visit Small Business Incubators and Accelerators Program.
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