Students offer free advice to small businesses
(CNS): Students from the University College of the Cayman Islands (UCCI) are honing their newly emerging business skills by working with established small businesses facing challenges that they might be able to help resolve. The Student Consulting Programme is a partnership between the commerce ministry, UCCI and Cayman National Bank which matches participating small business owners with a team of students enrolled in UCCI’s upper-level entrepreneurship and small business management course. The Ministry of Commerce has issued a release calling on business to apply now for the free help.
Over a ten week period starting in February the student team will work to help solve a business challenge, where business owners gain free and confidential advice, while students are able to put their skills into practice.
In order to take part businesses must already be established (not a start-up) and have a problem area that, when resolved, will result in an improvement to the business. Owners must also have a sincere interest in solving problems and improving business operations and express a willingness to spend the necessary time and effort with the student team.
Business owners who best demonstrate core needs in a specific area, such as marketing, accounts or business management will be selected to participate. This will allow programme coordinators to better match the business with students in a particular field of study. Students and business owners can meet as often as necessary over the course of the programme.
“I encourage business owners to take advantage of this great opportunity,” said Commerce Minister Joseph Hew. “This programme is one of several efforts the ministry is undertaking to encourage, develop and assist small businesses. Not only will it provide immediate benefits to small businesses, but it will be a great learning experience for the students who may very likely own a business in the future.”
Interested small businesses are asked to email thais.ducent@gov.ky by Wednesday 7 February. The programme is scheduled to start the following week.
I see what they are trying to do but I would not want business advice from a student. I want advice from someone who is more experienced than me at running a business. As a student you are given scenarios and taught how to operate within them but outside of the classromm you inevitably encounter situations that require more than just academic achievement. Its why certain roles require apprenticeships, doctors to residencies and attorneys do articles/training contract so transition from student to practitioner in your field.
I really think local businesses would do better having guidance from other long standing business owners. Imagine the wealth of knowledge they could impart. Take, for example, the owners of Fish Shack, No.1 shoe shop, previous owner of Island Companies, Hew’s Janitorial, Foster’s Food Fair any Kirk business. These business have operated in Cayman for a long time and will have weathered so many changes in circumstances. They practical guidance they could give would be invaluable.