News Release: HAMILTON, Bermuda – The Bermuda Economic Development Corporation (BEDC) recently celebrated the achievements of participants in two of its multi-week educational courses at the North East Hamilton Incubator Hub. The event, held on January 24th, acknowledged the dedication and progress of those who completed the Entrepreneurship 101 and Financial Statements, Planning & Costing Using QuickBooks courses.
The Entrepreneurship 101 course, led by Donte Hunt, Director of MSME, provided an in-depth understanding of small business management and developing a business plan over eight weeks. Participants learned the essentials of starting a business in Bermuda, including understanding local legislation and its impact, developing a preliminary business plan, establishing key business and government contacts, and building a budget to outline startup expenses. Guest experts and testimonials from successful entrepreneurs enriched the course.
The Financial Statements, Planning & Costing Using QuickBooks course, led by Colina Outerbridge, Business Data & Policy Analyst, was designed for those needing additional guidance in financial management. Over eight weeks, participants gained insights into financial planning, interpreting financial statements, and the basics of costing for small businesses. Key learning areas included understanding cash flow and income statements, creating and interpreting balance sheets and profit and loss statements, accurately costing and pricing products, and becoming familiar with QuickBooks software to manage finances effectively.
“As we step into 2024, I sincerely hope this year will be fruitful for all of you”, said Erica Smith, Executive Director at the BEDC. She continued, “The skills and insights you have gained are more than just tools; they are the seeds from which your businesses can grow and flourish. Whether you are at the threshold of starting a new venture or seeking to expand an existing one, the journey ahead is full of possibilities.”
The BEDC offers educational opportunities to support entrepreneurs at varying stages of their journey. The Think Like an Entrepreneur course helps the new entrepreneur validate their ideas. In addition, applications are open for the Enterprise Bermuda Incubator, which is an in-depth learning opportunity for anyone looking to start or develop a business idea. The BEDC continues to stand as a supportive pillar for small and medium-sized businesses in Bermuda, committed to nurturing and developing the entrepreneurial landscape of the island.
For more information about BEDC’s programs, multi-courses, and more, visit