THE National Development Bank in partnership with the National Capital District Commission is set to launch the Business Incubation Centre to promote small medium entrepreneurship in the Capital City next month.
The Business Incubation Centre according to the NDB Managing Director Moses Liu, is a new concept that the bank is embarking on to help grassroots people on the street who want to go into small medium enterprises but have no avenues to do so.
Under the concept, Mr Liu explains that the bank proposes to bring together the ordinary people lacking skills in small medium businesses to undergo training and professional skills at the Business Incubation Centre.
The centre which is located Hibiscus Street, Hohola is divided into small allotments or cottages of which the first 40 applicants will be selected to lease the space at a minimal fee from 12 to 24 months to trade their products.
While trading at the centre, they would simultaneously be benefiting from on the ground training organised by NDB to equip them with basic skills on small medium businesses.
“We will try out the new concept to help those who have no business skills but have an interest to start small businesses. The allotments will be given to 40 interested members of the public to try out and they can sell anything from food to clothing and artefacts amongst others,” said the Managing Director.
He described the concept as a first of its kind therefore has invited the National Capital District Commission to come on board to partner NDB on this project through subsidising the rental fees for the people.
Mr Liu was accompanied by the NCD Governor Powes Parkop, the NCDC Youth Desk Coordinator Rex Buka and the Chief Executive Officer of NDB Desmond Yaninen during a brief inspection of the facility last week.
Governor Parkop after inspecting the facility was impressed with it and pledged the Commission’s support in partnering the bank on this new concept. He likened the project to those in Australia, China and Malaysia which he said has greatly benefitted the little people and is happy that the bank has come up with a similar concept for the city residents which the Commission will be happy to support.
Apart from women, this project will also be targeting youths and school leavers, says Mr Buka who will be working closely with NDB on behalf of the NCD Governor’s Office and the National Capital District Commission to see this project gets off the ground successfully. The official opening of the Business Incubation Centre is scheduled for April 26.