Business BuzzBusiness Buzz is a monthly column presented by the Bermuda Small Business Development Corporation. Every month, read about entrepreneurship, obtain business management tips, and find out what’s going on in the small business sector. How can we encourage entrepreneurship in Bermuda? Where do new business ideas come from and how can we promote them?Well, this past week, these questions were answered. During November 14 20 Bermudians participated in Global Entrepreneurship Week along with millions of other people all over the world.Global Entrepreneurship Week or GEW (pronounced “goo”), as coordinating members affectionately call it, is a worldwide celebration of entrepreneurship. During GEW aspiring entrepreneurs participate in activities that encourage creativity and innovation, finding solutions to some of the worlds challenges.Since 2008, Bermuda has participated in GEW. A GEW Host committee was formed to produce events that encourage Bermudians to celebrate their entrepreneurial endeavours. The Host Committee includes the Youth Entrepreneurship Initiative and the Bermuda Economic Development Corporation, formerly the Bermuda Small Business Development Corporation. The Host Committee works in conjunction with public and private partners.GEW Bermuda 2011 kicked off with a press conference on November 14. With Minister Patrice Minors, stating that “……..”. The Minister also shared that over the past four years, this initiative has created more than $ 200,000 in financial support…”The first event of the week was intended to highlight eMonday, an initiative created by Department of Ecommerce last year to encourage and educate the public about online shopping and etailers.On Tuesday, November 14 an educational seminar entitled ‘Shopping Carts, Ecommerce and Ebilling 101’ was held. Qian Dickerson of W&W Solutions, Matt Earle of Bermuda Internet Marketing, Alexandra Mosher, owner Alexandra Mosher Studio Jewellery and Florence Smith, AVP Merchant Services, Butterfield were featured as guest speakers.The panel discussion explained how to incorporate ecommerce into an online business. Ms Mosher highlighted how her participation in eMonday last year helped her take her brochure website to the next level by incorporating a shopping cart that enables customers to make online purchases. As a result, one year later she can boast sales of her jewellery from as far away as Alaska.eMonday will take place on December 5. On this day ‘etailers’ will be offering promotions and discounts to encourage Bermudians to shop local online. Log on to www.emonday.bm to check out the deals.On Wednesday, November 16, BEDC hosted a breakfast seminar entitled Business Mentoring Matters.Over 50 existing and potential entrepreneurs participated in Group Mentoring Sessions led by industry professionals including, Bruce Sharpe, Sharpe Financial Services and Michael Maclean of M&M Construction; Claudia Phillipsz-Jones, of Expertise; Kerry Judd, New Beginnings Inc. and Michael Brangman of UCG Business Solutions; Craig Tucker of HSBC Bermuda and Deborah Sweeting Thompson, UCG Business Solutions; Andre Famous of AJW Construction and Andrew Griffith of BAS Group of Companies.Each of the named Group Mentors led small groups of 10 -12 people in discussions about; Obtaining Financing, Human Resource Management, Marketing and Promotions, Managing Cash Flow and Strategic Planning for Business Continuity. During the three-and-a-half hour session participants were also treated to a Skype presentation from mentoring expert, Marcia Brandon executive director of the Barbados Youth Business Trust.Mrs Brandon was integral in helping BEDC establish its Partnering For Success Mentoring Programme. Mrs Brandon offered that mentoring for young entrepreneurs is vital to the success of their businesses.Wednesday evening, students enrolled in the Community Education Entrepreneurship Course celebrated the completion of the course by presenting their business plans and networking with each other and other entrepreneurs.Fifteen students completed the course. One participant remarked that the course helped them to further refine their idea and start developing their business plan.The Rocket Pitch Competition, sponsored by Butterfield and Capital G, was the final GEW event. For four years the Rocket Pitch competition has served as a catalyst to encourage would-be entrepreneurs get their ideas off of the ground. Contestants pitch their business ideas in front of a panel of judges who decide first, second and third place winners.This year, the judging panel included Michelle Khaldun, BEDC general manager; Anthony Foster, owner Bermuda Sanitation Engineering and BEDC chairman; Taiwo Ogunyemi, vice-president corporate banking, Butterfield and Michael Veale, senior vice-president, Capital G.The Judges heard from six young entrepreneurs who in five to seven minutes had to explain their business idea in hopes of winning part of a $4,500 cash prize. There were some excellent ideas presented, but ultimately only three cash prizes could be awarded.Kristan Ball took first place for her Bermuda Parent Magazine; Alex Jones second place for Mantastic Shopping (the solution for men buying their partners the wrong gifts…”Hallelujah”); and third place went to Natalie Bennett and Stuart McIntosh for Island Sole (cute shoes that actually fit well and are comfortable).Overall GEW is a week to celebrate, encourage and highlight creativity. Entrepreneurs exhibit creativity and result oriented thinking regularly as they are often the ones that provide innovative solutions to problems. For those of you reading this that missed participating in these activities and have the urge to start a business, fret not, we will continue to participate in GEW and next year you will have a chance to sign up for the 2012 activities. For those that can’t wait that long, BEDC will continue to provide advice, educational opportunities and support for Bermudian entrepreneurs all year long.Until next year….stay GEWy my friends.Jamillah Lodge is a business development officer for Bermuda Small Business Development Corporation. She specialises in providing aspiring and existing entrepreneurs with business development advice and loan guarantee assistance. In addition, she manages the marketing and communications plan for the Corporation and oversees the development of a mentorship and youth entrepreneurship programme. She has a degree in Business Administration with a concentration in Marketing. The opinions expressed in this article are those of the writer and should serve a general guide and should not be considered as replacement advice from a lawyer, accountant or other professional service provider. Readers should consult with the appropriate professionals as necessary.If you have questions about starting a business in Bermuda, just ask BSBDC: E-mail us at info[AT]bsbdc.bm or call 292-5570.