Twenty-three entrepreneurs have been recognised by the Bermuda Economic Development Corporation for their educational achievements.

The group were participants in two of the Bermuda Economic Development Corporation’s multi-week courses at the North East Hamilton Incubator Hub.

They were celebrated for their dedication and progress for completing the Entrepreneurship 101 and Financial Statements, Planning and Costing Using QuickBooks courses.

The former course, led by Donte Hunt, director of micro, small and medium enterprises at the BEDC, provided an in-depth understanding of small-business management and developing a business plan over eight weeks.

Participants learnt 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 start-up expenses.

Guest experts and testimonials from successful entrepreneurs enriched the course, the BEDC said.

The Financial Statements, Planning & Costing Using QuickBooks course, led by Colina Outerbridge, business data and policy analyst at the BEDC, 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 cashflow 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.

“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 said it offers educational opportunities to support entrepreneurs at varying stages of their journey.

The Think Like an Entrepreneur course helps the new entrepreneur to validate their ideas.

Applications are open for the Enterprise Bermuda Incubator, an in-depth learning opportunity for anyone looking to start or develop a business idea, the BEDC said.