9 May 2012

Liberia: Several Nationals Receive Loans for Business Improvement

Eight young Liberian entrepreneurs were on Tuesday, May 8, 2012 awarded US$10,000 loan each for the promotion of their businesses.

The loans were provided by the Business Start-Up Center Monrovia (BSC) at the IT Hall Business situated on the main campus of the University of Liberia (UL) on Capitol Hill, Monrovia. BSC is a pilot initiative of SPARK, a non-governmental organization based in the Netherlands and the Association of Liberian Universities (ALU). Speaking at the awards program, the Minister of Commerce and Industry, Madam Miatta Beysolow, underscored the need for entrepreneur development.

According to her, entrepreneur development is crucial to the national development, stating: "This must be promoted in Liberia."

She said Liberians must see entrepreneur as a viable option to government job seeking.

The Commerce Ministry boss said government is committed to supporting the development of entrepreneur at all time.

"Small business plays a major role in the growth and economic development of any nation, and Liberia is not cut away from this. So, I feel that we must see entrepreneurship as a viable option to government job seeking; we must make entrepreneurship a desirable option for development," she stated.

"Again, for our economic to boom, we must place great emphasis on entrepreneurship," she among other things added.

For his part, the Project Coordinator of BSC, Mr. Marcus Zarway, stated that the organization is geared towards promoting entrepreneurship and Small and Medium Enterprises (SMEs) development among Liberian youths.

According to him, the opening of the entrepreneurship and the awarding of loans to young Liberians for the improvement of their businesses is a great milestone in the history of the country.

He added that the initiative aims to create employment opportunities for the many Liberian youths.

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