In a bid to assist entrepreneurial growth throughout the Caribbean, The Massy Group will be funding newly formed Social Enterprise, NUDGE, to the equivalent of US$1 million.
The announcement came from Massy Group’s President and Chief Executive Officer Gervase Warner who indicated that, “The Massy board of directors has approved an initial expenditure of the equivalent of US$1 million to develop and deliver programs to entrepreneurs across the region, including pop-up points-of-sale in our Massy Stores, as well as for investment in worthy entrepreneurs. Massy will work with several other institutions and businesses with similar intents to give these micro and small businesses a “nudge” towards their success. We believe that the recovery of the economies in which we operate will need significant entrepreneurial activity and energy. Earlier this year we launched Nudge, an activity which aimed to help small local businesses by offering them space in selected Massy Stores in Trinidad to increase their exposure and boost profit margins.”
Nudge will be launched in Barbados and St. Lucia in early 2021.
The project is being championed by Massy Group Senior Vice President, People and Innovation Julie Avey and her co-founder, Fashion Designer and Serial Entrepreneur Anya Ayoung Chee who recognized the need for special attention to be paid to the region’s entrepreneurs, “Many of our local and regional entrepreneurs have been displaced owing to the internet revolution and economic inactivity coupled with the current COVID-19 pandemic and we saw the need to empower people to set their own future and foster a spirit of invention and ingenuity.”
The Massy Group recognizes the importance of entrepreneurial activity to create employment and opportunities for individuals to generate income for themselves, while at the same time fulfilling their purpose and creative inclinations.
Nudge has three tiers of activities:
(1) Training and development for budding entrepreneurs exploring ideas for their own business; (2) Support for artisans and micro-entrepreneurs with products seeking exposure to markets; and (3) Support to entrepreneurs through Massy governance, networks, training and in some instances funding.
Ms. Avey said with Massy’s support, NUDGE will work with several other institutions and businesses to give these micro and small businesses a “nudge” towards their success. She said, “We believe that economic development is shaped by the injection of entrepreneurial activity. We view this as an important contribution from Massy.’
For more information on Nudge, visit www.nudgecaribbean.com