The Massy Group is set to assist entrepreneurial growth throughout the Caribbean by providing over $6.5 million in funding the newly formed Social Enterprise, NUDGE .
Massy Group’s President and Chief Executive Officer Gervase Warner in a news release Warner 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.
According to Warner, Massy would work with several other institutions and businesses with similar intent to give these micro and small businesses a “nudge” towards their success.
Warner added: “We believe that the recovery of the economies in which we operate will need significant entrepreneurial activity and energy.”
Massy launched Nudge earlier this year as 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.
Warner further indicated that Nudge will be launched in Barbados and St. Lucia in early 2021. The Massy Group’s Senior Vice President of People and Innovation Julie Avey and Fashion Designer and Serial Entrepreneur, Anya Ayoung Chee are championing the project.
In the statement, Ayoung Chee and Avey expressed: “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.”
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.
Avey highlighted that with her Group’s support, NUDGE would work with several other institutions and businesses to give these micro and small businesses a “nudge” towards their success.
She noted: “We believe that economic development is shaped by the injection of entrepreneurial activity.”