Several years after considering the idea, the United Retailers Association officially launched its business school program, which is complemented by the CUD Start Your Business initiative.
The trade group known as the CUD for its initials in Spanish confirmed 70 new entrepreneurs will be able to enter the competition for free due to a partnership with the Department of Economic Development and Commerce’s Youth Development Program.
“For a long time, I have been planning to formalize the CUD Business School and today I am pleased to make that dream happen for those who have the passion and courage to establish their first business,” CUD President Jorge Argüelles said.
“They will have experts in the area of business development and will be provided first-hand knowledge in the most important areas to achieve that successfully. Small and mid-sized enterprises don’t stop and at the CUD, we’re here to support them,” Argüelles said.
Loans for young entrepreneurs ages 21-29 will be processed through the Youth Development Program under Law 35 of 2003, which allows a maximum of $10,000, according to the Youth Incentives section of Puerto Rico’s new Incentives Code. Meanwhile, Educación PyME will run the educational part.
The courses range from “How to select a good business idea” and “How to prepare a Business Plan,” to basic aspects of human resources, administration, accounting, marketing and advertising.
Those interested should complete an application via email by Aug. 22 and those selected will go to a presentation before a jury that will choose the 70 best business ideas. Those selected will attend a 13-week training program and will be able to lock up to $10,000 in financing to start their business.