Frequently Asked Questions – BCoEC in the BVI
Q: What is the Branson Centre of Entrepreneurship – Caribbean?
The Branson Centre of Entrepreneurship – Caribbean (BCoEC) is a non-profit organization that provides support for Caribbean entrepreneurs who are poised for growth. Launched by Sir Richard Branson in 2011, they assist entrepreneurs to launch or scale their businesses for long-term growth & success. BCoEC is currently headquartered in Montego Bay, Jamaica.
Q: What role does KPMG play in the programme?
KPMG is on the ground in the BVI and will recruit entrepreneurs to participate in BCoEC’s online business skills training and implement the Official Entrepreneur Programme in the BVI. What this means is that KPMG will be facilitating and hosting the operational and in-person activities. KPMG will also provide direct mentorship, guidance and training for the programme. They are your first port of call in the event that you need any assistance or have any queries in the BVI.
Q: If I have a question about the programme, who do I ask?
Should you have any queries on the programme, email email@example.com, where a member of the team will pick-up your query and respond as soon as possible.
Q: What’s the difference between the Branson Centre Caribbean Online training programme and the Official Entrepreneur Programme?
Branson Centre Caribbean Online is the free virtual platform open to all entrepreneurs in the BVI who wish to use it to write a condensed business plan, which is known as the Business Pitch Deck. If an entrepreneur wishes to enter the Official Entrepreneur Programme, then the Business Pitch Deck along with a Business Pitch Video is submitted for evaluation when the training period for the virtual platform closes. The applicant must also pay a USD $60.00 review fee in order to have their Business Pitch Deck reviewed and receive detailed feedback. If the Business Pitch Deck makes the standard pass mark of 70%, the entrepreneur is invited into the Official Entrepreneur Programme and is eligible to receive entrepreneurial/business support on an ongoing basis which can be renewed annually.
Q: How long is each online training period?
Each online training period is 10-12 weeks long depending on where it falls in the annual calendar.
Q: How much does it cost to use the virtual training platform – Branson Centre Caribbean Online?
There is no cost to use the virtual training platform. However, you must be a resident in the BVI to register. We consider a resident to be someone who has legal permission to reside in the territory on an ongoing basis, and who has a business operating in that country where 70% of the staff that work for the business reside in that country.
Q: Do I have to visit KPMG or another location in the BVI to use the virtual training platform?
No. The virtual training is done online. However, during the three months of training your physical presence will be required at an orientation event. There are also drop-in days where our coaches are available to answer questions in person, however attendance at drop-in days is not mandatory (and would require prior arrangement).
Q: What do I receive at the end of the training on Branson Centre Caribbean Online?
At that point, if you’ve put in the hard work needed to complete your Business Pitch Deck, then you’ll have a strategic document that can be used to attract investors and potential partners. We do not provide any certificates or marks of approval for the Business Pitch Deck. However, if you apply to be a Branson Centre Official Entrepreneur in the BVI and you meet our minimum standard, then you gain access to all of our support services.
Q: Am I automatically accepted as a Branson Centre Official Entrepreneur once I complete training on Branson Centre Caribbean Online?
No. Your Business Pitch Deck must be submitted to the local team for evaluation first, as per the guidelines listed above. If it makes the pass mark of 70%, then you become a part of the family.
Q: Are there any charges to participate in the Official Entrepreneur programme?
There is a minimal fee, which is really just a show of commitment by you. The cost to have your Business Pitch Deck evaluated is US$60.00. If your Business Pitch Deck is given the pass mark of 70% or more then you will be accepted into the Official Entrepreneur programme and pay no additional charges for the remainder of that calendar year. If you want to continue participating in the programme in the following year, then you pay the annual fee of US$75.00 in January. Thereafter, you pay an annual fee every January.
Q: Can I forgo the Branson Centre Caribbean Online training and submit my business plan for evaluation if I already wrote one and I’m already an operational entrepreneur?
This is not advised. All entrepreneurs interested in the Official Entrepreneur Programme must write a Business Pitch Deck based on the guidelines and tools provided on our virtual training platform.
Q: Can more than one person at the same company participate in the Official Entrepreneur Programme and represent the same company?
We definitely want the learning to be spread throughout your company, so more than one person can go through the training. Branson Centre Caribbean Online is free and open to anyone in the BVI, however, only one person per company can represent that company as an Official Entrepreneur. Therefore, you will have to decide who from your company will participate in the programme and submit their Business Pitch Deck for review.
To sign up for our online training programme in the British Virgin Islands click here