PT&I, Cook Islands Chamber to conduct finance training
Pacific Island Trade & Invest (PT&I) has partnered with the Cook Island Chamber of Commerce with the signing of an MOU to run the Pathways to Finance programme.<!--more-->
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The MOU was signed by Mike Pynenburg (President Cook Island Chamber of Commerce) and Chad Morris, Investment and Tourism Manager PT&I.
PTI&I will provide funding to the Cook Islands Chamber of Commerce, leveraging off existing Chamber programmes to target those SMMEs or businesses that are loan ready and seeking further capital to expand their businesses through the services of Mentor Services and the Cook Islands Tertiary Training Institute (CITTI), the training provider.
An experienced business advisor/mentor will be hired by the Cook Islands Chamber of Commerce to help develop professional business plans for funding submissions. This should enable banks and other lending institutions assess the credit worthiness of the small to medium enterprises and improve the client’s chances of getting loan approval. As well as providing better access to capital for SMMEs, the partnership also hope to achieve increase business growth for participants, enhanced employment opportunities for the wider community, and skills development and capacity building for SMMEs.
The initial training will take place in Rarotonga and is planned to start in late September. The funds will also go towards the Food and Agriculture Organisation and the Women Economic Empowerment programme to expand the programme further to the outer islands of Mangaia, Mitiaro and Mauke. The programme is divided into two groups; those existing businesses that are wanting to expand and extend their business to the next level and new start up enterprises who will start with business planning. Participants will also have the opportunity to develop marketing strategies.
Mr Morris said, “PT&I values the vital work the Chamber does in the Cook Island and looks forward to building this partnership.”
For more information please contact PT&I Australia Investment and Tourism Manager Chad Morris on <a href="mailto:firstname.lastname@example.org"></a>