The St. Lucia Chamber of Commerce, Industry and Agriculture, in partnership with the Youth Economy Agency (YEA), with support from the German Sparkassenstiftung for International Cooperation (DSIK)recently concluded an impactful training course examining the intricate and practical details of "Costing and Pricing." This course was aimed at equipping small business operators with essential skills and knowledge to develop effective costing and pricing strategies.
The program, part of the Chamber’s longstanding effort to increase financial literacy, was conducted using an interval learning strategy over five days, from June 19th to June 27th, 2024, fortwo-hour sessions. This ensured that participants had time in between to apply and test the information shared at the previous session. The course was also specifically scheduled (5:30-7:30 p.m.) to accommodate the hard-working businesspeople, in a way that their time at work would not be excessively disrupted.
The Program was facilitated by Mr. Benjamin Menald, a St. Lucian and former US Fortune 500 Business Executive, with over 30years of extensive experience in Financial Planning Analysis, Strategic Planning, and Costing and Pricing. Mr. Menald's expertise and engaging delivery received positive reviews from participants, who appreciated his clear and concise explanations and practical scenarios.
Participants praised the training for its interactive and informative nature, emphasizing the valuable insights gained into the subject of costing and pricing. Many highlighted the numerous practical examples and real-life scenarios presented, that enabled them to reflect on their own businesses and practices, allowing them to make necessary adjustments to improve their business operations.
The St. Lucia Chamber of Commerce is committed to supporting businesses across the island and recognizes the need for continuous professional development. In response to the high demand and positive feedback, the Chamber is excited to announce that this "Costing and Pricing" course will be held in Vieux Fort soon. This is to ensure that businesses in the south of the island also benefit from this essentialtraining.