The Tribune

BAHAMIAN sentrepreneurs seeking financial help to develop their businesses had a shot at winning $1,000 at the recent International Franchise and Entrepreneurial Summit and Trade Show by showcasing their 'five-minute elevator pitch' skills. The event, held by the Horizons Marketing Group and the National Association of Black Hotel Owners, Operators and Developers (NABHOOD), saw Bahamians entrepreneurs head to the British Colonial Hilton on April 21, 2012, to learn more about how to get cash for their businesses. The winner was Steffon Grant of Conception Ink, who with his partner took home a financial boost for his business. "We attracted investors that will be pivotal in our expansion and development in the market that is already underway," said a statement from Conception Ink, which beat out around five other businesses. "Lots of paper pushing over the next few weeks, then production. We're going to be moving into our mass production mode this summer." The Bahamian conceptual art company will now be partnering with investors who are prepared to pump much-needed cash flow into the business. NABHOOD president, Andy Ingraham, made a commitment to provide a similar opportunity for more Bahamians in the future. He also hosts Franchise Summits in Jamaica, the eastern Caribbean, St Maarten and the Dominican Republic. "We are going to make this an annual event," announced Mr Ingraham. "We want to help with business ideas and business growth in the Bahamas and other Caribbean Islands." He said the seed money was expected to grow as the summit develops. Panels featuring local and international businesspersons judged the presentations by the businesses, before deciding which one had the best idea for success. Entrepreneurs were invited to submit a one-page executive summary before the no-cost event. Those that were selected were contacted for an additional interview about their business or idea, with the chosen ones allowed to make a five-minute elevator pitch, selling their business ideas to investors. All entrants received a $50 American Express gift card, courtesy of John Barber, chief development officer of the Atlanta-based Global Franchise Group.