The Honourable Charles Griffith, M.P. Minister of Youth, Sports and Community Empowerment (in navy blue suit), among the entrepreneurs at the BEF Awards Ceremony.

The Barbados Entrepreneurial Foundation (BEF) held an Awards Ceremony for the annual $20 Dollar Challenge on April 5th 2025 at the Sagicor Cave Hill School of Business and Management. The $20 Challenge was first established in 2011 by the Barbados Entrepreneurship Foundation (BEF).

In 2011, the $20 Challenge programme was launched as an annual competition to help build a culture of entrepreneurship amongst students in secondary and tertiary institutions across Barbados. The programme allows students to experience building a business before they enter the world of work.

Managing Director of Scotiabank (Barbados) Limited, Suzette Armoogam-Shah, spoke at the ceremony and reinforced Scotiabank's commitment.

“Scotiabank is incredibly proud to partner with the Barbados Entrepreneurship Foundation on the $20 Challenge. This programme is more than just a business competition; it’s an investment in the future of Barbados. By providing these young individuals with hands-on experience and mentorship, we are equipping them with essential life skills, fostering resilience, and cultivating the entrepreneurial spirit that will drive our nation forward,” she said.

   

Minister of Youth, Sports and Community Empowerment, the Hon. Charles Griffith had the pleasure of delivering the feature address. "Business is not easy... one of the first things that you should do is to sell service first and then your product. Too often in this country you have a situation where service is lacking... so I am saying to you that service is paramount to how you treat you business going forward,” Minister Griffith advised the young entrepreneurs.

   

Minister Griffith also spoke of upcoming plans within the Ministry of Youth, Sports and Community Empowerment for its Community Business Labs and entrepreneurial based summer camp. The Youth Entrepreneurship Scheme (YES), under the Ministry of Youth, Sports and Community Empowerment, has been a sponsoring partner with the BEF for the last five years.