More than 30 Micro, Small and Medium Enterprise (MSME) owners and entrepreneurs participated in an engaging and practical Product Costing and Pricing — Cost with Confidence, Price for Profit training hosted by the Grenada Chamber of Industry and Commerce (GCIC) in partnership with Ethniv at the Point Salines Hotel.
The interactive session delivered by Gilbert Williams of Ethniv was designed to strengthen the capacity of local entrepreneurs by equipping them with practical tools and techniques to accurately calculate product costs, establish profitable pricing strategies, and build stronger, more sustainable businesses.
The Product Costing & Pricing training forms part of the GCIC’s broader MSME Development Programme, which seeks to strengthen the competitiveness of local enterprises through business training, digital transformation, market access, networking, and strategic partnerships. In collaboration with Ethniv, the chamber has provided an e-commerce platform that will provide Grenadian MSMEs with an online marketplace to showcase and sell their products to a wider audience. The platform will be launched soon.
Participants at the training represented a diverse cross-section of Grenada’s MSME community, including agro-processors, artisans, craft producers, skincare manufacturers, and other small business operators. Throughout the session, participants explored key concepts such as costing methodologies, value-based pricing, profit margins, and strategies for enhancing brand presence in an increasingly competitive marketplace.
Speaking on the importance of the initiative, the GCIC reaffirmed its commitment to supporting the growth and competitiveness of the MSME sector through relevant training and business development programmes.
The training received overwhelmingly positive feedback from participants, many of whom described it as timely, practical, and directly applicable to their businesses. One participant commented: “I extend sincere thanks to the GCIC for affording me the opportunity to be part of this timely activity. It was great. I had a great opportunity to learn new techniques that will surely enhance my small business.”
In addition to the training, participants also benefited from professional product photography services provided by photographer Reynaldo Bernard of Unique Photography. The initiative enabled several entrepreneurs to obtain high-quality images of their products for use in marketing and promotional activities, further enhancing the overall value of the programme.
The GCIC expresses its sincere appreciation to Ethniv for partnering on this important initiative, to the Point Salines Hotel for graciously hosting the training, and to Reynaldo Bernard for his valued contribution. Their collaboration helped create a meaningful learning experience that will positively impact the participating businesses.
The chamber also encouraged participants who are not yet members to consider joining the GCIC, highlighting the many benefits of membership, including advocacy, networking opportunities, business support services, training programmes, and access to valuable information and partnerships.
As one of Grenada’s oldest private sector organisations, the GCIC remains committed to fostering entrepreneurship, strengthening the business community, and supporting the sustainable growth and competitiveness of MSMEs throughout Grenada.
GCIC
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