30/04/2026
A few months ago I was talking to someone about how hard it is for entrepreneurs in the Bay Islands to get their businesses off the ground, and what came up wasn't just the obvious stuff: money. Yes, access to funding is challeging. But what we also talked about, and what I think doesn't get enough attention, is the lack of knowledge. Not knowing how to structure a business, how to manage your finances, how to market yourself. That gap is just as much of an obstacle as an empty bank account, if not more.
Fast forward a couple of months, and I'm in Tegucigalpa. You guys know I split my time between the city and the islands, so that's just normal life for me. I started getting bombarded with ads about entrepreneurship competitions. You apply, and if selected, you go through an online process, where you take classes on finances, marketing, how to legally structure your business, all of that good stuff. You attend sessions taught by people who know what they're talking about. We're talking professors with master's degrees, specialists in their fields. If you've attended the sessions and passed the evaluations (in some cases), you make it to the final where you pitch your business or put together a financial plan for what you'd do with the money. And the prizes range from L. 50,000 to L. 250,000. There's international ones where it can go up to $100,000. I actually know someone from Mexico, who won that much for his startup. His project is impressive, and it got me thinking that we have that kind of talent in the Bay Islands too. You don't have to go in person unless you want to, I'm currently the only from the Bay Islands participating in these.
So after seeing all these ads I started applying to every one I can. Right now I'm participating in two of them, and I've applied for a third one that's coming up. Two of them are through two major banks here in Honduras, one with a partnership with a well-known organization and the other with an alliance with a prestigious university. The third is through an organization that specifically focuses on supporting Honduran entrepreneurs. I've been in one of them for 6+ weeks now and about 3+ weeks into another, and I have to be honest, I am learning a lot. Not just business theory but practical things I can use.
The one that has really blown me away is run by BAC in partnership with UNITEC. The structure is serious. You pass two evaluations, attend all the online sessions, and the classes taught by professors from that university, people with master's degrees who are highly qualified in their specific subjects. But what really sets it apart is that they'll assign you a professor from that university, who guides you through everything your business needs to grow. Beyond the money, they connect you with the right people. If you're selling a food product for example, they'll connect you with supermarkets, with distribution channels, with whoever you actually need to reach. They get you into fairs and events after the program ends. It's not just a check, it's a whole ecosystem of support. And to give you an idea of how competitive it is, there were over 1,900 applications for this one. They selected 75. I'm one of them, so I already have some things I can share about what it takes to stand out and actually get selected. Some competitions are for women only and some are for everybody. There's also the YLAI Fellowhsip Program, to which one of our bay islanders just got accepted into in order to learn how to manage his business and stand out.
I keep thinking back to that original conversation about Bay Islands entrepreneurs because for some reason, whether the ads just aren't reaching us out there or we simply aren't paying attention, these opportunities are not on most people's radar back home. And they really should be. They are available to everyone and you do it all online, which means you can participate from Roatan, Utila, Guanaja, St. Helene. There is no reason we should be missing out on this.
If you're interested, I would love to share what I've been learning along the way, the things I'm picking up about finances, marketing, and structuring a business. And if I actually win anything, I'll have even more real information to pass along. Maybe we do a chat about it, maybe we organize something in person at some point, or maybe I just put together a document you can go through at your own pace. I'm open to whatever works best for you guys, just let me know. I don't charge, by the way. The opportunities are out there. We just have to go find them.