The Tribune

By MORGAN ADDERLEY

Tribune Staff Reporter

madderley@tribunemedia.net

ONLY 100 of the more than 3,500 registrants of the Access Accelerator Small Business Development Centre (SBDC) are from the Over-the-Hill community, SBDC chairman Geoffrey Andrews said yesterday.

Mr Andrews made this observation during a press conference held yesterday at the Office of the Prime Minister, where the Over-the-Hill rejuvenation initiative received $500,000 from three separate donations. Mr Andrews described the donation as a “great seed of capital”.

The funding will also benefit the Over-the-Hill Community Development Foundation, and the redevelopment of the Southern Recreation Grounds.

Businessman Mark Holowesko first donated $100,000 to SBDC, which provides small business grants to entrepreneurs.

Mr Andrews accepted this donation and subsequently delivered remarks.

“A donation like this provides a great seed of capital,” he said. “To date, only 100 of our 3,500-plus registrants are from Over-the-Hill. We hope that with this donation and the programming that we launch in the area we’ll see that number grow exponentially.

“This donation…will go a long way in helping us to boost the local economy, create jobs, and develop ownership,” Mr Andrews said, as he celebrated 22-year-old Benjamin Davis, a University of the Bahamas student, who recently became the first local entrepreneur to receive capital funding from commercial banks through SBDC.

He also noted the launch of a SBDC office at the Edmund Moxey Cultural Centre on Baillou Road, which took place last night.

“We believe that in the long-term having immediate access within walking distance will help the pace of growth of the small businesses within central New Providence,” Mr Andrews said.

During his speech, Prime Minister Dr Hubert Minnis said he’s challenged SBDC with the establishment of a programme so that the money be dispensed “as grants in tranches of $2,500-$3,500”, particularly for small businesses such as barbershops, beauty salons and stores, and tailor shops.

Mr Holowesko gave another $100,000 to the Over-the-Hill Community Development Foundation, which is a newly established non-profit chaired by Robert Turnquest.

Mr Turnquest yesterday said the foundation’s goal is to “serve as a vehicle for bringing lasting and tangible benefits to this important and historic community and its people”.

He also underscored the “participatory and collaborative” nature of the foundation as he appealed for public assistance with the initiative.

“The foundation will be responsible for the comprehensive programme of Over-the-Hill,” Dr Minnis added. “We are trying to present and come forth with opportunities for the inhabitants of the inner city so that they themselves will be able to improve the quality of their life and become entrepreneurs in society.”

Finally, Dr Tyrone McKenzie, former senior vice-president of Albany Bahamas, presented Dr Minnis with a $300,000 donation — the second half of the total $600,000 contribution Albany has given to the redevelopment of the Southern Recreation Grounds.

Describing Albany as a “great partner”, Dr Minnis said: “We’ve already started the rejuvenation of the Over-the-Hill programme. As you know we’re more than 3/4 way completed with the Southern Recreation grounds.” He added it will be an “excellent facility” and tourist attraction and be a “model park” within Bahamian society.

Of the inner city, Dr Minnis said: “We’ve declared that area a tax-free zone and we would look (further) to extending these tax free zones to other under privileged areas.”