The Tribune

By CELESTE NIXON

Tribune Staff Reporter

cnixon@tribunemedia.net

THE Bahamas Chamber of Commerce and the US Embassy have teamed up to launch their seventh business education seminar and workshop to promote growth and trade in small and medium Bahamian businesses.

Together with the Employers Confederation next week in New Providence and Grand Bahama in an effort to promote entrepreneurial growth.

At a press conference at the Chamber of Commerce yesterday, Alex Sokoloff, Political/Economic and Commercial Chief at the US Embassy, encouraged businesses to take advantage of an opportunity to learn about the various financing tools the EX-IM Bank has to offer.

Mr Sokoloff said the two events were specifically designed for Bahamian entrepreneurs to experience hands on, practical seminars and workshops.

"The Embassy firmly believes these practical seminars will give businesses an opportunity to source much needed capital in order to start or expand their business," he said.

The primary goal of the US government's global business strategy, known as the National Export Initiative (NEI), is to encourage "stronger and balanced global growth and fostering increased trade," said Mr Sokoloff.

The seminars will feature registered broker for EX-IM Bank Global Trade and Financing, Luis Castillo who will discuss EX-IM financing programmes that are now available to small and medium enterprises (SMEs).

Chamber of Commerce chairman Chester Cooper said one of the main issues facing businesses in the Bahamas was access to capital and adequate funding.

He said: "Particularly as it relates to SMEs in the Bahamas the issue of capital, the issue of finding adequate funding, is a key factor in determining whether a business succeeds or not.

"We are hoping that this seminar would be able to provide information to the business community about how they may go about the process of accessing funding."

The International Trade and Financing Seminars will be held at the Sheraton Nassau Hotel on Cable Beach on May 22 and 23 and the Pelican Bay Resort at Lucaya in Freeport on May 24 and 25.

Global Trade and Financing will be available to discuss loan pre-qualification procedures in both Nassau and Freeport. Interested companies should make an appointment with the broker at the seminar.

Anyone who wants more information can contact the Chamber of Commerce in Nassau at admin@thebahamaschamber.com and in Freeport at mferguson-gbcc@live.com