The Tribune

CONTINUED growth and development of Freeport’s small and medium-sized business sector has been the focus of The Grand Bahama Port Authority, Limited coming into the 2014 business year.

Since the start of the year, GBPA, with the Bahamas Agricultural and Industrial Corporation (BAIC), and the Grand Bahama Chamber of Commerce (GBCC) has hosted a number of training initiatives. The most recent being the ProNet Business Management Training, offered by the Caribbean Export Development Agency, (CEDA) in collaboration with GBPA.

The ProNet Programme began in Freeport last month, with the first group of SMEs gathered at the Pelican Bay Resort for Module I – Business Strategy Training, which took place over a two-day period.

Charles Pratt, GBPA Commercial Manager, explains that the next event, the Cost and Financial Management Module, will be a very timely one; as proper financial management is a challenge for small businesses. “Most small business owners do not keep current or accurate information with regard to the financial health of their businesses,” said Mr Pratt, referring to what is described as the “normal” practice of small businesses. “In fact, we have found that the main reason most businesses have not applied for recent Direct Assistance Grants Scheme as offered by CEDA, is because they have not kept proper financial records,” Mr Pratt said.

GBPA’s partnership with CEDA and their supporting partners BAIC and GBCC, is intended to prepare Licencees and local businesses by the ProNet Programme to successfully apply for the CEDA Grants during the next call,” Mr Pratt explained.

Manager of innovation and competitiveness for CEDA, Christopher McNair, said that he and the ProNet team were pleased with the first module.

“We are very pleased to once again partner with GBPA, in offering these very essential business training modules to small businesses on Grand Bahama,” Mr McNair said. “ProNet is a programme that has been tremendously successful across the region, as well as other parts of the world, in helping firms understand how to conduct business in today’s globalised economy and will definitely add value to companies looking to further develop their business models for export,” Mr McNair added.

The cost and financial management module is scheduled for April 29 and 30. According to Mr McNair, the topics covered are critical for businesses that want to increase their level of productivity and profitability by increasing efficiency and effectiveness.

All participants in the Business Strategy Module had positive feedback regarding the training and ProNet Facilitators Donald Demeritte and Maxine Harris, both of whom are internationally accredited.

“I’m happy that I participated. I was extremely impressed with the training; the information was practical and relevant,” said one small business owner. “Training of this caliber and type is very much needed and it is good to see that GBPA has made its small business licencees the priority behind this initiative.”

Early registration is encouraged as modules allow for seating of 30 persons only. Businesses may register with BAIC, the GBCC or with GBPA’s Enterprising Centre. The ProNet series is being offered to qualifying companies free of charge. Participants receive an internationally recognised certificate upon completion of the module.