The Tribune

BY DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

FREEPORT – Businesspersons on Grand Bahama attended the Caribbean Export Development Agency’s Direct Assistance Grant Scheme workshop yesterday at the Pelican Bay Resort.

The free workshop was held to help persons with small- and medium-size businesses qualify for free funding, which is offered by CEDA to 15 states in the Caribbean and the European Union.

The GB Chamber of Commerce and the GB Port Authority has partnered with CEDA to put on the free granting writing workshop in Freeport.

Leigh Termath, first vice-president at the Chamber, said they are very interested in improving commercial activity in Grand Bahama.

She said it is important that businesspersons are aware of what help is available to them when seeking to improve their businesses.

“The CEDA group has been able to acquire funds through the European Union and companies that present proposals can qualify for free money – this is a huge thing,” she said.

Billie Bowe, chairman of the small business development committee for the Chamber, said they are excited to be working again with the GBPA and CEDA in educating and informing businesspersons of the opportunities for free funding to enhance their business operations.

She said it is important that businesses know how to prepare a proper grant proposal.

Ms Bowe said the target group was businesses that have been established for at least three years and are currently interested in exporting their goods and services.

Charles Pratt, commercial manager at the Grand Bahama Port Authority, is confident that the workshop will help assist in enhancing the competitiveness of small and medium size businesses.

He said the Direct Assistant Grant Scheme is funded through monies provided to CEDA, which is mandated to enhance economic activity, particularly trade building capacity, between Cariforum States.

“Each year CEDA has funding for technical workshops like this one, he said. The Chamber and the Port Authority were able reach out and arranged for the workshop to be held in Grand Bahama,” he said.

Mr Pratt said this is the second time that the workshop for the Direct Assistance Grant Scheme was held in Freeport. The first was held in October 2011, he said.

“We are very excited and happy to know that CEDA has included us in their busy schedule as there are 15 other countries in the Caribbean looking for the same type of assistance and funding from them to help grow their enterprises,” he said.

Mr Pratt said successful applicants who present proposals and qualify for funding must be able to fund the project in their company and CEDA will reimburse them up to 70 per cent of what they spend.

He said the funding is focused on certain areas, including agriculture and agro-processing; business support organisations such as consultancy, creative industries, health and wellness, information and communication technologies, manufacturing, professional services, and tourism.