The Tribune

By LETRE SWEETING

lsweeting@tribunemedia.net

THE Ministry of Economic Affairs yesterday announced the launch of various events and initiatives for November, which was declared National Micro, Small and Medium Enterprises Month to recognise and honour Bahamian small businesses.

The Small Business Development Centre (SBDC) in conjunction with the Ministry of Economic Affairs will oversee the execution of this month-long celebration.

Economic Affairs Minister Michael Halkitis expressed his anticipation of the month-long celebration of MSMEs, as he and representatives from the SBDC, who will be spearheading the initiative, were present at the Office of The Prime Minister yesterday for the launch announcement.

“It is well established that micro, small and medium enterprises are the life blood of any economy and therefore it is incumbent upon the government to promote an environment in which MSMEs can thrive and go on to become large businesses,” he said.

“To that end, the government of The Bahamas is committed to supporting the various organisations and entities whose mission it is to promote and support MSMEs.”

He added, “Micro, Small and Medium Enterprise Month will provide an opportunity for all stakeholders to take stock of the current environment for MSMEs and discuss and formulate new strategies to support and promote those businesses. We look forward to a fruitful and productive MSME Month.”

Samantha L Rolle, SBDC interim executive director, said after months of advocating for this initiative she is elated to see it come to pass.

“In the face of the COVID-19 pandemic and given the present signs of recovery in the Bahamian economy, the government of The Bahamas believes it is timely to highlight and recognise MSMEs and their invaluable contribution to our communities and the economy at large,” she said.

She added: “Since the onset of the COVID-19 pandemic we have seen a 40 percent uptick in our total number of funded clients. Year to date, we have received over 600 requests between funding programmes, advisory services and mentorship opportunities throughout seven islands.

“As we seek to expand our presence in the Family Islands and by enhancing our service offering, streamlining processes and continuing to forge strategic partnerships, we anticipate the exponential increase in our client base.”

MSME month stakeholders include the Small Business Development Centre, The Bahamas Development Bank (BDB), The Venture Capital Fund, BAIC, BAMSI and the government through its procurement practices, said Mr Halkitis.

On November 5, there will be a brunch and business series in Andros. On November 9, there will be another event in Eleuthera. On November 10, there will be a mix and mingle event for small business owners and entrepreneurs. On November 17, there will be the Long Island Business Outlook and the next day, there will be a mix, mingle and market series in Abaco. On November 22, there will be an all-access business forum at the Warwick Hotel on Paradise Island. The annual small business showcase will be on November 26, followed by the Grand Bahama business expo on November 28- 29. The month will conclude with an honorary celebration in New Providence on November 30.