The Tribune

By YOURI KEMP

Tribune Business

Reporter

ykemp@tribunemedia.net

THE SMALL Business Development Centre (SBDC) is this year aiming to help 200 micro, small and medium-sized (MSME) enterprises access an average $100,000 in funding each through its Guaranteed Loan Programme.

Samantha Rolle, the SBDC’s executive director, addressing the University of The Bahamas (UoB) Business Week, said that while the agency is not a direct provider of financing “we ensure seamless facilitation to access to capital for our clients through various programmes” and partner lending institutions.

“We have the Guaranteed Loan Programme, and our flagship programme offers eligible start-ups and existing MSMEs on all islands of The Bahamas access to grants, loan and equity funding,” she explained. “So with the support of our strategic partners, we will execute monthly initiatives focused on critical problems in the local market, such as food security, affordable housing, export barriers, youth unemployment and gender inequality.

“In 2023, our goal is to identify approximately 200 MSMEs with innovative solutions to help them access an average of $100,000 in funding through the Guaranteed Loan Programme.” This funding is open to all sectors in the economy and can cover items such as equipment and facility upgrades, personnel and technological improvements as well as sustainable development projects.

Ms Rolle added: “As pertinent issues such as climate change and resource depletion continue to impact the business world globally, Bahamian business owners must recognise the importance of assessing their sustainability risks and taking swift, decisive action to mitigate loss and environmental threats.

“So driving businesses towards sustainability requires strong leadership from leaders who are not afraid to challenge the status quo and take critical steps in the right direction to improve the resilience of MSMEs to create a more sustainable future.”

The SBDC chief continued: “Each year the SBDC and its partners host training seminars and events to educate and inspire local entrepreneurs. During the month of March alone, we hosted what we called ‘Level Up’, and that’s a community based training workshop for start-ups and entrepreneurs that we intend to hold quarterly. It’s essentially SBDC representatives, along with some of our strategic partners, engaging small businesses and entrepreneurs within their environment in their community.

“We also hosted what we call the intellectual property seminar IPP, and that was part of our creative entrepreneurs initiative that was launched. Essentially what that was about is protecting your intellectual property. Again, legislative policy-based initiatives that are needed to ensure that your bright idea, your innovation, is protected.”