The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The Small Business Development Centre’s (SBDC) executive director yesterday said it has invested $800,000 in in female entrepreneurs via 87 grants.

Samantha Rolle, speaking at the award ceremony for the 53 New Providence grant recipients, said that after conducting a survey of female-headed businesses they noticed that while women felt they have equal access to training only 35 percent believed this holds true on financing.

As a result, the SBDC decided to launch the Women Entrepreneurs Standalone Grant, where its fielded “over 600 applicants from around the country".

Ms Rolle said: “Also noteworthy is that 98 percent of women rate their optimism about improving the Bahamian economy at five or above, while 61 percent of women rated their fear of failure as a five or above.

“While these numbers indicate that many women believe there is a disparity between women and men relative to entrepreneurial funding, there is a silver lining with the optimism women have about their ability to positively impact the economy and the MSME (micro, small and medium-sized business) sector at large.”

The recipients of yesterday’s grant awards were all from micro and/or small businesses. The grants ranged in amount from $5,000 to $10,000, with the entrepreneurs involved in industries such as agriculture, clothing and apparel and business consultancy services.

Khrystle Rutherford-Ferguson, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chair, said the private sector body is committed to giving grant recipients the support they need to continue to grow their ventures through advocacy and training.

She added: “I think any time funding is able to be dispersed in the hands of women entrepreneurs, entrepreneurs on the whole, it's a good day for The Bahamas and for the business community. One of the key cornerstones that businesses continue to complain about is their access to financing.

“So when you look at efforts, like what SBDC is doing, it is to narrow that gap. There is a gap between businesses having access to that financing, and also having some information with regard to how to start, grow and expand their businesses.”