The Tribune

By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

The Small Business Development Centre (SBDC) yesterday said it will stage multiple events throughout The Bahamas this month to highlight the importance of micro, small and medium-sized firms (MSMEs).

Samantha Rolle, the SBDC’s executive director, said: “The Small Business Development Centre is proud to announce the proclamation of November as National Micro, Small and Medium-Sized Enterprises month for the second consecutive year.

“[The month] serves to spotlight the pivotal role MSMEs play in the Bahamian economy, driving economic impact and fostering community growth and development. We’ve curated quite a number of events….

“We’re going to visit some Family Islands. We’re going to start with Grand Bahama with our brunch in business. It’s set up as an interactive, informational, entrepreneurial business session with local entrepreneurs within that community. We will then follow that by heading to Cat Island, Exuma and Abaco.”

Ms Rolle explained that the SBDC will collaborate with the Ministry of Economic Affairs, Aliv Business and Bahamasair to hold events and activities during the month that will celebrate and empower MSMEs.

She said: “The global community faced unprecedented challenges during the COVID-19 pandemic. And, as signs of economic recovery emerge, the Government of The Bahamas underscores the importance of celebrating and nurturing the thriving MSME sector.

“This year’s theme, ‘Empowering the Bahamian dreams’, will resonate throughout the month, emphasising the role of strategic partnerships and empowerment in fostering the growth of Bahamian entrepreneurs and businesses.

“We are elated to spearhead this prestigious opportunity to celebrate businesses throughout The Bahamas; the journey of empowering Bahamian entrepreneurs and business owners to realise their full potential continues.”

Ms Rolle added that the SBDC has received more than 2,000 requests for funding and advisory services over the past year and will continue to engage Family Island residents and forge partnerships with MSMEs around the country.

She said: “The SBDC impact in the last 18 months has doubled the number of approvals for our guaranteed loan programme, and in the last year received over 2,000 requests for funding programmes, advisory services and mentorship.

“As we expand our presence in the Family Islands, our aim is to strengthen our service offerings, streamline processes and build strategic partnerships, anticipating transformative growth in our client base.”

The Government’s strategies include increased access to funding, tax relief and incentivising joint ventures between foreign and local investors. Ms Rolle encouraged Bahamian entrepreneurs to participate in the MSME month activities, which will close with a celebration in New Providence on November 30.

She said: “Throughout November, national MSME month will feature a series of events dedicated to showcasing the accomplishments of talented Bahamian business owners. These events will culminate with an honorary celebration in New Providence on November 30, symbolising the successful conclusion of a month devoted to empowering Bahamian dreams.

“We encourage individuals to follow our social media pages at Access Accelerator to stay informed about the full month of activities and the impact of MSMEs on the Bahamian economy.

“We realise that on the Family Islands it’s a little different in terms of getting the word out there so we’ve connected with all of our strategic partners across the islands. We’ve connected with the pool of administrators, community local mayors, community leaders all to get the word out. All are welcomed and none will be turned away so please come and join us.”