SBDC Awards Energy Stars with Grants and Free Energy Audits

Created By:
Renzo Da Silva
March 29, 2023

The Small Business Development Centre (SBDC) hosts the inaugural Energy Efficiency Star Awards, a ceremony recognizing the Top 10 energy efficient Bahamian business across a number of industries.

The awards ceremony held at Baha Mar, was the closing event for the Renewable Energy Initiative under the umbrella of the Guaranteed Loan Programme, a programme designed by the SBDC to help micro, small and medium-size enterprises (MSMEs) address a myriad of critical issues such as climate change, export barriers, gender inequality and more.

Minister of Economic Affairs Hon. Michael Halkitis said it is important for individuals to stay informed of industry developments, local and foreign policy changes and technological advancements in order to build a successful and sustainable business.

"A part of the SBDCs mandate is to increase the ability of MSMEs to drive the development of a resilient economic future, however to build a resilient future requires building the future of energy." he said.

SBDC Executive Director Samantha Rolle said the organization was excited to celebrate these 10 business owners for their efforts towards making their businesses energy efficient and ultimately, more sustainable.

“As a part of the Renewable Energy initiative launched in February, we conducted an Energy Efficiency Survey where hundreds of business owners from New Providence and the Family Islands participated. After a tedious adjudication process in collaboration with Bahamas Power & Light, Grand Bahama Power Company and Certified Energy Auditors, ten businesses shined luminously amongst the applicants who applied,” Rolle added.

The 10 Energy Efficiency Stars consists of businesses in New Providence and the Family Islands and are as follows.

1st Place - J&M Island Shops (Eleuthera)

2nd Place - The Promise Institute (Andros)

3rd Place - H. Russell Convenience Store (Andros)

4th Place - Sawyers Studio (New Providence)

5th Place - A&M Electrical Supply (Long Island)

6th Place - Best Energy Bahamas (New Providence)

7th Place - Perfec-Tone Bahamas (New Providence)

8th Place - MGS Food Store (Long Island)

9th Place - The New Duff Limited (New Providence)

10th Place - New Life Vegetation and Cell food limited (New Providence)

The Top 3 winners received a cash injection into their business of $10,000, $7,500 and $5,000 respectively, a FREE energy audit and a commemorative plaque and the remaining 7 finalists received a discounted energy audit along with a commemorative plaque.

The culmination of the evening was the announcement of 5 MSMEs that were approved for funding through the Guaranteed Loan Programme in the month of March. Salt Life Sanitation on the island of Acklins was approved for $100,000 through Bahamas Development Bank and MALTD in Andros was approved for $300,000 through Royal Bank of Canada. Fidelity Bank Bahamas Limited stood out amongst the funding partner pool with the highest funding amount and number of approvals. Crystal Cleaning Company was approved for $60,000, Pancakes, Omelettes and Waffles (POW!) was approved for $165,000 and Sign Island was approved for a $420,000 guaranteed loan, all through Fidelity Bank.

Interim Deputy Executive Director Phyllice Bethel extended thanks to Bahamas Power & Light, Grand Bahama Power Company, Certified Energy Auditing Services and Bahamas Chamber of Commerce for partnering with the SBDC for the Renewable Energy Initiative and expressed gratitude to a host of funding partners for supporting the Guaranteed Loan Programme and the 11 special initiatives planned for this year.

"Tonight's celebration and major announcements would not have been possible without strategic partners and an amazing team of business plan writers and reviewers, chartered accountants, family island advisors, investment committee members and the hard-working team at the SBDC. This is only the beginning for the Renewable Energy Initiative." she said.

Small Business Development Centre Logo black
Equipping and Empowering Micro, Small and Medium-sized Enterprises (“MSME`s”) in The Bahamas
X Twitter GraphicShare Graphic
Copyright © 2023, SBDC | All Rights Reserved. Developed by CSB Tech