The Caribbean Export Development Agency (CEDA) and the Access Accelerator, Small Business Development Centre (SBDC) partnered to have three Bahamians participate in the Business of Music (BOM) programme hosted by CEDA.  Terneille Burrows, Sonovia Pierre and Jason Ferguson represented The Bahamas in the programme with Burrows and Ferguson recently traveling to Barbados to attend a two-day face-to-face workshop.  The BOM programme is facilitated through webinars and exists to help persons within the music industry overcome challenges when seeking to export their products. The programme covers topics such as digital platforms, intellectual property (IP), distribution and promotion.  A 2015 study conducted for CEDA by the Visual & Performing Arts Jamaica (VPAJ) and KEA European Affairs (KEA) revealed several challenges faced by artists when trying to export. The main challenge faced by creatives was access to finance with lack of support also being a big issue.  Burrows, a Bahamian artist, writer and producer, found the experience to be useful to the business side of her craft.  “The BOM training covered a wide range of topics predominately about digital distribution and marketing,” Burrows said. “It was highly beneficial, and I will be able to use the information to maximize marketing efforts through platforms such as Facebook, Instagram and YouTube.”  Burrows continued, “My expectations were to expand upon my knowledge of the digital music industry and my expectations were met. As a Bahamian music creative, it’s very important that we take advantage of opportunities for advancing our knowledge of the music industry. This can contribute on a wider scale to enhancing the fledgling local music industry.”  Ferguson who also participated in the face-to-face sessions in Barbados described his experience as enlightening and realized that colleagues within the region faced similar issues. “My trip to Barbados was a very enlightening experience and one that I wish to be a part of again,” Ferguson said. “The networking with fellow Caribbean colleagues from the industry solidified the fact that we all have similar issues. Through group and one on one discussions we were able to find out that some Caribbean islands are doing exceptionally well in their cultural efforts.”  While Ferguson believes that the networking done in Barbados was the most valuable part of the experience, he also gained knowledge that will benefit him and his craft.  Ferguson said, “The BOM training brought a lot of clarity to quite a few questions that I and artists that I’ve worked with may have. I now have a wealth of knowledge that I couldn't be more grateful for. The information relayed through the training will help me to be a better producer, musician and ambassador for the country.”  He continued, “With the right avenues and resources I am open to helping my fellow artists to improve their craft and make a better industry for us all. I plan to implement the small training in my everyday productions. I honestly believe that by empowering persons to be globally minded we can hopefully be better at what we do.”  The SBDC is the product of a tripartite arrangement between the Government, through the Ministry of Finance, University of The Bahamas (UB) and the Bahamas Chamber of Commerce and Employers Confederation (BCCEC). The Centre will work to guide the development, funding, growth, and evolution of Micro, Small and Medium-sized Enterprises (“MSMEs”) in The Bahamas.

The Access Accelerator, Small Business Development Centre (SBDC) is aiding persons having issues applying or renewing their business licenses on their own through the online process. The business license process is entirely digital and is accessible from any smart device via The Department of Inland Revenue's website. The department has also put in place a Call Center that helps persons over the phone.  However, the move to create an appointment-based system came after the SBDC office continued to see a significant influx of persons physically coming to the location for business license assistance.  Now, business owners who require additional assistance, after trying to complete the process on their own and contacting the Call Center, can make an appointment through the SBDC.  According to Davinia Grant, Executive Director of the SBDC, while the number of persons applying and renewing business licenses is a good sign, the requests for assistance is overwhelming.  Grant said, "The number of persons we have seen coming in to apply or reapply for business licenses is promising and shows that Bahamians are serious about starting and continuing their businesses the correct way. We are finally to a point where the business license process is entirely digital. There is no need to visit the SBDC or Department of Inland Revenue physically.  "However, persons are still coming in to receive assistance. It can be that many individuals are still unaware that the process is online or persons are having issues understanding the online process."  Grant continued, "The appointment process is the final option for assistance and should be considered the last option. Doing the process online and receiving assistance where necessary via the Call Center is quicker than booking and waiting for a specific date and time for assistance."

Accessing capital was next to impossible in the past for entrepreneur James Woodside, who recently received $112,500 in investment loans from the Royal Bank of Canada (RBC) thanks to the assistance of the Access Accelerator / Small Business Development Centre (SBDC). Woodside’s company Alvernia Business Consulting (ABC Bahamas Ltd.) provides information technology services to small and medium-sized enterprises (SMEs). Woodside attempted several times to secure funding to expand his business, which was started in 2003, but was unsuccessful. “Accessing capital as a service-based company is next to impossible unless you already have funds or personal assets equaling in value to the amount requested,” Woodside said. “Most banks that I’ve approached required 100 percent equity financing for business loans.” Now that Woodside has been able to secure funding through RBC with the assistance of the SBDC, he will be able to grow his company. ABC currently provides network design and implementation services, virtualization, private clouds, offsite backups, new office setups, office migrations, custom application deployments, software upgrades, computer lab repairs, point to point and point to multi-point wireless, internet protocol (IP) surveillance, IP telephony deployments, structured cabling, electronic document management, security assessments and business continuity planning. “The technology company leads and assists with technical support, procurement and implementations,” according to a press release on the awarding of the funds. “ABC Bahamas Ltd. reached out to Access Accelerator after seeing an ad on Facebook to further expand the company’s services. “To better provide key technology for SMEs, the tech company needs to build its own infrastructure to implement the technology. With the funds accessed through the organization, ABC Bahamas Ltd. will bring new products to market.” Woodside said he is grateful to have received the funding and is eager to further assist businesses with their technological endeavors. “We want to ensure that both the client and our company continue to grow sustainably,” he said. “The symbiotic approach is working and we have already seen how this approach is helping our clients expand into new areas.” Woodside said it’s these partnerships that motivate him. “They inspire me – when the fruit of our services not only benefits Alvernia Business Consulting, but our nation.” According to Woodside, the SBDC further assisted his company through constructive feedback, vetting and fine-tuning of his business plan. “Sometimes when business owners like myself love what we do, we don’t take the time to ensure documentation and verification of our business strategy and processes,” Woodside said. “Looking back, being assigned a business advisor was a double-edged sword but necessary. Assessing your business as a whole and documenting your long-term strategy was taxing and frustrating, but measuring 100 times to cut once is ultimately worth it.” Via: thenassauguardian.com