The Small Business Development Centre (SBDC) and the Tourism Development Corporation (TDC) have been working closely to link entrepreneurs who have ideas related to tourism, with the large players in the industry such as Baha Mar and Atlantis. SBDC Executive Director Davinia Blair said 15 percent of the companies that have presented their business plans thus far have products and services related to tourism. Nassau offers the best opportunity to create linkages between tourism and entrepreneurs, Director General in the Ministry of Tourism Joy Jibrilu said recently, explaining that the TDC is sure to bridge that gap between tourism and small business. Blair said she and Janet Johnson, who heads the TDC, have met on several occasions and plan to launch specific programs and workshops targeted at advancing small businesses in the tourism sector. She added that she and Johnson also met with a team from Jamaica’s TDC, who are in town for the State of Tourism Industry Conference. After presenting at a sustainability conference last week, Jibrilu said The Bahamas has to ensure that Bahamians have a stake in the industry.“If Bahamians aren’t directly involved, if these linkages aren’t made, sustainability is just a buzzword we use,” she said. “You have a captive audience when you look at Nassau alone; when you look at the port with 3.5 million tourists getting off cruise ships, and they are desperate for things to do. They want the authentic, they want the food, they want the experience of the culture. We know with good ideas, hopefully there are people coming to the table now who will make that bridge possible. Jamaica has done it well, and it’s a model that works. Why don’t we borrow from it?” Blair said the SBDC will be working closely with the Bahamas Hotel and Tourism Association, as well as the Ministry of Tourism, to ensure links between small businesses and the wider tourism sector occur “that can produce goods and services required in the industry”. Via: thenassauguardian.com

Executive Director of the Small Business Development Centre (SBDC) Davinia Blair said yesterday that the first round of funding for businesses that have come through the center could go out before the end of this month. Blair said some businesses have come into the center with complete business plans and need only minimal or no coaching on the next move for their businesses. According to Blair, it is not known if the $5 million per year pledged by the government to help the development of small businesses will be used up before the next budgetary cycle, but she explained that the SBDC will go through the numbers submitted by companies and ensure that they are not underfunded. “Too many people start a business underfunded,” Blair said. “We configure those numbers to ensure they succeed.” Last week the SBDC officially opened its doors and has already served 49 clients representing a number of industries, said Blair. According to her, at least 11 percent of the people coming into the SBDC are interested in building a food and beverage-based business; about 14 percent have provided information about starting industrial/construction-based businesses; 14 percent retail; 14 percent entertainment and social media; and nine percent are technology-based companies. More than 950 people have signed up to be part of the SBDC and take advantage of its benefits. Appointments for entrepreneurs to meet with advisors are booked up to 2019 and continue to grow. Blair said recently that as potential entrepreneurs begin to see successful businesses grow out of the SBDC, more are likely to sign up. Via: thenassauguardian.com

The Small Business Development Centre (SBDC) had full classes yesterday, its first day in operation since officially opening last week. The center’s Executive Director Davinia Blair told Guardian Business that the center identified two clients with existing businesses who have presented the necessary documents to get them to the funding stage. Blair called yesterday’s first full day a “high energy day”. The SBDC hosted three sets of classes with 15 students each and began to connect business people with advisors. Some of those business people will need to be taken through the whole gamut related to developing their business ideas, in order to get them to the stage where they would be considered for funding, according to Blair. She said many of the students left the SBDC feeling like the classes had expanded their understanding of entrepreneurship and business. She added that the students came from many different backgrounds in terms of their professions. She explained that the first day of the SBDC’s operation revealed that The Bahamas has entrepreneurs with vibrant and diverse ideas. She added that five or six of those who attended yesterday asked to push forward more than one idea for consideration. More than 950 people have signed up to be part of the SBDC and take advantage of its benefits. Appointments for entrepreneurs to meet with advisors have been booked up to 2019 and continue to grow. Blair said recently that as potential entrepreneurs begin to see successful businesses grow out of the SBDC, more are likely to sign up. Via: thenassauguardian.com