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News & Updates

Learn about SBDC, updates, insights and upcoming in the community.

Jamaica Manufacturers and Exporters Association conducts Bahamas trade mission

From October 10th to 12th, 2023, the Jamaica Manufacturers and Exporters Association (JMEA) conducted a crucial trade mission in Nassau, The Bahamas. Powered by the Bahamas Trade Commission, Small Business Development Centre (SBDC), and Bahamas Chamber of Commerce and Employers' Confederation (BCCEC), this mission aimed at fostering tighter economic ties and promoting regional integration.

The three-day mission included an opening ceremony and trade expo at the SBDC's head office on Gladstone Road on October 10th, followed by business-to-business (B2B) meetings on the 11th, and a day of market visits on the 12th. Seven prominent Jamaican companies, including Caribbean Broilers, Dynamic Chemicals, Fosrich, Jamaica Broilers, Jamaica Idealle, Spur Tree Spices, and ThomoVybes Manufacturing Ltd, actively participated.

These businesses held crucial B2B meetings with several Bahamian giants such as Commonwealth Brewery Limited, Light- bourn Trading, Sysco, and Caribbean Bottling Co. Ltd. They also toured various market outlets, including AID, Centerville Food Store, Super Value, and Xtra Value.

Ambassador Winston Pinnock pointed out the Caribbean Community's (CARICOM) goal of reducing imports from outside the region by 25 percent by 2025 and emphasized, "We need to grow what we eat and eat what we grow."

Key remarks from influential figures are summarized below:

Senator Barry Griffin, deputy chairman of the Bahamas Trade Commis- sion, emphasized the importance of greater trade and business facilitation throughout the Caribbean. He remarked, "Caribbean integration, regional trade, and the promotion of Caribbean business as a whole must be what we base our future prosperity on."

Samantha Rolle, SBDC executive director, highlighted the robust nature of the micro, small, and medium enterprises sector in Jamai- ca. She stated, "Working collaboratively to execute the JMEA trade mission will further support both nations in achieving greater economic resiliency."

Khrystle Ferguson, chairman of the BCCEC, underscored the necessity of continuous cross-border trade, remarking, "We need to come together and support each other in the Caribbean region."

Are electric vehicles more affordable?

The Small Business Development Centre (SBDC) has taken a significant stride forward in promoting electric mobility throughout The Bahamas. In August, the SBDC reached out to entrepreneurs across the islands with the pivotal electric vehicle survey, aiming to gauge perceptions and readiness for a paradigm shift to greener transportation.

Through this hands-on event, entrepreneurs could test drive a range of electric vehicles, deepening their understanding and appreciation for electric mobility. Easy Car Sales provided in- sights into the functionality, affordability, and availability of EVs, while the SBDC illuminated avenues for funding, eligibility, and application procedures.

This survey set the scene for the grand unveiling of the E-mobility Initiative in September in Eleuthera, in partnership with Easy Car Sales Ltd. The initiative showcased a groundbreaking three-day electric vehicle roadshow between September 26-28.

Phyllice Bethel, deputy executive director at SBDC, emphasized the larger objective, stating, "The aim of the Electric Mobility Initiative is to inform entrepreneurs about how electric vehicles can enhance their business profitability and sustainability. With rising fuel costs and the need to traverse long distances, it was essential to launch the initiative in Eleuthera."

Pia Farmer, co-founder of Easy Car Sales, highlighted the international trend: "Sales of EVs have soared, capturing 10 percent of all new car sales in 2022. The future is electric, aligning with both national energy targets and global environmental commitments."

Some compelling reasons to consider the switch to EVs:

• Predictions suggest that by 2030, electric vehicles will constitute over 60% of global vehicle sales.

• By the end of 2023, electric vehicles may become as affordable as their gasoline counterparts or even cheaper.

• Electric vehicles offer fuel cost savings, benefit from a mere 10 percent customs duty, and significantly reduce pollution and climate change impact.

Moreover, echoing the commitment to green initiatives, Drive Green Bahamas, steered by Benjamin Davis, the first funded client of the SBDC, continues to showcase a pioneering zero-emission car rental fleet.

Access Accelerator, Small Business Development Centre Celebrates Four Years Nassau, Bahamas

Access Accelerator, Small Business Development Centre (SBDC) is celebrating four years of empowering Bahamian entrepreneurs and business owners to reach their full potential through access to funding opportunities. The anniversary was celebrated with a press reception coupled with the launch of a new programme that will positively impact The Bahamas’ food production industry.

The Interim Executive Director Samantha Rolle said it was important that Access Accelerator celebrate its accomplishments.

“Our people provide an extreme level of commitment to our clients. The greatest reward that our team members experience is when our clients succeed. Our clients advancement of achieving their goals and dreams as entrepreneurs validates the success of the organisation,” she said. “The success of these individuals highlights what we are doing, our level of investment, our results and ultimately our impact. Commemorating every year that we have advanced Bahamian small business is certainly an achievement to celebrate.”, she added.

Since its establishment, Access Accelerator has serviced approximately 1,934 clients disbursing a total of 73 million dollars across 40 industries and 15 islands. It is notable to mention that 48 percent of the SBDC's client base are females and 52 percent are males.

Ms. Rolle said Access Accelerator’s key pillars are people, process and product. "My principal focus is to foster a results-driven, progressive culture leaning on the strategic values of people, strengthening partnerships - internal and external - enhancing our service delivery, and finally accelerating access for all," she said.

For Access Accelerator how we show up with our clients, partners, and our wider communities is important to us. To this end, we have adopted Sustainable Development Goals (SDG's) which will serve as the blueprint to accelerating action in equitable and inclusive processes that will improve the health and well-being of our Bahamian people and the planet at large. One of our primary SDG's is Zero Hunger, and as we mark the 4th anniversary of the organization, we are pleased to announce the launch of the Sustainable Food Growth Grant, a collaborative effort with the Ministry of Agriculture, Marine Resources and Family Island Affairs to develop production systems for national food security.

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Past Events

Additional Info Session for the Sustainable Food Grant

Date: 2023-12-11
Time: 06:00 PM -

MSME Honors

Date: 2023-11-30
Time: 07:00 PM -

Info Session for the Sustainable Food Grant

Date: 2023-11-29
Time: 06:00 PM -

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