The Tribune

A village of Bahamian businesses offering cultural experiences for visitors has secured a $93,000 equity investment through the Small Business Development Centre (SBDC).

iDiscover, which offers experiences including three chefs, 10 farmers and 16 craftspeople, obtained the financing from the Government-sponsored venture capital fund known as the Bahamas Entrepreneurial Venture Fund.

Tehranique Darrell said she and her team created iDiscover in response to visitor needs and demand. She started walking tours in downtown Nassau to take visitors from Parliament Square to the British Colonial Hilton.

During the tours, guests would constantly ask if there was a nearby option that allowed them to buy souvenirs and enjoy creative experiences in one place. As she continuously told her customers “no”, Ms Darrell began asking herself: “Why not?”

This inspired her, together with her business partners, to begin researching market trends, vetting interested vendors and creating training programmes. This led to iDiscover’s creation, and the assembly of a niche market that serves the needs of both consumers and Bahamian artisans.

“The team and I found out about the Access Accelerator from the newspaper during its initial roll-out,” said Ms Darrell. “Honestly, we knew that we had almost every area covered within the company except funding, which is usually the case with small businesses. We signed up just to see how far it would go. It was more curiosity than anything else in the beginning.

“It has been a long and winding journey. I hate to sound cliché, but we are grateful, we are excited, and we are ready to get started. The access to this capital takes our vision and turns it to reality. Once construction is complete, the site will come alive with eager craftsmen and farmers.

“This is where the work begins,” Ms Darrell continued. “Having a business advisor and the support of a knowledgeable team made the difference between wandering in the dark and having a lit path to success for iDiscover.

“There are so many things to consider when attempting to access capital. My advisor was able to shed light on all options and how they would affect my company and its operations.”

Encouraging other small business owners to approach the SBDC, Ms Darrell said that while the process may seem tedious it is necessary, allowing entrepreneurs to consider all things and prepare for all possibilities.

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 works to guide the development, funding, growth and evolution of micro, small, and medium-sized enterprises (MSMEs) in The Bahamas.