The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

THE Grand Bahama Port Authority’s small business recovery grant programme will receive matching grant funding of $100,000 from the government’s Small Business Development Centre to assist small businesses.

GBPA President Ian Rolle “welcomed” the partnership with the government and its support of their SBRG initiative, which was launched in May.

“Today we are pleased to welcome the partnership of SBDC, which now joins the Bahamas Red Cross (BRC) and the GBPA partnership, adding $100,000 in funding to support this initiative,” he said on Monday.

“Working together in a public-private partnership will further assist micro-businesses to redevelop and rebound post-Dorian and during this period of COVID-19. We thank BRC and SBDC for partnering with us for the betterment of our small business community,” he stated.

Davina Blair, executive director of the Small Business Development Centre, said the group is pleased to provide a match in funding of $100,000, joining a civic entity and a private corporate entity in assisting the recovery of Grand Bahama’s small business sector.

“These partnerships are really important,” stressed Ms Blair, who noted that government has invested nearly $4m in Dorian recovery and over $37m in COVID recovery.

Last September, many small and micro-businesses were adversely affected by Hurricane Dorian, and in March recovery was further compounded by the COVID-19 pandemic shutdown.

Recognising the difficulty being faced by many businesses, Mr Rolle said GBPA saw the need to provide “a push for this very important segment of the local economy.”

The SBR programme will award some 80 grants in amounts of $3,000, $4,500, and $6,000 to micro-licensees and vendor permit holders on Grand Bahama, operating within the sectors of fishing, farming, craft, and souvenir vendors, food vendors, micro-retail services and home-based service businesses.

Recipients will also receive training in finance, marketing, and disaster preparedness, as well as a free one-year membership with the Grand Bahama Chamber of Commerce. Training and business support are coordinated by the Invest GB Small Business Bureau.

Mr Rolle reported that during round one of the programme, 32 businesses received grants totalling $159,000 and that round two commenced with some 97 candidates that have advanced to the final review round.

“We thank BRC and SBDC for partnering with us for the betterment of our small business community,” he said.

According to Ms Blair, it is the first time that the government’s Access Accelerator matching grant programme has partnered by matching up with an outside organisation “to support to those who need it most.”

“I am really excited we are collaborating this way. It is good we can connect financial resources… We are happy and excited to join to BRS and GBPA in assisting entrepreneurs,” she said.