By LLONELLA GILBERT
NASSAU, Bahamas (BIS) — Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest said by bringing in additional funding from Access Accelerator Small Business Development Centre’s (SMDC) partners, the government’s $5.5 million allocation for micro, small, and medium-sized businesses has been leveraged to secure up to $9 million in capital financing for small businesses across The Bahamas.
“This is the largest single allocation of investment funds for Bahamian entrepreneurs that has ever been made by the Government of The Bahamas,” DPM Turnquest said during a press conference at the House of Assembly on Wednesday, February 6, 2019.
The partners include Scotiabank, The Bahamas Entrepreneurial Venture Fund, RBC Banking and The Bahamas Development Bank. The DPM explained that by signing onto the access to capital agreement, the partners have demonstrated that Bahamians are worth taking a chance on and investing in.
“This programme is specifically designed to give access to capital to young Bahamians and Bahamians from disadvantaged backgrounds who have ideas but have never had the opportunity because they do not have the means,” the DPM said.
