Agencies meet to discuss strengthening the capacity of SME's in British and Dutch OCT's
29/07/2010
The European Development Fund (EDF) has earmarked EUR 15 million for a regional programme to focus on strengthening the development of Small and Medium Enterprises (SME's) in the British and Dutch overseas territories. Based on this decision, representatives from the Department of Commerce and Investment (DCI) and the Cayman Islands Small Business Association (CISBA) met with their regional counterparts in Tortola earlier this month to find a strategic approach to the allocation of these funds which are intended to reduce social, economic and environmental vulnerabilities of SME's.
Much of the two-day meeting was spent brainstorming ways to drive enhanced cooperation and competitiveness that should eventually lead to increased employment within the sector, a growth in market share and an extension in the lifespan of small businesses. Tactical solutions presented included developing a regional database to increase market access, sharing best practice, and securing technical support for the capacity building programmes of SME intermediaries to facilitate the on-going provision of training opportunities in the areas of business planning, resource optimization, ICT, marketing and management skills.
DCI Business Advisor, Charmaine Moss, spoke highly of the workshop. "DCI and CISBA benefitted immensely from attending this session. Not only were we able to use the peer-to-peer exchanges to gain insights into what other territories were doing but we were also able to share challenges re policy constraints and actively participate in forums geared towards finding effective mechanisms to create strong linkages within the region's OCT's.
Consultants are expected to submit a draft report to the EDF in August summarizing the meeting outcomes and a decision will subsequently be made on the distribution of funds based on the findings and each country's needs assessment.
Photo Caption: Delegates who attended the SME workshop held July 15-16, 2010. Agencies from Anguilla, Aruba, BVI, Bonaire, Cura?ao, Montserrat, Saba, St. Eustatius, St Maarten, Turks and Caicos and Cayman Islands were represented.
