Honourable Lindsay Grant, minister responsible for International Trade, Industry and Commerce, said the ministry is strengthening operations at the Small Business Development Centre (SBDC) while contributing to the Budget 2020 debate Tuesday — part of its strategy to advance the growth of entrepreneurship in St. Kitts and Nevis.
“The ministry continues to look for every opportunity to enhance the scope and level of support services available to entrepreneurs, and as such we continue our capacity-building efforts to ensure that staff at the SBDC is equipped to deliver meaningful and tangible interventions,” Minister Grant said, noting some 1,300 people have benefited from general technical assistance in business plan development, business training, assistance with import duty concession applications and general business counselling.
At a press conference earlier this month, Prime Minister Dr. the Honourable Timothy Harris shared data from the Ministry of Finance indicating that at the end of October 2019, there were 601 approvals granted for business licence applications — the largest approval number in history. Additionally, statistics from the St. Christopher and Nevis Social Security Board indicated that there were just under 1,500 active employers in St. Kitts and Nevis.
“The SBDC will be shortly launching its new service in the form of a strategy planning service and this will allow small businesses to strategically outline their businesses showing their desired outcomes and consequently, the appropriate intervention will be advanced by the Centre to ensure that we have effective and efficient management practices employed to optimize business success,” Minister Grant said, adding strategic relationships with other line ministries within the public sector, as well as private sector institutions, will be strengthened to “ensure the delivery of an all-embracing and holistic method of technical advice and assistance.”