The first in a series of Community Business Meeting organized by the National Entrepreneurial Development Division (NEDD) was held at the St. Paul’s Community Center on Thursday 30th March 2017. The meeting commenced at 6:30pm and saw about Thirteen, (13) persons in attendance.
These participants are from the following sectors:
- Food and Beverage;
- Small shops/Supermarket.
Presentations were made by:
- Mr. Phillip Browne, Director of NEDD
- Mrs. Kimoy Oloughlin, Development Bank of St. Kitts-Nevis
- Ms. Kamillah Lawrence, St. Christopher and Nevis Social Security
Some of the major issues raised during the discussion session are as follows:
- High cost incurred in starting a small business;
- Availability and likelihood of accessing financing;
- High requirements of financial institutions;
- Necessary requirements in attaining a small business loan;
- The different small business loan available;
- Securing the property of small businesses;
- Social Security and how small businesses can benefit from contributions paid;
- The perception of small businesses in the Federation and by financial institutions;
- Clear and concise procedures as it relates to obtaining Duty Free Concession;
- The length of time in processing Duty Free Concession;
- Importance of registering your business (Business Licence)
Stay tuned for more great work from the National Entrepreneurial Development Division (NEDD) in the coming weeks.