BASSETERRE, St. Kitts – HIGH hopes and optimism in the National Entrepreneurial Development Division (NEDD) have not been reflected in the establishment of the government’s initiative, as intricate plans were not actualised months after its intended deadline.
NEDD, which was announced last year as an initiative of the Ministry of Finance to provide assistance for new and emerging small businesses, was expected to be “up and ready” by March of this year. But, some three months after the anticipated launch, there has been very little work done in preparation of the entrepreneurial initiative.
In a December 29 interview with SKNVibes, Minister of Finance and International Trade Dr. the Hon. Timothy Harris was optimistic that the NEDD would be established within the first few months of 2009 in order to begin assisting emerging businesspersons.
“By March, NEDD should be fully established and would be up and ready to bring all the plans into final realisation. We are finalising the recruitment of additional technical support staff to provide assistance in developing business proposals and advising prospective entrepreneurs interested in launching into business. We already have applications for staff being processed, and are currently working on getting equipment and our website, which should expedite the process,” Harris informed.
In the 2009 Federal Budget, close to EC$300 000 was allocated to the Ministry of Finance for NEDD, with the bulk of the allotment geared toward the establishment of the new federal division. Yet, approximately six months after last year’s Budget Debates, the Ministry has made very little progress in establishing NEDD.
According to Harris, “The NEDD hasn’t moved as quickly as I would like. We are currently awaiting new quarters because there was not enough space in the Department to allow the kind of services that we were planning for. Once the resolution of the space issue is reached, then we should have a comfortable space to allow that kind of arrangement. The space has not yet been developed in manner in which we would like,” Harris explained.
Harris informed however that his ministry was able to attract additional resources in persons who could provide technical support. He said the initiative now has two men from the Small Enterprise Development Unit (SEDU) and also a graduate with a degree in marketing to prepare for the establishment of NEDD.
Minister Harris reassured the public that he would “see what measures are countervailing so that it [NEDD] can be fleshed out”. He said a more informed report would be issued by his Ministry by early July.
