NEDD recalibrates for official September launch

BASSETERRE, St. Kitts –OPTIMISM is slowly returning to the National Entrepreneurial Development Division (NEDD) as officials from the Ministry of Finance, International Trade and Commerce have announced the initiative is “well on its way” to an official launch next month. 

NEDD, which was announced last December 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. 

Despite a roughly five month delay, Business Development Officer Phillip Browne indicated that much progress has now been made and the ministry will be focusing its efforts on preparing for a September launch.

Browne said that although NEDD has not been established according to the planned timeframe, the new programme has been providing a “wide range of technical support” to emerging businesspersons in the Federation. 

He informed that in excess of 15 persons and new businesses have been assisted by NEDD, and that the ministry expects increased numbers once it is fully operational. 

“Among the services being offered are business start-up consultations, business plan development, recordkeeping support and consultation, lectures to business classes and workshops, as well as the coordination of workshops and seminars covering topics in various business disciplines,” Browne outlined. 

“The government has sought to ensure that the services which are critical to the growth and development of the small and medium enterprise sector are available and accessible to the public,” he added.

Browne attributed the delay in the full actualization of plans to a lack of physical space, a problem Minister of Finance Hon. Dr. Timothy Harris had identified two months prior.

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, but there were a number of problems in getting a building to house NEDD.
Recent developments have brought good news to the ministry, as Browne indicated that NEDD will now be located at the Bladen Commercial Development Site.

“The work and mandate of NEDD would be grounded in the National Policy on Small Business Development St. Kitts and Nevis and the anticipated passing into law of the Small Business Development Bill,” Browne said about plans to formalize the new government division.

No date has been given for the launch, but ministry officials have confirmed that it will be preceded by a series of media events and public service announcements.