NEDD “set and ready to go” for 2009
By VonDez Phipps
Reporter-SKNVibes.com
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Minister of Finance and International Trade Hon. Dr. Timothy Harris
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BASSETERRE, St. Kitts – IN a recent interview with SKNVibes, Minister of Finance and International Trade Hon. Dr. Timothy Harris declared that his Ministry is very optimistic in the National Entrepreneurial Development Division (NEDD) being “up and ready” for the upcoming year.
NEDD is an initiative of the Ministry of Finance to provide assistance for new and emerging small businesses by offering them start-up incentives. The Division is expected to give recommendations and support to guide prospective entrepreneurs in the early stages of the business. In this year’s 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.
Dr. Harris noted, “We are finalizing 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. ~~Adz:Right~~
“Last week, we took to Cabinet to discuss the necessary legislations to be enacted to give the kind of support for small and medium-sized businesses. In fact, we are hoping to have a more transparent regime in that any individual, once they meet the requirements, will be afforded the opportunity to receive aid. As a part of the package of establishing NEDD, we have recently received Cabinet approval for legislation, organizational structure and the necessary public awareness and education programmes.
“By March, NEDD should be fully established and would be up and ready to bring all the plans into final realization. We have had the full support of the St. Kitts-Nevis Chamber of Industry and Commerce and local business players in terms of recommendations for the new project. We have been in discussions with the relevant Ministries and have also had input from a consultant, Melvin Edwards, and the International Labour Organization (ILO).”
Harris said the finer details including the physical space for the Division are all expected to be finalized in the early part of the new year.
