Low-interest rate loans are being promised to the local business community under a new National Democratic Party (NDP) administration.
NDP Chairman Myron Walwyn said this would be done by pumping millions into government’s National Business Bureau (NBB).
He described assisting local entrepreneurs as one of his party’s priorities.
“This new NDP will immediately, upon taking office, fund the NBB with $10 million to provide very low-interest rate loans and in some cases grants to farmers, fishermen and other entrepreneurs seeking to further develop their business,” he said while speaking at the launch of his party’s Territorial At-Large candidates in Road Town at the weekend.
“With a strengthened NBB, we want to hold the hands of new and promising entrepreneurs and business people. We know that we must ensure that our economy first serves our people and our needs,” he said.
The NDP Chairman further said the NBB will “ensure that entrepreneurs and business owners — young and old — are able to actively participate in the development of the territory.”
The politician argued that the existing NBB must also be properly staffed with ‘experts’ to assist business owners to make good business decisions.
The NBB, which falls under the Department of Trade and Consumer Affairs, was established to cater to the needs of the Micro/Small/Medium Enterprises sector.
Its overall mandate is to create an environment where the business community could thrive.
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