National Business Bureau ‘up and running’
Deputy Premier Lorna Smith has announced that the National Business Bureau (NBB) is fully operational after months of preparation.
During an interview with JTV, Smith expressed satisfaction with the positive response to the Bureau’s grant programme. “As of today, we have some 30 applications, which is quite impressive,” she stated.
Smith described the Bureau’s MSME Grant Programme as a vital initiative to support the growth of local businesses, create jobs, and strengthen the economy after the announcement that several committee members had been appointed. Following a formal application process and subsequent Cabinet approval, the appointments became effective on October 1, 2024.
The newly appointed committee members are Shaina Smith-Archer, Russell Harrigan, Janice Skelton, Kevin Smith, and Lincoln Bobb.
“With the collective experience, expertise, and dedication of the Grant Selection Committee members, I am confident that we are well-positioned to ensure that deserving enterprises have the resources and guidance they need to succeed. I look forward to seeing the positive impact of their work on our community,” Smith stated.
The NBB plays a crucial role in supporting local businesses, particularly micro, small, and medium-sized enterprises. “I’m hoping there will be more funds forthcoming,” Smith explained. She noted that the committee will soon review the first set of applications, and this process will determine which businesses are eligible to receive financial support. The NBB provides both financial and technical support to businesses.
This includes grants aimed at helping established businesses grow and programmes designed to foster innovation and creativity among entrepreneurs. Smith pointed out that innovation is a key criterion for receiving support this year. “We are emphasising persons who are currently in business,” she explained.
“One of the criteria, of course, is innovation.” Beyond grants, the NBB will also offer training and mentorship opportunities. Smith revealed that partnerships with local institutions, non-profit organisations, and banks are being established to strengthen the Bureau’s business development initiatives.
This includes access to loans and other financial resources. “I am very pleased with the response I’ve had from all of the banks,” she noted.
Sixth District Representative Myron Walwyn previously raised concerns about funding for the NBB, with just $100,000 set aside from the budget at one stage.
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This woman is a waste of time just like the rest of the clown brigade. I want wait to vote her out
LMAOOO JUST SO !
She is one of the few working
The Deputy Premier is proving to be a significant asset for the VIP, with her quiet confidence and capability yielding tangible results. In many ways, she reminds one of her brother, Hon. Mark ‘Action Man’ Vanterpool, who earned that nickname for his ability to get things done. There’s no doubt she brings credibility to the BVI on the international stage, which not only benefits the financial sector but also positively impacts tourism. Credit must go to the Premier for not feeling threatened by placing such a highly accomplished individual in a powerful role. Too often, leaders try to undermine high achievers to protect their own position. This Premier, however, is demonstrating a forward-thinking approach to leadership, one that embraces talent and capability for the greater good.
YOU HAD YOUR CHANCE IN THE HOA TO SHOW INTEGRITY , BUT CHOOSE TO DISRESPECT THE POSITION OF SPEAKER , AND THE PREMIER SAW THROUGH YOUR DISGUISE AND DROPPED KICKED YOU OUT , WHICH BROUGHT A BREATH OF FRESH AIR INTO THE HOA . ( YOU AND YOUR EGO WERE GETTING TO BIG FOR YOUR BOOTS
Businesses want a highly functional trade department not more salaries and grants to cronies
I hope each application will be very carefully vetted so we don’t end up with another fisherman /farmer theifing of public money.
Create jobs? When a director in a local trust company said she gave him the go ahead to get rid of over 15+ workers?! Labour better take a look at this and FSC as well to determine how can a company with a portfolio that size can manage it with so little staff. Over 50k of tax per month will be now be lost as they are outsourcing the work for BVI Companies.
Let’s see who corner Lorna in.
Clock is ticking.
50 jobs will go elsewhere. What about the leading trust company, dont know the numbers, 10 staff here and 350 in Asia?
NBB is total BS. It will NOT solve the problem that ails small businesses in the BVI. Education, policies, systems and enforcement is the key. Since Irma and Covid not a single piece of legislation, policy, or system has been passed or put in place to protect businesses from God created natural disasters. Since those two disasters, clearly visual bankrupted businesses are barely holding on for dear life praying that the intelligence bulb will go on with employees and they will find other jobs that CAN pay them, while the employees hold on for the scraps of severance pay that can NEVER, WILL NEVER be paid but where they feel they are entitled to being paid severance even when they can clearly see the business is in free fall and will never be able to make the money to pay it.
This NBB continues to give our people false hope, glamorizing doing business in an way that has no foundation in reality or sustainability.