by Linda Straker
- 70 start-ups facilitated under GIDC Business Development Centre’s general programme
- 125 young entrepreneurs received grant financing under Climate Smart Agriculture Rural Enterprise Programme
- New start-ups in priority sectors of agribusiness, services, tourism and manufacturing
Last year, 70 start-ups were facilitated under the Grenada Investment Development Corporation (GIDC) Business Development Centre’s general programme. However, 34 out of Micro, Small and Medium Enterprises (MSMEs) received business development services in prior years.
Chairman of the GIDC Rodney George said that concerning MSME development, GIDC recorded increases in applications for entrepreneurial and business development services and continued to attract and sustain the confidence to effectively implement projects that support MSME development, from the international donor community. “Grant financing was disbursed to 125 young entrepreneurs under the Enterprise Business Development component of the Climate Smart Agriculture Rural Enterprise Programme,” George said in the corporation’s 2023 annual report that is scheduled to be tabled in the 26 November parliament session.
Two hundred and fifty-four started under the development component surpassing the target of 120.
George said that GIDC continued its partnership with the US Embassy and implemented the Academy for Women Entrepreneurs Programme focussed on enhancing the capacity of women entrepreneurs to operate their businesses effectively and to facilitate sustainability. “Partnerships were also established with the Caribbean Export Development Agency under its Virtual Ecommerce Accelerator Programme (VAEP), the OECS-CBU and the German Sparkassenstiftung for International Cooperation.”
The annual report said that economic activities on the island continued to be manifested from GIDC’s record of over 100% increase — from 70 compared to its 35 baseline in 2022 — in new start-ups in the priority sectors of agribusiness, services, tourism and manufacturing.
Embedded in the centre’s goals was spotlighting Carriacou. “Another value-added achievement was the launch of “Accelerate Carriacou” to create awareness of entrepreneurship in the sister isles,” said the report which assured that the outlook for 2024–2025 is promising as GIDC continues to implement its strategic objectives.
