Small and Medium Enterprises (SME) are the backbone of economies across the Caribbean, Africa, and beyond, but access to finance and export opportunities remains a challenge.
Mindful of this constraint, Republic Bank and the Caribbean Export Development Agency (Caribbean Export), with co-funding from the European Union via the 3rd Regional Private Sector Development Programme, have embarked on a collaborative capacity-building initiative to position small businesses for expanded success. The Republic Bank–Caribbean Export “Thrive: Unlocking Finance and Export Potential for SMEs” programme, a virtual finance and export development training initiative, will commence in April 2025 to benefit 500 SMEs.
The Republic Bank–Caribbean Export programme, Thrive, will provide 500 small businesses across Anguilla, Barbados, the British Virgin Islands, the Cayman Islands, Dominica, Ghana, Grenada, Guyana, St Kitts and Nevis, St Lucia, St Maarten, St Vincent and The Grenadines, Suriname, and Trinidad and Tobago with access to relevant and dynamic expert training designed to help them scale, innovate, and compete globally. Through online learning, live group sessions, and invaluable networking opportunities, the programme focuses on building resilience, improving financial literacy, and unlocking new market potential — key ingredients for sustainable business growth.
The programme will be implemented in 2 phases. In the first phase, Business Capacity Building 1.0, up to 500 entrepreneurs will receive expert training to enhance their financial and export readiness. From this group, the top 50 participants will advance to the second phase — Access 2 Finance Accelerator — a fully funded, 6-month intensive training programme. While the value of Phase One training is US$156 per participant, a nominal commitment fee of US$60 will be charged. This fee will be fully refunded upon successful completion of Business Capacity Building 1.0.
The Republic Bank–Caribbean Export Thrive programme aligns with the bank’s Power to Make A Difference corporate social responsibility programme given its aim to bolster entrepreneurship and accelerate the development of communities and countries.
“We recognise the incredible potential of SMEs and the barriers they face in accessing finance and expanding into new markets. Through this initiative, we are committed to bridging that gap, providing the knowledge and resources necessary for businesses to not just survive, but thrive,” said Nigel Baptiste, Group President and Chief Executive Officer of Republic Financial Holdings Limited (RFHL). He continued, “Beyond business success, it aligns with global goals for sustainable economic development, particularly SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities). By equipping SMEs with the tools to adopt innovative and sustainable practices, this programme will drive inclusive growth across all markets from which participants are drawn.”
Dr Damie Sinanan, Executive Director of Caribbean Export, emphasised the programme’s role in strengthening business competitiveness. “It is an immense pleasure to partner with Republic Bank, one of the most successful indigenous financial institutions in the Caribbean, to empower small and medium enterprises across the region. Through Thrive, we are not just offering training — we are equipping businesses with the financial acumen, market intelligence, and strategic networks needed to scale and succeed. By addressing key barriers to growth, this initiative strengthens our region’s private sector and positions Caribbean entrepreneurs to take full advantage of international trade opportunities. This collaboration is a significant step toward driving sustainable economic transformation across the Caribbean and beyond.”
By investing in SMEs, this initiative is creating a ripple effect where stronger businesses lead to stronger communities and economies. With the right support, these enterprises can fuel innovation, create jobs, and position themselves as key players in the regional and global marketplace.
Republic Bank
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