August 29, 2018 (Nassau, Bahamas) - The Small Business Development Centre is pleased to announce that Geoffrey Andrews has been appointed Chairperson of the SBDC Board of Directors. Together with the newly appointed Deputy Chairperson Dr. Olivia Saunders, Mr. Andrews leads a baker’s dozen of strategically chosen board members whose reach, expertise and vision will help the SBDC fulfil its critical mandate of supporting the growth and evolution of Micro, Small and Medium-sized Enterprises (“MSMEs”) in The Bahamas.

The SBDC is the product of a tri-partite arrangement between the Government, through the Ministry of Finance, University of The Bahamas (UB) and the Bahamas Chamber of Commerce and Employer’s Confederation (BCCEC). The Centre will work to guide the development and funding of MSMEs throughout the country.

The new chair shared his excitement at the appointment.

“I was honoured and very excited to be nominated to Chair the Board of the SBDC, which I strongly believe has the ability to change the economic model being followed here in The Bahamas. While I am fully appreciative of all of the major foreign direct investments which have helped the country grow over the years, we think that the SBDC presents a unique opportunity for micro, small and medium sized businesses to become the new drivers of the Bahamian economy, and I encourage existing and potential entrepreneurs to take full advantage of the opportunities presented by the creation of the SBDC,” said Mr. Andrews.

“At the same time, the SBDC will allow local financial institutions more opportunities to tap into this market, enabling these institutions to increase profits while helping to improve the economy,” he added.
Deputy Chair Saunders spoke to the potential the Centre holds for the sector, and the country at large.

“The SBDC is expected to provide significant and material support to MSMEs. As it fulfills its mission, it has the potential of being a catalyst for changing the economic landscape of the country with the growth and strengthening of indigenous business enterprises. It is a privilege and an honour to serve on the board of SBDC as an active participant in this extremely important work,” said Dr. Saunders.
Executive Director of the SBDC Ms. Davinia L. Blair hailed the board appointments.

“Our new board will establish critical corporate governance and oversee organizational strategies, capital investments and financial accountability, among other things,” Ms. Blair said. “Most importantly, this board will drive policy creation for the MSME sector throughout The Bahamas for generations to come.”

Deputy Prime Minister and Minister of Finance the Hon. K. Peter Turnquest said, “We are incredibly lucky to have board members with such a broad range of expertise including strategy, finance, legal, marketing, ICT (information and communication technology) and other specialized industry-related skills.”

“These skill sets are highly coveted on any board, and we are pleased to have them as part of our SBDC family. Plus, our directors expose us to new business contacts and networks,” the Deputy Prime Minister added.

Together with Chairman Andrews and Deputy Chair Saunders, the board members are Merrit Storr, Ellison Delva, Clifford Johnson, Hank Ferguson, Tyrina Neely, Gina McKenzie, Remelda Moxey, Kristie Powell, Christopher Sawyer and Pedro Rolle.

The government of The Bahamas has created an MSME Policy to provide a framework for development of the sector. The “Seven Pillars of MSME Sector Policy” call for improvement in the enabling business environment for small business; increasing direct financing to the MSME sector; enhancing both business and development support for MSMEs through innovative programmes; supporting entrepreneurship and MSME development within marginalized groups; fostering a culture of entrepreneurship and innovation; removing or minimizing political interference within MSME enabling agencies, and promoting linkages between Bahamian MSMEs and the international export segments of the economy.