FREEPORT, Grand Bahama, The Bahamas – The government recognizes the important role played by small businesses in the growth of an economy, said Minister of Economic Affairs Senator the Hon. Michael Halkitis during the opening of the first 'Emerge Grand Bahama Small Business Symposium' -- adding that the government is seeking ways to support the creation and growth of businesses by providing not only capital, also technical assistance and advice.

The event, which covered three floors of the Pelican Bay Resort, featured several local businesses that used the opportunity to have their products on display for the two-day event under the theme, “Embracing New Frontiers”.

As the Minister who has responsibility for small business development, he said November has been declared National Micro, Small and Medium-Sized Enterprise Month, with several events highlighting their services.

“This month” he said, “we brought particular focus to the ingenuity, talent and the vision of local entrepreneurs." It was a pleasure to partner with the Grand Bahama Port Authority, the Small Business Development Center, the Grand Bahama Chamber of Commerce and Bahamas Development Bank, he said.

“It is through partnerships, particularly partnerships that reach across the public and private sectors, that we can bring our collective resources – intellectual as well as financial resources -- to bear as we seek ways to promote and to support the development of the small business sector that contributes so much to the economy collectively.

“The government is a very willing partner in these sorts of collaborations because we recognize the important role that small businesses play in overall economic health of the country and the critical importance of hearing the voices of those in the trenches and on the front lines of either starting a business, operating a business and seeking to grow a business, and all the challenges that that entails.”

He added that through their agencies, such as the Small Business Development Center, the Bahamas Development Bank, the Venture Capital Fund, BAIC and BAMSI, the government is seeking ways to support the creation and growth of businesses by providing not only capital but technical assistance and advice.

It is hoped that suggestions from the symposium’s participants will enable the government to assist businesses more.

The government must also ensure there is a stable and predictable environment in the country, because as the economy grows so do business and employment opportunities.

Stressing the importance of government’s support of small businesses, the Minister noted that in the upcoming debate on the government’s Public Procurement Bill, “there will be a level of preference of Public Procurement that will allow Micro, Small and Medium-Sized Enterprises, women-owned businesses, and Family Island-owned businesses to receive preferential treatment in government procurement.

“And that is to give businesses a better opportunity to succeed in bidding for those contracts.”

Also giving brief remarks were President of the Grand Bahama Port Authority Ian Rolle, President of the Grand Bahama Chamber of Commerce James Carey, Branch Manager of Bahamas Development Bank Brent Deveaux, and Interim Executive Director of Access Accelerator/SBDC Samantha Rolle, all representatives of the major sponsors of the two-day event.