stluciatimes, caribbean, caribbeannews, stlucia, saintlucia, stlucianews, saintlucianews, stluciatimesnews, saintluciatimes, stlucianewsonline, saintlucianewsonline, st lucia news online, stlucia news online, loop news, loopnewsbarbados

spot_img

CDB Providing Training Support For Regional Entrepreneurs

spot_img

The Caribbean Development Bank (CDB) recently trained 174 persons directly engaged with Micro, Small and Medium-sized Enterprises, (MSMEs) across the region, to assist with much-needed capacity development within the sector.

Through the Caribbean Technological Consultancy Services (CTCS), the Bank’s flagship MSME capacity building programme, the skills of business development officers and business development specialists from 18 Borrowing Member Countries (BMCs) were strengthened in Business Continuity Planning, Digital and Social Media Marketing, Financial Literacy and Management.

Mr Michel Thomas Senior Operations Officer at the Bank cited the value of the intervention, “These workshops are part of a larger drive being pursued by CDB, in partnership with the private sector to create a more robust ecosystem for businesses. We have heard and responded to the requests from MSMEs for support to address their management and operational challenges following the pandemic; and through this effort we hope to strengthen business management, digitisation and the resilience of MSMEs in our BMCs.”

Ms Lisa Harding, Acting Head Private Sector Division, CDB, indicated that the training initiative advances the implementation of the Bank’s Private Sector Strategy which recognises the significant role MSMEs play in Caribbean economies.

According to Ms Harding, “This intervention contributes to regional private sector development, including MSMEs, as it aims to strengthen the operational capacity, increase access to finance and enhance the competitiveness of these enterprises.”

MSMEs are integral to Caribbean socio-economic development, as they account for a substantial share of Gross Domestic Product (GDP) and the workforce.

A CDB commissioned study estimates that MSMEs constitute between 70% and 85% of enterprises, contribute between 60% and 70% of GDP and account for approximately 50% of employment, including those from marginalised groups such as women, youth, indigenous communities and persons with disabilities.

In addition, almost 40% of small businesses in the Caribbean are owned by women, with up to 60% ownership in some countries.

SOURCE: Caribbean Development Bank

Any third-party or user posts, comments, replies, and third-party entries published on the St. Lucia Times website (https://stluciatimes.com) in no way convey the thoughts, sentiments or intents of St. Lucia Times, the author of any said article or post, the website, or the business. St. Lucia Times is not responsible or liable for, and does not endorse, any comments or replies posted by users and third parties, and especially the content therein and whether it is accurate. St. Lucia Times reserves the right to remove, screen, edit, or reinstate content posted by third parties on this website or any other online platform owned by St. Lucia Times (this includes the said user posts, comments, replies, and third-party entries) at our sole discretion for any reason or no reason, and without notice to you, or any user. For example, we may remove a comment or reply if we believe it violates any part of the St. Lucia Criminal Code, particularly section 313 which pertains to the offence of Libel. Except as required by law, we have no obligation to retain or provide you with copies of any content you as a user may post, or any other post or reply made by any third-party on this website or any other online platform owned by St. Lucia Times. All third-parties and users agree that this is a public forum, and we do not guarantee any confidentiality with respect to any content you as a user may post, or any other post or reply made by any third-party on this website. Any posts made and information disclosed by you is at your own risk.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

TRENDING

Subscribe to our St. Lucia Times Newsletter

Get our headlines emailed to you every day.

Share via
Send this to a friend