Small and Medium Enterprises (SMEs) in Saint Lucia and across the Caribbean are set to benefit from an initiative aimed at improving access to finance and unlocking their export potential.
Republic Bank and the Caribbean Export Development Agency (Caribbean Export), with support from the European Union, have launched Thrive: Unlocking Finance and Export Potential for SMEs, a virtual finance and export training programme designed to position small businesses for success.
The programme, which begins in April, will provide expert training to 500 SMEs across 14 countries, including Saint Lucia. Through online courses, live group sessions, and networking opportunities, participating businesses will receive insights into financial literacy, business resilience, and market expansion.
The initiative will be rolled out in two phases. In the first stage, called Business Capacity Building 1.0, up to 500 entrepreneurs will receive fundamental training on financial and export readiness. From this cohort, the top 50 participants will advance to the second phase—Access 2 Finance Accelerator—a six-month intensive training programme.
While the first phase training is valued at US$156 per participant, entrepreneurs will only be required to pay a fee of US$60, which will be fully refunded upon successful completion of that phase.
Republic Bank said Thrive aligns with the bank’s Power to Make A Difference corporate social responsibility programme, which aims to bolster entrepreneurship and accelerate the development of communities and countries.
Group President and CEO of Republic Financial Holdings Limited, Nigel Baptiste highlighted the importance of the initiative, stating, “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.
Similarly, Executive Director of Caribbean Export, Dr Damie Sinanan pointed out the long-term benefits of the programme.
“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,” he said.
Baptiste noted that the Thrive programme aligns with global economic development goals, 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, he said, the programme will drive inclusive growth across all markets from which participants are drawn.
