Minister of Small Business Development, Donville Inniss, has pointed to several markets that are in need of financing, as he hailed the success of the Barbados Agency for Micro Enterprise Development.
Addressing the agency’s 20
“We have found that there are some niche areas in this economy that we really need to be able to give financial assistance to including the cultural industry, the arts and craft sector, the professionals, the doctors, lawyers these are the kind of niche areas that we are very much focused on,” he stated.
The Minister noted that the agency, also known as Fund Access, has provided 2200 jobs, assisted 1800 clients and lent $56 billion dollars over the past two decades, and has also increased its loan limit to $150,000.
He assured the public of the organisation’s profitability, saying “I do not believe we will be asking tax payers anytime in the foreseeable future to put up money to be able to help Fund Access stay afloat.”
“Recently we were able, in the midst of all the economic challenges of this country, to position Fund Access in its own standalone agency, one that can earn its own way through its lending and the interest earned,” Inniss said.]]>