September 16, 2008
PRESS RELEASE


GIDC & DHR Hold National Consultation to discuss draft  National Policy on Small Business Development - September 25 & 26

Mindful of the urgent need to re-position the economy and to cushion lower income families and communities against the impact of trade liberalization and the challenges of globalization, Government is fervently exploring novel approaches to maximize employment and wealth creation for more nationals. 

One of the important but under-rated pillars of the economy is the small business sector, comprising micro, small and medium-sized enterprises (MSMEs), and which is estimated to account for at least 50% of the employment in the three-island State, whose labour force is estimated at 40,000 persons, 80% of whom are employed in the Private Sector.

Recognising the non-existence of both a coherent policy and a body of legislation specific to this vital component of the business sector, Government is desirous of implementing an imaginative and stakeholder-driven Small Business Policy as a matter of urgency’.  

The purpose of the Grenada Small Business Development Policy is to stimulate the sustainable development, growth and expansion of viable micro, small and medium-scale enterprises and to create appropriate conditions for the entrepreneurial spirit and culture to flourish in urban, sub-urban and non-urban communities throughout Grenada with the ultimate goal of generating wealth and an improved quality of life for more families and to increase better-business skills, competencies and competitiveness in the workforce on the island. 

While the primary beneficiaries of this policy will include:

• unregistered individual entrepreneurs operating within the informal sector
• sole proprietorships established in accordance with the Companies Act
• partnerships
•  joint stock companies
• registered co-operatives
• foundations, associations and other intermediaries serving small businesses, and the private sector.

The organizers of the consultations are inviting all interested persons to come and be a part of these very informative and enlightening sessions, expected to be pivotal to economic development of Grenada, Carriacou and Petit Martinique.

The consultations will be held in three (3) locations:

1. Thursday, September 25 (9am) - The Grenada National Stadium
2. Thursday, September 25 (5pm) -   Bain’s Hall, Grenville
3. Friday,September 26 (10am) -       The Resource Center, Carriacou

The chief presenter will be Mr. Melvin Edwards, renowned Caribbean Small Business Development Specialist

Copies of the draft policy may be obtained by visiting the Department of Public Administration’s website: www..grenadagovhr.org/ or by contacting the Small Business Development Centre of the GIDC at Frequente Industrial Park 444-1035/40 or the GIDC website: www. grenadaidc.com; the GCIC (Tel: 440-4485) or by calling 440 3767 ext. 5018.

 For Further Information

Contact:Jude Bernard         Tel. 444 1192            Mobile 415 1146