The Labour Party Government remains confident that small business development is a way forward for poverty reduction and economic growth.
According to the Hon. Finance Minister Roosevelt Skerrit, small and medium-sized enterprises form the core of the private sector in Dominica and contribute to overall economic development.
This is why, in his 2015/2016 National Budget address, he revealed further investments in small and medium-sized businesses.
He stated, “Government will continue to pay close attention to the needs of this segment of the private sector, and has allocated during this fiscal year, an amount of $3.4 million, to provide for small business enterprise development, and the development of rural Business Enterprise Centres. The intention is to build more sustainable businesses particularly in the rural areas.”
Also in enterprise development, the Hon. Finance Minister added that the anticipated ICT Centre for Excellence, housed on the grounds of the Dominica State College, has been allocated an additional $500,000.
Government expects that the new centre will encourage and prepare business owners to take advantage of the opportunities that ICT can offer for employment and business efficiency.
Meanwhile the island is working behind the scenes as one of five countries to pilot a Small Business Development Centre model developed by the University of Texas at San Antonio.
These steps complement several others taken by Government to give small business owners their best chance to contribute to national development.