NASSAU, BAHAMAS — The Access Accelerator Small Business Development Centre (SBDC) is looking to launch a crowdfunding platform, executives said yesterday.
During a press conference to mark the entity’s two-year anniversary, Davinia Grant, the SBDC’s executive director said: “We are going to be launching a crowdfunding platform and we will be looking at opportunities for companies to invest directly with entrepreneurs.”
According to Grant, crowdfunding has always been in the SBDC’s plan.
The entity to-date has assisted micro, small and medium-sized enterprises in The Bahamas with access to $52.7 million in funding; $15 million via the Access Accelerator programs and $37.7 million via its business continuity program.
The SBDC has facilitated loans, equity financing and stand-alone grants.
Crowdfunding involves financing a project or business venture by raising small amounts of money from a large number of people, usually friends, family and investors.
“The beauty of a crowdfunding platform is that one business may get funding from a number of different places,” Grant said.
“Right now what we have is in many cases one business may possibly get financing from a commercial bank, an in-house microloan, equity or grants.
“Right now each of our funding packages may have three or four different avenues to get funding from.
“The intent is to put that on a platform, make it more efficient with the use of technology and add partners as we grow.”