Tech company receives over $100,000 in investments

Tech company receives over $100,000 in investments
NASSAU, BAHAMAS – A boutique IT service provider has received $112,500 in investment loans from the Royal Bank of Canada (RBC) through the Access Accelerator, Small Business Development Centre (SBDC).
Alvernia Business Consulting (ABC Bahamas Ltd) specializes in technical support, procurement and implementations for Small and Medium-sized Enterprises (SME).
James Woodside started ABC Bahamas in 2003 after completing his Computer Repair Program at the Bahamas Technical and Vocational Institute (BTVI). After graduation, he traveled to Cat Island to assist his grandparents. However, he said the move kicked off the start of his own business.
Woodside said: “My grand-aunt took me straight from the airport to the District Superintendent’s office for education and he was ecstatic to have a young person on the island who could help them repair and maintain the local school labs.
“Through their encouragement and support, I was able to build my experience and earn some income. Because of their support, other businesses and individuals on Cat Island, they inspired me to name the company after Mt. Alvernia, a local Bahamian landmark.”
From 2003 to 2013, Woodside worked with many local businesses and traveled abroad to complete technical training and earn certifications. In 2013, Alvernia Business Consulting became incorporated. From the feedback from past clients, Woodside developed his business to meet the present and anticipate the future needs of local Bahamian businesses.
After seeing an ad on Facebook, ABC Bahamas reached out to Access Accelerator to further expand the company’s services. To better provide key technology for SMEs, the tech company needs to build its own infrastructure to implement the technology. With the funds accessed through the organization, ABC Bahamas expects to bring the new products to market.
“Receiving funding feels awesome,” said Woodside.
“I’m grateful to have completed the process and see that the SBDC and RBC believe that we can assist our nation with its technological endeavours.”
Currently, the company provides: network designs and implementations, virtualization, private clouds, offsite backups, new office setups, office migrations, custom application deployments, software upgrades, computer lab repairs, point to point and point to multi-point wireless, IP surveillance, IP Telephony deployments, structured cabling, electronic document management, security assessments and business continuity planning.
Woodside underscored the difficulty service-based companies face in accessing capital as most banks require 100 percent equity financing for business loans.
He said ABC Bahamas believes in creating mutually beneficial relationships with their clients to ensure they both thrive.
“We want to ensure that both, the client and our company, continue to grow sustainably,” he said.
“The symbiotic approach is working, and we have already seen how this approach is helping our clients expand into new areas.”