Thompson: SBDC taking business incubator to old Phil’s food store site

Thompson: SBDC taking business incubator to old Phil’s food store site
Minister of State for Finance Kwasi Thompson speaks during a press conference on Monday, December 21, 2020. (BIS PHOTO/ULRIC WOODSIDE)

NASSAU, BAHAMAS — The Access Accelerator Small Business Development Centre (SBDC) has found a new home in the old Phil’s food store building on Gladstone Road, according to Minister of State for Finance Kwasi Thompson.

Thompson made the announcement while appearing along with SBDC Executive Director Davinia Grant as a guest on the Bahamas At Sunrise morning show.

The SBDC is preparing to launch tech grants this coming Wednesday.  It is also launching a youth program for individuals aged 18 to 30.

Grant said: “With the youth program, we are actually going to take a group of entrepreneurs and put them in a location, give them a retail space and advise them on their business.”

Thompson noted that participants will be assisted in setting up their businesses, receive funding and be mentored throughout the process.

Regarding the tech grant, Grant noted: “It’s not just tech companies that can apply for funding; anyone [who] needs to add technology to their business, whether it is something that has to do with e-commerce or some of the processes in your business should apply.”

Thompson noted that the SBDC, which has been situated at the Gladstone Road freight terminal building since its inception, will now move to the old Phil’s food store site.

”It’s going to be at the old Phil’s food store location. It’s where the business incubation center is going to be started,” he said.

”It’s an ideal location for us to start this. We’re excited about it. It’s the ideal location for us to get started and include those young people, give them access to the internet, the latest technology as well as great mentorship to help those businesses.”

Grant added: “We’re really excited that Tin Ferl has been able to jump-start the location for us. Last Friday, scores of small businesses were right in the parking lot starting the whole movement we wanted to embody that location.”