BIDC

THE BARBADOS INVESTMENT AND DEVELOPMENT CORPORATION overseasmarkets. Specifically,the BIDCsupports individuals and enter- prises in: n Developingbusinessplansandfinancial projections n Developingacorporate identity n Sourcing finance n Achieving international standardscertificationand compliance n Penetrating local andforeignnichemarkets n Marketingfor export n Certifyingtheoriginof goods for export n AccessingbenefitsunderFiscal IncentivesLegislation n Acquiringoperatingspaceona rentor lease/pur- chasebasis n Accessingproductdesignadvisoryand innovative solutions n Accessingthe latestmarket andbusiness intelligence n Training and skills development The BIDCalso offers a Special Technical Assistance Programme,whichmakes grant financing available to enhance the international competitiveness of local manufacturers,service providers,and small businesses. “It is not just about providing technical assistance, but the nuts and bolts of starting a business,howyou growa business,and howyou trade internationallyas a result ,”explains SonjaTrotman,the agency’s CEO since 2015.“We are also involved in the rental of operating spaces for companies looking to establish business- es in Barbados.Anybusiness operation in Barbados looking for a location inwhich to operate,BIDCwill consider their application.” The BIDChas about 80 staff members whowork in specialized departments.These include Business Support Services,comprised of the Research,Design, StrategicPlanning,and Corporate Communications Units; and“a de- partment that looks after the Real Es- tate aspects,such as themaintenance and rental of property,”saysTrotman. “That unit reports to the Director who is also responsible for the Finances of the organization.Andwe have a department responsible for Business Development and Export,which interactsmorewith our clients and is responsible for assisting them to growand develop.”Approximately60 percent of BIDC’s funding comes from the government,with 40 percent generated from the rental of operat- ing spaces within one of the agency’s dozen industrial estates. Trotman says that in addition to Trotman says that in addition to promoting its programs to local individuals and com- panies through social media, newspaper and radio ads, and public events in commu- nities, schools, and church- es, it also collaborates with other governmental and non-governmental agencies and organizations, especial- ly those that reach out to students and others who are training for careers.