Business View Caribbean - January 2016 21
Minister reported, noting that promoting micro,
small and medium-sized enterprises will remain an
important element. He added that, when coupled
together, these businesses play a vital role in creat-
ing employment and generating a steady income
for employers and employees.
“Over the medium term, my government, there-
fore, will focus its attention on facilitating entrepre-
neurship and development of small businesses. In
particular, emphasis will be placed on areas such as
manufacturing and services,” Harris outlined.
The Fresh Start program was listed as an example
of the government’s commitment. Fresh Start has
offered concessionary loans to individuals to pursue
business ventures. Funding of US$5 million was
provided by the government of Venezuela for the
program, which is being administered through the
Development Bank of St. Kitts and Nevis.
Some 200 persons have already benefitted from the
initiative operating in the fields of tourism, law, pub-
lic transportation, fisheries, agriculture, retail, and
wholesale. “This initiative of the Team Unity gov-
ernment is positively impacting persons who may
otherwise be marginalized in terms of their ability
to secure the necessary capital from the commer-
cial banking system,” Harris said.
With reports that the program has been oversub-
scribed, the St. Kitts and Nevis leader said, “We are
negotiating a further support from the government
of Venezuela to meet the overwhelming response
of our young people to our Fresh Start program.”
Locals and aspiring entrepreneurs can also look for-
ward to the full implementation of the Small Busi-
ness Development Act (2009), which was designed
to support small businesses and entrepreneurial
development. A recent review resulted in draft
regulations being formulated and submitted to the
Ministry of International Trade, Industry and Com-
merce and the Attorney General’s Chambers. It is
expected that the document will soon be submitted
to the Cabinet for approval and operationalization.
