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NASSAU, BAHAMAS – Eighty-three women entrepreneurs were awarded grant funding totaling $604,782.79 through the Access Accelerator Small Business Development Center (SBDC) Women Entrepreneur Program during a press conference held at the center on Wednesday, August 14, 2024.
Ms Ann-Marie Davies of the Prime Minister’s Office of the Spouse explained that research shows that when women participate in all areas, society as a whole benefits.
Ms. Davis said poverty rates and food insecurity fall when women are empowered to pursue stable employment, and they can oversee the overall health of their families.
SBDC Executive Director Samantha Rolle said the center will serve as a catalyst for empowering entrepreneurs across the Bahamas.
“This year, we are providing funding, training and mentoring to women entrepreneurs through several separate programs and initiatives,” said the executive director.
She noted that while funding is important, the training, mentoring and support provided by the SBDC are equally valuable in helping entrepreneurs build a solid foundation for their businesses.
“You’ll likely face setbacks during your entrepreneurial journey and may hear ‘no’ more often than you think, but tenacity is key. Every challenge you overcome strengthens your resolve and brings you one step closer to achieving your goals.”
Phyllice Bethel, deputy executive director of the SBDC, said 34 grant recipients own businesses in the Bahamas and the Family Islands.
“Specifically, 14 women on Grand Bahama will receive grants of $98,410, and 20 women on the other eight islands will receive $136,327.”
Ms. Bethel explained that as of June 30, 2024, 1,139 women-owned businesses had received $29.8 million through the SBDC.
“Since all of today’s awardees are first-time recipients, the number of women-owned businesses funded increased from 1,139 to 1,222. Additionally, the amount of funding approved for women-owned businesses jumped from $29.8 million to $30.4 million.”
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