Republic Bank, Caribbean Export partner on SME development

Republic Bank and the Caribbean Export Development Agency (Caribbean Export) have teamed up to provide 500 small businesses in the region with expert training.

In a release on March 13, Republic Bank said the programme – Thrive: Unlocking Finance and Export Potential for SMEs – will help businesses scale, innovate and become globally competitive.

The training will be done virtually, commencing in April. It will cover businesses in Anguilla, Barbados, the British Virgin Islands, the Cayman Islands, Dominica, Ghana, Guyana, St Kitts and Nevis, St Lucia, St Maarten, St Vincent and the Grenadines, Suriname and TT.

"The programme will be implemented in two phases. The first phase will entail training focused on enhancing financial and export readiness.

"From the group of 500 businesses the top 50 will move on to the second phase – access to finance accelerator – a fully-funded, six-month intensive programme," the release said.

Republic Bank said participants will be required to pay a nominal commitment fee of US$60, but the programme is worth US$156.

Nigel Baptiste, group president of Republic Financial Holdings Ltd, said the initiative bridges the gap between SMEs and foreign markets.

"Beyond business success, it aligns with global goals for sustainable economic development, particularly SDG8 (decent work and economic growth) and SDG 10 (reduced inequalities)."

Dr Damie Sinanan, executive director of Caribbean Export encouraged entrepreneurs to take full advantage of the programme.

"Through Thrive, we are not just offering training – we are equipping businesses with the financial acumen, market intelligence and strategic networks needed to scale and succeed."