Artistes, promoters and practitioners in the creative sector have been given the assurance that they can benefit from funding available under the Trust Loan Fund.
Minister of Small Business, Entrepreneurship and Commerce, Dwight Sutherland, disclosed this on Wednesday night, during the launch of the Yello International Bashment Soca Monarch Competition & Beach Party 2019 at Régne Lounge, upstairs KFC Warrens, St. Michael.
“My ministry, through the Trust Loan Fund, will continue to make funding available of up to $5,000.00 to national artistes and promoters in preparation for their shows; [to] stall-owners and other entrepreneurs so as to purchase their goods and services to attract greater amounts of business as they seek to catapult their service offerings to both the national and international stage,” Mr. Sutherland said, to a resounding round of applause.
He continued: “It is in this regard that I readily recognize that accessing this loan facility has not been as fast-paced as envisaged, but I also assure you that every effort will be made to ensure that going forward, successful applicants will be treated in a more timely and expeditious manner.”
The Small Business Minister urged the audience, which comprised several Bashment Soca artistes, to take their business” seriously. He pointed out that the global entertainment industry and media market was anticipated to grow to approximately US$2.2 trillion by 2021.
“It is therefore important that the creative sector understands and takes the “business of business” seriously, in order to position itself to seize the many opportunities that are at our grasp when by practice and desire we demonstrate that risk-aversion is not a trait that we will accede to anymore.
“In this era of extraordinary change and globalization, it must be recognized that creativity and innovation are now driving the new global economy. Economic regions and even organizations like the Yello Media Group and 4D Entertainment Inc. that embrace creativity, have therefore positioned themselves to generate significantly higher levels of revenue as well as to provide greater stability into the future,” he stated.
Mr. Sutherland lauded Yello Media Group and 4D Entertainment Inc. for continuing to stage the International Bashment Soca Monarch Competition. He also wished the participating artistes success, and encouraged them to “pay intimate focus to the business of business”.
Representative for 4D Entertainment Inc., Michelle Straughn, said that this year’s International Bashment Soca Monarch Competition will climax with a beach party.
The event, which will be held on Saturday, July 6, at Pirates Cove, is open to artistes anywhere in the world singing Bashment Soca, or a 50 per cent Bashment Soca fusion.
For the first time, the competition will move away from a “winner takes all” prize strategy. The winner will receive BDS$60,000, while those placing second and third will receive BDS$15,000 and BDS$5,000, respectively. The remaining nine finalists will also receive an appearance fee.