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The Ministry of Energy and Business is embarking on a major initiative to help small businesses access equity financing.
It is the revolutionary Innovation Growth Market (IGM) 200 project, which was launched today.
IGM200 is a national initiative led by the Ministry of Energy and Business, the Barbados Stock Exchange, and the Small Business Association to empower 200 small and medium enterprises through access to equity financing.
Minister of Energy and Business Lisa Cummins says for the IGM to succeed in a meaningful way, financial institutions and agencies must step forward together. She also shared her intention to create a national Micro, Small, and Medium Enterprises Financing Partnership.
The Caribbean Development Bank is providing a US $350,000 technical assistance grant to help build the capacity of 50 firms, with the goal that at least twenty of these businesses will become investor-ready and list on the IGM.
President of the CDB, Daniel Best, says this is a significant investment to help small businesses.
