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Access to capital, small population challenging to business – Louis Potter

- Hon Marlon A. Penn called for continued business innovation & for the monies to stop going to overseas companies
First Bank was among the exhibitors at the Trade Expo. Photo: VINO
Executives and members of the BVI Chamber of Commerce and Hotel Association (BVICCHA) take a photo op at the CCT Buy BVI Trade Expo on Saturday April 16, 2016. Photo: VINO
Executives and members of the BVI Chamber of Commerce and Hotel Association (BVICCHA) take a photo op at the CCT Buy BVI Trade Expo on Saturday April 16, 2016. Photo: VINO
The H. Lavity Stoutt Community College also had a booth. Photo: VINO
The H. Lavity Stoutt Community College also had a booth. Photo: VINO
The Adagio Dance Group also had a display. Photo: VINO
The Adagio Dance Group also had a display. Photo: VINO
Some of the persons witnessing the opening ceremony. Photo: VINO
Some of the persons witnessing the opening ceremony. Photo: VINO
CCT's CEO Averad R. Penn poses for the camera at the expo. Photo: VINO
CCT's CEO Averad R. Penn poses for the camera at the expo. Photo: VINO
The CCT Buy BVI Trade Show wrapped up on Sunday April 17, 2016. Photo: VINO
The CCT Buy BVI Trade Show wrapped up on Sunday April 17, 2016. Photo: VINO
ROAD TOWN, Tortola, VI – Chairman of the BVI Chamber of Commerce and Hotel Association (BVICCHA) Louis Potter said businesses in the territory face a number of challenges from access to capital to small population size, technical skills and support services as well as the lengthy process and wait times.

He was speaking at the opening ceremony of the CCT Buy BVI Trade Expo on April 16, 2016 at the Multi-Purpose Sports Complex in Road Town. The two day expo ended on Sunday April 17, 2016.

“As Chairman of the BVICCHA, our commitment to the members is to facilitate and provide solutions to these challenges. We do this through our various training workshops, grants, marketing initiatives, regional and international partnerships and we are working diligently to better serve and equip our members to redefine business as usual,” he said.

According to Potter, the aim is to have businesses repositioned to compete locally, regionally and globally. Potter encouraged the public to continue to support the local businesses even as the Association does what it can to make the environment more business-friendly.

Expo increases businesses' competitive edge

Standing in for Premier Dr The Honourable D. Orlando Smith, Junior Minister for Trade and Investment Honourable Marlon A. Penn reiterated Government's support for the business sector.

He said he was pleased to note that this trade show is about the only event that brings local merchants together in one location and promotes their products and services to the local community.

“It also helps to promote small businesses and give them a competitive edge in the market.”

Hon Penn commended the organisers for diversifying the business expo with various sessions for the benefit of the participants.

Noting that pioneering businesses are the key to the expansion of the economy, he said, “Our Government will continue to focus heavily on trade and investment promotion as we seek to expand the economy of the BVI through local investment.

He said the Department of Trade and Investment Promotion has been hard at work providing support and training to local businesses.

“My Government clearly understands that the private sector contributes directly to economic stability by creating jobs and circulating wealth throughout the economy to name a few,” he said.

Further, he said Government will be seeking to launch its consumer protection platform for which he as Junior Minister for Trade and Investment Promotion will oversee.

According to Honourable Penn, it is an exciting time for small businesses as there are so many organisations to offer support. He said that the money stays within the territory. “The money that we spending overseas has to stop,” he said.

Some of the local companies that took part in the expo were Digicel BVI, CCT, 3P, 5 Girls Value Centre, Body Glam, First Bank, Banco Popular, Akila Brewley Designs, Rotary, Toastmasters, Smith & Associates, Kusala LLC and Party World BVI among many others.

6 Responses to “Access to capital, small population challenging to business – Louis Potter”

  • Yes (18/04/2016, 10:28) Like (2) Dislike (0) Reply
    did not even know about this event
  • lmao (18/04/2016, 11:22) Like (2) Dislike (0) Reply
    He called for the money to stop going overseas when that's where locals get 99% of their products to mark up then sell to us. Boss man do some proper business research and get with the program. With the advent of technology businesses need to get with the program or get left behind.
  • B Anonymous (18/04/2016, 12:47) Like (1) Dislike (0) Reply
    Yea cause alot of so called business people don't like to pay back loans...ON TIME. So banks are like frig financing you better DOPE your capital.
  • hear me crosses (18/04/2016, 13:26) Like (1) Dislike (0) Reply
    so we must shop here while they shop overseas?
  • rasta (18/04/2016, 13:42) Like (0) Dislike (0) Reply
    Ayo only making babylon stronger
  • No Vision (18/04/2016, 19:05) Like (3) Dislike (0) Reply
    Too much square pegs in round holes... Favouritism, greed, poor PR. ..thats all recipes for failure.. A few businesses have it right. Most do not.


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