Smith and his team have begun to lay the foundation in bringing back to life the SBB. Photo: VINO

The SBB is geared towards assisting small businesses in terms of business start-up, technical expertise, training and counselling, business plan writing, and market and technology research. Photo: VINO

Speaking to Virgin Islands News Online yesterday January 4, 2012, Smith said the SBB is no “wishy washy” initiative of Government and pledged that the Trade Department, under which the SBB falls, will aggressively work to resuscitate the programme that was dormant for the past four years.

“The Government made this one of their top priorities on the campaign trail, and we are excited to get it off the ground. This Government is keen on seeing Virgin Islanders who have the means, dreams and aspirations to become entrepreneurs,” Smith stated. "And we believe that small businesses will boost the Territory's economy."

As the first step to ensure its efficacy, Smith has already met with the management team and several officers to assess the Department’s functions on how to reform their programmes. However, because of the holiday season, some of the staff was on vacation but as soon as the full complement of staff is on the job - a comprehensive meeting will be held.

In the meantime, since taking up the position on December 5, 2011, Smith and his staff have visited several small businesses to ascertain what their challenges are and while several were outlined, the most common one was inability to access capital from banking institutions.

However, Smith told this news agency that by the end of the month there will be “discussions with banking officials in an effort to pave the way forward”.

He also promised as soon as the programme is off the ground, the Trade Department will keep the public informed on its progress on a regular basis.

Furthermore, the department intends to have a good relationship with the medium and small size businesses on a day to day basis.

“You will see our staff going out to businesses...sit down and find out how the respective business is progressing,” Smith revealed. “Our motto is that we believe their success is our success.”

Pleased with the zest shown by the staff for the Department’s goals, the Business Development Liaison remarked that the success of the department is not a one man party instead “it’s the whole unit from the Director to the Messenger”.

With regards to the slow process of trade licenses, Smith stated that several recommendations have already been given to Premier Dr. D. Orlando Smith.

During the December 19, 2011 House of Assembly (HOA) sitting, Premier Smith said Smith was hired for the consultancy position for a two-year period.

Apart from coordinating assistance programmes for small businesses in terms of business start-up, technical expertise, training and counselling, business plan writing, and market and technology research, the Premier divulged that the Business Development Liaison is also tasked with providing support to the Department of Trade and Consumer Affairs by assisting with the review of the trade policy and other legislative instruments related to the economic development of the Territory.

The Premier also informed the House that Smith has already begun following-up on the National Trade Policy which is designed to bring legislation on fair competition, foreign direct investments, franchising, anti-dumping and consumer protection.

“This policy will help us to address the development and operational needs of the business sectors and it will facilitate business growth,” the Premier had stated.