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Business bureau to offer loans for cruise ship pier stores

The National Business Bureau low interest loans will offer local entrepreneurs and small business owners, financial and technical assistance in renting a space at the soon to come cruise ship pier park, according to Cromwell Smith. Photo: UIG
Host of Umoja, Cromwell Smith. Photo: VINO/FILE
Host of Umoja, Cromwell Smith. Photo: VINO/FILE
ROAD TOWN, Tortola, VI – Virgin Islanders who are eligible to control and operate a business on their own and who are interested in a future investment in a store that will be located at the new Road Town Cruise ship pier in the next couple of years, would be eligible to receive help from the National Business Bureau (NBB).

This information was disclosed by Cromwell Smith, host of the local radio show Umoja, last evening July 5, 2012.

In relation to the completion of the extension and transformation of Tortola’s cruise ship pier, he stated that 25 lot spaces would be made available to local entrepreneurs and small business owners.

According to Mr. Smith, the spaces reserved for the locals will be 500 square feet and will cost $1200 -$1500 to rent per month.

“Local businesses who do not have the initial capital and needs to develop the necessary inventory needed to operate, are eligible to receive financial assistance from the National Business Bureau.”

Mr. Smith added that not only will the eligible local businesses that are qualified to claim a space in the port development receive financial assistance from the NBB, but they will receive technical support as well, where they will be assisted in developing business cards and putting together small proposals.

The expansion of the cruise ship pier project that is supervised by the Tortola Ports Partners LTD will cost around $75 million.

The expansion of the pier is expected to be completed by December 2012 while further development of the land side and improvements to Road Town will be pursued over the next three years. A part of the development will include the proposed Tortola Pier Park which will include a village type of setting with boutiques, arts and crafts, and waterfront entertainment.

19 Responses to “Business bureau to offer loans for cruise ship pier stores”

  • Protest (06/07/2012, 08:48) Like (0) Dislike (0) Reply
    If Cromwell was a real african he would know how those foreign companies came into africa and ruined it for the locals. Noel Llyod protested because he saw what they did out of africa. Why are these foreigners interested in us? It couldn't be that they so care about us. They have a long term hidden motive, why bawl then when it goes awry when we can stop it now. Never let them get a foot in the door because we going to suffer. Alot of people are turning to the caribbean because we have no protection for the locals and they realise we are really stupid. These politians selling out our birth rights and telling us we have no rights in our country subliminally. Number #1 lie for decades it going to create jobs and benefit locals. That project to me look like another craft alive nonsense with trolley and ferris wheel. Look at the hospital the workers now are imported labour. what happen to the rest morons that ran for election, I ain't seeing them prove themselves to the community yet. Like a Joke said, "Put politians on minimum wage and you will see how things change so fast". If that was a minimum wage job none of them would run. Politians don't give a damn about the rest of us and so we can't leave these people to themselves, we have to protest these things.
    • Flagrant Foul (06/07/2012, 09:24) Like (0) Dislike (0) Reply
      Stop letting your emotions get the best of you. Financial Services and Tourism is what has the BVI standing and they're 99% foreign, what's your point? You sound like a stupid jacka..!
    • Not2Sure (06/07/2012, 13:14) Like (0) Dislike (0) Reply
      @ Protest, I am having a really hard time following your point. I get that you really hate foreigners, but I don't see what that has to do with the article about providing loans and technical support for BVIslanders to develop the cruise ship area?
  • ooooo (06/07/2012, 09:17) Like (0) Dislike (0) Reply
    with OJ being the boss, only the winters and ndp's gonna benefit from this
  • john public (06/07/2012, 09:25) Like (0) Dislike (0) Reply
    this two-face man seems like he's the spokesman for the project...i cant believe this is the same man who tried to kill biwater....all of a sudden locals cant finance/build and it also seems that he dont have a problem with foreign investors ...as for shaina and sawonde, they're dealing with this thing delicately as if they afraid to touch it but if it was vip...oh boy!
    • Flagrant Foul (06/07/2012, 10:21) Like (0) Dislike (0) Reply
      Education is key my friend, I really feel for you! Ocean Conversion was providing water and were willing to negotiate with Government before Biwater came. Ocean Conversion was proven to be capable of handling the water situation in the BVI although they did make some mistakes along the way with how they handled certain things. Which local business currently has a development at the Cruise Pier? The Tent City Alliance? LOL!! They're two different animals and when you research Biwater, you found many things, what have you found on this new company and its principles?...
  • Disaster (06/07/2012, 10:09) Like (0) Dislike (0) Reply
    This is a disaster waiting to happen. A bunch of parasites will be issued loans and the monies will not be re-paid. Mark my words. Tortola is fast becomining as welfare state. Watch and see..................
  • mask man (06/07/2012, 10:44) Like (0) Dislike (0) Reply
    This deal is worst than biwater...Cromwell is the biggest hypocrite on earth he can never get my vote!
  • Flagrant Foul (06/07/2012, 10:56) Like (0) Dislike (0) Reply
    Disaster is right. But when I hear them saying preferential rates over there, I didn't expect the rate to be so high. $1200-1500 a month for someone selling craft for example? Is that fee all inclusive, water, electricity etc.? They going have to sell a lot of craft lol.
  • taxpayer (06/07/2012, 11:13) Like (0) Dislike (0) Reply
    The saving grace here is that Dr. Smith signed the white paper which gives the UK a say in what happens here. My present concern is like the millions which Frazer give to Bi water, I trust that the 3.5 mil which is being transferred to this private company will be returned to the Port. If Mark want's to carve up k Mark he is free to do so. i would ask him however, to ease up off my taxes and my inheritence.
  • Development Fund (06/07/2012, 12:05) Like (0) Dislike (0) Reply
    Seems like good ideas misplaced. The Development Bank of the Virgin Islands established under Chief Minister Willard Wheatley administration and provided these exact services for years and assisted many businesses which are now very successful. When Chief Minister Orlando Smith converted the DBVI, a development bank, to the NBVI, a commercial bank, he had the wisdom to also establish by legislation a Development Fund which would serve the development functions now mentioned that the Business Bureau would do. Why not make the Development Fund operational and have Kevin Smith or someone else run it. This would be consistent with good governance: arms length from the Ministries and with flexibility to make decisions towards reducing the risks associated with the tendency towards using this as a way to give political favors. The Bureau is part of central government with the Minister as head. The Development funds is ran by a Board and an CEO with clear mandates and ability to govern, be transparent and accountable, and respond to the people's needs without complicating this with politics. Just implement the vision of 2003.
  • grace (06/07/2012, 16:21) Like (0) Dislike (0) Reply
    I was going to post a comment, but I changed my mind. Too much nonsense to inhale.
  • Sister (06/07/2012, 22:15) Like (0) Dislike (0) Reply
    Cromwell Brother look at Falmouth Jamaica and see how Disney thinks.Watch Hugh Darleys Cruise Conference presentations on line you can see this same guy rave of recreating the plantation day buildings and workhouses so the Disney cruisers can look down on the history of those slavery days from high up on their mega ship. Very Quaint and coming to your Capital Road Town Soon and for the next 48 years!! A destination within a Destination is the Disney Vision and it is not good enough that only 25 lucky businesses can rent a piece back, after all for the 4 acre rent free lease PPI/Disney will have 174,240sq foot for the next 48 years to use at their discretion. Great Deal for them but a loss to us ,our kids and grand-kids. Visitors will be spending all their money there as the taxis and little shops suffer. Does anyone know if this 48 year lease has been signed yet?
    • taxpayer (07/07/2012, 09:54) Like (0) Dislike (0) Reply
      If the deal has already been signed? The FCO has to sign off on this before anything can happen, Mark can He Ha as much as he wants. The chickens will come home to roost at some point. The same goes for Pickering's jet Airport.
  • grace (07/07/2012, 13:53) Like (0) Dislike (0) Reply
    This could be a good thing, if it is operated fairly and not " KISSES GO BY FAVOUR".
  • vip (08/07/2012, 09:03) Like (0) Dislike (0) Reply
    while the rich friends out in he new area selling expensive stuff.... the poor locals will be confined to the craft alive area selling coconuts,straw hats and handicraft
    • grace (08/07/2012, 15:22) Like (0) Dislike (0) Reply
      That is why we are confused about our culture, because what is indigenous to us as a people, we are ashamed of. When tourists visit a country their main interests are to see the individuality of the country. That means the Customs, Mores, and Traditions of the people. They are not interested in our adopted customs from our US neighbours, we should display our own IDENTITY.
  • ooooo (09/07/2012, 00:23) Like (0) Dislike (0) Reply
    an anguillian sold out the land what noel loyd them fought so hard for...imagine that!


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