Commissioner of Economic Affairs Maria Buncamper-Molanus praised the Small Business Development Foundation (SBDF) for being pro-active in submitting seven project dossiers to be taken up within the Social Economic Initiative (SEI) process.
The Commissioner said the programs have been submitted at an opportune time taking into consideration the worldwide economic downturn. "Small businesses are the backbone of any economy and St. Maarten is no different in this regard. These programs should be looked at as tools. By giving small businesses these tools they stand a better chance of being successful, which in turn leads to job creation and a more sustainable economy in general," the Commissioner said.
Six of the programs have been determined by the SBDF as priorities for the first phase in the SEI implementation. The seventh program, "Be Your Own Boss", although proven successful, is not considered in the first phase of the SEI implementation. However, SBDF is of the opinion that this program is urgently needed for the island’s economic development, especially among the youth.
The other six programs are:
– Entrepreneurship Training. The objective is to realize a more sustainable economy through diversification with focus on marketable areas and areas of economic benefit.
– Consumer Protection Act. The main goal associated with this project is to assist in protecting the consumers in general, by ensuring that legislation be put into effect in this regard.
– Tax Filing Program. An educational program to create awareness about rights and obligations in taxes.
– SBDF Support Capacity Building. The objective is to strengthen the capacity and out-put of the SBDF services to its target groups. The improvement and upgrading of the services is an integral part of the SEI implementation as well as other future activities.
– Aquaponic System. To create alternative job-opportunities outside the tourism sector (agriculture).
– Youth Entrepreneurship Program. The creation and development of better understanding of the alternative job opportunities and the advantages St. Maarten offers in becoming an entrepreneur.