MINISTRY OF TEATT LAUNCHES MSME DEVELOPMENT PROGRAM
MSMEs on St. Maarten comprise 85 percent of the formal business sector. Hence the sector is central to not only the economic development of the country but also the social development of the community at large. The failures of many businesses and entrepreneurs are due to the lack of knowledge and competences in successful running a profitable business.
In strengthening the MSME sector on August 2, 2022, the acting Minister of Tourism, Economic Affairs, Traffic and Telecommunication (TEATT), Omar Ottley signed a service level agreement with the local entity, A&A Accounting, Business Support & Training Center to launch a training and business support program geared towards the development of the Micro, Small and Medium Enterprises (MSMEs) Sector.
A & A Accounting was selected as the preferred entity through a public bidding carried out by the Ministry in April 2021. The firm presented the Minister of TEATT a tailored made program, the “SME & Entrepreneurship Development Program (SEDP)”. The Government of St. Maarten is honored to partner with A & A Accounting to implement such an important program for our MSMEs.
The SME & Entrepreneurship Development Program (SEDP) is a structured training course to support in developing abilities and skills of small businesses and entrepreneurs to run a business efficiently and successfully.
The training and business support program, which is scheduled to commence September 2, 2022, is founded on the Government’s National MSME Policy Framework and is designed as a sustainable solution to help strengthen and grow MSMEs by assisting them to temporary cope with deficiencies in their operations and overcome various economic challenges they might be experiencing. The SEDP slogan in meeting the need of each MSME is “transform SXM, One Small Business at a Time”
The two main components of the SEDP are:
Component 1: SME & Entrepreneurship Development based on a structured training tailored to the needs of Start-up MSMEs and Entrepreneurs as well as building the capacity of existing ones.
Component 2 is geared towards supporting MSMEs to apply for a Grant/Loan as a means of recovering from damage to the business due to the passing of the hurricanes in 2017 or the impact of the COVID-19 pandemic on their operations.
All interested Entrepreneurs, aspiring and existing, must register by August 23, 2022 by filling out the intake form on the website: www.aa-accounting.sx/upcoming. In addition, a one-minute business idea pitch must be submitted via email: sedc@aa-accounting.sx
The selection and announcement of the 25 existing and aspiring MSME for the program will take place on August 31, 2022.
The program is officially expected to kick off with a Grand Opening Event on Friday September 2, 2022 at the Paradise Event Hall.
For more information you can email sedc@aa-accounting.sx or call 721-542-2025 or WhatsApp 721-556-5653.
Acting Minister of Tourism, Economic Affairs, Transportation and Telecommunication (TEATT) Omar Ottley
In photo from left - right;
Valya Pantophlet (ETT), Ann Marlin-Evans (A&A Accounting), Jamal Cummins (A&A Accounting), Acting Minister of Tourism, Economic Affairs, Transportation and Telecommunication (TEATT) Omar Ottley, Pearl Hendrickson (A&A Accounting) and Saskia Farquharson (A&A Accounting).
