–Minister Walrond says

EVOLVING further beyond regular small business grants to more strategic development projects, the Ministry of Tourism, Industry and Commerce is aiming to foster entrepreneurship and job creation in various communities.

Subject Minister, Oneidge Walrond, highlighted this initiative while responding to questions posed by the opposition on the increases in spending to support small and medium sized businesses.

The Small Business Development Fund’s allocation increased from $450 million in 2024 to $600 million in 2025.

The increase, Minister Walrond said, is supported by research conducted by the Small Business Bureau.

She said: “We have changed focus from the dispensing of the Small Business small grants and moving towards the Strategic Community Development projects.

“So, it’s providing small businesses to come together in different areas, and so the small business team went out to the different communities, done the research on the ground, and we have, and they have indicated, as I have indicated, to foster entrepreneurship, to create jobs in these communities, to boost the local economies,” Walrond said.

Dissatisfied with the initial response, several Opposition Members repeatedly pressed the Minister, posing various iterations of the same question.

Obliging, Walrond explained further that this new direction amplifies the existing structure, zeroes in on investing in community-based projects that ensure long-term viability and sustainability, fostering greater economic resilience.

In other words, while the grants programme facilitated by the Small Business Bureau grants has provided crucial financial support, community-based initiatives offer a more structured and sustainable model for economic development.

This decision, she reiterated, was made following extensive consultations and assessments, and as such the necessary funding has been allocated so the Ministry can proceed with implementing the initiative.

Communities such as Kamarang, Wakenaam, Rockstone, Kwakwani, Moraikobai, and Baracara, are expected to benefit from this new approach.

This shift represents a more strategic and impactful approach to economic development. By focusing on community-led initiatives such as apiculture, aquaculture, hydroponic shade houses, aquaponics, cashew nut farming, and prawn farming, the government aims to create lasting benefits, strengthen local industries, and promote self-sufficiency.

These projects will be implemented by the Small Business Bureau through a detailed consultative process with community members and local leadership.

According to the Minister, it aligns with the government’s broader vision of enhancing entrepreneurship.

It is believed the approach will see communities being directly involved in planning and executing project.

“So in different communities, there might be prawns farming, hydrophonics, cashew nut farming, several shade houses across the different communities,” she said adding: “This is to ensure that the small businesses that are involved in community projects, community entrepreneurship, and they are integral part of the local community to boost it, and we will be providing the necessary resources to support these initiatives.”

Aside from this, the government has also established an export readiness programme, aimed at guiding and preparing small businesses to enter larger markets.

Minister Walrond said: “At the Ministry, we have developed the export readiness programme, and this will be doing that strategically to indeed target and focus on strengthening the capacity of our local businesses that access international markets. It will be aimed at improving the knowledge and skills our small and medium sized enterprises to successfully export their service.

“So, this programme is geared at preparing businesses for the export markets by offering practical guidance on market entry strategies and export compliance and product standards and international marketing to name a few.”