ST. GEORGE’S, Grenada, CMC – The Organisation of Eastern Caribbean States (OECS) Commission, says the business development services will be made available “in the coming weeks,” starting with one-on-one diagnostic assessments of participating micro, small, and medium-sized enterprises (MSMEs) in the blue economy.
The Commission, through the World Bank–funded Unleashing the Blue Economy of the Caribbean (UBEC) project, has just successfully hosted two BDS workshops here targeting MSMEs.
The Commission said that both sessions attracted strong participation from MSMEs involved in fisheries, marine tourism, and waste management, offering valuable insights into the Regional MSME Matching Grants Programme and the BDS that will be rolled out in the coming weeks.
“Coming off the business diagnostic assessment, we will understand more about the businesses, what their strengths and weaknesses are, where their gaps lie, what needs they may have, and then we will be able to develop a group training and capacity building programme.
We are aiming to close those gaps. We will address areas such as recordkeeping, costing and pricing, grant proposal writing, business plan development, and so on,” said BDS consultant, Dr. Jeanelle Murray, indicating that MSMEs can expect to gain further insight from the BDS.
The BDS will begin with one-on-one diagnostic assessments of participating MSMEs to identify business gaps and design appropriate training and technical support, with the OECS Commission saying that these services are tailored to strengthen the competitiveness and operational capacity of blue economy businesses.
It said that the sessions provided an overview of the UBEC Regional MSME Matching Grants, which offer up to US$25,000 for individual businesses and up to US$150,000 for value chain groups. The sessions also included information to help MSMEs become more competitive and application-ready.
The Regional MSME Matching Grant Programme is a flagship UBEC initiative that provides financial support and business development assistance to MSMEs in the blue economy.
Individual MSMEs may access grants ranging from US$5,000 to US$25,000, with groups or value-chain partnerships being able to access between US$100,000 and US$150,000.
The grants are non-repayable and are designed to boost productivity, sustainability, innovation, and resilience.
The Blue Economy refers to the sustainable use of ocean and coastal resources for economic growth, improved livelihoods, and environmental health. The Caribbean includes fisheries and aquaculture, marine and coastal tourism, sustainable marine transport, waste management, and recycling linked to ocean conservation.
The OECS Commission said that UBEC supports a transition to a blue economy by promoting inclusive economic development while ensuring that marine ecosystems are preserved and sustainably managed.
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