MSMEPortal

 OVERVIEW: Small Enterprise Development Unit (SEDU)

The Small Business Development Centre (SBDC), also known as the Small Enterprise Development Unit (SEDU), is a department within the Ministry of Tourism, Commerce, Investment, Creative Industries, Culture and Heritage.   It is envisaged that the SBDC will offer a more holistic approach to the development of the Micro and Small Enterprise (MSE) sector in Saint Lucia, with the core mission being to help businesses become globally competitive by providing long term consulting, training, financing and market research solutions that create real economic impact.

The SBDC was officially launched in November 2014, and through it, offers Saint Lucian entrepreneurs expert knowledge and experience in a range of fields related to business development. The SBDC is part of a network of business support organizations/partners which include BELFund, Environmental Health Department, Ministry of Physical Development, Monroe College, National Competitiveness and Productivity Council (NCPC), National Research and Development Foundation (NRDF), National Skills Development Centre (NSDC), Saint Lucia Bureau of Standards (SLBS), Saint Lucia Development Bank (SLDB), Sir Arthur Lewis Community College (SALCC), the Trade Export Promotion Agency (TEPA), and University of the West Indies (UWI) Open Campus.

The Small Business Development Centre (SBDC), through its network of partners, will serve as a catalyst in improving service delivery to our existing and future entrepreneurs. The Centre pledges to put clients' interests first, behave as professionals, keep client information 100% confidential and to assist all clients with high-value services which will help them make better business decisions and provide value to their operations.

Background

It is well known that micro and small enterprises (MSEs) have the potential to create and expand employment opportunities, develop entrepreneurial skills, enhance market opportunities, and engage in export promotion and import substitution.  Therefore, recognizing the important role that the MSE sector plays in contributing to the social and economic development of the country, SEDU (now the SBDC) was established.  SEDU was first funded by contributions from the Government of Saint Lucia (GOSL), the United Nations Development Programme (UNDP) and the International Labour Organization (ILO).  Today the operations of the Department are fully financed by the Government of Saint Lucia.

SERVICES

The SBDC's services are open to all legal micro and small existing and potential businesses.  SEDU achieves its mandate through various programmes, namely:

I. Advocacy

• Business Name Registration

• Incorporation of Companies

• Duty Free Concessions

• Networking Opportunities

II. Entrepreneurial Development

• Entrepreneurial Training

• Management Advisory Services

• SBDC Young Entrepreneurs in Action (SBDC YEA!) Programme

III. Market and Product Development

• Exhibitions

• Marketing Plans and Market Research

• Standards Promotion

• Product Development

IV. Access to Finance

• Business Plan Development assistance

• Financial Record Keeping Systems

• Loan Grant Funding