Empowering Bahamian small and medium enterprises (SMEs) has been a key focus of this PLP government. Through the Small Business Development Centre (SBDC) Access Accelerator, hundreds of aspiring and existing entrepreneurs have obtained crucial funding, training, and mentorship since 2021. 

In fact, the SBDC has disbursed over $50 million in grants and affordable loans to MSMEs during this term – supporting businesses ranging from technology startups and creative studios to farmers and fishing cooperatives. 

Targeted programmes were introduced to uplift underrepresented groups: for example, in June 2023 the SBDC awarded Women Entrepreneur Standalone Grants of up to $10,000 each to 53 women-owned businesses in New Providence , spanning industries like catering, fashion, and beauty. A similar “Men in Business” grant initiative launched with private sponsorship (e.g. Carnival Corporation) issued grants to 60 male entrepreneurs totaling over $500,000 in late 2023. 

And to cultivate the next generation, a Youth Entrepreneurship programme began in December 2023 offering startup grants and incubator support to those under 30. The impact is tangible: new small businesses are opening and thriving. One shining example is an Andros-based egg farm (funded partly by SBDC and the Golden Yolk project) that has begun supplying local stores, creating jobs on that island. 

The SBDC has also launched entrepreneurial funding for persons with disabilities, fly fishers, craft makers, creatives, tourism entrepreneurs, and blue economy entrepreneurs.

The government has eased the burden on SMEs by waiving business licence fees for new ventures for the first year and cut back on analogue processes and bureaucracy with a simplified online business registration and licensing portal. The MyGateway portal, along with an Electronic Companies Register, the Customs Electronic Single Window, and the e-procurement process have all contributed to simpler, faster government transaction for entrepreneurs and citizens alike.