By ANNELIA NIXON

Tribune Business Reporter

anixon@tribunemedia.net

THE Small Business Development Centre (SBDC) has signed an agreement with the Abaco Chamber of Commerce that is designed to expand access to financing, business training and advisory services for entrepreneurs on that island.

The memorandum of understanding (MOU) expected to strengthen collaboration between the two two sides through connecting more businesses with funding opportunities, mentorship, export readiness programmes and networking initiatives, while also encouraging greater Chamber membership among entrepreneurs.

Speaking at the signing ceremony, Samantha Rolle, the SBDC’s executive director, said the partnership reflects the agency’s commitment to ensuring economic development reaches beyond New Providence.

“Achieving national development requires opportunities to extend beyond New Providence and reach every island, rock and cay,” Ms Rolle said. “Economic growth must be inclusive, and our entrepreneurs, regardless of where they live, deserve access to the resources they need to succeed.”

Since 2022, the SBDC has facilitated more than $10.9m in financing for Family Island businesses, with Abaco receiving the second-largest share after Grand Bahama. To-date, more than $5.6m has been injected into Abaco businesses.

Ms Rolle said approvals for Family Island businesses under the SBDC’s guaranteed loan programme have outpaced those in New Providence for 2026, which she described as evidence that entrepreneurship is accelerating outside Nassau.

She added that the SBDC’s support extends beyond financing to include entrepreneurial training, mentorship, technical assistance and business advisory services. Ms Rolle said the new partnership will help bring those services closer to entrepreneurs in Marsh Harbour, Sandy Point, Spring City, Coopers Town, Hope Town and the surrounding cays.

“The essence of this collaboration and formalised memorandum of understanding with the Abaco Chamber of Commerce is to highlight the need and the potential outcome of a strong ecosystem,” she said.

“And so what that means is that, when we have the various groups that are there to support small businesses in our communities, we come together in a partnership and focus on some of the key areas that are most needed for our small business owners and entrepreneurs. That is when we realise, and we really be able to achieve, the objectives of the support.”

Ms Rolle also urged entrepreneurs to become members of the Abaco Chamber of Commerce, adding that chamber membership will provide greater access to advocacy, networking opportunities, export readiness programmes, trade missions and funding support available through the partnership.

Chantelle Sands, the Abaco Chamber president, described the agreement as an investment in the island’s economic future, adding that businesses are now looking beyond rebuilding post-Hurricane Dorian and COVID towards expansion.

“Our business community has demonstrated remarkable resilience over the past several years as we continue to rebuild, grow and diversify our local economy,” Ms Sands said. “Partnerships like this are essential.”

More than five years after Hurricane Dorian devastated Abaco, Ms Sands said many businesses have successfully rebuilt but are now seeking guidance to expand operations and launch new ventures.

“There are some entrepreneurs who have great ideas and don’t know how to get them started,” she said. “We see this partnership helping entrepreneurs get started by providing advisory services, workshops and business development training that will allow them to sustain their businesses going forward.”

She added that the collaboration could also help diversify Abaco’s economy into new industries. While welcoming recent revisions to boating fees, Ms Sands said the Abaco Chamber continues to monitor concerns within the marine sector and plans to work with the SBDC to develop opportunities tied to the blue economy.

“We’re happy to note that the boating fees have been adjusted,” she said. “Persons still are not quite comfortable with all of the fees that have been amended, but we continue to monitor it and work with government agencies to see how we can improve going forward.”

She said the Abaco Chamber hopes increased awareness and training surrounding the marine, or blue, economy will create new opportunities for Abaco businesses.

Ms Sands also identified several long-standing obstacles facing the island’s business community, including healthcare access, deteriorating port infrastructure and poor road conditions.

She added that reliable healthcare remains critical for a tourism-dependent economy, while inadequate docks complicate the importation of goods for businesses and residents alike.

“The infrastructure on the docks has been in disarray for many, many years,” she said, adding that deteriorating roads across the island also continue to affect the movement of residents, visitors and commercial goods.

Don Williams, president of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC), said the agreement reinforces the importance of supporting businesses throughout the Family Islands rather than concentrating resources in Nassau.

“The Bahamas is not Nassau-centric,” Mr Williams said. “We have many opportunities amongst our family of islands, and it is up to us to expand not just the opportunities, but the level of funding, resources and mentorship that can be provided.”

Business owners also welcomed the partnership. Christine King-Wallen, general manager of The Paint Place, said her company has operated in Abaco since 2002, lost everything during Hurricane Dorian and reopened in 2022 after rebuilding.

“We have been resilient in the economy since the hurricane,” Ms King-Wallen said. “Today is a special occasion for every business in Abaco to see the opportunities this partnership will bring to the local economy.”