SME_CH

 
MSME Clearinghouse:  Dominica

arrow Legal Framework:
 
arrow National Initiatives to Support the MSME Sector:
 
  • Ministry of Commerce, Enterprise and Small Business Development (MCESBD)

    The Small Business Assistance Program under the Ministry provides the following support:

    • Grant Funding
      provides small grants assistance to micro enterprise owners for the establishment of their enterprise; the grant could also serve as cash collateral for business loans from other financial institutions.

    • Training
      training clients in micro and small business development via organized training workshops. These training include record-keeping, marketing, customer service, basic accounting, business management, time management, financial management and personal development.

    • Rural Business Enterprises
      incubator type cluster enterprises for enhancing rural development.

    • Technical Assistance
      appraisal of business ideas; business plan assistance and preparation

    • Small Business Development Centers (SBDC)
      currently under development for launching in the city with the Association of Industry and Commerce(DAIC) and Dominica Manufacturing Association and in the North with the Portsmouth Town Council.. It is a center that will provide high level technical assistance to MSMEs; this includes training, business advice, advocacy and networking.

    • Dominica Youth Business Trust (DYBT)
      The DYBT has three (3) components which they offer to young entrepreneurs from ages 18 to 35. They are:

      • Small Business Assistance Facility (SBAF)
        this involves a five-day residential retreat on Personal Development and Achievement Motivation Training. Entrepreneurs engaged in a series of sessions including but not limited to business planning, leadership development, techniques for market survey, record-keeping, cash flow analysis, costing and pricing etc.

      • Entrepreneurship Development Program (EDP)
        This comprises of three (3) day training session

      • Loan Guarantee Facility
        Upon completion of these trainings (80% participation) the participants are provided with one-on-one business plan consultancy by the business plan training team. Once business plans meet the standards of the Business Plan Assessment Committee, and is approved by DYBT entrepreneurs may approach the financial institutions for loan negotiation.

        A loan guarantee fund in the amount of EC$20,000.00 maximum) is provided to each eligible applicant.
    • Dominica Association of Industry and Commerce (DAIC)
      This is a private sector representative body with members across various sectors and industries. The benefits associated with being a member of DAIC includes: discount on training workshops, advocacy (public sector engagement), networking opportunities, trade facilitations, opportunities for partnership and linkages locally and regionally, and representation at meetings, consultations, boards, committees, workshops.

    • Dominica Manufactures Association (DMA)
      This is a non-profit organization and representative body whose objective is to represent interested manufacturers in Dominica by creating opportunities for the sales and marketing of their local produce, and at the same time ensuring that the products are consistent, of high quality and are cost effective. Opportunities for training, equipment and funding is also available to its members.

    • AID Bank
      Loan opportunity at low interest rates for persons involved or wanting to start-up an agriculture business, manufacturing, agro-processing and tourism business. The Women Entrepreneurs Fund (WE Fund) is an additional product offered by the bank that is geared towards developing the MSME sector focus being on women.

  • National Development Foundation (NDFD)

    • Loan
      micro-financing to small businesses at low interest rates - 5% interest on farming loans and 8% on all other business loans.

    • Training
      training in small business management

    • Technical
      wide variety of trainings including accounting, record-keeping, customer service, management etc.
      Other technical assistance include assistance with tax and social security forms, business plan preparation, and advice.

    • Expo
      opportunities for small businesses to showcase their products and services both locally, regionally and internationally

  • Invest Dominica Authority (IDA)
    Duty-free concessions on equipment, machinery, appliances, generators, renewable energy, tax holiday for specific business entities such as those involved in hotel and accommodation. and tourism related services /businesses night clubs, restaurants, tour operators, manufacturers, mining and quarrying, water sports, and those with significant investment and employment potential.
    Additionally, they provide consultations and business support, and assist with policy development.

  • Ministry of Finance
    Duty-free concession on vehicles used for agriculture/farming purposes as well as private vehicles that will be used to aid the business.

  • Dominica State College (DSC)
    The DSC offers an entrepreneurship course / programs that is focused on developing the innovative ideas, skills, knowledge, creativity of young businesspersons, and providing then with an understanding of how it can be used to form a new and successful business.