Connect with us

News

MSME Programme Managed by Invest TCI Announces Improved Amendments to the Programme

Published

on

#TurksandCaicos, December 9, 2022 – The Micro Small and Medium Enterprise (MSME) Programme managed by Invest Turks and Caicos Agency (Invest TCI) announced improved amendments to the Programme.

Invest TCI hosted a press briefing on Tuesday, December 6th at 10am at Beaches Turks and Caicos Resort Villages & Spa to announce the exciting amendments to the MSME Programme. Present at the conference were The Honourable E. Jay Saunders, Deputy Premier and Minister of Finance, Investment & Trade, The Honourable Rachel Taylor, Minister of Education, Employment and Customer Service, representatives from various government departments, key stakeholders, MSMEs, the media and other specially invited guests.

April 2016 saw the commencement of the Government’s MSME Programme, which Invest TCI manages with support from the Ministry of Finance. Governed by the MSME Development Ordinance 2015, the programme makes provision for the Government to provide concession orders to qualifying locally owned businesses operating in identified priority business sectors. The concession orders permit a company or start-up to receive specific benefits, namely: cash grants, customs duty reduction, and technical assistance, depending on the size of the business. The recent amendments to the MSME Programme see an expansion in the qualifying sectors, increases in cash grants depending on the size of the business, further coverage for technical assistance and provision for businesses to access an additional $10k if they meet specific KPIs. Additionally, MSMEs will experience a more streamlined application process with user-friendly forms.

The expanded sectors include:

  • Heritage/Cultural Historical Preservation Projects
  • Public/Mass Transportation
  • Healthy Living/Lifestyle
  • Food Processing/Food Packaging
  • Highly skilled or specialized services such as accountants, surveyors, engineers, Technicians, STEM (science, technology, engineering, mathematics)
  • Business with a direct correlation to the TVET Programme (majority owned by TVET graduate)
  • Renewable Energy/Energy Efficiency
  • Sea Salt Harvesting/Processing
  • Waste Management/Collection

Additional benefits for technical assistance include $5,000 for micro, $10,000 for small, and $15,000 for medium businesses.  The cash grant amount increased to $10K for micro, $20K for small, and $30K for medium enterprises.

Commenting on the event, Alexa Cooper, VP of SME Development, stated, “Firstly, I want to acknowledge and thank the team who worked diligently behind the scenes on the amendments to the MSME Programme. With the announcement of these new amendments and Invest TCI’s efforts to promote and streamline processes and procedures, we expect an exponential increase in applications, Concession Orders, and the value of benefits. Our goal is to exhaust the budget and ensure that MSMEs receive the help they need to run successful businesses”.

Angela Musgrove, CEO of Invest TCI, further stated, “We encourage locally owned small businesses and start-ups to take advantage of the opportunity and apply for assistance. Entrepreneurship plays a vital role in economic development and creates new enterprise that energizes the economy. We urge more entrepreneurs to contact us at Invest TCI to assist in bringing their projects to reality.”

The Honourable E. Jay Saunders, Deputy Premier and Minister of Finance, Investment & Trade, remarked, “I am delighted to see these amendments become a reality. As the MSME Programme falls under the Ministry of Finance, I was personally invested in ensuring a successful outcome from Cabinet. Honourable Saunders further stated, “It is our goal to empower entrepreneurs and assist in providing the necessary resources to kickstart their businesses. We want to ensure that Invest TCI’s activities are aligned to strategically focus on MSMEs with deliberate efforts to place greater emphasis on supporting domestic investment and entrepreneurship so that Turks and Caicos Islanders are empowered entrepreneurs and contributors to the TCI economy”.

Continue Reading

Caribbean News

Migration Is No Longer Just About Borders

Published

on

What Caribbean migration dialogues reveal about the region’s future

 

By Patrice Quesada, Coordinator, IOM Caribbean

Migration has become one of the defining issues shaping the Caribbean’s future—not simply because people are moving, but because our economies, labour markets, populations and climate realities are changing.

Over the past several weeks, I have participated in migration discussions at the global, regional and national levels. While each conversation was different, they all pointed to the same conclusion: the Caribbean is beginning to recognize migration not only as a border issue, but as a development issue.

The challenge now is moving from dialogue to action.

From Global Commitments to Caribbean Solutions

That shift was evident during the International Migration Review Forum held at the United Nations in New York, where Caribbean participation was particularly strong. Delegations from ten Caribbean countries, including ministerial representatives from Barbados and Belize, reinforced the region’s growing commitment to shaping international migration policy.

Two messages emerged clearly.

First, migration governance must be grounded in each country’s realities and supported by concrete national commitments. Second, migration cannot be viewed in isolation. It is closely linked to labour markets, demographic change, climate vulnerability and long-term development planning.

Every Caribbean Country Has Its Own Story

Across the region, governments are approaching migration through different lenses.

In Saint Lucia, the launch of the country’s draft migration policy reflected concerns about declining birth rates, labour shortages and continued emigration. The discussions recognised that labour needs, diaspora engagement, remittances, return migration and protection must all work together within one national strategy.

Jamaica demonstrated how migration planning can begin at the local level, with Clarendon becoming the country’s first parish to integrate migration considerations into its long-term development strategy.

Guyana, meanwhile, is managing migration in the context of rapid economic growth, balancing increased labour demand with worker protections and orderly migration systems.

Barbados has also begun incorporating migration into broader population planning as it addresses demographic decline and an ageing population.

The Bahamas has focused on disaster preparedness, bringing together government agencies to strengthen national plans for managing inter-island and cross-border movement during emergencies while safeguarding the rights and dignity of displaced people.

Different countries face different challenges—but all are recognising migration as an essential part of national planning.

The Caribbean’s Greatest Untapped Asset

One message resurfaced repeatedly throughout these discussions.

The Caribbean diaspora should no longer be viewed simply as a source of remittances.

Across the region, citizens living abroad continue to contribute through investment, entrepreneurship, professional expertise, advocacy and, in many cases, by returning home with new skills and experience.

The opportunity now is to engage the diaspora more deliberately as a strategic development partner.

Turning Dialogue into Action

Technical discussions held throughout May demonstrated that governments are beginning to move beyond policy conversations.

CARICOM, supported by the International Labour Organization and the Inter-American Development Bank, convened regional labour migration specialists to explore how migration can help address workforce shortages while ensuring fair recruitment and decent working conditions.

Together, these initiatives suggest the Caribbean is entering a new phase—one where migration is no longer viewed simply as movement across borders, but as a tool for economic resilience, demographic planning and sustainable development.

The conversations have begun.

The next challenge is ensuring they lead to meaningful action.

Continue Reading

Caribbean News

Caribbean Urged to Rethink Tourism as Travel Patterns Shift

Published

on

Deandrea Hamilton | Editor

The Caribbean’s tourism industry has mastered the busy season. Now, a new report says the region’s biggest opportunity lies in transforming the months it has long considered its slowest.

The latest Amadeus Travel Insights Report, produced in partnership with the Caribbean Hotel and Tourism Association (CHTA), urges Caribbean destinations to strengthen marketing efforts and forge closer partnerships with airlines to stimulate demand during the traditionally quieter months of September and October.

The report comes despite a strong performance by the region, with international visitor arrivals climbing by approximately 30 percent over recent years. Researchers caution, however, that continued growth cannot be taken for granted simply because demand remains strong during peak travel periods.

Instead, the study points to a persistent seasonal challenge.

While Caribbean destinations continue to attract robust visitor numbers during the winter travel season, arrivals typically flatten once the calendar turns to late summer and early autumn. Those months coincide with the height of the Atlantic hurricane season—a reality that has long influenced travel decisions and presents a challenge largely beyond the control of tourism-dependent economies.

The report suggests the solution lies in changing traveller behaviour rather than simply waiting for demand to return.

That means targeted promotions, strategic airline partnerships, expanded route development and marketing campaigns designed specifically to encourage off-season travel.

There is another encouraging finding for the Caribbean.

According to the report, airfares to Caribbean destinations remain broadly competitive with those to South America, giving the region a valuable advantage as travellers continue searching for affordable international getaways.

For tourism leaders, that pricing competitiveness provides an opportunity to attract visitors who increasingly weigh value alongside destination appeal when planning holidays.

The challenge now is convincing travellers that the Caribbean offers compelling experiences beyond its traditional high season.

Whatever strategy emerges, the report suggests success will depend on balancing innovation with reality. September and October will always bring heightened weather risks, but with stronger airline partnerships, creative marketing and attractive pricing, the region could unlock new opportunities during months that have historically been among its quietest.

For a tourism industry built on resilience, the next frontier may not be attracting more visitors—but attracting them at a different time of year.

Continue Reading

Caribbean News

From Negril to Number One: Jamaican Doctor Named Valedictorian in China

Published

on

A young Jamaican has given the Caribbean another reason to celebrate academic excellence on the world stage.

Dr. Orbin O. Barnes, originally from Negril, Jamaica, has graduated as valedictorian of the Class of 2026 at Jinzhou Medical University in China, capping years of rigorous medical training with the highest academic honour awarded to his graduating class.

His achievement has been widely celebrated across social media, with many Jamaicans praising the accomplishment as another example of Caribbean talent excelling internationally.

Studying medicine abroad is no small undertaking. Students must adapt not only to demanding academic requirements but also to a different language, culture and healthcare system. Barnes’ selection as valedictorian signals exceptional academic performance, leadership and commitment throughout his years of study.

China has become an increasingly popular destination for Caribbean students pursuing medical degrees, offering internationally recognized programmes at a fraction of the cost of many universities in North America and Europe. Over the past decade, growing educational ties have seen more Jamaican and Caribbean students choose Chinese universities to prepare for careers in medicine and other professional fields.

Barnes now joins a growing list of Caribbean graduates distinguishing themselves on the global stage, reinforcing Jamaica’s reputation for producing high-achieving professionals whose talents extend far beyond athletics, music and culture.

For many young Caribbean students considering overseas education, Dr. Barnes’ success is a reminder that determination, discipline and hard work can open doors anywhere in the world.

Graduating at the top of his class, he leaves Jinzhou Medical University not only with a medical degree, but with the honour of delivering the valedictory message on behalf of the Class of 2026—an achievement that has filled Jamaicans with pride both at home and across the diaspora.

PHOTO: Instagram

Continue Reading

FIND US ON FACEBOOK

TRENDING