National Entrepreneurship Strategy focuses on financing gaps, slashing red tape and startup support
One in four islanders is interested in starting a business but barriers like limited financing and a complex process are holding them back.
A new blueprint launched today aims to cut red tape and turn that ambition into action.
It’s a joint initiative between the Ministry of Economy and Labour and the Bermuda Economic Development Corporation.
The National Entrepreneurship Strategy is a five-year plan rolled out in three phases.
As BEDC Executive Director Erica Smith explains, the first step is removing barriers quickly, starting with a one-stop business hub.
The strategy also aims to improve access to financing through new tools, including a public-private Bermuda Innovation Scale-Up Fund, while expanding modern options like peer-to-peer lending and crowdfunding – currently unavailable in Bermuda.
Another key focus is integrating entrepreneurship into the school system, as Economy and Labour Minister Jason Hayward explains.
Read the full strategy below.
