Republic Bank, Caribbean Export to support SMEs
The Republic Bank and the Caribbean Export Development Agency have started a collaborative capacity-building initiative to position small businesses for expanded success.
Dubbed “The Republic Bank – Caribbean Export Programme”, the capacity-building programme will provide small and medium enterprises (SMEs) access to finance and export opportunities.
With co-funding from the European Union (EU) through the third Regional Private Sector Development Programme, a virtual finance and export development training initiative will commence in April 2025 to benefit 500 SMEs.
The SMEs would be across Anguilla, Barbados, the British Virgin Islands, the Cayman Islands and Dominica.
Other countries are Ghana, Grenada, Guyana, St. Kitts and Nevis, St. Lucia, St. Maarten, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago, providing them access to relevant and dynamic expert training designed to help them scale, innovate and compete globally.
The event would be on the theme: "Thrive: Unlocking Finance and Export Potential for SMEs".
In a statement released by Republic Financial Holdings and issued last Wednesday, it said the programme would focus on building resilience, improving financial literacy, and unlocking new market potential — key ingredients for sustainable business growth through online learning, live group sessions, and invaluable networking opportunities.
The programme is being implemented in two phases, with the first phase being business capacity building of up to 500 entrepreneurs who would receive expert training to enhance their financial and export readiness.
“From this group, the top 50 participants will advance to the second phase — Access 2 Finance Accelerator — a fully funded, six-month intensive training programme.
“While the value of phase one training is $156 per participant, a nominal commitment fee of $60 will be charged,” it stated.
The statement added that the fee would be fully refunded upon successful completion of Business Capacity Building 1.0.
Corporate social responsibility
The Group President and Chief Executive Officer of Republic Financial Holdings Limited, Nigel Baptiste, said the programme aligned with the bank’s “Power to Make A Difference” corporate social responsibility to bolster entrepreneurship and accelerate the development of communities and countries.
"We recognise the incredible potential of SMEs and the barriers they face in accessing finance and expanding into new markets.
“Through this initiative, we are committed to bridging that gap, providing the knowledge and resources necessary for businesses to not just survive, but thrive," Mr Baptiste said.
He said beyond business success, it also aligned with global goals for sustainable economic development, particularly Sustainable Development Goal (SDG) Eight on Decent Work and Economic Growth and SDG 10 on Reduced Inequalities.
The statement added that the event would equip SMEs with the tools to adopt innovative and sustainable practices and drive inclusive growth across all markets.
Strengthen businesses
The Executive Director of Caribbean Export, Dr Damie Sinanan, emphasised the programme's role in strengthening businesses' competitiveness.
“It is an immense pleasure to partner with Republic Bank, one of the most successful indigenous financial institutions in the Caribbean, to empower small and medium enterprises across the region.
“Through Thrive, we are not just offering training — we are equipping businesses with the financial acumen, market intelligence, and strategic networks needed to scale and succeed,” he said.
Dr Sinanan added that by addressing key barriers to growth, the initiative would strengthen the region’s private sector and position Caribbean entrepreneurs to take full advantage of international trade opportunities.
“With the right support, these enterprises can fuel innovation, create jobs, and position themselves as key players in the regional and global marketplace,” he added.