Belvedere business incubator likely for March opening

The Ministry of Business is working assiduously to open the Belvedere Business Incubator Facility at Belvedere Industrial Estate, Region Six by March.

The Department of Public Information (DPI) said that Minister of Business, Dominic Gaskin made the announcement during a visit to the site on Friday. He said more than $116 Million have been invested in this project, which will aid small businesses to start up their operations for the first three years so that they can be sustained afterwards.

“The purpose of the incubators - as you can see there are six pods and a multi-purpose room in the centre - will provide temporary workspace for small business until they become independent. In the incubators …we are supporting all types of business, once you have a business plan,” Gaskin said, according to DPI.

The Belvedere industrial estate was a project of the previous PPP/C government but was never completed. Three years ago, Gaskin had spoken about getting the project moving. The incubator is still to be launched.

The Minister said that the facility will have basic equipment to better assist persons to get off their businesses up and running.

Budding entrepreneurs will be offered room space, training, marketing, consulting, organization and management among other services.

“We will advertise and set out some specific requirements and criteria, everyone will be able to know what is required in advance. Systems will be put in place for smooth flow at the facility”, Gaskin said.

Gaskin said that the construction of another Incubator facility in Lethem is not yet finished since that facility is larger and consists of 12 pods and a larger Multi-purpose area.

In early 2018, the Ministry of Business was allocated a total sum of $350 Million for completing work at the Incubator Facilities at the Lethem Industrial Estate, Region Nine and Belvedere Industrial Estate, Region Six. In October 2018 a further $193 Million was cleared by the National Assembly. The Business Minister had said that the supplementary amount was needed due to the significant advancement of infrastructural works and the need for an additional access road to the Business Incubator at Lethem.