Dominica’s micro, small and medium enterprises (MSME) are one of the key drivers of economic growth while contributing to productivity, employment and innovation; therefore, it is imperative for the Climate Resilience Execution Agency for Dominica (CREAD) to support and strengthen the resilience of a sector which contributes significantly to the country’s GDP.
CREAD recognizes the importance of formalizing the sector within the context of the Climate Resilience and Recovery Plan (CRRP) which has a minimum target of 5% sustained, sustainable and inclusive economic growth by 2030 set as one of its goal. Consequently, building a comprehensive database of MSMEs is one of the priorities for the CREAD, as it seeks to improve strategic and sustainable planning for the sector.
Elijah Leblanc, CREAD’s MSME Business Advisor has spearheaded the creation of a database of MSME’s which currently numbers over 8000, along with an in-depth MSME Database Project Survey which will seek to gather critical data on Dominica’s MSME’s, which can serve as an important tool in providing targeted interventions to benefit the sector.
This important initiative will support the revitalization of MSME’s, which have been heavily impacted by Tropical Storm Erika, Hurricane Maria and now the COVID-19 crisis. It is intended to provide analytical tools for assessing and enhancing the performance of MSMEs, mobilizing support for the sector in terms of increased capabilities, access to finance, and providing an improved structure.
The success of this project is highly reliant on the participation of as many MSMEs as possible completing the survey with accurate and honest information. “CREAD would like to encourage all businesses to get on board and help us to help you,” concluded Leblanc, who added that this is one of several initiatives being undertaken by CREAD to bolster the MSME sector in Dominica.
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