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Last Updated: Aug 28, 2019 - 3:36:19 PM |
L to R - Davinia Blair, SBDC Executive Director; Kevin Darling, RBC Vice President Business Banking; Nicholas Higgs, SBDC Senior Business Analyst.
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RBC Royal Bank’s (RBC) partnership with the Access Accelerator, Small Business Development Center (SBDC) has bolstered successful results for entrepreneurs before and after funding.
Six months after partnering with the SBDC, RBC has financially invested in six clients to advance their businesses. Recently the bank granted funding to Cheryl's Taxi, a taxi and tour company started in the early '80s by Cheryl Cambridge. They also approved 22-year-old Benjamin Davis, owner of Drive Green Rentals. The recent UB graduate who started an electric car rental company received financial investments in May. Mr Davis also participated at RBC’s recent Home & Renewable Energy Expo which offered helpful solutions to some pressing questions on renewable energy.
Executive Director of the SBDC, Davinia Blair, said that RBC’s support of the organization goes beyond financial assistance.
“We are grateful to all of our partners who continuously work with the SBDC to assist entrepreneurs. In the case of RBC they have decided to go beyond just funding,” said Blair. “RBC has also stepped in to help our entrepreneurs prepare for what is possibly one of the most important, nerve-wracking days of their lives.”
Blair continued, “I don’t think people understand how hard it is to pitch your business to financial institutions. There’s a lot of the decision-making process that comes down to the numbers and how feasible each company is. However, all of it rests upon the business owner’s ability to sell their product or service with a limited amount of time to do it in.
“RBC understood the challenge, stepped in and to date has prepared over 15 clients for pitching through RBC Pitch Nights at Venture Coworking. The monthly event includes feedback from actual RBC executives who are present in the room. It gives you a real pitch experience.”
Participants of the RBC Pitch Night credited the expert feedback for opening their eyes to strengths and weaknesses in their presentation and giving them much food for thought.
Moses Taylor, CEO and Founder of Red Sea Bahamas, described his RBC Pitch Night experience as informative, educational and beneficial.
“Pitch Night is informative, especially for people looking for funding. You learn questions that investors may have or queries that people may have about your company," said the 21-year-old entrepreneur. “It’s a great way for you to get better at pitching and still receive positive feedback at the end of the night.”
Blair hopes for continued partnerships between banks and organization as this is just the beginning of the work needed to be done to help Bahamian micro, small and medium-sized enterprises (MSMEs).
Kevin Darling, RBC’s Vice President Business Banking has been in the front row listening, sharing and cheering these individuals on their courage and commitment to see what is possible.
“At RBC, our goal is to help our clients thrive and communities prosper. That informs everything we do and it’s why we are proud to give back through partnerships like the one we have with the SBDC,” remarked Mr Darling. “Entrepreneurs and small business owners are shaping the new economy and it’s important to everyone that good ideas are allowed to take shape, to grow, and to flourish. That requires time, commitment, and effort from various stakeholders – from governments, corporations, philanthropists, and yes, banks.
"The SBDC will celebrate its first anniversary in September, so we are still very young. While we’ve had many successes, there is much to be done in assisting and advocating for Bahamian entrepreneurs. Our financial partners, such as RBC are driven by a passion for helping communities to grow and be sustainable. Through partnering with the Access Accelerator, we see that happening. I hope to build on these relationships and together do the work to support and give Bahamians access to what they require to succeed."
The SBDC is the product of a tripartite arrangement between the Government, through the Ministry of Finance, University of The Bahamas (UB) and the Bahamas Chamber of Commerce and Employer's Confederation (BCCEC). The Centre will work to guide the development, funding, growth, and evolution of Micro, Small and Medium-sized Enterprises ("MSMEs") in The Bahamas.
© Copyright 2019 by thebahamasweekly.com
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