Dominica: The Climate Resilience Execution Agency for Dominica – (CREAD) has planned to create a comprehensive database that will be proven beneficial for more than 8,000 small businesses.
CREAD aims to improve strategic and sustainable planning for the sector. This initiative by CREAD holds great significance as it will assist in recognizing the importance of formalizing micro, small and medium enterprises (MSME) within the context of the Climate Resilience and Recovery Plan (CRRP) of Dominica.
MSME Business Advisor of CREAD – Elijah Leblanc, began creating the database along with an in-depth MSME Database Project Survey. This will help to gather essential data on Dominica’s MSME’s, which can be proven as a fruitful tool in providing targeted interventions to benefit the sector.
Despite this, this initiative will also assist in revitalizing MSME’s that Tropical Storm Erika, Hurricane Maria and the COVID-19 outbreak has severely impacted.
The Climate Agency cited that, “Micro, small and medium enterprises (MSME) of Dominica are one of the key drivers of economic growth while contributing to productivity, employment and innovation; therefore, the Climate Resilience Execution Agency for Dominica (CREAD) must encourage and strengthen the resilience of a sector which contributes significantly to the country’s GDP.”
Leblanc emphasized that CREAD is encouraging all businesses to get on board and help the agency so that it can further assist them. This is one of the numerous initiatives that CREAD has undertaken to sustain the MSME sector in Dominica.
As per the authorities of CREAD, the success of this project relies on the participation of as many MSME’s as possible completing the survey with accurate and honest information, and it intends to produce analytical tools for assessing and magnifying the performance of MSMEs, mobilizing support for the sector in phases of increased capabilities, access to finance, and providing an upgraded structure.