By ieyenews
Copyright ieyenews
Grand Cayman, 1 October 2025 – The Cayman Islands Centre for Business Development (CICBD) will lead the development of a comprehensive, data-driven small business policy to better support micro, small, and medium-sized enterprises (MSMEs), with financial support from the Caribbean Development Bank (CDB).
During the policy development process, regional expertise and technical resources will be incorporated and there will be a focus on services and programmes that can meet MSME needs.
Eligible individuals are encouraged to submit Expressions of Interest (EOI) via this link indicating qualifications and experience required to provide the consultancy services. The deadline for submissions is 10 October 2025.
MSME owners and operators will be invited to participate in the development of the draft policy through interviews, surveys and focus groups designed to determine gaps and identify best practices.
CICBD Director Thais Ducent said the project supports the Government’s goal to enhance Cayman’s entrepreneurial environment.
“Government intends to create the right conditions for Caymanian entrepreneurs to thrive by reducing barriers, improving access to financing and building resilience so they can continue contributing meaningfully to job creation, innovation, and economic diversification,” she said.
Among other project deliverables, the evidence-based policy framework will outline how to:
* strengthen the business support ecosystem; * encourage broader participation in our economy, including by women, youth and non-traditional industries; * improve business confidence and investment; and * provide a platform for continued engagement between policymakers and entrepreneurs.
CDB’s Division Chief, Private Sector, Lisa Harding emphasised the Bank’s commitment to inclusive growth.
“CDB is proud to support this initiative, which aligns with our broader strategy to boost competitiveness, build resilience among MSMEs, and contribute to sustainable national development. Addressing challenges faced by small businesses is key to economic diversification and fostering a thriving entrepreneurial ecosystem.”
