British Virgin Islands

Monday, Nov 30, 2020

18 businesses to find homes in phase one of D5 Economic Zone

Minister for Works, Transportation and Utilities, Hon Kye M. Rymer (R5) has indicated that in the first phase of the Fifth District Economic Zone development in Huntums Ghut, the government will be constructing three commercial warehouses, each able to accommodate a number of businesses.

Speaking at the groundbreaking ceremony in Huntums Ghut on October 19, 2020, Hon Rymer said the warehouses will be able to accommodate 6 businesses each, for a total of 18 businesses to be housed in the first phase of the zone, providing new opportunities to entrepreneurs.

“Applicants will have to develop a business plan which will be used for the selection process. We will work closely with the Department of Trade to offer assistance to bring your dreams to reality. Starting a business is much more than the space in which you will operate, much more than the brick and mortar,” Hon Rymer said.

He reminded prospective entrepreneurs that opening a business is not an easy feat either, rather one that requires a number of steps, such as pinpointing and providing a needed service for the community, the need for manpower and other resources like accounting, marketing, financing and so much more.

Small fee to use business facility – Hon Rymer


“Your Government is providing a stepping stone for you to make your entrepreneurial dreams a reality,” Hon Rymer affirmed, noting that successful applicants will be required to pay a small user’s fee that will go towards the upkeep of the facilities.

He said the idea for the economic zone was birthed from the concept of the Palm Gove Shopping Centre, where Virgin Islanders were able to operate their own businesses at a fraction of the market value and the market operating costs.

“The dream is that these businesses will blossom and they will outgrow these spaces. As they spread their wings and move to bigger accommodation elsewhere, room will be created for new entrepreneurs to move in and also birth their small business idea,” he said.

Newsletter

Quote of the Day

The secret to successful hiring is this: look for the people who want to change the world.

Marc Benioff
Related Articles

British Virgin Islands
×