The Organisation of Eastern Caribbean States (OECS) Commission, through the World Bank–funded Unleashing the Blue Economy of the Caribbean (UBEC) project, successfully hosted two (2) impactful Business Development Services (BDS) Information Sessions in Grenada, targeting Micro, Small, and Medium-sized Enterprises (MSMEs) in the blue economy.
The in-person session was held on Tuesday, July 29, 2025, at the Madonna Harford Conference Room at the Grenada Public Workers Union in Tanteen, St. George’s, while the virtual session took place via Zoom on Thursday, July 31, 2025. Both sessions attracted strong participation from MSMEs involved in fisheries, marine tourism, and waste management, offering valuable insights into the Regional MSME Matching Grants Programme and the Business Development Services that will be rolled out in the coming weeks. Business Development Services Consultant, Dr. Jeanelle Murray led the information sessions and engaged numerous MSMEs, eager to elevate their businesses. She disclosed what MSMEs can expect to gain from the Business Development Services.
“Coming off the business diagnostic assessment, we will understand more about the businesses,what their strengths and weaknesses are, where their gaps lie, what needs they may have and then we will be able to develop a group training and capacity building programme. We are aiming to try and close those gaps. We will address areas such as recordkeeping, costing and pricing, grant proposal writing, business plan development and so on,”
The Business Development Services will be made available in the coming weeks starting with one-on-one diagnostic assessments of participating MSMEs to identify business gaps and design appropriate training and technical support.
These services are tailored to strengthen the competitiveness and operational capacity of blue economy businesses. For example:
- A fish processor and vendor can benefit from training in product packaging, costing, and food safety standards.
- A dive tour operator may receive support in business continuity planning and digital marketing.
- A waste recycling enterprise could access guidance in financial management and grant proposal development.
The sessions not only provided an overview of the UBEC Regional MSME Matching Grants, which offer up to USD 25,000 for individual businesses and up to USD 150,000 for value chain groups, but also included information on the Business Development Services available to help MSMEs become more competitive and application-ready.
The OECS Commission and the UBEC Grenada project team express their sincere thanks to all attendees of both sessions. Your participation marks a crucial step toward building a more inclusive, innovative, and resilient blue economy.
MSMEs who attended the sessions are strongly encouraged to take full advantage of the upcoming Business Development Services. These are not only designed to boost eligibility for the Matching Grants Programme but to lay a stronger foundation for long-term business growth and sustainability.
💡 What is the Regional MSME Matching Grant Programme?
The Regional MSME Matching Grant Programme is a flagship UBEC initiative that provides financial support and business development assistance to MSMEs in the blue economy.
- Individual MSMEs may access grants ranging from USD $5,000 to $25,000 (Window 1)
- Groups or value-chain partnerships may access between USD $100,000 to $150,000 (Window 2)
The grants are non-repayable and are designed to boost productivity, sustainability, innovation, and resilience.
🌊 What is the Blue Economy in the Caribbean?
The Blue Economy refers to the sustainable use of ocean and coastal resources for economic growth, improved livelihoods, and environmental health. In the Caribbean, this includes sectors such as:
- Fisheries and aquaculture
- Marine and coastal tourism
- Sustainable marine transport
- Waste management and recycling linked to ocean conservation
UBEC supports a transition to a blue economy by promoting inclusive economic development while ensuring that marine ecosystems are preserved and sustainably managed.