Basseterre, St. Kitts, November 03, 2021 (SKNIS): The announcements coming out of the Creative Forum organized by the Ministry of Entrepreneurship, Entertainment and Talent Development have been met with great support by local entrepreneurs. Minister of Entertainment, the Hon. Akilah Byron-Nisbett indicated that financing, development of regulations, and a number of other incentives will soon be available for local creators and innovators.
“Even before the pandemic, financing creative businesses was a challenge. We have identified funding as a primary barrier to the creative sector and we have embarked on a number of initiatives that will improve your access to funding…These initiatives include the Eastern Caribbean Partial Credit Guarantee Cooperation which will be able to provide guarantee loans. We have been having conversations with a number of angel investors who recognize the value of the creative sector, so through our Ministry, you will be able to apply for interest-free loans of up to $30,000 XCD. Through our continuing partnerships MoENT can connect you with financing to take your business forward,” said Minister Byron-Nisbett on ‘Leadership Matters’ on November 2, 2021.
Another key pillar in the MoENT development strategy is enhancing and removing regulatory barriers that hinder creators. The Ministry will seek to optimize the legal and regulatory environment to provide the foundational pillars for a thriving industry. Through collaboration with other government ministries, MoENT will deliver hassle-free approval for mass gatherings, assist with duty-free or reduce waivers for creative items, and enforce legal protection for the intellectual property of creatives.
“We sat down with persons who are in this room and they would have made recommendations to us. We had members from the Carnival Committee along with other promoters present at those meetings where we put those recommendations together. We actually engaged with persons within the entertainment industry and got their input as well. One of the things we want to do as well is to ask persons to come into our Ministry and sign up with us let us know that your event is coming up and we can get a liaison officer who would help you to smoothly navigate all the areas of government you would need assistance with,” said Minister Byron-Nisbett.
Minister Byron-Nisbett also announced a partnership with The Cable to provide high-quality internet service to creators and entrepreneurs at a reduced cost, while also stating that discussions are ongoing with development and international broadcast television channel that would only highlight local production and talent. MoENT has committed to providing substantial support to entrepreneurs and content creators moving forward and urged persons to visit the ministry to learn about other benefits.