Vendors learn about market opportunities
A vendor market development request for proposal is on the way from the Bermuda Economic Development Corporation.
Before the details are released, about 70 entrepreneurs took advantage of a BEDC-hosted summit to pick up advice and tips on aspects of being a successful vendor, together with the opportunity to provide “critical island-wide vendor market development feedback”.
The feedback will be used by the BLDC to improve its vendor product and service delivery.
Among the presenters at the two-hour event was Lucinda Worrell-Stowe, chairwoman for The Bermuda Farmers’ Market at the Botanical Gardens The farmers’ market started in 2002 and now has 54 registered vendors. It uses two buildings and outdoor space at the Botanical Gardens and operates from 8am to 1pm on Saturdays. The market’s theme is “homemade, handmade and home-grown”, and it offers fresh produce, baked goods, and a variety of crafts and jewellery.
Another presenter was Anthony Richardson, chief financial officer for the BLDC. He encouraged the audience to take advantage of vending opportunities at markets as well as special occasion events.
He said: “Bermuda’s challenge is to enhance the visitor experience by providing realistic alternatives to the extremely busy and volume-driven Horseshoe Bay. Daniel’s Head in Somerset and Clearwater Beach, both BLDC-managed properties, are open for business and the BLDC invites all interested parties to contact our offices as we plan for the 2018 summer season.”
Marcus Wade, acting assistant park planner for the Department of Parks, provided attendees with key information pertaining to The Bermuda National Parks Act. He talked about potential commercial activity beach and parkland locations and the application process to apply for commercial activity that falls under leased, licensed, and permitted commercial activity.
Another speaker was Raymond Lambert, BEDC’s St George’s economic development officer. He spoke about the history of the vendor market in the town, its challenges, opportunities and how it has evolved by partnering with other events.
He said: “The market needs to evolve again. There is a new committee forming but a variety of support is required; BEDC is open to assist and support other ideas for fresh, vibrant markets in St George’s.”
Erica Smith, executive director of the BEDC, gave guidelines to consider in respect to a Vendor Market Development Request for Proposal that will soon be released. She also advised the audience on three of BEDC’s financial products, its loan guarantee scheme, small business microloan, and the customs letter of credit.
Attendees were told about events being held during this month and in April. The Bermuda Start Up Challenge starts on Friday and concludes on Sunday, while the St George’s Marine Expo takes place on April 8.
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