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Cox pumps up entrepreneurs

Finance Minister Paula Cox last night told people gathered for a small business networking reception that Government is working with the Island?s banks to help entrepreneurs get access to the cash they need.

Speaking at the Small Business Development Corporation?s Networking Cocktail Reception at the Number One Shed, Ms Cox told dozens of applauding people: ?While I promise to keep my remarks short ? and in keeping with the season ? I do look forward to the time that you look forward to the budget day as much as you look forward to Christmas!?

Abandoning her written notes, Ms Cox said she sensed a ?buzz? from the crowd at their opportunity to meet other small business owners to exchange ideas and make contacts.

?It?s been a positive night. There?s been a buzz that?s escalated since I?ve been here,? she said, before promising ?in the fullness of time? that her Ministry?s role in the Progressive Labour Party?s ?Social Agenda? would be revealed.

Citing statistics based on a survey from the SBDC provided by Finance Permanent Secretary Donald Scott ? Ms Cox said 75 percent of small business owners promote their business or market their services through word of mouth.

?So tonight?s session has the potential to add real value in commercial terms. I will therefore be brief so you can get on with the real business of the evening,? she said, but added to laughter around the room: ?Often the refrain one hears is ?where is the money!?.

?Entrepreneurs often need to embark on the great money hunt. Financing is the lifeblood for small firms but how do you know how much you need and where can you go to get it.

?Our job in the Ministry of Finance is to offer a road map as to where the money is and how one can seek to get access to it.?

Ms Cox concluded by telling small business owners they have a voice and conduit through the SBDC, but added: ?You have access to me through the Small Business Development Corporation, but it is also true that you have access directly to the Ministry.