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Medium-sized business get guidance from BEDC, KPMG

KPMG managing director Craig Bridgewater

More than 40 local business owners and executives gathered this week to discuss the issues they’re at the medium sized business forum hosted by KPMG and the Bermuda Economic Development Corporation (BEDC).The goal of the interactive forum was to introduce the BEDC’s new medium-sized business initiatives and discuss topics relevant to those companies.Attendees were guided through interactive presentations from BEDC executive director, Michelle Khaldun and KPMG managing directors, Steve Woodward and Craig Bridgewater.Mr Woodward utilised international survey findings to highlight some of the issues that many family businesses here in Bermuda face. And Mr Bridgewater summarised the five key areas in need of attention highlighted by the Bermudian medium-sized business survey: managing through the economic downturn, representation of the sector on economic policy matters, business succession and transition planning, identifying growth opportunities, and supporting expansion and human resource strategies to recruit and retain staff.After the presentations, attendees broke out into groups to gather feedback on each of the five key topics. KPMG is now consolidating the attendees’ feedback to assist the BEDC in the planning and roll out of business support initiatives to address some of the challenges facing the medium sized business sector. KPMG says the feedback received is positive with one attendee saying he is “hopeful despite the economy” and is looking forward to seeing what comes out of the forum.Minister of Economy, Trade and Industry, Patrice Minors gave the welcoming address and was present for the dialogue and feedback portion of the forum.“This forum is a positive example of the public-private partnership work being done to encourage the expansion of the economy through entrepreneurial activity and in particular to ensure that locally owned medium sized Bermudian companies are consulted and provided with the support to sustain and plan for growth during a challenged economic period,” Ms Minors said.Ms Minors praised the forum, calling it a continued effort on the part of the BEDC to offer support to small businesses island wide.“The entire medium-sized business sector is key to the country’s economic growth and increased employment opportunities for Bermuda,” she said.