The Bermuda Economic Development Corporation is launching ByBermuda 2.0, the revamped online marketplace, in conjunction with Global Entrepreneurship Week celebrations.

The platform helps small businesses and entrepreneurs sell their products and services in the digital realm.

The BEDC subsidises vendors' costs to list and utilise the ByBermuda platform during its initial phase, allowing entrepreneurs to benefit with online sales, but with the reduced cost of having a digital presence.

Erica Smith, executive director of BEDC, said they were reaching out to small business owners who had no website.

They see it as an important opportunity to support new vendors and small businesses, fostering a thriving virtual marketplace within the local community.

The organisation said: “ByBermuda offers a virtual haven for local retailers, service providers and vendors to engage with customers, even during these challenging times.

“It simplifies transitioning your business into the online world, ensuring accessibility for small businesses.”

Partnering with local entrepreneur, Kimwana Eve, founder of Hey Lookie Lookie small business directory, the BEDC said it looked forward to helping to involve as many small businesses as possible.

The organisation said that small businesses could become a vendor on ByBermuda by registering as a BEDC member and then signing up.

Jache Adams, the BEDC chairman, said: "Bermuda's Economic Recovery Plan pledged to deliver an online SME marketplace that would grant entrepreneurs easy access to sell their goods and services online.

“In Bermuda, the costs associated with establishing an online presence can be a significant barrier.

“Consequently, the Government of Bermuda entrusted BEDC with creating an online platform to eliminate this obstacle.

“We are delighted that ByBermuda 2.0 is relaunching just in time for the holiday season and we urge vendors and small businesses to register with BEDC and sign up for the platform."