Owners of small businesses can make their dreams a reality with the help of Michelle Khaldun, general manager of the Bermuda Small Business Development Corporation (BSBDC).

In July Ms Khaldun returned to the helm of the BSBDC where she served from 1993-1997. It was there that she learned the value of team work, she said.

?In January 2006 we will gather with the staff of the BSBDC to build a strategic plan for the next five years.?

?I will work with others to build a vision for the future development of the BSBDC. I can bring my passion and experience to the job but we must do it together.?

BSBDC assistant general manager Lucrecia Ming said that because the BSBDC is asking new businesses to formulate standard business plans, the banks have been more inclined to provide access to capital.

?The bank?s have seen that while this is a difficult sector to lend to, it?s a vital sector and the Bank of Bermuda have set up a small unit to lend to small businesses,? Ms Khaldun said.

?We will also make sure these businesses don?t get in over their heads because if you don?t have a plan you could sink.?

?The Corporation is a very powerful organisation with a small number of highly motivated and committed staff but we can achieve so much more,? Ms Khaldun said.

?There are sectors in the small business community that have felt disenfranchised and some of that feeling is still there. But the Corporation and the bank?s have worked with small businesses to give them the advice and assistance they need.?

?The banks also provide access to capital through the loan guarantee programme which has worked well over the past 20 years.?

Recently the Corporation has introduced the creation of Outside Vendor Markets and Business Service Incubators for small construction contractors.

BSBDC is also working with Government and the Uptown Market Association in developing North Hamilton as the Government?s first Economic Empowerment Zone.

Ms Khaldun said the BSBDC will continue to provide private consultations and work with schools to introduce young people to entrepreneurship.

The Corporation will also continue with the Quarterly Seminars on areas such as marketing, starting a new business, managing cash flows and financial statement analysis.

Ms Ming said a successful entrepreneur will have a vision and design a business with potential synergies with other sectors and network with others to build relationships. ?The power of networking is fundamental as you need to connect with architects, quantity surveyors and other organisations or other businesses,? Ms Ming said.