entrepreneurs, a speaker said on Saturday.

And discussions are ongoing with the banks to find ways to free up capital so that more small operations can get out of the starting blocks.

Bermuda Small Business Development Corporation chairman Craig Christensen made this statement to more than 200 small business owners gathered at the inaugural BSBDC banquet at Pier Six in Hamilton.

Mr. Christensen, a chartered accountant and partner with Arthur Morris, Christensen and Company, explained the trends he had seen over the 16 years since the BSBDC had been established.

He said the BSBDC initially saw the emergence of a number of Portuguese entrepreneurs who went on to become very successful.

Soon afterward they started to see black and white Bermudians starting businesses but what they all had in common was their lack of start-up capital because they were not from wealthy origins.

But each group shared a vision of wanting "independence'' and a desire to "get ahead'' and the achieving of either goal led to greater feelings of self worth earned through struggle.

Mr. Christensen said the lack of access to credit and the requirements for more information on the part of the banks were major stumbling blocks that the small business owner has had to overcome.

Credit call It all came down, he said, to the not always complementary needs of prudent banking versus the development of venture capital. These and other issues, he said, were the subject of ongoing discussions between the BSBDC and the local banks.

Doris Brooks, owner of The Double Dip, received the "I Believe Award'' at the banquet for persevering through a rough period in her business and surviving.

Beau Evans, owner of Coral Sea Cruises, earned the "I Conceive Award'' and Fred Thomas of Thomas Construction and his son Marico Thomas of Four Star Pizza were jointly presented with the "Achievers Award'' for their business success.

BUSINESS BUC