1 million dollars to be added venture capital fund to be operated by the Entrepreneurial Development Program

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CABINET NOTES

The Cabinet has raised $1,000,000.00 to add to a venture capital fund to be operated by the Entrepreneurial Development Program (EDP).

A significant portion of the fund was contributed by the Peoples Republic of China and the other portion will come from the Citizenship by Investment Program.

Any funds utilized by entrepreneurs must sooner or later be repaid; or, if utilized for a venture capital enterprise with the EDP as partner, the shares can be sold to the EDP in order to reduce the businesses’ liability.

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7 COMMENTS

  1. We need Venture Capital not Loans. Loans burden the Liability of the business, and the repayment and interest are a burden as well on the cash flow. If the EDP after having done the feasibility study, believes in the venture of the business, they should take an equity stake and count on future dividend payments to get returns on their investment. As a shareholder they will automatically get involved in the decision making and can steer the business in the right direction through directorship. I applaud this decision from the Cabinet.

  2. I wish one day our banks will start Venture Capital companies as part of their business model. That way they will entice customers to not only put their monies in savings accounts and receiving low interest of 2%, but attempt to go on some more risky adventures with the professional guidance of the bank. Antiguans need to get their feet wet in this industry and start creating wealth through investment in these promising companies. With inflation at a rate of 7% and only getting 2% on your savings you are losing 5% in value every year your money just sits in the bank.

  3. … but also remember folks, that venture capitalists can be like “monetary” vultures and scoop-up the likkle that the poor man have and then take it away.

    I predict that 2023 will be the year for the survival of the fittest; in trying to hold onto your home, your finances and small businesses!

    And if you have a partner who enjoys the finer things of life … LOOK OUT! 😁

    • fuel prices is going up very soon… residential foreclosures have already begun… just ask the family in all saints village that lost their board house.

  4. Gas-Man Browne,give the monies to SHARE,INC. Do you think we then know,a way de money garne. What has become of the so called Laundromat,formerly known as SHARE,INC. Is it still in existence buying up properties in the Lower North Street Areas of Point.

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