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The BEDC offers a variety of programmes to encourage development of small businesses in Bermuda.
Vendor Market Programme
Provides an opportunity for budding entrepreneurs and small roadside vendors to gather and sell their wares in a semi-permanent location.
Strengthens the leadership and business acumen of Bermuda’s small construction related businesses.
Economic Empowerment Zone (EEZ) Programme
An EEZ is a designated geographical area where special programmes are implemented in order to relieve hardship or economic disadvantage or to assist disadvantaged persons to achieve equal opportunity. An EEZ is achieved through developing and implementing a system of policies to close the gaps of inequity that exist in certain designated geographical areas in comparison to other areas in Bermuda. The work that takes place in an EEZ is focused on striking a balance between the economic environment (economic equality); the social environment (access to services); the physical environment (high quality design); and the spiritual environment (good quality of life).
Currently there are three zones – North East Hamilton, Somerset, and St. George’s.
Business advice and support is the core of the work that is performed in each of the EEZs. Because of the various socio-economic issues found in concentration in the three zones, BEDC has developed various incentives and policy tools aimed at assisting businesses to grow and become more sustainable. These currently consist of: EEZ Payroll Tax Concession; EEZ Custom Duty Deferment; and Preferential Rates and Terms on BEDC Financial Products.
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