Scotiabank BVI Limited dubbed the year 2012 as the year of the Small Business and Managing Director, Joycelyn Murraine announced at a recent press briefing that the bank rolled out many initiatives during the year to assist entrepreneurs and small companies.
She said: ?This year our interest is small businesses and SME?s. There is a huge system here in the VI where small business owners and entrepreneurs can get capital the way they would want, and have full potential to grow it.?
Murraine explained that during the year Scotiabank developed a tool which would help small business persons. She said that the institution also developed and launched a product named the Scotia Professional Plan (SPP)?under their small business portfolio.
In explaining the SPP tool, Murraine stated: ?It (SPP) catered to professionals ? the dentists, the architects the doctors and so forth and what that does is give reduced and discounted services. So for instance if one of those professionals come for a mortgage we are going to give them an interest rate reduction. We are going to give them a reduction of our safety deposit box, and night depository. We are going to introduce them to cash management services so that they don?t stay in the line.?
She added: ?Not only are the fees being discounted, but we are having regular educational training of how they can grow their business. We have been innovative in doing this, you know you have to creep before you can walk. This has been on the back burner for the past three years. It is not just the BVI alone, small business is the overall 2013 regional Scotiabank initiative. If you go to Antigua, Jamaica, wherever you go you will find that we are focusing on small business.?
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Source: http://bvinews.com/bvi/2012-year-of-the-small-business-scotiabank-bvi/
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