(ZIZ News) The Federation may see the revival of “mom and pop shops”, locally referred to as sideway shops and other small businesses.
This is according to the Honourable Ian Liburd, Minister of Public Infrastructure, Post, Urban Development and Transport.
He said the government is negotiating US $4 million to go towards a Small Business Development Fund.
“We have to ensure the financial health of the fund. So what we’re looking at is to make some of that monies paid out of the fund reimbursable in terms of loans with particular interest,” he said.
He used George Street, Newtown as an example where he said more than 22 businesses have been closed over time and as such, likened the area to a ghost town.
Therefore, the minister said, the government has to find a solution.
“So we have to regenerate the business sector in George Street, Irishtown, Sandy Point, all around the country. The mom and pop shops disappeared. So that Small Business Fund will generate monies for the mom and pop shops local people to have businesses gain in St Kitts-Nevis,” he said.
Last weekend, Minister Liburd accompanied the Federation’s Prime Minister to a town hall meeting with nationals living in Anguilla.