Technical Assistance

In pursuance of our mission, EGFL recognises that it takes more than a simple financial injection to enable a business to realise its full potential. As an emerging enterprise develops, it is likely to encounter some difficulties which, if not resolved quickly can stifle its development and eventually lead to its demise. We are also aware that several potentially viable businesses have failed, not primarily because of a lack of funding, but more so due to glaring weaknesses in their operations and management structures. It is in this context that EGFL has made a strategic decision to allocate a pool of resources to fund the Technical Assistance needs of its portfolio clients. The provisions contained herein will serve as a guideline for those portfolio clients who may wish at some stage to access Technical Assistance to overcome difficulties being encountered in the operation of their businesses.

Investee companies can receive technical assistance up to a maximum of $70,000 over the life of the investment. Technical assistance can be provided in the following areas:

  • Finance
  • Technology Transfer
  • Production
  • Marketing
  • Training
  • Information Technology

For further information please refer to our Technical Assistance Guidelines

Individuals who would like assistance in the preparation of business plans should contact the Barbados Investment and Development Corporation (BIDC). The BIDC, which has a mandate to act as a catalyst for the establishment of businesses in Barbados and for stimulating exports from Barbados, does more than assist with business plans. Technical assistance and other forms of support are offered in a variety of areas, including innovation support and mentorship and incubator programmes. Eligible applicants can access these services as they seek to enhance their competitiveness locally, regionally and internationally.