Business Centre Corporation (BCC) has revealed it has provided consultancy and assistance to over 6,000 local businesses since commencing operations in 2019.
BCC was established in 2017 under the Ministry of Economic Development, with the mandate of operating business centres in different regions, but began operations in 2019. There are currently 13 business centres across the country, tasked with implementing the government’s policies to promote and assist Small and Medium Enterprises (SMEs).
Speaking to PSM News, Director of Authentic Maldives Mohamed Jaushan said BCC has provided assistance at different levels to over 6,000 businesses since its inception three years ago. Authentic Maldives is an initiative by BCC to promote the sale of local products. He said the certified consultants at business centres provide valuable services to assist SMEs in formulating promotional material, providing financial assistance, and evaluating the product-market fit. He noted that new SMEs face challenges in handling the various aspects of their work and starting their business. He said that consultants assist these businesses in various matters such as obtaining loans by helping them prepare proposals to submit to the SME Development Finance Corporation (SDFC) or other banks.
BCC stated that SMEs can request for consultancy through its official website. BCC does not charge any fees for the consultancy services provided for SMEs. The service is provided by all 13 business centres in the atolls and the head office of BCC in Male’ City.