Small Enterprise Development Unit

The Small Enterprise Development Unit (SEDU) was established in the Ministry of Commerce, Industry and Consumer Affairs in 1994 with the mandate to facilitate the sustainable development of the micro and small business sectors.  To that end, SEDU provides guidance, technical assistance and training to existing and prospective entrepreneurs.

Micro and Small businesses have the potential to create and expand employment opportunities, develop entrepreneurial skills, enhance market opportunities, encourage export promotion and import substitution. Recognizing the important role this sector plays in contributing to the social and economic development of the country, SEDU was established. It was first funded by contributions from the Government of Saint Lucia (GOSL), the United Nations Development Programme(UNDP) and the International Labour Organization (ILO)however the total financing of  the operations of the Unit is by the Government of Saint Lucia.

The Micro & Small Scale Business Enterprise Act #19, 1998 (amended December 2001) is what guides the operations of The Small Enterprise Development Unit (SEDU)

As defined by the Act:        Micro & Small Business

A  Micro business

a.       Employment: maximum of five (5) persons

b.      Asset base: $75,000.00

c.       Sales (annual turnover): not more than $100,000.000

A  Small business:

a.       Employment: maximum fifty (50) persons

b.      Asset base: $500.000.00

c.       Sales: not more than $1,000,000.000

The act seeks to do the following among other things:

• Establish the authority of SEDU
• Define Small and Micro Businesses
• Establish a register for Small Business
• Provide relief for Small Businesses
• Establish reporting by Small Businesses

The Small Enterprise Development Unit's Work Programmes are designed to fulfill the Strategic Agenda items of the National Industrial Policy (NIP)

National Industrial Policy (NIP)

This is the first Industrial Policy for St Lucia which will operate in tandem with, and be influenced by a number of other Government policies and institutions. These are relevant and necessary to create a supportive environment for the development and growth of competitive private sector businesses. Trade policy is a prime example.

In addition to membership of the WTO and the Lomé Convention, St Lucia is signatory to  many regional trade agreements offering preferential access to markets in the wider Caribbean as well as North and South America. This will operate as a driver for gradual liberalisation of St Lucia's own trade policies and procedures. The government recognizes however, that the pace of such liberalization needs to strike a careful balance between the need to fulfill its obligations, the need for genuine reciprocity by other countries and the need for its own industry to prepare to respond to new opportunities.

National Industrial Policy Strategies

• Investment promotion and facilitation
• Micro and small business development
• Improved access to  finance
• Import liberalization
• Export development
• Human Resource Development
• Technical production and  competitiveness

Services

These services are opened to all legal micro and small existing and potential businesses.

1. Entrepreneurial Development
2. Access to Finance
3. Market and Product Development
4. Advocacy

 1        Entrepreneurial Development

•   Monitoring and Extension Services
  • Site visits
•   Management & Advisory Services
•   Business Development  Training  Courses

These programs are designed to assist and introduce current and prospective business owners to acquire the knowledge required to manage their businesses more effectively and efficiently.  

• Peachtree Accounting 
• Marketing
• Cost Estimating for Small Contractors
• Strategic Alliance
• Financial Management
• Small Business Management
• Basic Project Management for Small Contractors

 2        Access to Finance 

• Referrals to appropriate Financial Institutions
• Business / Marketing Plan Development

3        Market and Product Development 

• Sourcing of equipment, packaging and labels
• Exhibitions
• Documentation
• Process Development

4        Advocacy

•   Coordinating & Networking : Business Organizations
•   SLBS intervention where necessary
•   Other Ministries Interventions
•   Technical Reports
•   Business Name Registration
•   Business Incorporation
•   Duty Free Concessions

Please send all queries to sedu@gosl.gov.lc