BusinessGrenada.com Issue: 5 2010 - 2011 | Page 30

Business Facilitation Agencies Other Business n addition to the Grenada Industrial Development Corporation (GIDC), there are several other organizations that may be of help in planning and starting a new business in Grenada. These include: The National Development Foundation The Foundation provides training, credit, technical assistance and business guidance to Micro & small businesses , with particular emphasis on : • Manufacturing • Agriculture • Service industries • Fishing • Retailing Grenada Development Bank Small Enterprise Development Unit (SEDU) Provides management, technical and ancillary services to existing and proposed businesses. The unit is staffed by professional business counselors and where required can offer the services of local, regional and international experts in different fields. I Services offered include: • Identification of potential projects • Assistance in obtaining financing • Assistance with marketing • Sourcing of machinery, raw materials and supplies The unit was formed through co-operation between the Government of Grenada, the United Nations Development Program (UNDP) and the International Labour Organization. Grenada Bureau of Standards The bureau is part of the Ministry of Trade & Industry and its role is to : • Encourage standardization in commerce and trade • Encourage manufacturers to provide quality products • Safeguard the nation against the ‘dumping’ of inferior goods • Prepare National Standards • Provide testing and calibration of precision instruments • Offer technological advice and consultancy services Economic Affairs Unit The unit is based within the Trade & Industry Section of the Ministry of Finance and its function is the promotion and development of export goods and services from Grenada. It works closely with the Grenada Chamber of Industry and Commerce, the National Marketing and Import Board (MNIB), and the Grenada Trade Centre. Grenada Authority for the Regulation of Financial Institutions (GARFIN) Serves to strengthen the supervision of the non bank financial sector, including the insurance sector, cooperatives, offshore financial services, and money remitters. The government enacted the Grenada Authority for the Regulation of Financial Institutions (GARFIN) Act in May 2006. The Eastern Caribbean Central Bank (ECCB) has responsibility for the supervision of domestic banks, and will continue to do so. Grenada Board of Tourism The Grenada Board of Tourism is the statutory body 30 www.businessgrenada.com