Wednesday, 13thNovember 2014 – The Bahamas Agricultural and Industrial Corporation (BAIC) in keeping with its mandate of creating and expanding opportunities for Bahamians to participate in the economic development of the Bahamas, the Corporation highlighted one of its success stories of 2014. Through the corporation’s Business Advisory and Project Planning Division led by Sr. Manager Lester Stuart, BAIC assisted Bahamian Businessman Larry Farrington, President of Superior Manufacturing, with securing approved funding from the Bahamas Venture Capital Fund, just two months following crafting of a business plan by BAIC.
Business plans written by BAIC are forwarded to The Venture Capital Fund or any other lending financial institution for consideration. BAIC assists in crafting a business plan, developing profiles and proposals, site visits, business coaching, marketing/cost analysis, research, and providing financial liaison services. The Venture Capital Fund assists with the launching of creative and innovate projects that diversify the economy, and are assessed as feasible, sustainable and potentially profitable.
Mr. Farrington was extremely grateful and generous with his accolades for BAIC. He was elated to have received the various approvals from The Venture Fund, which will allowed him to take his business to the next level. BAIC continues to expand to enable its operation to assist many more Bahamians in becoming entrepreneurs with their business ideas.