DAIC Meets Small Businesses to Discuss IPOs

by: - September 26, 2019
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Lizra Fabien, DAIC Executive Director

The Dominica Association of Industry and Commerce (DAIC) partnered with the Eastern Caribbean Securities Exchange (ECSE) to hold its Chew On It Luncheon on Wednesday, September 25th, 2019.

The luncheon was designed to be a one-day workshop to focus on initial public offerings or IPOs as a means to fund and grow small businesses.

Registered participants exploring the option of going public and listing on the Eastern Caribbean Securities Exchange.

Executive Director of the DAIC, Lizra Fabien, said this event was organized for the benefit of all members and stakeholders.

“Across all stages of the life cycle of Medium, Small and Medium Enterprises, they require access to appropriate sources of financing for either their creation, survival or growth and this workshop is a catalyst for advancing the growth of all businesses here in Dominica. I hope that from this workshop today, we can realise a broadening of the range of financial instruments in order to the address the diverse needs of our businesses,” Fabien says.

Managing Director of the Eastern Caribbean Securities Exchange, Trevor Blake, says the ECSE as a funding option is under-utilised by small businesses.

“To-date we only have 13 companies across the Eastern Caribbean Currency Union listed on the Exchange, of these 13 companies, even fewer have actually used the market to raise capital- only two have.

“We see this as a significant waste,” he said. “We have one of the best platforms in the entire Caribbean area. It has the capacity to do so much and our peoples are not using it for what it is designed to do. We are hoping with these workshops, and we are doing a number of them across the Eastern Caribbean Currency Union to raise awareness of the capabilities and opportunities of the market for companies to raise capital,” Blake said.