Seventy People Attend Vending Market Seminar
More than 70 entrepreneurs attended the Bermuda Economic Development Corporation’s [BEDC] recently held seminar on Vending Market Development Opportunities, held at the Cathedral Hall on Wednesday.
The forum was aimed at assisting vendors with taking advantage of new and existing vendor market development opportunities, BEDC’s soon-to-be-advertised Request for Vendor Market Development Proposals, and BEDC’s products and services.
Seminar participants were given the opportunity to provide critical island-wide vendor market development feedback throughout the informative 2-hour session.
Seminar presenters were Lucinda Worrell-Stowe, Anthony Richardson, Marcus Wade, Raymond Lambert and Erica Smith. William Spriggs, BEDC’s Economic and Cooperative Development Director was the seminar moderator.
Lucinda Worrell-Stowe, Chairperson for The Bermuda Farmers’ Market at the Botanical Gardens, has seen the evolvement of this vendor market over the years since it started in 2002.
The market has 54 registered vendors, utilizes two buildings and outdoor space at the Botanical Gardens and operates from 8am to 1pm on Saturdays only, offering fresh produce, baked goods, and a variety of crafts and jewellery. The market’s theme is, “Homemade, handmade and homegrown.”
Anthony Richardson, Chief Financial Officer for the Bermuda Land Development Company [BLDC], also presented at the seminar and encouraged the audience to take advantage of vending opportunities at markets as well as special occasion events.
He went on to comment, “Bermuda’s challenge is to enhance the visitor experience by providing realistic alternatives to the extremely busy and volume driven Horseshoe Bay. Daniel’s Head in Somerset and Clearwater Beach, both BLDC managed properties, are open for business and the BLDC invites all interested parties to contact our offices as we plan for the 2018 summer season.”
Marcus Wade, Acting Assistant Park Planner for the Department of Parks, provided attendees with key information pertaining to The Bermuda National Parks Act. He expounded on the potential commercial activity beach and parkland locations and the application process to apply for commercial activity that falls under leased, licensed, and permitted commercial activity.
Vendors present realized that branding, advertising and presentation of merchandise were all very important for business development.
Raymond Lambert, BEDC’s St. George’s Economic Development Officer, presented the history of the vendor market in St. George’s, its challenges, opportunities and how it has evolved by partnering with other events.
He said, “The market needs to evolve again. There is a new committee forming but a variety of support is required; BEDC is open to assist and support other ideas for fresh, vibrant markets in St. George’s.”
Erica Smith, BEDC’s Executive Director, relayed to the audience insightful guidelines to consider in respect to BEDC’s forthcoming Vendor Market Development Request for Proposal [RFP].
She also advised the audience on three of BEDC’s financial products, namely, the Loan Guarantee Scheme, Small Business Microloan, and the Customs Letter of Credit. She also spoke to incentive products for those who wish to create vending businesses in its 3 Economic Empowerment Zones.
The BEDC said, “Exciting upcoming events that vendors and the public should note are: Bermuda Start Up Challenge 2018 to be held March 16th to 18th, The St. George’s Marine Expo on April 8th, and The Bermy Vendy’s Awards for Bermuda Vendors. More information can be provided by contacting BEDC’s office.
“For more information on this seminar and our upcoming seminars, please contact BEDC at info@bedc.bm or visit the BEDC website at www.bedc.bm.”
