The Access Accelerator Small Business Development Center (SBDC) Bahamas is in search of Business Advisors (Consultants) that are expected to provide consistent advice and monitor MSMEs in all aspects of their business including but not limited to marketing, finance, banking, business administration, management, accounting, and human resources. The Advisor’s goal is to help MSMEs attain efficiency, profitability, and sustainability. Access Accelerator is the result of a partnership between the GoBH through the Ministry of Finance, University of The Bahamas (UB) and the Bahamas Chamber of Commerce and Employers Confederation (BCCEC). It has been assigned as the Execution Agency by the Ministry of Finance to manage the Credit Enhancement Program for MSMEs. Access Accelerator’s mission is to “support the evolution of MSMEs in The Bahamas, maximize the creation of economic impact through strategic partnerships, and – by equipping and empowering MSMEs – increase the ability of our sector to provide employment, create wealth and drive development of a robust and resilient economy.”
Some of the Main Activities include:
- Provide one-on-one advisory services on a needs basis; but at least once per week during the first year of the Post-Funding relationship; at least once per month during the second year and at least once per quarter during the third year;
- Conduct an initial assessment of and introductory meeting with MSMEs once approved by the Access Accelerator Adjudication Committee;
- Collect information about MSMEs through a variety of methods (records, interviews, shadowing, inspections, surveys, reports, website, social media);
- Analyze, interpret, and report data identifying MSMEs internal strengths and weaknesses as well as external opportunities and threats on a continuous basis;
- Assist MSMEs with implementing their business plan and revising the plan on a needs basis;
- Assist MSMEs with developing, documenting and/or revising their sales proposals, policies and procedures, job descriptions, and Employee Handbook; However, MSMEs are responsible for obtaining professional legal counsel when developing, documenting and/or revising legally binding documents such as Sales Agreements or Employment Contracts;
- Assist MSMEs with developing, documenting, and executing sales strategies that diversify revenue streams and exceed gross sales targets on a daily, weekly, monthly and/or yearly basis;
- Assist MSMEs with increasing and improving their online presence and reach through their website, E-commerce platforms and social media;
- Assist MSMEs with setting up their financial accounting system and preparing monthly financial statements including Profit and Loss, Balance Sheet and Cash Flow Statement (Experience in Accounting and/or Marketing for micro, small and medium-sized businesses);
- Submit monthly comparative (actual versus projected) financial statements to the Head of Post-Funding and Head of Advisory Services; and include comments for all line items with variances greater than 20%;
- Obtain monthly loan payment receipts or statements from all assigned MSMEs within 15 days of their scheduled payment date; and immediately notify the Head of Post-Funding and Head of Advisory Services in the event MSMEs are unable to make their scheduled loan payment;
- Submit monthly loan performance reports for assigned MSMEs documenting loan details such as principal, interest, term, balance, last payment, amount in arrears, days in arrears and follow-up attempts;
- Assist MSMEs with claiming available Customs Duty exemptions on imported capital assets or operating inputs (Experience in Purchasing); Copies of these claims should also be maintained by the Advisor;
- Assist MSMEs with monthly and quarterly VAT filings with the Department of Inland Revenue; Copies of these filings should also be maintained by the Advisor;
- Assist MSMEs with weekly and monthly NIB contribution filings with the National Insurance Board; Copies of these filings should also be maintained by the Advisor (Experience in Staff Recruiting, Training, Payroll and/or Labor Disputes for micro, small and medium-sized businesses);
- Assist MSMEs with keeping their personal identification, business license, company renewal, VAT filings and NIB contributions current and submitted to all required parties;
- Recommend ways to improve the Post-Funding team and services provided to MSMEs; and
- Any other duties as required by the Head of Post-Funding.
The successful candidate should have the following:
- A minimum of a Bachelor's degree in Business Marketing, Finance, Banking, Business Administration, Management, Accounting, Human Resources, or related field.
- Master’s degree preferred.
- Professional certification in Accounting, Human Resources, Project Management, or a related field would also be a plus.
- Professional experience in Purchasing and/or Manufacturing.
- Experience in working in a Small Business Development Centre environment preferred. Professional experience in client record keeping, data management, monitoring and evaluation.
- Professional experience in Client Relationship Management.
- Professional experience working with Business Plans for different industries.
- Experience working in a team environment.
- Professional experience in processing tax filings for VAT, Customs Duty exemptions and/or NIB contributions.
The Access Accelerator now invites eligible Consultants to indicate their interest in providing the Services. Interested consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. Consultants will be selected in accordance with the National Competitive Bidding Selection method set out in the IDB’s Policies for the Selection and Contracting of Consultants (GN-2350-15).