Although women make up more than half of the applicants at the Small Business Development Centre (SBDC), they tend to request 42 percent less in funding, according to SBDC Executive Director Davinia Grant.
She noted that women tend to request roughly $29 million whereas men request about $40 million.
“And when I first heard that, I thought that was repulsive,” Grant said during the launch of the U.S. Embassy’s Academy for Women Entrepreneurs (AWE) on Monday night.
“I said nah, that can’t be true. And when we look at our stats, it happens to be true.”
She said 55 percent of SBDC’s clients are women.
Grant also noted that SBDC has roughly $40 million to give out in funding.
“The women, who represent 55 percent of this group, ask for $29 million which is 42 percent of the total figure,” she said.
“So on average, it shows that men in our group just asked for more even though they represented a smaller group of the applicants.”
She noted that fact was significant to her.
“For me, we have to get deeper into it and we’re looking forward to our work with this group and future groups,” Grant said.
SBDC is the product of a tripartite arrangement between the government through the Ministry of Finance, the University of The Bahamas and the Bahamas Chamber of Commerce and Employers’ Confederation.
It works to guide the development, funding, growth and evolution of micro, small and medium-sized enterprises in The Bahamas.