CDB backs new small business policy to boost Cayman Islands’ MSME Sector

Published on September 22, 2025

 The Caribbean Development Bank is partnering with the Cayman Islands Centre for Business Development (CICBD) to strengthen the country’s Micro, Small, and Medium-sized Enterprises (MSMEs) through the creation of a data-driven national small business policy.

With nearly USD80,000 in grant funding from CDB, the initiative aims to enhance the business support ecosystem, foster inclusive economic participation, and drive long-term growth.

The new policy will focus on empowering women, youth, and entrepreneurs in non traditional industries, while also improving business confidence and investment. It will serve as a foundation for ongoing dialogue between policymakers and the private sector, ensuring that the voices of entrepreneurs are heard and reflected in national development strategies.

Beyond policy development, the project will generate valuable insights into the contribution of MSMEs to Gross Domestic Product, employment, and revenue generation.

It will also enhance the Government’s capacity to craft investment-friendly policies, improve service delivery by business support organisations, and promote greater inclusion of underrepresented groups.