Monthly News & Updates
December 2020 Issue
A Message from the Executive Director
Dear Clients & Stakeholders, 
2020 has been a year like no other. Every day has brought new challenges. At times, it’s been incredibly trying. It’s been unpredictable. It’s been exhausting. I sincerely hope that the Bermuda Economic Development Corporation has been able to play a meaningful role in the continued success of your business and served as a resource during this unusual year. 
More than ever, we are grateful for you, our Clients and Stakeholders. Your resilience is awe inspiring, especially given this year! You are the inspiration for everything we do, and our team has been working tirelessly to continue to make your experience as an entrepreneur and business owner better. We don’t always get it right the first time, but we are completely committed to the value of continuous improvement – both for our clients and for ourselves.
Although we are currently working remotely from home, the BEDC team will continue to work relentlessly to support all of Bermuda's small and medium business owners as well as aspiring entrepreneurs. Our goal is always to be a high value resource and point of support for all Bermuda's entrepreneurs, which we’ll continue to do in 2021 with new funding, support and educational programmes.
I would like to extend a big thank you for your continued support of the BEDC. Our Clients, Stakeholders and the community are our True North, and you continue to inspire all that we do.  

My hope for 2021 is for our country and our people to be happy, healthy, and hopeful and for 2020 to fade into a distant and foggy memory! I am optimistic for what 2021 can bring all of us! From our BEDC family to yours warm wishes for a safe and prosperous 2021!

Happy New Year,
Erica Smith, Executive Director,
Bermuda Economic Development Corporation

This Month at BEDC / The Highlights
Happy Holidays & Happy New Year from the BEDC Team! We wish everyone a happy and prosperous 2021!
BEDC Announces Covid-19 Emergency Relief Grant
The BEDC is providing short-term emergency grant relief to bars, nightclubs, members clubs, and restaurants economically impacted negatively by the most recent Public Health Closure notice issued by the Ministry of Health.

BEDC has set aside a total of $1M out of the $12M in Covid-19 funding support provided by the Government for this emergency relief. As is the case with all BEDC financial products, applications will be reviewed, and funds provided based on need.

BEDC Announces Construction Stimulus Programme
BEDC is pleased to be able to partner again with the Ministry of Public Works on the Construction Stimulus Programme.
BEDC’s involvement will be led by our Director of Economic and Cooperative Development, Mr. William Spriggs. William will be responsible for working with entrepreneurs in the construction industry to help them understand what is required to submit the best information for pre-qualification.

Winners of the 2020 Eat, Shop, Play EEZ Shop to Win Initiative to be Announced!
The winners of the Christmas "Eat, Shop, Play" initiative in the BEDC Economic Empowerment Zones, are going to be announced LIVE on the radio on January 4th. The winners in the St. George's EEZ will be announced on Power 95. The Somerset Winners will be announced on VIBE 103 and the North East Hamilton Winners will be announced on Magic 102.7. All announcements will happen at 8:15am. Tune in to find out who won! Winners will also be posted on the BEDC website later that day.
BEDC would like to extend a huge thank you to all of the participating businesses and those that shopped.
Things You Should Know
BEDC Covid-19 Business Support Page
We encourage you to browse the BEDC Covid-19 Business Support Page on BEDC's website. Here you will find documents, applications, articles & resources that may assist you at this challenging time.
Entrepreneur Article
9 Basic Financial And Analytics Metrics Every Startup...

Everyone starting a new business understands the basic concept of profits. If you are making more than you are spending, the difference is your profit and the bigger the difference, the more money you make. The most important question is, how do...

Read more
BEDC Product Brochure
BEDC offers a wide range of products to support Bermuda's entrepreneurs. Our products support the organisation’s key objective to assist the Government in encouraging economic growth for Bermuda’s local small and medium sized businesses.
BEDC Small Business Tool Box
The BEDC Small Business Tool Kit is a great source of information, applications, and resources needed throughout the entrepreneurial journey.
Book An Appointment
Need Further Assistance? Interested in how BEDC can
help you in these challenging times? Want to apply for one
of our products?
Upcoming Webinars & Events
Payroll Tax: The Basics
Get ready for the Jan 15th filing deadline! This webinar will help to demystify the Bermuda payroll tax system for those tasked with calculating accurate employee deductions, preparing tax returns and gathering information on tax rules and concessions available to businesses. 

For those needing extra help with filing or would like to discuss a specific issue please contact Megan directly at One hour time slots at a cost of $135 can be booked the mornings of Jan 11th , 13th and 14th .
Legal Considerations
Develop a deeper understanding of how to identify the right business structure for your venture. Explore the pros and cons of various business structures – sole proprietor, partnership, LTD, LLC.

Understand the process and requirements needed to obtain a Liquor License and what the authoritative board looks for when considering successful approvals.
Happening in the Community
Two Four One Presents:
Make a Plan & Get Results
In this 90-minute workshop you’ll be given a framework for a marketing plan that works.
It will cover:

  • The planning mindset – how to save time, money and frustration
  • Steps to an Effective Marketing Plan
  • Key things to include in your plan
  • Level-Up Tips for marketing in 2021
  • Supporting documents - yours to keep

Only USD $49 per person, this online workshop will support you as you develop your winning Marketing Strategy for 2021.
Learn More About The 
WeHealth Bermuda App
To aid Bermuda in closely monitoring the local developments of the Coronavirus (COVID-19), the Government has launched WeHealth Bermuda, a new, free smartphone application that provides anonymous COVID-19 exposure notifications. It is one of the most sophisticated apps available anywhere in the world for helping to control the spread of COVID-19.

Download the WeHealth Bermuda app in either the Apple App Store or Google Play Store.
Tip & Support Articles
How Apple's iOS 14 Update Limits Your Advertising Efforts

Apple's proposed changes will limit your ability to effectively reach, understand and engage people on mobile devices and across the web. They will impact your ability to understand performance, control who sees your ads and make informed...

Read more
How To Poise Your Business For Success (And Survival) In ...

Business life in the era of Covid has elements of both crisis management and an endurance trial. How can your business join the ranks of those that are succeeding in this environment? LJ Suzuki, founder and fractional CFO at CFOshare and I...

Read more