Day 1 Webinar Recap - FIVE THINGS YOU MISSED! BCCEC & MOF Boosting your Business Webinar


FIVE THINGS YOU MISSED!

Empowering small businesses to bid on government contracts and thrive in a digital ecosystem


1️⃣ There’s now a business ecosystem to support entrepreneurs throughout the country, providing access to funding, tools, resources. $68.1M in total funding has been approved and facilitated through the Access Accelerator programmes and initiatives as of July 31, 2021.


2️⃣ Under the new Public Finance Management Act, every level of Government now has to track and report ALL spending and the IMPACT of their spending via monthly, quarterly, mid-year & annual reports, which MUST be published and released to the public.


3️⃣ More accountability is expected from State-Owned Enterprises (SOEs), which are now referred to as Government Business Enterprises (GBEs), including stronger sanctions for offences. The Public Finance Management Act, 2021 now gives public officers the legal backing they need to make complaints and report behaviours by ministers or any public office holder that is contrary to the law.