(441) 292-5570
48 Church Street, Hamilton Bermuda
48 Church Street, Hamilton Bermuda
292-5570

Our Vision

BEDC’s Vision is to help to create an expanded pool of inspired entrepreneurs running successful businesses that fuel Bermuda’s economy.

Our Core Values

Knowledgeable, Progressive,
Supportive, Professional,
Innovative

Our Mission

To inspire, inform, support and grow new and existing Bermuda businesses through education, guidance, data provision, advocacy, networking and financing.

Upcoming Courses & Events

Workshops, Info Sessions, Seminars, Webinars and More to Assist You in Your Business.

About Us

The Bermuda Economic Development Corporation (BEDC) was established in 1980 as the Bermuda Small Business Development Corporation. This joint venture between Bermuda’s banks and the Government was formed to actively assist the development of a strong, well managed and prosperous small business sector in Bermuda. In 2011, the BSBDC Act was amended to expand its remit. As a result the BSBDC changed its name to BEDC to encompass its expanded legislation. Under the new legislation the Corporation performs the following functions:
  • the granting of loans or other forms of financial assistance, to assist persons in establishing, carrying on or expanding small businesses, medium-sized businesses and entities within economic empowerment zones;
  • the provision of technical advice or assistance to persons who are seeking or who are granted financial assistance;
  • to operate and manage markets;
  • to oversee and manage the development and implementation of the economic empowerment zones; and
  • the maintenance of a Register of Small Businesses, Medium-Sized Businesses and Economic Empowerment Zone Business Entities,

A Little History

Since it was established in 1980, Bermuda Economic Development Corporation (BEDC) has provided existing and potential small business owners with a broad range of business advice and financial assistance.

During its first decade of operation, the BEDC provided general start-up guidance, bookkeeping advice and loan guarantees that served as collateral for bank loans for persons who may have otherwise been declined by a Bank. In the early nineties, as the small business landscape changed and grew from “mom and pop operations” to employing more persons, competition grew, and market demands became more complex. BEDC began to offer low cost quarterly seminars and workshops to enable entrepreneurs to educate themselves on relevant topics such as managing cashflow; controlling expenses and overhead; and developing marketing plans and communication strategies.

Over the years BEDC has counselled thousands of Bermudians on starting, expanding, winding up, restructuring, buying, and/or selling a business. BEDC officers meet with hundreds of individuals annually seeking business planning and management advice. These advisory meetings are individual business coaching sessions generally lasting 60 minutes and are offered free of charge to the public. In many cases, they end in the production of a business plan or on occasion the granting of one of BEDC’s financial products used to start a new business. BEDC has supported in excess of $20,000,000 (twenty million dollars) in bank loans through the Loan Guarantee Programme, directly assisting close to four hundred business persons.

Our Commitment To You

BEDC is Bermuda’s source of free, confidential business advice with a singular focus to actively assist the development of a strong, well-managed, and prosperous local business sector in Bermuda. The organisation’s key objective remains to assist the Government in encouraging economic growth for Bermuda’s local small and medium sized businesses.

 

Statement of Purpose

The maintenance of a strong and vibrant small business sector is critical for a successful economy in any country. This sector is a significant employer of Bermuda’s population and a primary driver of innovation and creativity in the provision of goods and services. Thus, for Bermuda to maintain its position as an innovative and successful business jurisdiction, it is vital for the island’s economy to be supported and cultivated. The BEDC prides itself in serving that purpose.

November 8th - November 14th

2021 Global Entrepreneurship Week Bermuda

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Join us in our week-long celebration to inspire, mentor and engage the public around all things entrepreneurial.

Get Involved

A Track Record That
Speaks For Itself

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With over 40 years experience helping small businesses, you are in good hands!

0 Employees

We have 13 outstanding staff members ready and willing to help you.

0 Businesses

A wealth of Small & Medium Sized Businesses have registered with BEDC.

What Our Clients Say

Take a look at what our clients have to say about their experience with the BEDC.

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