SEDECK - Economic Impact

SBDC Curacao

Economic Impact

Independent Economic Impact Studies

SEDECK works in collaboration with knowledge institutes to design research programs in order to conduct economic impact studies to assess the value-added of its direct assistance to the MSMSB sector.

To generate positive economic impact, SEDECK focuses on working with early stage existing businesses.

At least 60% of the counseling client base should be existing businesses of which the majority will be early stage businesses (less than 5 years in business). Long-term relationships (12 or more counseling-hours) are desired.

SEDECK designs and market its services to target these early stage businesses as well as developing relationships with those organizations, financial institutions and business associations that can assist in this effort.

SEDECK will arrange professional development opportunities for its staff members in order to enhance their expertise in working with early stage businesses.

Relevant data for research will be entered into the database system of SEDECK for research, reporting and management information purposes. Examples are the number of entrepreneurs that have taken counseling and courses, the total counseling hours provided, the number of new businesses that started during the year, number of jobs that were created, etc. The knowledge institutes will utilize this data in order to perform research studies to determine the economic impact on the economy of Curacao. The methods for such analysis are economic and financial rates-of-return for the yearly program, cost benefit analysis for social infrastructure and sensitivity analyses.

Stimulating Self-employment

SEDECK encourages young people/students to participate in its programs in order to create more interest in them to become entrepreneurs. In addition to that SEDECK strives through its promotional activities and public relation to create the awareness in the local community that it is a great achievement to be self-employed and that it is something to be proud of.

Expected Return on Investment Results

Both the government of the Netherlands Antilles and the government of the island territory of Curacao invest in SEDECK's program to empower the entrepreneurs in the MSMSB sector, so that a tremendous impact could be created in the economy. They expect to see a positive development in jobs that were created, in employment growth rate, new sales and sales growth rate, export of locally produced products and services, income tax revenues, financing obtained by small businesses, and in the number of new small businesses.

These expectations play a crucial role when the government evaluates its return on investment, as long-term government investments in the program depends on the impact SEDECK has on the economy.