BEDC partners with Prudential to help small businesses
Small businesses in Bermuda are set to get an extra pair of helping hands after a new partnership was agreed to address critical business challenges.
The Bermuda Economic Development Corporation has joined forces with Prudential Financial to provide the company’s PruBono Small Business Programme.
“We are excited to collaborate with Prudential on this initiative,” said Erica Smith, BEDC’s executive director.
“The programme aligns perfectly with our mission to empower Bermuda’s entrepreneurs by providing them with innovative tools and expertise to overcome their challenges.
“This partnership brings significant added value to our small business community.”
The initiative will offer pro-bono business support from Prudential employees enabling entrepreneurs to access expert guidance in business development, data management, financial modelling, operations and technology.
It has been in action since 2015 and overall 1,400 Prudential employees have supported close to 300 nonprofits and small businesses with more than 28,000 hours of pro bono support.
Through the PruBono Small Business Programme, qualifying small businesses will have access to two schemes:
• PruBono Small Business Marathon: a focused, two-day engagement where selected businesses will work with Prudential employees over eight hours to address specific business challenges. It will take place virtually on April 29 and May 1, 2025.
• PruBono Small Business Consulting Programme: an intensive, twelve-week scheme designed for in-depth project work, where Prudential employees will collaborate with selected businesses to develop detailed solutions for complex challenges. It kicks off in April 2025 and culminates in June.
“As a company that is helping people live a better life longer, we see the critical role small businesses play in driving local economies, creating jobs and building generational wealth,” said Sarah Keh, vice-president of philanthropy, Prudential Financial.
“Through the PruBono Small Business Programme and BEDC, Prudential is bringing the strength of its people, expertise and resources to help Bermuda’s local entrepreneurs tackle their most pressing business challenges, drive innovation and achieve long-term success all with the goal of supporting a thriving community.”
Applications are now open, with a submission deadline of December 13. Eligible Bermuda-based businesses must have at least $100,000 in gross revenue, two years of operational history, and a full-time employee.
Accepted applicants will receive individualised support tailored to their needs, enabling them to strengthen their business models and set the foundation for sustainable growth.
• For more information on the scheme, see Related Media
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