The Bermuda Economic Development Corporation will be shedding light on small business debt in a free webinar series launching this month.

Demystifying Debt: Building a Solid Foundation for Small Business Success will be the first of a two-part series dedicated to equipping small business owners with the knowledge and tools needed to effectively manage and leverage debt.

This first session will provide a comprehensive understanding of debt, its types and its implications for small businesses.

BEDC loan portfolio management officer Tahkeesha Welch will be leading the webinar. She said understanding and managing debt is crucial to business success.

“Too often, small business owners find themselves overwhelmed by the complexities of debt management,” Ms Welch said. “The goal of this webinar series is to turn that uncertainty into confidence, providing attendees with clear, actionable strategies for mastering debt and securing a brighter financial future.”

Attendees will explore various debt management strategies, including distinguishing between good and bad debt, optimising cashflow and leveraging debt for growth opportunities. The session will delve into practical techniques for assessing and evaluating a business’s financial situation, establishing realistic repayment plans and improving creditworthiness.

The aim is to give attendees insight into the world of debt and actionable strategies to manage it.

“This will enable them to make informed financial decisions that lead to long-term success,” Ms Welch said.

The lunchtime webinars are aimed at people starting their entrepreneurial journey or those looking to improve their current debt management strategy.

Part one will be held on May 30. Part two, Debt Free Blue Print, will be held on July 25.