The Access Accelerator Small Business Development Centre (Access Accelerator) has approved funding for a Family Island water startup in the form of loan and equity funding.
Out Island Water Company was created by Trevor Williams, a native of the island of New Providence. The startup will specialize in purified water manufacturing, water bottling and manufacturing ice.
Access Accelerator assisted Out Island Water Company on Sal Salvador to receive funding approval of $207,500. The capital injection came from the Bahamas Entrepreneurial Venture Fund in the form of loan and equity funding.
As the son of San Salvadorians, Williams said he was inspired by the need to increase water security on the island.
“Presently San Salvador does not have a water bottling plant on the island,” he said.
“They do have the presence of Water and Sewage Corporation which provides portable water but with a major resort like Club Med Columbus, I feel as though having bottled water should be localized.
“There is no reason bottling water should not be done on the island there are a lot of systems that can be used for reverse osmosis. San Salvador even has areas of freshwater based on my research.”
He continued: “My whole purpose in this starting this business is to increase water security and to take advantage of the fact that San Salvador has a major resort and a few small ones going, so instead of taking those funds out of the community we will be able to keep it circulating on the island.”
Feeling excited and grateful for the capital injection, the entrepreneur said the funding will help to purchase machines for reverse osmosis, bottling and wrapping.
He said: “I will also be able to buy bottles and smaller machinery for helping with the storing, moving and delivery of the water and ice such as pallet jacks and a delivery truck. All of those things go into setting up the manufacturing space along with having the actual building constructed.
“I am looking at Summer of this year to be up and running. Based on my business plan I am going to be able to hire between four to six employees within a three- to four-year period. I am looking forward to being able to provide more employment opportunities to the locals on San Salvador.”
While entrepreneurship was not always the path Williams saw for himself, he believes that the experience from jobs he has had over his career have readied him for business ownership.
Thanking the Access Accelerator for the assistance, Williams shared that it was the organization that got his plan to the point where opportunities were now available to him.
“They gave me advice and pointed me in the right direction when my plan did not speak to key elements. I wish this organization the best because they are helping Bahamians. I know a lot of Bahamians out there looking for an opportunity like what I have been afforded, so I really do appreciate the effort they put into assisting business owners.”