For one, she said, the EDB will not sell insurance as banks are now allowed to do. Another top priority is to restructure EDB's venture capital division so that it can take advantage of all government tax benefits and incentives just as the other non-government venture capital funds do. To take advantage of these incentives, Fuentes will create a venture capital subsidiary. Our mission should be to provide seed money to small entrepreneurs, those who need it most. That way we can reach more businesspeople.
Large businesses have access to the large venture capital funds.
We should concentrate on small and medium-size companies. The EDB began its venture capital fund a decade ago. EDB will offer venture capital for operations, expansion, management buyouts, or family successions where one of the heirs wants to purchase a family business. To learn business basics, from writing a business plan to preparing a financial statement, those applying for EDB venture capital funds are being required to attend the Commerce Development Administration's business school for entrepreneurs. The conditions under which the EDB will offer venture capital are likely to change.