The purpose of the Bermuda Business Development Agency (BDA) is to promote and protect, in collaboration with government and the private sector, sustainable and equitable economic growth and prosperity in Bermuda.
Its committed team of skilled professionals works energetically to facilitate and lead efforts to promote Bermuda and consistently deliver outstanding value to its stakeholders.
As a public-private partnership, the BDA bridges the gap between government and the private sector. The BDA’s business concierge service connects investors with industry professionals, regulatory officials and key government figures. The BDA’s high-calibre team of business development, marketing & communications, and conferences & event planning professionals, works by a set of core values, which include:
• Innovation: forward thinking, planning, execution to expand horizons
• Integrity: honesty and harmony in words and actions
• Respect: treating others better than you expect to be treated
• Passion: enthusiasm, desire and commitment to succeed
• Teamwork: succeeding together
The BDA’s board of directors is made up of industry leaders and seasoned experts who volunteer their time and efforts to advance Bermuda’s development as a blue-chip jurisdiction. The agency further harnesses Bermuda-based expertise, thanks to the industry representatives who serve voluntarily on its working groups, providing input on key focus areas and issues.
In its ability to bring together government and the private sector, the BDA plays a key role in supporting legislative reform to maintain and improve Bermuda’s business environment to enhance economic growth. In 2020, 11 pieces of policy and legislation were progressed to promote growth in both existing and new sectors.
While the impact of Covid-19 made 2020 a challenging year, the BDA delivered on its mandate. Through its business concierge service, it assisted in the incorporation of 20 new entrants to the market – including three class 3A commercial insurers, a high-net-worth family office, an investment fund, a digital asset business and a technology incubator. It also generated 23 new opportunities and 60 new leads for potential future company incorporations in Bermuda.
In its work to promote Bermuda’s reputation as a premier jurisdiction, the BDA focused on adopting digital initiatives to communicate with clients and markets worldwide, after its staff switched seamlessly to a remote working model in response to the pandemic. This work yielded:
• 15 webinars, produced with globally recognised partners, which attracted more than 3,200 registrants from 59 countries
• Social media campaign to promote the Work From Bermuda One-Year Residential Certificate, which generated 2.7 million impressions, more than 5,800 clicks to the website and 160 direct application enquiries
• “Bermuda Central” creative campaign which highlights how Bermuda sets the standard for many global industries under a clear unifying theme; generated 1.2 million social media impressions and increased website traffic
• Visitors to rebranded and updated website up 300 per cent year-over-year
Roland Andy Burrows, chief executive officer of the BDA, said: “The BDA works for all Bermudians. What we do trickles down through the economy. It impacts hotels, restaurants, taxi drivers, retail and many more. The sustainable and equitable economic growth that we work to promote is for all of Bermuda.”
For more information, visit www.bda.bm