1. Background

Invest Turks and Caicos implemented the Micro, Small and Medium Enterprise (MSME) Programme in 2015 to support the growth and development of the small business sector in the Turks and Caicos Islands (TCI). The Programme provides financial assistance, capacity building, and other forms of support to eligible MSMEs with the aim of strengthening local enterprise development, improving business resilience, and contributing to broader economic development in TCI.

The Programme is governed by the Micro, Small and Medium Enterprises Ordinance 2015, which outlines the criteria for monitoring and inspecting small businesses that have been granted a concession order. Recipients of an MSME Concession Order are required to maintain proper books, records, and accounts, and are subject to annual inspections for five years to ensure compliance with the Ordinance and the terms of the Concession Order.

Having operated the programme for a decade, Invest Turks and Caicos now seeks to undertake a comprehensive 10-Year Review of the MSME Programme to assess its long-term impact, determine the extent to which it has met its founding objectives, and inform the strategic direction of the Programme going forward.

2. Objectives

The main objective of this consultancy is to produce an evidence-based assessment of the MSME Programme’s first 10 years of implementation to inform decisions on its future design, delivery, monitoring, and strategic direction. The review will focus on the following areas:

• Effectiveness of the MSME Programme in achieving its founding and evolving objectives over the 10-year period.
• Long-term economic and social impact of the Programme on the MSME sector and the broader TCI economy.
• Efficiency of the Programme in delivering services and support to MSMEs across the review period.
• Adequacy and evolution of the Programme’s monitoring, inspection, and evaluation framework.
• Sustainability and scalability of Programme interventions.
• Strategic recommendations for the next phase of the MSME Programme.

3. Scope of Work

The consultant will be responsible for the following:

• Review and analyze all relevant documents related to the MSME Programme over the 10-year period, including programme reports, financial reports, monitoring and inspection reports, concession orders, and policy documents.
• Conduct structured interviews and focus groups with key stakeholders including government officials, programme staff, past and present MSME beneficiaries, financial institutions, and other relevant stakeholders.
• Assess the cumulative effectiveness of the Programme in achieving its objectives over the 10-year period, including measurable changes in the growth, sustainability, and resilience of the MSME sector.
• Evaluate the economic and social contribution of the Programme, including job creation, income generation, local ownership, and sector diversification.
• Evaluate the efficiency of the Programme in delivering services and support to MSMEs, including the administration of concession orders and compliance inspections.
• Review the Programme’s monitoring and evaluation framework to determine its adequacy in measuring performance and outcomes over time.
• Conduct a regional comparative analysis with similar MSME development programmes in comparable small island developing states (SIDS) or Caribbean economies.
• Identify key strengths, weaknesses, opportunities, and challenges of the Programme over the review period.
• Develop evidence-based recommendations for strengthening and expanding the Programme for the next decade.

4. Deliverables

The consultant will be expected to produce the following deliverables:

• An Inception Report detailing the methodology, data sources, stakeholder engagement plan, and approach to be used in conducting the 10-Year Review.
• A Data Collection and Analysis Report summarizing findings from document reviews, stakeholder interviews, and the regional comparative analysis.
• A Draft 10-Year Review Report outlining findings, conclusions, and recommendations for stakeholder review and feedback.
• A Final 10-Year Review Report incorporating feedback from stakeholders and the client, including a strategic roadmap for the Programme’s next phase.
• An Executive Summary suitable for public dissemination and presentation to key government and private sector stakeholders.

5. Timeline

The consultancy is expected to commence in September 2026 and conclude by December 2026. The following schedule will apply:

• Inception Report: Within two (2) weeks of contract signing.
• Data Collection and Analysis Report: Within six (6) weeks of contract signing.
• Draft Review Report: Within ten (10) weeks of contract signing.
• Final Review Report and Executive Summary: Within two (2) weeks of receipt of client feedback on the Draft Report.

6. Duration

The consultancy is expected to be completed within approximately 12 weeks after the contract is signed, excluding the period required for client review and feedback on the Draft Report.

7. Qualifications

The consultant should possess the following qualifications:

• A minimum of 10 years of experience in conducting evaluations, reviews, or audits of development programmes, preferably in the MSME or private sector development space.
• Demonstrated experience in conducting comprehensive programme evaluations or reviews, including longitudinal and mixed-method assessments.
• Experience in designing and implementing monitoring and evaluation frameworks for government or development programmes.
• Knowledge of the Caribbean or small island developing state (SIDS) economic context is an asset.
• Demonstrated ability to engage with government officials, programme staff, business communities, and other stakeholders.
• Excellent oral and written communication skills in English.
• Prior experience working with investment promotion agencies or enterprise development bodies is an advantage.

8. Reporting

The consultant will report directly to the Chief Executive Officer, Invest Turks and Caicos Islands, with regular progress updates to be shared with the Chief Domestic Investment Officer (CDO) and other designated programme staff.

9. Confidentiality

The consultant will be required to sign a confidentiality agreement before commencing work. All related information, data, and documents will be treated as strictly confidential and may not be disclosed to any third party without the prior written consent of Invest Turks and Caicos.

Proposal Submission Requirements:

Interested consultants (individuals/firms/institutions) are invited to submit a proposal with:

1. Cover letter explaining their eligibility for the assignment and their interpretation of the tasks;
2. Proposed methodology and timeframe for implementing the 10-Year Review;
3. CV or profile of lead consultant/consulting team including a reverse chronological list of similar projects/assignments and contact details (name, email/phone) of supervisors/clients; and
4. Financial proposition with the expected remuneration.

Consultants may request clarification on the Terms of Reference up to five [5] days before the proposal submission date. Any request for clarification must be sent via electronic mail.

The application package should be submitted to acooper@investturksandcaicos.tc

The deadline for submission of proposals is August 21, 2026