Businesses which were severely impacted by the 2017 hurricanes can now receive further assistance with the newly launched BVI Restoration Foundation.
The non-profit organisation offers technical and financial assistance to members of the local business community who are in need.
In addition, impacted businesses can receive training to restore and sustain their growth, grant funding to purchase equipment and inventory lost due to the natural disasters, and partial or full grants for the purpose of accessing membership in co-working spaces for periods not exceeding one year.
The overall aim of the foundation is to help businesses regain their economic viability and contribute to the rebuilding of the territory’s economy.
According to businessman and head of the foundation’s Board of Trustees, Meade Malone, making entrepreneurship the another economic pillar of the BVI is imperative.
Malone, who is the Managing Director of MWM Global Holdings has more than 20 businesses under his direct and indirect supervision and control.
Malone is well-known for promoting local entrepreneurship through various initiatives.
Besides Malone, the foundation comprises ‘outstanding private sector leaders’ such as Ray Wearmouth of Ogier, Lorna Smith of LGS & Associates, and Sharon Flax-Brutus of the BVI Tourist Board.
The BVI Restoration Foundation officially launched on May 31 at the Ritter Building on Wickham’s Cay II.
Persons are invited to contribute to the cause, and a website has been established for those wishing to donate.
Premier Dr D Orlando Smith, who delivered brief remarks, commended the initiative.
He also labelled Malone as an ‘excellent’ partner of government and ‘pioneer’ for innovation and entrepreneurship for the BVI.
In the meantime, foundation member Lorna also had words of praise.
“I commend Meade for what he’s been doing for the last few years in making sure that the entrepreneurial spirit remains alive and well,” she said.
More food businesses opening
Smith said since the devastating 2017 hurricanes, more food businesses are opening.
She said: “There has been an upsurge seen with the opening of restaurants and the improved quality of service offered by the businesses.”
The businesswoman said it was encouraging to see the territory was rebuilding better and in a different manner in the aftermath of the hurricanes.
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