More grants coming for small businesses, Smith says
Smith.
The government is preparing to award another round of grants to small businesses this month as part of its ongoing Micro, Small and Medium Enterprise (MSME) Grant Programme, Junior Minister for Financial Services and Economic Development Lorna Smith has announced.
Speaking in the House of Assembly last week, Smith said the latest awards would build on funding already distributed through the programme, which is designed to support local entrepreneurs and strengthen business development across the territory.
“We will be able to give out a number of grants under our micro small and medium enterprise efforts by the end of July,” Smith stated.
She said the government has already distributed more than $300,000 to local businesses and expects to award approximately 20 additional grants before the end of the month.
Smith made the announcement while outlining several initiatives being undertaken by the Trade Department to improve access to government services and expand support for entrepreneurs.
Among them is the opening of a satellite Trade Department office in Virgin Gorda within the next two weeks. The office is expected to operate three days each week, allowing residents to access services such as trade licence applications without travelling to Tortola.
Smith also highlighted progress at the Entrepreneurial Zone in Huntums Ghut, where she said the first building has been completed. Leasing arrangements for four to five businesses are expected by the end of July, with spaces earmarked for enterprises involved in craft, education, consulting and other business activities.
She further reported that the department recently graduated 29 participants from training programmes covering financial management and marketing.
The MSME Grant Programme was launched to provide financial assistance to locally owned businesses and encourage entrepreneurship, job creation and economic diversification. The initiative has expanded since its introduction, with the government increasing available funding and continuing to invite applications from eligible businesses.
Recent application rounds have required businesses to demonstrate good standing with the National Health Insurance, Social Security and Inland Revenue departments before grants are approved.
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My people, don’t fall for the same old hand out tactics, because if you re-elect her, she will again have the handle and you will have the blade. What has she really done for these Virgin Islands???
greed will always follow greed
How is this still allowed, did the COI teach us nothing?
This exercise only exposed that blatant corruption and the people in power later on a race to show they can be even worse because they are free to continue.
Offer small businesses what they actually need instead of simply giving them money. Help obtaining required documents, setting up banking and merchant accounts, putting accounting and SSB/NHI filing systems in place, building a credible digital presence with clear information and contact methods, and connecting them with customers, contracts, and ongoing business guidance. And a novel idea, make it an appointment process instead of running all these talking sessions.
Non family members need not apply
The decision on who receives and who does not is NOT transparent. My friend applied and was told she has a valid case. Next thing we know we see a picture of who received and she was not included. No explanation, No nothing to explain why she did not succeed. You are only giving to your friends and family. The process is not transparent, Hon. Smith. I am so disappointed in you.
Those who apply and do not revived should be given written feedback as to why not and how they might improve a future application. That would be the Department of Trade actually doing something to help a small business succeed.
I have been in business for over 30 years and everyone got covid money except business and I finally had someone to reach out to let me know all the funds where not available anymore but by God’s grace my salon is holding
Is this another raid on the SSB to give to friends and family?
More bribes coming. Bring it on buddy.
It’s under the table kick backs season already?
Happy for those who’ll be successful. But She means more of our tax money being handed out for votes. It is right on the brink of another election and how long businesses struggling. Ma’am please hurry up