Trade Department hosts second MSME grant distribution

The government awarded a new round of grants last week through its Micro, Small and Medium Enterprise (MSME) Grant Programme, with a focus on supporting entrepreneurs and strengthening food security.

The Department of Trade, Investment Promotion and Consumer Affairs hosted its second MSME grant distribution ceremony at the BVI International Arbitration Centre. The event brought together grant recipients, government officials and business stakeholders to highlight the programme’s growing role in developing the local economy.

Dr Lincoln Bobb, Deputy Director of the Department of Trade, praised the new beneficiaries and stressed the importance of collaboration.

“This is more than just an event of giving grants, it is a more powerful moment that highlights the beginning of a fantastic collaboration between us within the government and businesses, so we can ultimately build the Virgin Islands. So today isn’t just a good day for the recipients, it’s a wonderful boost for the growth of your business, your communities and it’s also great for developing the economy of the BVI,” said Dr Bobb.

Sandy Boyce of Speech Therapy Services of the Virgin Islands, a past recipient, shared how the grant enabled her to expand her services. She encouraged the new cohort to make the most of the opportunity.

Junior Minister for Financial Services and Economic Development, Lorna Smith OBE, underlined the critical role of small businesses in the territory’s economic vision. She announced that the funding available for the programme has increased from $100,000 to $300,000, made possible through the support of Premier Dr Natalio Wheatley. “

We have a number of persons who are benefiting from this programme in the area of agriculture. We talked about food security, eight years ago; we were flattened as a country and eight years later, we are back up helping ourselves. Agriculture and food security are vital,” Smith said.

The cheques were formally presented to this year’s cohort of entrepreneurs, many of whom operate in the agricultural sector. Each was recognised for their potential to make meaningful contributions to the economy.

In recent years, MSME funding in the territory has drawn scrutiny, especially during the COVID-19 pandemic when over $1.7 million in stimulus grants were issued without full Cabinet approval.

This year’s distribution, however, has been presented as part of a structured and transparent effort to build resilience and diversify the economy. The government urged more entrepreneurs and small business owners to apply, noting that the programme is designed to support innovation and long-term growth across sectors.