Eighteen Local Businesses Awarded $165K Grants
Eighteen entrepreneurs across the Virgin Islands have received a combined total of $165,000 through the government's Micro, Small and Medium Enterprise Grant Programme. The funding aims to bolster local entrepreneurship, job creation, and business innovation across multiple economic sectors. Grantees span Tortola, Virgin Gorda, and Jost Van Dyke, which celebrated its first-ever grant recipient under the initiative.
Eighteen business owners across the British Virgin Islands have received a significant financial boost totalling $165,000 through the Micro, Small and Medium Enterprise (MSME) Grant Programme. The financial awards were officially presented by the Department of Trade, Investment Promotion and Consumer Affairs during a ceremony held on Wednesday, 19 August.
The grant initiative provides direct capital to support both new start-ups and the expansion of existing enterprises. Funding was distributed across a wide range of vital sectors, including food services, tours, auto mechanics, plumbing, electrical services, catering, logistics, laundry, spa services, and senior care.
Recipients included businesses operating in Tortola and Virgin Gorda, while a business on Jost Van Dyke secured an MSME grant for the first time in the programme's history. The initiative has also previously extended support to operators on Anegada. Minister responsible for Financial Services and Economic Development, Honourable Lorna G.
Smith, OBE, emphasized that the initiative reflects the Government’s continuous commitment to fostering economic resilience throughout the entire Territory. She reiterated that the administration remains dedicated to facilitating the necessary resources to help local businesses thrive, while also urging recipients to deliver high-quality services that reflect positively on the BVI brand.
Lincoln Bobb described the grants as a tangible vote of confidence in the Territory's entrepreneurial talent. Characterizing small and medium business owners as the backbone of the local economy, Dr. Bobb noted that putting real capital behind their momentum will help strengthen the wider Virgin Islands community.
Permanent Secretary in the Ministry of Financial Services, Economic Development and Digital Transformation, Mrs. Natalie Fahie-Smith, reminded recipients that the funding represents a strategic investment in jobs, innovation, and people. She encouraged business owners to practice responsible financial management and utilize the funds as a true catalyst for sustainable growth.
To complement the financial aid, business owners were also invited to take part in the MSME Capacity Building Programme. Organized with support from the Caribbean Development Bank, this training programme provides valuable instruction in digital marketing, financial management, and business continuity planning to ensure long-term commercial success.
Primary source: BVI Platinum