One hundred thousand Eastern Caribbean dollars is being disbursed to local businesses through a government grant scheme.
A release from the Government Information Unit stated that 12 applicants were approved for grants ranging from $4,000 to $10,000. Disbursements began on June 28, 2019.
The ‘Business Support Facility’ is a grant scheme which was launched in December 2018, through the Office of the Premier and is being administered through the Ministry of Finance. The scheme is aimed at assisting local businesses which are experiencing financial challenges.
The businesses will utilise the funds for purchasing raw materials and to replace or acquire new equipment. It is hoped that the grants will help to making the local businesses more efficient. The Office of the Premier, also anticipates that these grants will trigger increased economic activity, over the course of the year.
Business Services Manager Agatha Aspin says the government is expected to shortly announce a second round for grant applications from August 1st, 2019.