On Wednesday, June 29, Premier Joseph Farrell handed out cash awards to the value of $72,005.43 to 16 successful entrepreneurs.
This brings the total amount awarded to $88,195.43 to date, with the last seven applications currently being assessed, states a release from the Government Information Unit.
The Small Business Relief Fund (SBRF) was developed by the Government of Montserrat (GoM) with funding from the European Union (EU) to provide some financial relief to small businesses still experiencing the impact of the COVID-19 pandemic on the local economy.
To this end, GoM allocated $100,000 in grant funds to recipients, as well persons who had not benefitted from the on-going EDS Scheme, for a maximum of $5,000.
On Friday May 27, the Hon. Premier and Minister of Finance, Joseph Farrell, personally handed out two of the first four awards to successful candidates.
The twenty awardees to date represent seven different sectors of business and include:
1. Plumbing and Renewable Energy
2. Food and Beverage
3. Arts and Craft Manufacturing
4. Lawn Care and Garden Services
5. Carpentry and Joinery
6. Micro Bakeries
7. Agriculture: Hydroponic vegetable production; Animal Husbandry; Agro-processing; Greenhouse vegetable production; and fisheries.
The fund is now exhausted with a possible twenty-seven awards.
However, over eighty-five percent 85% or approximately $75,000 has been injected into the local economy so that not only small businesses benefitted from this initiative, but also larger businesses through the purchase of many appliances and hardware products.
The administering department, Ministry of Finance congratulate all the successful awardees and wish them well in their business endeavors.