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Economic stimulus Grant for small business in the BVI

Owners of Micro, Small and Medium businesses are reminded to apply for the Government of the Virgin Islands’ Economic Stimulus Grant programme by August 21. Junior Minister for Trade and Economic Development, Honourable Shereen Flax- Charles is encouraging Micro, Small, and Medium Enterprise (MSME) businesses affected by the COVID-19 pandemic to apply for the Small Business Sector Grant Relief Programme before the deadline. 

Honourable Flax-Charles said, “The grant programme is an integral component of the Government’s economic stimulus response to the COVID-19 pandemic and is structured to assist affected businesses to meet their operational expenditure, while stimulating economic activity within the Territory. ”The six million, five hundred thousand dollars ($6,500,000.00) programme, is funded through a grant from the BVI Social Security Board.

Director of the Department of Trade, Investment Promotion and Consumer Affairs, Mrs. Karia Christopher while commenting on the application process to date said, “The department has received 387 applications thus far and my dedicated staff has started the review process and continue to assist persons with completing the online application form.” 

Mrs. Christopher is encouraging business owners who are not comfortable with the online application process to contact the department for assistance via phone, WhatsApp, e-mail and Facebook messenger.  

“Applicants are to ensure that the information provided is accurate and include the necessary supporting documentation as part of their application. This will definitely accelerate the processing of applications and ultimately lead to a faster turnover of grant allocations once the application process has concluded,” Mrs. Christopher added.

Business owners are reminded that they must meet the following requirements to apply:

  • A valid trade license
  • In good standing with up-to-date payments or payment arrangements for 20 employees or less
  • Commenced operations prior to January 31, 2020
  • In operations now or planning to resume once the borders re-open for visitors

Applications must be submitted with the following documentation:

A valid trade license and proof that you have been in operation prior to January 31, 2020

Businesses are required to complete an application form and submit electronically.  Assistance will be given to persons who may have technical difficulties completing the application. Provisions will also be made through the Department of Trade, Investment Promotion and Consumer Affairs to assist applicants who may have difficulty completing an electronic application form or do not have access to a computer or the Internet.

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