Twenty-two Montserrat businesses have been awarded grants totalling nearly EC$98,900 under the government’s 2023 Small Business Relief Fund.
Most of those businesses are within the food and beverage, creative and craft, or media and entertainment sectors.
The businesses will use the funds to buy trade specific equipment, appliances and tools, according to a government press release.
Speaking at a brief ceremony on 21 February, Premier and Minister of Finance, Joseph E Farrell said he was happy to be able to contribute to the development of the private sector.
“I am pleased that my government can continue to support the private sector during some of the most challenging times on the global, regional and local economic scenes,” he said.
The second round of the Small Business Relief Fund was rolled out in September 2023 with the government earmarking another EC$100,000 to aid businesses.
Under the programme, locally registered qualifying businesses had an opportunity to benefit from a maximum grant of $5,000 each.
In total, 87 applications were received from a wide range of business sectors.
“We will continue to demonstrate our commitment to the growth and resilience of the private sector,” Farrell said.
The government will do this through capital investments, training initiatives, encouraging business compliance and promoting our local sectors through events like PRIME, he added.
Over the next few weeks, the Ministry of Finance will support the awardees to obtain the items approved under their application.
Recipients can also expect to benefit from duty free exemption on the importation of their items as part of the overall programme.
