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Minimum Wage to Increase to $8.50 Per Hour Starting November 2024

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Deputy Premier and Minister for Financial Services, Labour, and Trade, Honourable Lorna Smith, OBE, confirmed that the Territory’s minimum wage minimum wage will rise to $8.50 per hour effective 30 November 2024..

Honourable Smith explained that this wage adjustment is a key component of a broader, multi-faceted economic strategy. “This decision reflects our commitment to fostering a robust economy that benefits all stakeholders,” Smith stated. “By implementing this balanced approach, we aim to enhance worker welfare while fortifying our businesses for long-term sustainability.”

The forthcoming increase is part of a comprehensive plan that includes regular wage reviews, targeted support for small businesses, and increased investments in workforce development. The Minimum Wage Review report, which underpinned this decision, will be laid before the House of Assembly shortly and will subsequently be made available to the public for further insights into the rationale and details of the wage increase.

The adjustment follows a thorough review conducted by the Minimum Wage Advisory Committee, which evaluated policy documents, economic data, and labour force statistics. The committee engaged in extensive consultations, including surveys, media interviews, and focus groups, to gather diverse perspectives from stakeholders such as the BVI Chamber of Commerce, business owners, and employees.

Honourable Smith expressed her gratitude to the committee members and the Ministry of Financial Services, Labour, and Trade staff for their dedicated efforts in this process. “I extend my heartfelt appreciation to everyone who contributed to this important review,” she said.

The Government encourages both businesses and workers to embrace this positive change as a step towards creating a fairer, more inclusive, and sustainable economic environment for the Virgin Islands.

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Xmas in July Donates £6,000 to Support Marine Conservation in the BVI

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Wally Castro Marine, organisers of the 2024 Xmas in July event, have donated £6,000 to Beyond the Reef, a non-profit organisation dedicated to marine education and preservation in the British Virgin Islands. The funds were raised through the sale of the event’s official reusable stainless steel tumblers, one of several eco-friendly initiatives introduced this year.

“This initiative reflects our desire to raise awareness about the importance of protecting our beaches,” said Wally Castro, owner of Wally Castro Marine. “We are proud to support a local organisation that shares our dedication to environmental stewardship.”

The 2024 Xmas in July event, held on 20th July at Pond Bay Beach in Virgin Gorda, attracted nearly 5,000 attendees and 500 vessels. It set a new standard for eco-conscious planning by minimising its environmental impact through reusable products and strict waste disposal measures.

Members of Beyond the Reef were actively involved in overseeing tumbler sales, while the Valley Sound Lions Club provided local dishes, further supporting the fundraising efforts.

“We are deeply grateful for this donation,” said Kendyl Berna, founder of Beyond the Reef. “Our oceans are a vital but fragile resource, and it’s crucial that everyone who enjoys the sea does so responsibly.”

The event, organised by Wally Castro Marine in partnership with the BVI Tourist Board and Marcos Rivera, highlights the importance of sustainable tourism in the region.

“By choosing the BVI, attendees support our local economy and marine tourism industry,” said Clive McCoy, BVI tourism director. “They also help our local non-profits continue their vital work.”

For more information, visit Wally Castro Marine’s website or contact the BVI Tourism Office in Puerto Rico.

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Flow Pledges Full Restoration of Fixed Network Following Tropical Storm Ernesto

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Leading telecommunications provider Flow has reaffirmed its commitment to fully restoring its fixed network, including broadband, landline, and television services, after widespread damage from Tropical Storm Ernesto. The company’s technical teams have been working tirelessly to reconnect customers affected by the storm, which disrupted essential services across the region.

Since Ernesto made landfall, Flow has mobilized additional resources, including field technicians and engineers, to expedite recovery efforts. The primary focus has been on assessing and repairing damaged infrastructure, reconnecting homes and businesses, and ensuring that critical services are brought back online throughout the Territory.

“Within the first three days, we restored 95% of mobile connections. Our fixed network connectivity has significantly improved from 20% to 93% for internet service,” said Nadia A. James, Marketing and Communications Coordinator at Flow. “Our teams are dedicated to restoring connectivity for impacted customers and are working around the clock, seven days a week, to make this happen. We will continue to update the community on repair progress.”

Restoration efforts are underway in numerous Tortola communities, including Belle Vue, Road Town, Huntum’s Ghut, Lower Estate, Long Look, Greenland, Fat Hog’s Bay, Sea Cow’s Bay, Towers, Carrot Bay, Mount Healthy, Spooner’s Estate, and Chalwell Estate. Concurrent work is also taking place in Virgin Gorda.

“We know how vital connectivity is, especially in the wake of a storm,” added James. “Our goal is not just to restore services but to rebuild a stronger, more resilient network that can withstand future storms. We are committed to reconnecting our customers and delivering the reliable service they expect from Flow.”

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Unite BVI Launches 2024 KickStart BVI Small Business Loan Programme

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Unite BVI has officially launched the 2024 KickStart BVI Small Business Loan Programme, an initiative aimed at bolstering the British Virgin Islands’ economic growth by supporting local entrepreneurs with financial aid and resources.

This year’s programme continues its commitment to fostering social impact businesses that contribute positively to the community or environment.

The KickStart BVI programme offers zero-interest loans of up to $5,000 with a two-year repayment period. In addition to the financial boost, participants will receive free training, mentorship, and access to networking opportunities. Notably, no down payment or collateral is required, making the loan accessible to a broad range of small businesses across the territory.

Since its inception six years ago in partnership with VP Bank, KickStart BVI has grown to include collaborations with HIRE BVI, IGNITE, and the Branson Centre of Entrepreneurship Jamaica. These partnerships provide crucial training and development resources to the programme’s participants. Unite BVI is also working alongside the Ministry of Financial Services, Labour, and Trade to deliver comprehensive mentorship and business development support.

To qualify, interested entrepreneurs must complete an initial assessment survey available online. The deadline for submissions is September 13, 2024. Successful applicants will then be invited to submit a detailed business plan and financial forecast.

Kim Takeuchi, Foundation Manager at Unite BVI, highlighted the programme’s focus on social impact enterprises, emphasizing the long-term benefits to the BVI community and environment. “The KickStart BVI programme is about more than just financial support; it’s about fostering a vibrant entrepreneurial culture that drives social, environmental, and economic change,” said Takeuchi.

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