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Virgin Islands Government Opens Applications for Small Business Grant Program

Editor — Wed, 04 Sep 2024 14:13:19 +0000

The Government of the Virgin Islands, through its Ministry of Financial Services, Labour and Trade, has officially launched the Micro, Small, and Medium Enterprises (MSME) Grant Programme, an initiative designed to bolster business growth and economic development within the Territory.

The first round of grants is now open for applications and will remain so until September 30. Application forms are available on the Government’s official website (www.gov.vg). Eligible businesses interested in applying must complete the application forms and submit them via email to mfslt@gov.vg with the subject line “MSME Grant Programme.”

Additionally, the Ministry is seeking experienced professionals to join the Selection Committee for the MSME Grant Programme. This committee will be instrumental in evaluating applications and awarding grants to local small businesses that show significant potential to contribute to the Virgin Islands’ economy. Ideal candidates should possess expertise in business development, finance, or related fields, alongside strong analytical skills and a dedication to fostering economic growth in the community.

Interested candidates are encouraged to apply for the Selection Committee by submitting a cover letter and a current resume or curriculum vitae to mfslt@gov.vg, using the subject line “MSME Selection Committee.”

The Ministry of Financial Services, Labour, and Trade views this as a pivotal opportunity to support local businesses and professionals, with a focus on strategically enhancing the economic landscape of the Virgin Islands through targeted assistance and development initiatives.

Click below link for MSME Grant Application:

https://view.officeapps.live.com/op/view.aspx?src=https%3A%2F%2Fbvi.gov.vg%2Fsites%2Fdefault%2Ffiles%2Fmsme_grant_application_edited_version_1.docx&wdOrigin=BROWSELINK

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Deputy Premier Applauds Virgin Islands MSMEs and Banks Following Successful Business Banking Expo

Editor — Mon, 08 Jul 2024 20:01:42 +0000

Deputy Premier and Minister for Financial Services, Labour, and Trade, Honourable Lorna Smith, OBE, has commended the Micro, Small and Medium-Sized Enterprise (MSME) sector alongside local banks in the Virgin Islands for their active participation in the recent Business Banking Expo. Organised by the Ministry of Financial Services, Labour and Trade in collaboration with the BVI Bank Association, the Expo aimed to foster closer ties between the business and banking communities.

Featuring presentations from key figures including the Premier and Deputy Premier of the Virgin Islands, the event also saw contributions from representatives of the Financial Services Commission, the BVI Chamber of Commerce, and the Department of Trade and Investment Promotion and Consumer Affairs.

The Expo served as a platform to explore new avenues for collaboration with the shared objective of creating a supportive environment for MSMEs. Central to discussions was the banking sector’s commitment to enhancing customer education, aimed at raising awareness of banking products and simplifying client interactions.

Deputy Premier Smith emphasised the importance of strengthening relationships between businesses and banks, particularly in navigating financial procedures and accessing crucial funding for growth and sustainability. She expressed satisfaction with the Expo’s turnout and pledged ongoing collaboration between her Ministry, banks, and the business community to translate ideas discussed into actionable initiatives.

Continuing her engagement with the BVI Bank Association post-conference, Deputy Premier Smith highlighted efforts to enhance financial literacy among entrepreneurs and promote greater understanding of available financing opportunities.

Proposed initiatives from the event included town hall meetings, educational sessions, specialised loan programmes, community outreach, and tailored training for small business clients. Deputy Premier Smith lauded these initiatives as practical solutions that align with her Ministry’s commitment to bolstering MSME support, including the forthcoming MSME grant assistance programme.

Participants unanimously agreed on the success of the Expo and endorsed its continuation as an annual event, underscoring its role in fostering ongoing dialogue and collaboration between the sectors vital to the territory’s economic growth.

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