On 14 September 2020, the Government of the British Virgin Islands will be holding a virtual ceremony for COVID-19 stimulus payments to Micro, Small, and Medium Enterprises (MSMEs) affected by the pandemic.
More than 1,100 MSMEs are approved for the government’s Small Business Grant Relief Programme. This is one of the initiatives that the BVI Government embarked on in presenting a $62.9 million Phase Two COVID-19 Economic Response Plan. The plan consists of several programmed to help families and small businesses during this dire time of the COVID-19 pandemic.
The Junior Minister of Trade and Promotions, Honourable Shereen Flax-Charles expounded that the Small Business Sector Grant Relief Programme was established to assist MSMEs affected by the COVID-19 pandemic in meeting their operational expenditure, while stimulating economic activity by facilitating the circulation of money within the Territory.
More than 1,400 businesses had applied for the programme.
The programme which was opened on 22nd of July with deadline of 21st of August was processed carefully to assist as many eligible businesses as possible. The total grant programme is $6.5 million. The deadline date to apply has been extended to September 16 to grant more small businesses an opportunity to apply which approved applications will be fulfilled from remaining funds.