Montserrat’s Leader of Government Business Provides Clarity on the Aim of the Newly established Enterprise Development Scheme (EDS)
Premier, the Honourable Joseph Farrell says the recently launched Enterprise Development Scheme (EDS) is designed to drive innovation and create diversity in the small business sector on island.
He was responding to the Leader of the Opposition in the Legislative Assembly on Tuesday, on how many jobs the 1.1 million dollar project will create.
Although pressed by Honourable Paul Lewis, Premier Farrell declined to give a number, but emphasized that any jobs added will be a bonus and evidence that the projects were successful.
Through this programme, local businesses stand to benefit from grant funding of up to EC$20,000.00 and 3.5% interest loans up to EC$40,000.00.
Businesses have the option to apply for both types of funding.
The EDS is focusing on Information Communication Technology, renewable energy, light manufacturing, and environmental protection.
Mr. Lewis wanted to know how many businesses in Montserrat would fall within those categories.
Although not giving a definitive answer, Premier Farrell indicated that they would be several.
Premier the Honourable Joseph Farrell