16 Businesses Receive Funding under Small Business Relief Assistance (SBRA) programme
Sixteen businesses on Montserrat last Wednesday received funding under the Small Business Relief Assistance (SBRA) programme.
The SBRA, which was developed by the Government of Montserrat with funding from the European Union, aims to provide some financial relief to small businesses still experiencing the impact of COVID-19 pandemic on the local economy.
The Government allocated $100,000 in grant funds to deserving recipients for a maximum of $5000 to persons who had not benefitted from the ongoing Enterprise Development Scheme.. EDS.
The presentations made on Wednesday, with a total value of $72,005.44, were made by Premier the Honourable Joseph Farrell.
Premier Farrell said his Government will be looking to launch another cycle of the project, as small businesses are very important to any government and economy.
Premier the Honourable Joseph Farrell
To date, the government has awarded $88,195.43 in funding, under the programme, with another 7 applications currently being processed.
On Friday May 27th, Premier Farrell personally handed out 2 of the first four awards.
The twenty awardees represent seven different sectors of business to include plumbing and renewable energy, food and beverage, arts & craft manufacturing, lawn care & garden services, carpentry & joinery, micro-bakeries and agriculture (fisheries, greenhouse vegetable production, agro-processing, animal husbandry and hydroponic vegetable production).
According to Coordinator of the Programme Agatha Aspin, the fund is now exhausted after some 27 awards.
She says what is worthy of note is that of these awards over 85% or approximately $75,000 have been injected into the local economy so that not only small businesses benefited from this initiative, but so too did the larger businesses through the purchases of many appliances and hardware products.