in All News / By: BVI News on July 16, 2026 at 7:29 AM /
Smith.
The government is preparing to award another round of grants to small businesses this month as part of its ongoing Micro, Small and Medium Enterprise (MSME) Grant Programme, Junior Minister for Financial Services and Economic Development Lorna Smith has announced.
Speaking in the House of Assembly last week, Smith said the latest awards would build on funding already distributed through the programme, which is designed to support local entrepreneurs and strengthen business development across the territory.
“We will be able to give out a number of grants under our micro small and medium enterprise efforts by the end of July,” Smith stated.
She said the government has already distributed more than $300,000 to local businesses and expects to award approximately 20 additional grants before the end of the month.
Smith made the announcement while outlining several initiatives being undertaken by the Trade Department to improve access to government services and expand support for entrepreneurs.
Among them is the opening of a satellite Trade Department office in Virgin Gorda within the next two weeks. The office is expected to operate three days each week, allowing residents to access services such as trade licence applications without travelling to Tortola.
Smith also highlighted progress at the Entrepreneurial Zone in Huntums Ghut, where she said the first building has been completed. Leasing arrangements for four to five businesses are expected by the end of July, with spaces earmarked for enterprises involved in craft, education, consulting and other business activities.
She further reported that the department recently graduated 29 participants from training programmes covering financial management and marketing.
The MSME Grant Programme was launched to provide financial assistance to locally owned businesses and encourage entrepreneurship, job creation and economic diversification. The initiative has expanded since its introduction, with the government increasing available funding and continuing to invite applications from eligible businesses.
Recent application rounds have required businesses to demonstrate good standing with the National Health Insurance, Social Security and Inland Revenue departments before grants are approved.
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