The government has launched an EC$100,000 grant programme aimed at supporting micro and small businesses
The Ministry of Finance has allocated the funds to address issues like limited access to finance, skills gaps, new technology needs, and challenges with market research and sustainability.
Each successful applicant will be eligible for a grant of up to $10,000 for their business and the grants do not need to be repaid, economic development minister Kyle Hodge said this week.
Speaking during a press conference on 26 May, he encouraged eligible business owners to apply through the Ministry of Economic Development.
“Here’s a great opportunity for anyone owning a micro or small business – whether you’re experiencing cash flow issues, whether you want to to increase your stock or whether you want to expand,” he said.
To qualify, a business must be wholly owned by an Anguillian permanent resident for at least three years and be based in Anguilla.
Existing businesses must be registered and hold a valid business licence. They must also be classified as micro or small enterprises.
Micro businesses are defined as having one to five employees and annual turnover under $100,000, while small businesses have six to ten employees and annual turnover between $100,000 and $250,000.
Hodge noted that monitoring will be in place to ensure funds are used appropriately within the business.
The Ministry of Economic Development can be contacted at (264) 497-2874.
