Premier Smith at the press conference on June 21, 2012. Photo: VINO

Hon. Smith told members of the media that the Territory had applied for funding from the EU’s best schemes and revealed that the VI is poised to launch the EU funded small and medium size project that will help strengthen the small business sector.

“As part of this responsibility is that the BVI is managing the EU’s funded enterprise of 15M euros or approximately US $19M to be implemented in the 11 Overseas Territories in the Caribbean…that will help the VI in assisting and building the small business sector,” the Premier told journalists.

Asked when the money will become available, the Territory’s leader said that all the paperwork is done, and now in the hands of the EU. “I’m sure it’s going to happen soon…to do their homework residents will hear about it in the coming months.”

Having a national business bureau was one of the priorities that the new Government advocated during its campaign trail. In order to make it a reality, Kevin ‘OJ’ Smith has been hired as a Business Development Liaison.

Speaking at the second House of Assembly sitting on December 21, 2011, the Premier had told residents, “Madam Speaker, entrepreneurs continue to face many challenges including access to capital and trained human resources, adequate management skills and limited markets for expansion. That is why we are working diligently to re-establish a Business Bureau to provide development assistance to entrepreneurs, to foster the growth of the business sector and to encourage new businesses as well. You see Madam Speaker, there are many VIslanders who are keen to start their own business and as a Government we must do all that we can to support them”.

Furthermore, Premier Smith on June 22, stated that the Territory has benefited from the EU relationship and projects that were funded including the H. Lavity Stoutt Community College Learning Resource Centre and its Auditorium now re-named Eileene L. Parsons auditorium; the HIV/AIDS programme and the Culinary Arts project.