Twenty-three entrepreneurs have received grants from the Department of Trade, Investment Promotion, and Consumer Affairs on Friday, August 30, 2025. Photo: Government of the Virgin Islands

Honourable Lorna G. Smith, OBE (AL), Junior Minister for Financial Services and Economic Development, highlighted the crucial role of MSMEs in the Territory’s economic vision. Photo: Government of the Virgin Islands

The department hosted its second Micro, Small and Medium Enterprise (MSME) Grant Distribution Ceremony on Friday, August 29, 2025, awarding grants to a diverse group of entrepreneurs, many of whom operate in the agricultural sector.

This year's cohort reflects the growing diversity of the Territory’s business community and serves as reassurance to small businesses about the expanding ecosystem and support being fostered by the Department of Trade.

The event took place at the BVI International Arbitration Centre, bringing together grant recipients, government officials, and business stakeholders.

Grants moved from 100K to 300K

Honourable Lorna G. Smith, OBE (AL), Junior Minister for Financial Services and Economic Development, highlighted the crucial role of MSMEs in the Territory’s economic vision and announced increased efforts for this year’s grant distribution.

She noted that financial support for the program has significantly grown from $100,000 to $300,000, thanks to the continued commitment of Premier and Minister of Finance, Dr the Hon Natalio D. Wheatley (R7).

Minister Smith emphasized the government’s vision of a diversified and self-reliant economy stating, “Many individuals are benefiting from this program, particularly in agriculture. Eight years ago, we faced great challenges as a country, but today we are resilient and supporting ourselves. Agriculture and food security are vital,” stated Honourable Smith.

Nineteen of the new cohort, formally presented with cheques, were each recognized for their potential to contribute meaningfully to the Territory’s economy.

MSMEs encouraged to apply for the grants

The Ministry of Financial Services, Economic Development, and Digital Transformation, in collaboration with the Department of Trade, encourages more entrepreneurs and small business owners to apply for the MSME Grant Programme.

This initiative is open to a wide range of sectors and is designed to provide essential financial support, build resilience, and create growth opportunities.