The applications process for the Micro, Small, and Medium Enterprises (MSME) Grant Programme launched in 2024 is being made easier. Photo: Internet Source

Hon Lorna G. Smith, OBE (AL), Junior Minister for Financial Services, Trade and Economic Development along with a grant awardee under the Micro, Small, and Medium Enterprises (MSME) Grant Programme at the ceremony in December 2024. Photo: Facebook

(L-R) Talking Points Co-host Damion C. Grange and Violet Thomas Gaul, guest Hon Lorna G. Smith, OBE (AL) and Co-host Elvin Grant on Talking Points on Monday, April 14, 2025. Photo: Facebook

This is according to the Junior Minister for Financial Services, Trade and Economic Development, Hon Lorna G. Smith, OBE (AL), who was the guest on Talking Points on Monday, April 14, 2025, on ZBVI 780 AM. Hon Smith was behind the establishment of the grant programme.

When first announced, to qualify, businesses must be wholly owned by belongers who have resided in the Virgin Islands for at least three continuous years. Businesses must hold a valid trade license in the Virgin Islands and be up to date with all necessary payments and other requirements. 

Depending on the applicant’s need and the potential impact, grants will range from $1000 to $7000.

We’re trying to make it simpler- Hon Smith

The grants programme, she told the co-hosts, is active. In December 2024, the first cohort, 26 entrepreneurs, received grants. 

“We’re trying to make it simpler. For instance, we can’t tell somebody who really doesn't have a bank account that they must produce a bank account statement…so we’re making it simpler.”

Hon Smith said the committee responsible for the selection process will be reviewing more applications soon. 

Apply for the grant- Hon Smith

The application process is an ongoing one, she also indicated. 

“I will take this opportunity to invite persons who are interested in applying for small business grants to do so.”

During the grant award ceremony last December, Hon Smith called on the banks to be more supportive of small businesses.

“The process must be more accessible. We need to ensure that small businesses, particularly those in underserved communities, have a fair chance,” Hon Smith said then. 

Application forms are readily available online for those wishing to take advantage of the Small Business Development Grant Programme.