With access to financing continuing to challenge the sustainability of local micro and small enterprises and the emergence of new ones, the Small Business Bureau (SBB) earlier this week disclosed that it is preparing to make available thirty grants collectively valued at $15 million to such enterprises under its second quarter, 2019 grant allocation, with each grant averaging $500,000 each.
An advertisement from the Bureau published in the local media over last weekend stated that the objective of the exercise is to provide support to “approved small businesses” that are able to demonstrate “sustainable growth potential.”
The Bureau says that the funding available under the grant scheme is intended to be used under a specifically designated range of business activities or projects, its notice specifically listing equipment purchasing or modernisation, working capital, construction & fabrication work, marketing & promotional services, implementation of ICT solutions, product packaging, standards certification and research design & testing.
