Small business owners get over $1m in grants

The Ministry of Social Development and Family Services distributed over $1 million in grants to small business owners on Tuesday morning through the Sowing Empowerment through Entrepreneurial Development (SEED.)

As part of the ministry’s continued efforts to give starting and struggling small businesses a boost, the minister, Donna Cox, in her feature address, said 91 beneficiaries would be one step closer to financial stability.

She was speaking at a grant distribution at the ministry at St Vincent Street, Port of Spain.

The grants aims to provide support for first-time business owners, increase awareness and training in micro-entrepreneurship, contribute to eradicate poverty and provide skills training, among other things.

Each grant recipient was given a maximum of $15,000 to buy goods and/or equipment. They will also receive an additional $7,500 worth of training to facilitate skills enhancement at an accredited institution.

In total the ministry distributed $1,319,611. This is the first SEED distribution for 2022.

Cox said, “This will help the person become employed, help with records management and customer service to foster an entrepreneurial mindset.

“Each recipient has the opportunity to become successful business owners, who can grow their businesses and become household names in your communities.”

She urged the business owners to “make good use of this opportunity and ensure that it is a stepping stone which leads to income generation and a better quality of life.”