MSMEs to benefit from restoration grant programme

The industry ministry has launched a restoration grant programme to assist micro, small, and medium-sized enterprises (MSMEs) affected by Hurricane Melissa.

The $500 million programme was launched on Tuesday at The Jamaica Pegasus hotel in New Kingston. Portfolio Minister, Senator Aubyn Hill, explained that two grants are available under the programme, Tools of Trade Grant and Fasst Biz Grant. The former will provide eligible self-employed Jamaicans, whose tools, equipment or stocks were damaged or lost, with up to $100,000. Hill said this includes mechanics, carpenters, masons, tailors, hairdressers, barbers, gardeners, beauty therapists and cookshop operators.

“The Fasst Biz grant will support eligible micro and small businesses with up to 20 employees and an annual turnover of $75 million. Depending on business size and sector, eligible enterprises may receive up to $350,000 to support the restoration of premises, tools and equipment,” he said.