Grants for Entrepreneurs
The Caribbean is a great grooming place for business, and Entrepreneurs can no doubt succeed here.
There are countless opportunities available for those that do the work.
When seeking out a grant, it is important to ensure that you have a legitimate business.
Your Business Plan MUST be in order, your CASHFLOW PROJECTIONS must be done up and your business' books MUST be kept in order.
Investors are serious about what they do and their decisions, and you should respect their principles and policies.
We provide a short list below of some resources for obtaining grants within the region. This list will be updated often with changes that occur in the marketplace
Link Caribbean
LINK-Caribbean provides investment facilitation grants to entrepreneurs, as well as non-funding activities to support the development of deal-flow for early-stage investment through the Caribbean Business Angel Network (CBAN).
Visit their website below for more details:-
http://link-caribbean.com/entrepreneurs/
Caribbean Export
Caribbean Export offers the following opportunities to for CARIFORUM firms to access finance: The Direct Assistance Grant Scheme, Break Point, Special Projects Grant...
Visit their website below for more details:-
http://www.carib-export.com/export-development/access-to-finance/
IADB
Social Entrepreneurship Program
The IDB has a Social Entrepreneurship Program, which provides grants to private, non-profit, community based organizations and public local development institutions. Program resources may be used for technical assistance, training, investment in productive or basic services infrastructure, procurement of equipment and materials, working or operating capital, and/or marketing.
Visit their website below for more details:-
https://www.iadb.org/en/about-us/grants
Compete Caribbean
Compete Caribbean supports innovative projects through its highly competitive ‘innovation window’ facility. Firms and entrepreneurs with can compete for up to US $500,000 in financing for transformational yet high-risk ventures that stand to considerably advance the economic development of the Caribbean if successful. Qualifying submissions must meet strict criteria such as being cutting edge, commercially viable, environmentally friendly and socially impactful, among others.
Visit their website below for more details:-
The World Bank
The World Bank also provides numerous grant opportunities to entrepreneurs and small business owners in the Caribbean to encourage innovation, sustainable development, increased exports and manufacturing, and technological advancements among others.
Visit their website below for more details:-
Caribbean Science Foundation
CSF is Committed to Caribbean Entrepreneurship.
Providing Entrepreneurial support in many forms is integral to both our mission and our sustainability plan.
Visit their website below for more details:-
http://caribbeanscience.org/entrepreneurship/
NEDCO - Entrepreneurial Funding and Training
Access to funding and training is often a major obstacle faced by small businesses and entrepreneurs. The National Entrepreneurship Development Company Limited (NEDCO) provides funding and training to start or enhance small and micro-enterprises in Trinidad and Tobago. NEDCO funding is specifically designed to assist those who have difficulty accessing funding from banks or other commercial lending agencies.
Visit their website below for more details:-
http://www.nedco.gov.tt ( website temporarily down for maintenance so visit your local branch for information or contact our offices)
https://nedcottfunding.com/ for funding information
The Ministry of Trade and Industry
The Ministry of Trade and Industry has increased the support available to local entrepreneurs by expanding the Grant Fund Facility (GFF) from two (2) to eight (8) priority sectors. According to the Minister of Trade and Industry, Senator the Honourable Paula Gopee-Scoon, “The Government continues its efforts to promote domestic investment and in this regard, the Cabinet has agreed to expand the sectors eligible for funding under the GFF.”
Under the expanded GFF, Small and Medium-sized Enterprises (SMEs), in operation for a minimum of two (2) years in designated sectors, can access up to TT$250,000.00 to cover the cost of new capital requirements/expenditure. The Grant does not cover working capital and land and building costs.
The areas eligible for funding under the Grant Fund Facility now include:
- Financial services;
- Maritime services;
- Aviation services;
- Fishing and fish processing;
- Software design and applications;
- Creative Industries;
- Agriculture and agro-processing; and
- Manufacturing.
Visit their website below for more details:-
https://tradeind.gov.tt/ministry-expands-access-to-gf/
Download the Application form here: https://tradeind.gov.tt/application-approval-grant-funding/
“A relatively small number of grants are available each year, and are typically open to several countries at a time, making it very competitive for those who meet the strict eligibility requirements. Grant writing has therefore become an intricate art with many winning proposals being written by experienced consultants who have intimate knowledge of the selection criteria and process.
While the eligibility requirement for each grant opportunity may be different, most typically require formal business registration, financial statements for at least two years, counterpart funding provided by the applicant, and proven management expertise and competence and so on.” Mastercard Biz. https://www.mastercardbiz.com/caribbean/2016/06/10/caribbean-small-business-grants-what-to-know/
We will continue to add to this as we collect information.
