Entrepreneurship relief grant offered to medium, small businesses
The National Entrepreneurship Development Company Limited (NEDCO) has launched an Entrepreneurial Relief Grant which is a collaborative project with the Ministry of Finance.
This forms part of the State’s COVID-19 relief efforts in which the Government is offering financial assistance to micro and small enterprises (MSEs) that earn less than TT$1,000,000 in annual revenues and were negatively impacted by the pandemic.
Affected MSEs can access up to TT$20,000 in grant funding to help cover business-related expenses such as salaries, rent, stock and other working capital.
Applicants must meet the following criteria to qualify which will be administered by NEDCO:
- Business owners must be a citizen or legal resident of Trinidad and Tobago and be 18 years and over
- Applicants must have an existing business to apply
- Unregistered businesses can apply, but applicants must register their company before funds are disbursed
- The business must earn less than TT $1 million in annual income
- Any type of legal business can apply, including sole traders
- Applicants who received other COVID-19 relief benefits are not eligible for the Entrepreneurial Relief Grant
- Applicants with pending or current criminal court proceedings against them will not be eligible
The following documents must be submitted to apply:
- Two forms of valid Trinidad and Tobago identification
- Personal Board of Inland Revenue (BIR) number
- Certificate of Registration and/or proof of assignment of a business
- Board of Inland Revenue (BIR) number
- Proof of business operations
- Proof of address
Interested micro and small enterprises are invited to visit www.nedcottfunding.com for further information.