Tuesday 27 October, 2020

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:

Personal Documents

  • Two forms of valid Trinidad and Tobago identification
  • Personal Board of Inland Revenue (BIR) number

 Business Documents

  • 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.

Get the latest local and international news straight to your mobile phone for free: