The government of St. Vincent and the Grenadines (SVG) on Tuesday (June 16) presented the second batch of PRYME awards.
PRYME (Promoting Youth Micro Enterprises) is a grant programme providing up to EC$40,000 to Vincentian business owners.
Eighty (80) recipients received certificates for grants amounting to just over $600,000 at the PRYME Website Launch & Award Ceremony which took place at the Ministry of Finance Conference Room.
Tuesday’s ceremony also saw the launch of the PRYME website.
“The PRYME website and online application is going to make it even more convenient for those who have not applied yet, to apply on line on a very user friendly environment,” Tony Regisford, Chairman of the PRYME steering committee said of the website, noting that it is “just as secure and more hassle free than the hard copy paper.”
Over $1.2 million has been distributed to entrepreneurs so far under the programme.
“PRYME is entrepreneurial support because we have to build the sense of entrepreneurial activity in St.Vincent and the Grenadines,” Minister of Finance, Economic Planning, et el Hon. Camillo Gonsalves.
So far 1509 Vincentian have applied for PRYME.
“As of June 12th, you now a group of 80, we had a group of 80 before, that’s 160 people who have already gotten their PRYME grants… I understand that coming to Cabinet this Wednesday would be another 100 or so, so that’s 260 approaching 300 out of that 1500… 20% already,” Gonsalves commented.
He added that almost 100 applications are being made every week.
Speaking to the recipients, the Finance Minister said, “80 of you, will receive over $600,000 in grants fom the government of SVG, you don’t have to pay it back, you invest all of it in your business.”