The Government of St. Vincent and the Grenadines yesterday launched the Promotion of Youth Microenterprises (PRYME) program at a press conference held a Cabinet Room
PRYME is a youth-focused initiative programme, which seeks to put $2 million in grant funds, in the hands of young business persons for 2020.
The programme will complement existing entrepreneurial-support initiatives by identifying promising microenterprises and start-ups, that could benefit from appropriate injections of financial or managerial capital.
During yesterday’s Press conference, Minister of Finance, Camillo Gonsalves, said the Youth-run microenterprises face a number of challenges to growth, including capital constraints, inadequate skills and insufficient discipline.
Minister Gonsalves said the programme seeks to assist young micro entrepreneur might be in need of materials; or any number of other creative and original business pursuits.
Tony Regisford, Executive Director of the St. Vincent and the Grenadines Chamber of Industry and Commerce, reiterated the point that once successful applicants will not have difficulty accessing a grant.
The PRYME programme expects to reach over 200 young entrepreneurs in 2020, with cash grants between $3,000 and $40,000.
Our PRYME clients will be screened and shepherded by the Centre for Enterprise Development and Invest SVG, and will also be eligible to occupy space in one of three pilot PRYME Community Enterprise Zones – small retail or service spaces that will be located in various communities nationwide.
