COVID Affected Restaurants to benefit from UNDP
Written by Fuze Team on June 10, 2020
Small businesses, specifically in the restaurant industry affected by COVID-19 will be given financial support through the efforts of the Government and the United Nations Development Programme, UNDP.
The government said it partnered to assist MSMEs within the restaurant industry and this initiative is part of UNDP Barbados and the Eastern Caribbean’s Economic Recovery Programme.
It will provide financial assistance of 40,000 USD to jump start 10 businesses in the BVI and equip them with the tools to transition from a face-to-face business model to a digital modus operandi.
Under the programme, business owners may use the grant for a myriad of purposes, including the purchase of food and cleaning supplies to restart the business, the payment of employees, the procurement of biodegradable containers to package food, the creation of websites and/or apps to facilitate online ordering, delivery and payment for food items and the securing of financial management assistance to streamline operations.
Government says that Micro, small and medium enterprises make a significant contribution to the economy of the BVI and it is critical to the socio-economic viability of the country that they remain operational through the slowdown caused by the global pandemic.
The Ministry of Finance says it will ensure that the MSMEs retain employees, increase their revenue, and provide satisfactory services to their customers.
It says that UNDP is working to ensure that MSMEs have the resources and develop the skills to remain viable and this initiative is part of a support package to BVI which includes an Economic Impact Assessment, soon to be released, surge support to the capacities of the Ministry of Finance and small private sector grants, like this support to BVI restaurants.
