The Enterprise Assistance Grant Programme (E.A.G.P.) was established to assist in the jump-start of micro and meso enterprises on the island of Tobago. It was realised that under-capitalization and the lack of market research are critical factors contributing to business failure. As such, the E.A.G.P. can be utilized for the acquisition of capital assets which add value to the business venture and by extension promotes the project’s economic viability and sustainability. In addition to which, Grant recipients would also benefit from the Mandatory Business Training which aids in alleviating some of the issues relating to the lack of business research, customer service, as well as bookkeeping and budgeting.
Fund Objective
Since the Business Development Unit sees itself as a partner with all other stakeholders in the development of the economic landscape of Tobago, the E.A.G.P will focus on:
- Environmental sustainability
- Improve the value chain of businesses in the micro and meso sector
- Expand the base of economic activity – diversification
- Develop entrepreneurs through the injection of fund capital
- Allow for creative and innovative ideas to be converted to business success
Fund Limit
The Enterprise Assistance Grant Programme will provide funding for approved business projects up to a maximum of twenty-five thousand ($25,000.00).
Target Market
To ensure that the duplication of services is minimized and that access is afforded to the disenfranchised, the following would be targeted:
- Micro and Meso Entrepreneurs
- MUST, YTEPP,CCC Graduates, YAPPA, CEPEP employees
- University Graduates (UWI, UTT, COSTAAT, TTHTI)
- Village Councils, Churches and other NGOs
- Food Card recipients and other social services support groups
Sector Target
Although the list is not exhaustive, applications in the following areas will be encouraged:
- Small scale garment manufacturing and tailoring
- Preparation of baked goods
- Marketing and or Advertising services
- Small scale farming and agro processing
- Manufacturing
- Motor vehicle repairs – not for stocking spare parts for resale
- Landscaping & Horticulture
- Personal Health care
