Grenada launches Development Fund Programme to support creative minds

Grenada launched the Cultural & Creative Business Development Fund Programme in order to support creative people and businesses in 2024. This program aims to enhance access to financial and technical support and empower creative individuals to excel in their artistic endeavours.

The Programme initiated by the nation’s government include the Business Support Voucher Programme, Grant Programme and Low-Interest Loans.

Notably, the Business Support Voucher Programme’s motive is to provide financial help to micro-businesses and start-ups so that they can acquire their resources. The people can receive up to $5000 per voucher. The funds must be used to acquire the necessary resources to enhance their operations. The operations include:

• Digital Marketing
• Branding and Graphic Designing
• Website development
• Technology support
• Seed funding for prototypes and concepts
• Market and product research
• Developing a business plan
• Preparing financial documentation
• Visual content creation

Moreover, the other program initiated by the administration of Grenada to extend their help to creative people and businesses is the Grant Programme.

This programme calls out all the non-profit social entrepreneurs and the programme pushes the individual’s potential further with a grant from the Grenada Office of Creative Affairs. The funds provided through this programme must be utilized for the initiatives that will make a contribution to Grenada’s cultural enrichment.

Such initiatives include:

• Attending training programmes and workshops.
• Acquiring new capital assets to enhance operational efficiency.
• Planning and executing events such as exhibitions and showcases.
• Acquiring and implementing new digital technologies.

Further, another initiative includes low-interest loans. The people can apply for the loan with an interest rate which is only 2% for up to 7 years. The citizens can use these funds for many purposes which can be:

• Starting a business.
• Promoting existing products and services.
• Developing new skills.
• Acquiring new capital assets such as equipment.
• Acquiring and implementing new digital technologies.
• Developing and launching new products and services.
• Research projects.

It is to be noted, that for accessing these services, there are certain conditions that needs to be fulfilled. The conditions include that the applicant must be a Grenadian. The person must be creatively registered with the Grenada Office of Creative Affairs along with the other applied terms and conditions.

In case of any enquiry, residents may contact at:

• 473 534 4622 (Grenada Office of Creative Affairs)
• 473 440 2382 (Grenada Development Bank)

The Grenadian may contact through email ID as well. The email id: creativeaffairs.gt