Tuesday, Jun 2, 2020
HomeBusinessGBPA spearheads economic stimulus initiative

GBPA spearheads economic stimulus initiative

FREEPORT, Grand Bahama – A recent partnership between The Bahamas Red Cross Society (BRCS) and the Grand Bahama Port Authority, Limited (GBPA) will offer much-needed economic stimulus to Grand Bahama through a grant program for the island’s smallest businesses.

The partnership provides small business recovery (SBR) grants to qualifying micro-businesses and vendor permit holders throughout Grand Bahama who were affected by Hurricane Dorian. The program will award approximately 80 qualifying businesses with grants of up to $6,000 each to assist with reopening businesses and maintaining employment for Grand Bahamians.

“Following Hurricane Dorian, hundreds of businesses were forced to close their doors due to the level of mass devastation,” said GBPA President Ian Rolle. “Now, as the country prepares for and eagerly awaits the gradual reopening of the local economy, SBR grants will assist qualifying businesses in their rebuilding efforts.”

Director General of The Bahamas Red Cross Society Sean Brennen said he is pleased to partner with GBPA to support economic recovery throughout The Bahamas. “Such initiatives are consistent with the guidelines and mission of the Red Cross, which include preventing and alleviating suffering wherever it may be found, to protect life and health and ensure respect for the human being and to work for the prevention of disease and the promotion of health and social welfare. Given the ongoing economic challenges our country continues to face, this is a significant step forward in helping to ensure a measure of sustainability.”

Launched on Friday, May 1, 2020, the program is open to applications through its website, www.sbrgrants.com. In addition to funding, successful applicants will receive mandatory finance, marketing and disaster preparedness training coordinated by the Invest Grand Bahama Small Business Bureau. They will also have the option of registering with the Grand Bahama Chamber of Commerce for a free one-year membership.

“Dorian was an unprecedented climatic event,” explained Derek Newbold, senior manager of business development for GBPA and Invest Grand Bahama. “While many businesses continue to be challenged with recovering, we know that micro and small businesses including fishing, farming, handicrafts and souvenirs, food and small services or sales are facing an even greater task. Their recovery is critical to our economy. GBPA is pleased to partner with The Bahamas Red Cross Society on this very beneficial initiative, and we are thankful for the much-needed support it will provide to local businesses.”

Interested persons are urged to visit www.sbrgrants.com for further information on the program, eligibility, application requirements and more.

FOLLOW US ON:
Swimmers embracing 
Johnson: Substantive