St Kitts: PM Announces $5 Million in Financial Support Coming for Small Businesses

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(Stkittsnevisobserver.com) – Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris, announced he will seek Cabinet’s approval to pump some $5 million into the Development Bank of St. Kitts and Nevis to further boost the advancement of small enterprises in the Federation while addressing a town hall meeting held at the McKnight Community Center on Tuesday.

“This will give the necessary wherewithal to the young man or young woman whose business needs that boost,” the prime minister said.

Dr. Harris said the Cabinet will determine the threshold for borrowing but noted that “we will make $5 million available…for the people who are going to make a difference in St. Kitts and Nevis.”

Earlier on Tuesday, the prime minister and a host of his Cabinet colleagues were on hand at Independence Square where the first National Small Business Tuesday expo was successfully staged, and Dr. Harris said he was highly impressed with many young persons who have put their creativity and ingenuity to good use by undertaking their very own businesses.

“I saw a lady with the African wear; I saw tea products; I saw a young man producing ICT services; I saw a young entrepreneur…who is now involved in air conditioning and now involved in providing supplies to deal with molds everywhere and I felt pleased to see them,” he said.

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