Business Link Pacific (BLP), a private sector development programme delivered by DT Global and funded by the New Zealand Ministry of Foreign Affairs and Trade (MFAT), has announced the availability of new Business Support Grants for Small and Medium-Sized Enterprises (SMEs) in the Solomon Islands.
The Business Support Grants are designed to stimulate SME growth, innovation, access to finance, and investment in social inclusion and climate action. SMEs in Solomon Islands can present proposals that meet the criteria of at least 1 of the following 5 categories:
- Innovation: grant will be used to drive innovation within the business
- Growth: grant will used to drive business growth
- Inclusion: grant will be used to increase inclusiveness within and by the business
- Climate: grant will mitigate, adapt, or increase resilience to climate change
- Finance: grant will be used to secure additional finance e.g., equity for a loan To apply, businesses must submit a proposal that outlines the project they are proposing to undertake, the expected outcomes of the project, and the financial resources they are seeking. Proposals will be evaluated based on their alignment with at least 1 of the 5 grant categories mentioned above, as well as the feasibility of the project, the sustainability of the project, and the quality of the proposal. Grants will be awarded based on business size and other factors. As a guide, businesses with up to 5 employees are eligible for grants up to NZD 5,000 equivalent, and businesses with up to 10 employees are eligible for up to NZD 10,000 equivalent. Businesses with 20 employees or more can apply for grants up to NZD 20,000 equivalent. Businesses with up to 50 employees can apply for grants up to NZD 30,000 equivalent. BLP encourages applications from women, youth, indigenous entrepreneurs, and community-led businesses. Guidelines and full criteria can be found on the BLP website https://businesslinkpacific.com. The Solomon Island Small Business Enterprise Centre (SISBEC) will assist with the submission of applications. SMEs that require assistance to access the internet or computers should contact Solomon Islands Small Business Enterprise Centre (SISBEC) to be supported. “We are excited to announce the availability of these new Business Support Grants, to support local businesses with their innovation and growth projects. We know that grants can boost SMEs capacity to access finance, increase employment and invest in critical issues such as climate resilience,” said Steve Knapp, director of BLP.
“New Zealand is committed to supporting small and medium enterprises to flourish throughout Solomon
Islands” said New Zealand High Commissioner, Jonathan Schwass, “The BLP Business Support Grants will help Solomon Islands businesses, including tourism, to innovate and grow and become more resilient to climate risks that are affecting the Pacific”.