BEGINS

PRESS RELEASE 

PREMIER URGES TC ISLANDERS TO APPLY FOR CORONAVIRUS BUSINESS ASSISTANCE GRANT

The Government of the Turks and Caicos Islands has launched a number of financial assistance programs for individuals and businesses adversely affected by COVID-19 and the economic shut down as a result of the pandemic.

The Turks and Caicos Islands Government has by virtue of Section 11 of the Emergency Powers (Covid-19) (Economic Relief Measures) Regulations 2020 established the Coronavirus Business Assistance Grant. This relief measure makes it possible for eligible small businesses (MSMEs) and self-employed persons to access cash grants to assist with the expected economic fallout from the Coronavirus (Covid-19) pandemic.

The cash grant may be available to eligible small businesses and self-employed persons as follows:
Self-employed persons: $1,200
Micro Enterprises: $2,000 (1 to 5 employees)
Small Enterprises: $3,500 (6 to 19 employees)
Medium Enterprises: $5,000 (20 to 25 employees)

The Premier and Minister of Finance, Investment and Trade, Honourable Sharlene Cartwright-Robinson commenting on the Grant Programme stated: “The Government of the Turks and Caicos has allocated $25.5m for the Turks and Caicos Islands Stimulus Package and will use the full amount to provide assistance for its people. The Government has engineered this grant to help your businesses withstand the impact of the Coronavirus (COVID-19) pandemic as we work to encourage economic recovery across the Turks and Caicos Islands.
I encourage all eligible businesses to apply and take advantage of this beneficial assistance before the approaching deadline on Tuesday of next week. I wish to remind all that the self employed grant is for ALL businesses and not just for the hospitality sector. As stated publicly for the past weeks, whilst the first Stimulus focused heavily on the hospitality sector (which was impacted first by my Government's closure of the borders and which will be the last Phase to reopen), we are crafting a second Stimulus for employees of the other sectors that were also impacted for a shorter period by our mandatory closure of the local economy. We as a Government will continue to work to provide assistance .”

The closing date for submitting an application under the Coronavirus Business Assistance Grant is Monday 15 June 2020.

Self-employed persons and small businesses who have not yet applied to access the funding available under this Grant programme are therefore encouraged to do so before Tuesday 16 June 2020.

To view eligibility criteria and submit an online application form please visit the website of the Department of Trade, Industry and Consumer Affairs at: www.gov.tc/trade/stimulus.

END