KSAC Awards $430,000 in Grants to Aspiring Entrepreneurs

The Kingston and St. Andrew Corporation (KSAC) has awarded $430,000 in grants to six aspiring entrepreneurs from the Corporate Area.

The grant assistance was provided under the KSAC’s Enterprise Assistance Programme, which was launched in February 2015, as part of a move by the Corporation to encourage economic growth and development.

At the presentation ceremony held at the KSAC’s downtown Kingston headquarters on Tuesday (June 16), Mayor of Kingston, Senator Dr. Angela Brown Burke, said the initiative aims to provide financial assistance, training, development and technical support to existing and aspiring entrepreneurs in Kingston and St. Andrew.

She said the objective is to contribute to community development. “If we can identify six individuals who (are trying to) earn a living, and contribute to their communities… (and) employ someone else, then that is money circulating in the community…it is not just the individuals here that are benefitting (and) and we think the money spent is worth it,” she said.

The six recipients are from diverse backgrounds with varied entrepreneurial interests ranging from farming to internet and printing services.

Awards were presented in three categories: Wage Incentive, valued at $130,000; Business Improvement, $100,000 and Start-up, $50,000.

There were four recipients of the Start-up grant – Akeem Harvey, Kedist Colliard, Racquel Layne and Tashana Radcliffe; Michael-Ann Edwards received the Business Improvement grant; and Verol Moody received the Wage Incentive award.

Business Development Officer for the Bank of Nova Scotia Jamaica Limited, Tresha Hamilton-Marshall, who was part of the selection committee, said the candidates were chosen based on their ability to present sound business plans and demonstrate the potential of the business to contribute to community development.

“In assessing the applications, we looked at a few different things… (they had to) tangibly explain how viable the venture is. The applicants also had to clearly identify how the grant will help them because it is going to be monitored, so we want to have a clear idea of how exactly they are going to be spending the money…and how the grant will enhance the venture itself,” she said.

“We also wanted to see how the business would contribute to the community (in which it will be located),” she added.

The entrepreneurs will receive technical assistance from various business development organisations to ensure the success of their operations.