St Kitts and Nevis CIU launches Micro Business Grant, provides EC$10,000 grant to 25 businesses

St Kitts and Nevis: The Citizenship by Investment Unit (CIU) of St Kitts and Nevis has launched a new Micro Business Grant to support small business owners across the federation. This initiative has been launched in partnership with First Federal Capital.

According to the information by CIU, the grant is designed to boost entrepreneurship and provide tangible benefits to the local community. Authorities said that a total of 25 micro and small businesses will receive EC$10,000 each under the first phase of the programme.

The CIU further highlighted that the initiative aims to provide financial support to small operators who may not qualify for traditional government grants. The grant will prioritise women-led businesses across St Kitts and Nevis, with the aim of empowering females, encouraging entrepreneurship and creating more inclusive economic growth.

It also seeks to deliver training as well as development opportunities which would allow selected entrepreneurs to professionalise and grow their operations.

In addition to this, this initiative will not only underscore CIU's commitment to the community through tangible investments in local enterprises but also provide a platform to showcase the range of products First Federal offers to small business clients.

All You Need To Know About CIU’s Micro Business Grant

According to the information by the CIU, applicants must hold a valid business licence and show at least 12 months of continuous operations with eligible businesses including snackettes and landscaping services.

The CIU further stressed that preference will be given to those aligned with the Government’s Sustainable State Island Agenda.

Moreover, in order to ensure fairness, applicants who have already received a government grant within the past year will not be eligible under this grant. Successful recipients must also hold an account with First Federal where the funds will be deposited.

The funds, according to the Unit, must be used for business expenditure only including raw materials, equipment, staffing, marketing etc. Moreover, the grants will be awarded on a time basis to each business to enable the unit to maximize the number of small businesses they support, noted CIU.

The final selection of the applicants will be reportedly made by Cabinet together with the CIU Board and leadership team. To apply for this grant, the applicants are required to submit their applications through the email address of ciugrants@sknciu.com without any cost.

Notably, the application period for this new grant is open to the general public until October 15, 2025, with submissions being accepted through a short google form where applicants will provide basic details including business name, proof of licensing, and an explanation of how the funds will be used. The CIU added that referrals may also be submitted through the same process.

Also, successful applicants will be notified of the outcome no later than October 25 via email or phone which is why the applicants are required to provide a preferred contact method when they submit their applications.