Jamaican company hosts workshop on available business grants
THE Caribbean Export Development Agency (CEDA), a Jamaica-based company, has successfully conducted a one-day workshop on writing grant proposals, to educate Guyanese business persons on the opportunities available to them. The exercise, conducted at the  Pegasus Hotel on Wednesday, was hosted by the Georgetown Chamber of Commerce and Industry (GCCI).
GCCI Vice-President, Mr. Lance Hinds, who delivered the opening remarks, said the number of participants exceeded the initial target of 50 persons.
The aim was to increase awareness of the direct assistance scheme in CARIFORUM countries, to explain and illustrate, to firms, how to prepare an application for grant funding, inclusive of objectives, goals, outputs, methodology, description of activities, action plan and budget development.
In addition, it was aimed at transferring knowledge to business support organisations to deliver hands-on assistance to companies on the preparation of applications.
Hinds pledged GCCI’s commitment to bringing about improvement with regard to the local business climate.
Meanwhile, Senior Grant Advisor of CEDA, Mr. Kirk Browne, in his presentation, remarked that Caribbean peoples fail to equip themselves with the relevant knowledge and advantages by not reading.

MAJOR DOWNFALL
He said most persons prefer to receive information verbally, ignoring the facts in a document and that is a major downfall for some business people.
CEDA offers two facilities, large and small grants and will be publishing the availability of the next large grant on June 4 with a June 29 deadline.
Browne said that it is a reimbursement grant, noting that money is not given to an applicant in advance.
“You will be given a contract and you will then be authorised to incur the expenses for your activities and then you will be reimbursed,” he told the potential applicants.
Among those who can qualify for the financing should be in the tourism, agro-processing, agriculture, fashion, music, manufacturing and cosmetics business.
He emphasised that, in order for companies to be considered, they must be legally registered.
With regard to financial accountability, Browne said CEDA is not asking for audited statements, but wants documentation prepared by an accountant, showing a balance sheet, profit and loss and an income.

OBVIOUS REASONS
“If, for example, when you submit your profit and loss statement, it shows that, for the last two years, you have been suffering a loss, it does not mean that you are a bad applicant. There are lots of companies like that for obvious reasons,” he acknowledged.
Browne also explained that, at the time of submission of an application, one must be able to show that they have the capability to finance their own project and the company will reimburse the applicant, which process of reimbursement can take up to two weeks.
He said CEDA does not provide funding for university, school, civic groups or human rights organisations.
The direct assistance scheme is financed by the Regional Private Sector Development Programme (RPSPD) for CARIFORUM countries funded by the European Union (EU).
Browne said the scheme will get funds for the next five years through an agreement signed with the EU in March 2011 to continue through 2015.