The MSME Policy and Strategy seeks to generate wealth and improve the quality of life for more families. The policy also aims to increase better business skills, competencies and competitiveness in Grenada’s workforce.
MSME Policy and Strategy
Its purpose is to stimulate the sustainable development, growth, and expansion of viable Micro, Small, and Medium-sized Enterprises, and to create appropriate conditions for the entrepreneurial spirit and culture to flourish in urban, suburban, and non-urban communities throughout Grenada.
The main goal of the policy and strategy are creating wealth and increasing income equality for more citizens through the expansion of entrepreneurship and sustainable job creation, leading to the reduction of poverty and indigence.
The success of this Policy is premised on the achievement of seven (7) objectives:
- To establish an enabling legislative and regulatory framework.
- To improve comparative sector access to fiscal and non-fiscal incentives as codified.
- To modernize and facilitate access by MSMEs to trade information, markets, land, infrastructure and other resources (human, technological, financial) needed to respond to economic opportunities.
- To increase the flow of capital to MSMEs.
- To enhance the entrepreneurial knowledge and business skills of youths and students as well as existing MSME owners and managers.
- To promote technology-driven innovation, service excellence and competitiveness among MSMEs.
- To encourage the emergence of a vibrant and visible Lead Implementation Agency and Small Business Network, each with a full-time secretariat.