HEART/NSTA Trust Providing Millions in Grant Assistance to MSMEs

The HEART/NSTA Trust has provided $21.9 million in grant assistance to entrepreneurs during the 2024/25 financial year.

Of the total, micro, small and medium-sized enterprises (MSMEs) received $8.4 million, while $13.4 million went towards supporting trainee start-ups.

“This ensures sustained financial support to empower entrepreneurs,” said Executive Director of the HEART/NSTA Trust, Dr. Taneisha Ingleton.

She was addressing the opening ceremony of the Ministry of Industry, Investment and Commerce’s MSME Business Roadshow held recently at the Church of the Open Bible in Twickenham Park, St. Catherine.

Dr. Ingleton informed that the sum represents funds carried forward from the 2023/24 financial year to support ongoing entrepreneurial projects.

During the period, 245 entrepreneurs received MSME grant funding to support a diverse range of initiatives.

These include 100 trainee start-ups, 13 MSMEs, 32 incubatees, and 100 rural youth economic empowerment programme (RYEEP) participants.

The total accrued funding for MSMEs amounted to $12.7 million, with trainee start-ups receiving $29.9 million.

For the period April to December 2024, a total of 119 entrepreneurs benefited from funding, continuing the Trust’s strong support for entrepreneurship, innovation and business development.

These include 57 trainee start-ups, eight MSMEs, 25 incubatees, and 100 rural RYEEP beneficiaries, demonstrating the Trusts’ focus on nurturing early-stage businesses and entrepreneurial talent.

Dr. Ingleton informed that for the 2024/25 fiscal year to date, funds allocated to trainee startups total $6.7 million ensuring continued investments in new ventures.

“While we are having fewer disbursements compared to previous years the overall strategy remains focused on providing meaningful support to the growing entrepreneurial eco system,” she said.

“At the HEART/NSTA Trust we are deeply committed to supporting the growth and success of Jamaica’s MSMEs.

We understand that MSMEs are the lifeblood of our economy creating jobs, providing essential services, driving innovation and strengthening communities.

Our mission is to provide the tools, skills and opportunities to enable individuals and businesses within the MSME sector to succeed,” she emphasised.

Source: JIS