Members of Jamaica’s small business and hotel sectors have reacted with relief to the government's announcement of an assistance package for some of their members in response to the effects of the coronavirus - COVID-19.
Finance Minister Dr Nigel Clarke on Tuesday announced that the government is spending J$800 million to provide grants to small businesses.
Small businesses with sales of less than $50 million and which filed taxes for 2019/2020 will be eligible for a $100,000 cash grant.
Separately, $1.2 billion is being made available for grants to small businesses operating in the tourism sector.
Hugh Johnson, President of the Small Business Association of Jamaica, speaking on Beyond the Headlines, conceded that it will not solve all the challenges that member companies will face, but asserted that it will very helpful.
“As Minister Clarke said, they are not setting up profit centres for people but just to ease the burden and we appreciate that greatly,” he said.
He’s therefore urging those who qualify to make the requisite applications online.