Samoa Businesses to Receive $10 Million in Government Covid-19 Funding Assistance
Samoa Chamber Acknowledges Government Covid-19 Assistance for the Private Sector.
The Government of Samoa showed its commitment to private sector development with a $10 million tala allocation of funds that had been tagged in its 2021-2022 Budget to assist local businesses in their efforts to combat the impacts of the Covid-19 pandemic on their operations.
The Government launched its Covid-19 Private Sector Assistance this week. A direct funding support for all eligible businesses that operated pre-covid, and continue to operate today.
A total of 6,363 eligible businesses will receive the $10 million tala allocation in two categories, with a few standard conditions..
Sole Traders and Partnerships: $1500/per business license or activity and should they have more than 4 businesses, only 4 will be funded, that is, a maximum of $6,000.00 for a sole trader or partnership that has 4 or more business licenses.
Companies: $1800/business license or activity and should they have more than 5 businesses, only 5 will be given the grant. That is, maximum of $9,000.00 for a company that has 5 or more business licenses.
The Assistance is administered by the Ministry of Commerce, Industry and Labour (MCIL) working together with the Ministry of Customs and Revenue (MCR), Ministry of Finance (MOF) and the Samoa Bureau of Statistics (SBS).
President of the Samoa Chamber of Commerce and Industry, Seulupe Michelle MacDonald thanked the Government of Samoa for their assistance
“Businesses had not recovered from the impacts of the measles epidemic when Covid-19 hit,” said Seulupe.
“This $10 million tala allocation for the private sector is a testament of Government’s committment to business growth and development, and an acknowledgment of the private sector’s crucial role to the development of Samoa’s economy by providing employment, generate taxable income, manufacture for export as well as import substitutions, and provide quality goods and services for domestic use..
“We extend our appreciation, and look forward to a continued partnership with Government to ensure an enabling business environment for all during these difficult and unprecedented times,” concluded the President of Samoa’s Chamber of Commerce and Industry.
All eligible businesses will need to fill out an application that can be uplifted from MCIL, or downloaded from the Ministry website at www.mcil.gov.ws.
Eligible businesses are required to submit copies of their business licenses for the years ended 2020 and 2021.
All businesses are also required to report back after one month of receiving their grant with a report on how their fund was utilized.
This assistsnce does not include businesses in the Tourism Industry operating accommodation services, tour operators and travel agents. The Tourism Industry Fund of $5 million tala that was launched in late 2021 covered those operators.