Apr 08 - Business Nurturing Scheme Launched
The Government has today announced the start of the Gibraltar Business Nurturing Scheme (GBNS) which will see the establishment of a £250,000 fund to support the development of new business start-ups in Gibraltar. Loans to eligible businesses will be charged at a fixed interest rate of 2% with a maximum amount of £25,000 available for each successful applicant.
The Ministry of Business and Employment has engaged extensively with the Gibraltar Chamber of Commerce and the Gibraltar Federation of Small Businesses to develop this initiative, in particular, the criteria to be adopted when deciding applications.
Applications for the scheme will be assessed on a points-based system by a committee of three individuals, comprising one member of the Gibraltar Chamber of Commerce, one from the Gibraltar Federation of Small Businesses and an official from the Ministry of Business and Employment.
Commenting on the above, the Minister for Business and Employment, Neil Costa said: ‘It may be challenging for individuals without access to finance to start their own business. Some may have very good commercial ideas, but without funding, they would not even be able to take the very first step. I am, therefore, very pleased to announce that Her Majesty’s Government of Gibraltar will be able to offer the opportunity to members of the public to start their own commercial enterprises or to help those small businesses who wish to expand.’
For further information please contact the Business Support Unit on 20065396 or via e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.
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