The project is funded by the European Union (EU) and the government of St. Vincent and the Grenadines.

Speaking to the Agency for Public Information (API), Manager of the Private Sector Development Project Kenny Baker said government has realized that the private sector is weak in terms of its ability to take risks, and has subsequently worked with the EU to set up the project to bolster the private sector. Mr. Baker told the API that the programme will seek to help institutions that support businesses like the Chamber of Industry and Commerce, Small Business Association and Crafts Association. He pointed out that the project is a demand driven one. "People will have to say what they want then we will build it into terms of reference and put it out for contract, so that people will bid on offering the services" Baker said.

Mr. Baker explained that monies will not be placed directly in the hands of business owners and noted that the project will offer business support services. "If you have a business and need to get data or need to upgrade your staffing, our Consultants will work with you to ensure that you come up to a certain level of capability based on the business" Baker told the API.

The Project will be officially launched on Monday at 9:00am at the Methodist Church Hall.