As Montserrat attempts to revitalise its private sector, consultancy inputs will be a necessary requirement if businesses of value are to be established and encouraged. The purpose of the Business Consultancy Fund is to provide limited funds for the purchase of consultancy inputs to support specific business development projects.
The Business Consultancy Fund component will be administered by the MDC and consultancy proposals will be assessed by a project group chaired by the CEO. Consultancy inputs can be utilised in a variety of ways but it is envisaged these will be used primarily for market or investment investigations or technical developments. Where possible, regional consultants should be used, and projects should be seen to give added benefit to the local economy through either job creation or added value.
It is unlikely that grants made through these funds will represent the sole contribution to any consultancy, and decisions should be made as to the maximum level of contribution that will be made to selected consultancy proposals. As funding is limited it is recommended that this contribution should not be more than 50% of the costs of the consultancy proposal.