When the Youth Economy Agency (YEA) launched its grant programme three years ago, applications flooded in. With only two officers processing requests, the new agency quickly found itself overwhelmed, and some applicants were left waiting in silence.
Chief Executive Officer Bryan Vidal said the processing of grants never stopped, but the backlog eventually forced the agency to suspend new applications.
“We continued to assist people in critical situations,” he said, noting that only about 13 entrepreneurs received emergency support during that period.
Since July, the agency has rebuilt capacity. Its grant department now has nine dedicated staff members, new technology has automated parts of the system, and operations, Vidal said, are moving forward.
The YEA’s impact, he added, stretches beyond grants.
“To date, we have processed over 1,505 grants, about six loans, trained over 880 people, and facilitated mentorship for 126,” Vidal said. The agency estimates it has injected more than $9.6 million into the economy.
Grants average $3 000, with a maximum of $5 000, while loans can reach $30 000. The agency also offers training in areas like bookkeeping, customer service, and digital marketing.
YEA’s mission is to counter youth unemployment by giving entrepreneurs the kind of support often provided by family in other contexts.
“When you watch a lot of successful entrepreneurs — the Donald Trumps, Elon Musks, Jeff Bezoses — they often say they had significant support from family. What the Youth Economy does is act in that kind of role, providing access to finance via loans and grants.”
For some, the support has been transformative. Quinn St. Juste, a podcaster and multimedia journalist at the St. Lucia Times, said the YEA grant he received last year allowed him to expand his operation through merchandising and technical upgrades. Another recipient, a young block maker, was able to purchase a machine that replaced time-consuming manual production and helped him grow his business and employ others.
Although grants are generally issued on a first-come, first-served basis, Vidal said the agency also applies a risk-based assessment, prioritising businesses facing urgent threats to survival. Applications include interviews and site visits. While funds are not always disbursed in cash, equipment is often purchased on behalf of grantees to ensure accountability.
The agency reports regularly to the Caribbean Development Bank, the Ministry of Economic Development, and its board of directors. It has also sought to make services accessible by allowing on-site application processing at their office in Castries and holding outreach sessions in communities such as Anse La Raye, Choiseul, Vieux Fort and Soufrière, where applications are processed on the spot.
“The idea is that in the next five, ten, 20 years, you have self-employed individuals who will continue to make significant economic impact,” Vidal said.
