When opportunity knocks, successful businesses act. That’s exactly what Stingrae Caribbean Limited (Stingrae) did. On February 4th, members of the Trinidad-based company joined us at our Barbados office to share how strategic investments, expert guidance, and a well-utilized grant helped them scale and expand into new markets. 

In 2022, Stingrae, value-added seafood processors and distributors were awarded a non-reimbursable grant of EUR 26,000 under the Direct Support Grant Programme (DSGP) – an initiative funded by the European Union under the 11th EDF Regional Private Sector Development Programme, designed to support business recovery post-COVID. Stingrae’s goal? To build a more competitive and efficient business model by upgrading their website, integrating back and front-end store operations, upgrading equipment and strengthening marketing and product development strategies.  

Unlocking New Potential 

The grant enabled Stingrae to hire consultants in HACCP, food safety, and process improvement. These specialists helped identify inefficiencies in the company’s processing systems and implemented critical control measures. While this required unexpected capital investment, it proved invaluable. 

Without it, Stingrae might not have been able to fully capitalize on the grant’s potential. Following expert recommendations, the company achieved a major milestone, HACCP certification, and secured plant licenses from the Ministry of Health- essential steps that opened new export opportunities across the Caribbean. 

Scaling Up: Revenue, Employment, and Innovation

Since implementing the grant, Stingrae has:

• Expanded into new markets and is now exporting to 4 Caribbean islands: Antigua, Barbados, Grenada and St. Lucia
• Hired 15 new team members, of which an estimated 90% are women and 86% are youth
• Achieved an 80-90% increase in sales
• Launched value-added products, including snapper burgers and seafood lasagna, further diversifying their product offerings.

Lessons Learned: The Power and Challenges of Grant Funding

While the Stingrae team acknowledges that they might have completed the project without the grant, they recognize that DSGP funding accelerated their progress. Instead of relying solely on internal resources, they were able to hire experts, expedite implementation, and reallocate funds for other initiatives.

However, the grant process underscored the importance of strong record-keeping. While the reporting requirements were extensive, maintaining organized and accurate records made the process more manageable. Like many small and medium-sized enterprises (SMEs), the company initially found the administrative workload demanding. However, they quickly realized that good record-keeping simplified compliance and positioned them for future opportunities. At the end of the day, paperwork is unavoidable, but having the right systems in place can make applying for grants—and securing funding—easier.

A Blueprint for Success

Stingrae’s experience shows how strategic grant utilization can drive substantial business transformation. Their investment in digitalization, expert guidance, and operational improvements positioned them as a stronger competitor in the Caribbean seafood export market.

Despite the challenges associated with grant administration, their journey underscores a valuable lesson: when businesses leverage external support effectively, they can scale, innovate, and thrive in ways they never imagined.

For other SMEs considering a similar path, the message is clear—opportunities exist, but navigating them efficiently is key to maximizing impact.