Selected MSMEs to Benefit from JBDC Initiative

Specifically selected entrepreneurs within the micro, small and medium-sized enterprise (MSME) sector are to benefit from continued development support under Phase 2 of the Jamaica Business Development Corporation’s (JBDC) Mobile Business Clinic Initiative (MBCI).

The new phase of the initiative was officially launched yesterday (April 12) during a ceremony to unveil the JBDC’s 2017 programmes, at the Terra Nova All-Suite Hotel in St. Andrew.

Implemented in 2014, this three-year initiative involves the decentralisation of business development services geared at reaching a wider group of MSMEs in new and existing industries and sectors.

To be executed in six regions islandwide, and staged under the theme ‘Converting Capacity to Currency’, this next series of clinics will focus primarily on high-growth potential entrepreneurs within the MSME sector, who will be specially invited to attend the sessions.

The first clinic, which is slated to be held in May in Manchester, will target MSMEs from Manchester and St. Elizabeth. Some of the areas to be covered include: financial literacy, small-business law, youth entrepreneurship, family-owned businesses, trade policy, value-chain management and new business opportunities.

Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda, in his greetings at the event, commended the JBDC for its continued work to transform the small-business sector, through the business clinics and other initiatives.

The Minister noted that the guidance prospective young players in the small-business sector have received from the agency has helped to ensure the success of these entities.

He noted that 80 per cent of small businesses fail because of a lack of education about how to do business, noting that businesses start on the right path by operators being trained in the art of doing business, which the JBDC facilitates.

Under Phase 1 of the MBCI, the agency, in partnership with several government and private-sector entities, was able to reach 2,400 MSMEs islandwide.

The main objectives of the programme are to facilitate business formalisation; market access and market entry; to increase awareness of business development services; to provide training; capacity development and technical support; to promote sound entrepreneurial practices through public education programmes; and to educate MSMEs about the Government’s reform agenda benefiting the sector.

During the event, the JBDC also launched the 10th staging of its annual Small Business Expo and Conference which is scheduled for Thursday (May 11) at The Jamaica Pegasus hotel in New Kingston. It will be held under the theme ‘Think Big. Scale Up. Go Global’.

The JBDC, which is an agency of the Industry Ministry, was established in 2001 as the premier government agency providing business development services for MSMEs.

It provides guidance for business start-up and expansion, offering business advice and consultation, research services, business monitoring, training and capacity building, project management services, financial advice, design and product development as well as market penetration support and access.