JIS News

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has said that the long awaited Government Small Business Procurement Policy has been approved by the Cabinet.
Mr. Samuda said that, under the policy, a minimum of 15 per cent of Government procurement will be reserved for micro and small enterprises.
“These policy measures are intended to ensure that some of the Government’s business goes to the little man. This could create demand for goods and services provided by the small man, thereby creating employment,” he said.
He also stated that in order to “pump up” demand for goods and services provided by poor people, the Ministry will be embarking on an aggressive promotional campaign.
Mr. Samuda made the announcement during his contribution to the 2009/10 Budget Debate in the House of Representatives today (April 29).
“The maximum contract sizes under these policy measures are as follows: work contract, $10 million; service contract, $5 million; and goods contract, $1 million. Contracts intended for small businesses, and which range from $375,000 to $10 million, will be exempted from the need to provide a bid bond,” he said.
He further explained that a company would be designated as an eligible small business, if its auditors or accountants certify that its assets do not exceed $30 million.
“It is envisaged that the Small Business Association of Jamaica will be able to provide this service to its small businesses for free,” Mr. Samuda informed the House.
In the packaging of contracts, suitable evaluation criteria will be included to facilitate the development of local expertise, technology transfer and sub-contracting to small businesses.
The Ministry will maintain a website, which will provide basic information on contract packages earmarked for the small business sector.
The Ministry will also monitor ministries, departments and agencies to ensure conformity to the policy measures, he stated.

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