Jamaica’s expenditure on imports during the 2020 calendar year fell by 26.4 per cent to US$4.76 billion, relative to the previous year. This was disclosed by Director General of the Statistical Institute of Jamaica (STATIN), Carol Coy, during the entity’s digital quarterly briefing on Thursday (April 15). Ms. Coy said the decline was largely attributed to lower imports of fuel...

The Honey Bun Foundation has launched the Gapp App, a business diagnostic tool that will enable micro, small and medium-sized enterprises (MSMEs) to understand the areas of their business that require improvements. The application, which was launched virtually on Wednesday, April 14, will be available on Android and IOS app stores free of charge. It will make recommendations on how...

The House of Representatives on Tuesday (April 13) passed the Tobacco Industry Regulations (Validation and Indemnity) (Repeal) Act 2021. Piloting the Bill, Minister of Agriculture and Fisheries, Hon. Floyd Green, said the Bill emerges from a decision of Cabinet in 2019 giving approval for the repeal of the Tobacco Industry Regulations Act and the issuing of drafting instructions to the...

Operators of micro, small and medium-sized enterprises (MSMEs) are being encouraged to learn more about creating pension plans for their employees. Speaking at a recent Jamaica Business Development Corporation (JBDC) ‘Virtual Biz Zone’ session under the theme ‘The Importance and Benefits of Pensions for MSMEs’, Assistant Manager for Pension Administration at JN Fund Managers Limited, Roxanne Wizzart, said it is...

Prime Minister, the Most Hon. Andrew Holness, says that more new companies and businesses were registered in the 2020/21 financial year than at any other time in the country’s history. “This says something about what is happening with small businesses and people seeking to formalise themselves in the economy,” he said, in his contribution to the 2021/22 Budget Debate in...

The Development Bank of Jamaica (DBJ) will be launching its ‘Go Digital’ technical assistance programme on April 1, geared at promoting the adoption of cutting-edge technology practices among micro, small and medium-sized enterprises (MSMEs). This was disclosed by Prime Minister, the Most Hon. Andrew Holness, during his contribution to the 2021/22 Budget Debate in the House of Representatives, on March...

Micro, small and medium-sized enterprises (MSMEs) operating in the food industry are among stakeholders to benefit from capacity-building interventions, including improved market access, under the National Certification Body of Jamaica (NCBJ) Food Safety Management System Expansion Project. Funded by the European Union (EU), the initiative, which was officially launched during a virtual ceremony on Tuesday (March 17), seeks to improve...