The draft policy for the micro, small and medium enterprises (MSME) sector has been completed and will be tabled in the House of Representatives next month.
This was disclosed by Minister of Industry, Investment and Commerce, Hon. Anthony Hylton earlier on May 31, as he addressed a Jamaica Chamber of Commerce (JCC) forum at the Wyndham Kingston hotel.
The Minister informed that he will be tabling the document as a Green Paper during his contribution to the Sectoral Debate in the House of Representatives on June 20, to invite public input, this will inform the final policy document.
An important element of the policy is to provide support for start-ups and early stage ventures as part of the whole thrust to increase competitiveness. Ministries and agencies of Government will also be required to procure a portion of their goods and services from micro and small enterprises.
Speaking on the theme of the forum: ‘Wealth Creation through Marketing’, Minister Hylton stated that marketing is of critical importance to the viability of businesses.
He stated that the lack of or poor implementation of an effective marketing strategy can lead to business failures, particularly among smaller enterprises.
He noted that the information communication technology revolution has provided cost effective and powerful marketing tools such as the internet and social media, and urged businesses to embrace and take advantage of these avenues to boost their operations.
Minister Hylton, in the meantime, advised that the Government has been sharpening its focus on brand development and brand protection through the Jamaica Intellectual Property Office (JIPO).
By Allan Brooks, JIS Senior Reporter