Enterprises to Benefit from Launch of JEF-YEA Business Development Centre

Jamaican entrepreneurs and businesses are set to benefit from greater access to practical support, following the launch of the Jamaica Employers’ Federation (JEF)-Young Entrepreneurs Association of Jamaica (YEA) Business Development Centre.

The facility, launched on Monday (September 14), is an affordable and accessible one-stop hub to support business growth and competitiveness by connecting entrepreneurs and employers with professional expertise, training, mentorship, Government services, financing, procurement and market opportunities.

In a release issued by the Ministry of Industry, Investment and Commerce, Minister of State, Hon. Delano Seiveright, welcomed the initiative, noting the need for renewed focus on building Jamaican enterprises capable of growing and competing internationally.

“Jamaica does not simply need more businesses. We need better, stronger, more productive, more resilient, export-ready, [and] ultimately, Jamaican businesses capable of competing successfully anywhere in the world,” he said.

Mr. Seiveright noted, further, that the Centre can also play an important role in helping entrepreneurs to strengthen the systems and capabilities needed to capitalise on opportunities locally and overseas.

“Many businesses don’t fail because the entrepreneur lacked a good idea. They fail because of weaknesses in execution, systems, management, cash flow, governance, technology and market access,” he said.

“A small business should not have to wait until it becomes a large business before it learns how to operate like one. Build those disciplines early,” he added.

Through the Centre, businesses will receive support to overcome practical barriers to growth, such as weaknesses in internal systems and management practices.

Mr. Seiveright said the Centre should complement, rather than duplicate, existing Government business-support services and could serve as an effective entry point into the wider ecosystem.

This includes potential connections with the Jamaica Business Development Corporation (JBDC), JAMPRO, EX-IM Bank, Bureau of Standards Jamaica, Jamaica Intellectual Property Office (JIPO) and the Companies Office of Jamaica, among others.

The initiative marks YEA’s 20th anniversary and renews its partnership with the JEF, through which it was established, combining YEA’s entrepreneurship network with JEF’s expertise in employer services, human resource development, industrial relations and workplace solutions.

Mr. Seiveright said the partnership supports the Government’s wider objective of creating pathways for Jamaican enterprises to progress from micro and small businesses into larger, more competitive companies.

“We must create pathways for micro businesses to become small businesses; small businesses to become medium businesses; medium businesses to become large businesses; and Jamaican businesses of every size to become globally competitive,” he emphasised.

The State Minister also challenged entrepreneurs to look beyond Jamaica’s domestic market and position their businesses to take advantage of emerging opportunities in technology, exports, reconstruction, global supply chains and other areas.

“Being a small country does not require us to think small. So, let us build Jamaican businesses that are productive, resilient, technologically capable, export-oriented and globally ambitious,” he said.