Entrepreneurs Urged To Prepare For Economic Upturn

Small business entrepreneurs are being urged to prepare and position their operations to take advantage of opportunities expected to emerge in areas such as tourism, when the current global economic climate improves.
Minister without Portfolio in the Ministry of Finance and the Public Service, Senator Don Wehby, described as “fantastic” the opportunities which current developments, particularly in tourism, present, against the significant levels of investments by stakeholders such as the Spanish resort chains.
One such project, which he said is being facilitated, is the US$1.8 billion Celebrations Jamaica development at Rose Hall in St. James, which will provide upwards of 2000 additional rooms when completed. Another is the Tavistock development at Harmony Cove in Trelawny, being undertaken by American interests, which should see between US$1 billion and US$2 billion being invested into the provision of an additional 8,500 rooms.
“The size of these investments and the amount of employment opportunities is mind boggling. But the opportunities don’t only come with being employed to Celebration or Tavistock. There is going to be a huge upside, in terms of small businesses providing services and goods to these ventures,” Senator Wehby pointed out.
He said that in perusing the area and potential for growth locally, it is safe to conclude that, despite the challenges globally, with markets being down, they are expected to rebound.
“My position is that, when markets are down, that is the time to prepare for when they are going to come back up. As a small business person, I would be thinking and would want to know what goods and services I can provide to this area of growth. Business people have to realise what their priorities are, and (plan) where they want to be,” Senator Wehby stated.