JIS News

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  • Minister of Finance and the Public Service, Hon. Audley Shaw, says he continues to be impressed with the growing success of the Junior Stock Exchange, noting that it has provided impetus for a number of small and medium-sized businesses.
  • “The Junior Stock Market gives small and medium sized businesses the best chance to raise capital and to get themselves on the right footing,” the Minister noted.
  • The Junior Stock Exchange was launched on April 1, 2009, through the collaborative efforts of the Government and the Financial Services Commission.

Minister of Finance and the Public Service, Hon. Audley Shaw, says he continues to be impressed with the growing success of the Junior Stock Exchange, noting that it has provided impetus for a number of small and medium-sized businesses.

Speaking to JIS News following the groundbreaking ceremony for the National Commercial Bank (NCB) complex at Fairview, Montego Bay, in St. James, on August 12, Mr. Shaw said the market has also provided access to equity capital for dozens of growing businesses, including a number of those involved in manufacturing.

“The Junior Stock Market gives small and medium sized businesses the best chance to raise capital and to get themselves on the right footing,” the Minister noted.

“I have said repeatedly that the Junior Stock Market has proved to be both a ray of hope and a catalyst for growth to many entrepreneurs.  Look at what it has done for Dolphin Cove and Knutsford Express. Dolphin Cove, the last time I checked, has branched off internationally and is doing wonders,” he added.

The Minister said he is encouraging more businesses to join the Junior Stock Exchange, as it is a powerful tool for new start-ups or for those who are expanding their businesses.

He said it is incumbent on all stakeholders to play their part in ensuring that the business climate remains attractive and open to new investors.

The Junior Stock Exchange was launched on April 1, 2009, through the collaborative efforts of the Government and the Financial Services Commission.

The main idea was to encourage and promote investment in Jamaica’s entrepreneurship, employment and economic development by allowing investors to put capital into legitimate small and medium-sized enterprises, whose shares trade on a special Jamaica Stock Exchange platform.

Meanwhile, Oliver Townsend, owner of Knutsford Express, also lauded the Junior Stock Market, noting that it has been a big plus for his company. He informed that his bus routes now cover most of the major towns in the island, with the ultimate goal being “to have a presence everywhere”.

“Port Antonio is our newest route and it has started to pick up. Our job is to continue to convince people that we are the most comfortable and convenient means of travelling and that our rates are very affordable.”