JIS News

The Jamaica Business Development Centre (JBDC) has received approximately $54 million in Government grants, to help reduce the number of failures of business start-ups with value-added potential.
According to the 2009/10 Estimates of Expenditure, the grant will go towards the Incubator and Entrepreneurial Production Enterprises Project in the Ministry of Industry, Investments and Commerce.Supported by funding from the International Fund for Agricultural Development(IFAD), the project is to facilitate the creation of sustainable employment, among marginal individuals in depressed communities, and to expand the demand for goods and services produced by micro and small enterprises.
The targets for fiscal year 2009/10 are: establishment of project management unit and project steering committee; Memorandum of Understanding with operators of private business incubators and entrepreneurial production centres; procurement of equipment; business planning and documentation; provision of accommodation and infrastructure; recruitment and training of staff; provision of technical assistance to tenants; management of field work in implementation of incubators; Terms of Reference for and contracting of a promotion firm, and implementation of a promotional programme.
As at February 2009, the project has established privately operated micro business incubators and entrepreneurial production centres, as well as provide technical assistance and other business resource activities and displayed fashion designs and craft items at the Entrepreneurial Production Centre.

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