MSME Operators Urged to Formalise Their Businesses

Micro, Small and Medium Sized Enterprise (MSME) operators have been urged to take immediate steps to formalise their businesses, by Industry, Investment and Commerce Minister, Hon. Anthony Hylton.

Speaking at the launch of the Jamaica Business Development Corporation (JBDC) Mobile Business Clinic Initiative in Savanna-la-Mar, Westmoreland, on January 27, the Minister said once members of the sector formalise their operations, they will be able to access tremendous benefits, both locally and internationally.

“Some of you believe it is cool or it is the thing to do to remain informal and thereby invisible. It is not a good thing. If you remain invisible, then some of the help that can be facilitated by Government…you will simply not be able to access,” he warned.

Mr. Hylton said the Ministry will also be moving to encourage MSMEs to start thinking globally, even if they continue to act locally. This will be done using various methods.

“We want to build increased awareness of current business development services…provide training, capacity building, and technical training. We can no longer limit ourselves to the market in our communities and country as a whole. Today, the world is your market, no matter how small your business may be,” the Minister emphasised.

The Mobile Business Clinic Initiative, which ends in Savanna-la-Mar on Thursday, January 29, is being staged under the theme: Strengthening the capacity of Jamaican MSMEs’.