Positive Economic Impact from MSME Business Roadshow
By: , February 24, 2025
Photo: Dave Reid
Industry, Investment and Commerce Minister, Senator the Hon. Aubyn Hill (centre) and Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, look at food items produced by local small business, Chef’s Choice. Occasion was a tour of booths at the Ministry’s recent MSME Business Roadshow at the JUICI Empowerment Park in Clarendon. Business owner, Sophia Williams, observes.The Full Story
Director General of the Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, has hailed the MSME Business Roadshow series, noting that the events are expected to have a positive impact on the Jamaican economy.
He noted that the successes derived from the execution of the events, organised by the Ministry of Industry, Investment and Commerce, are far-reaching, contributing to the national strategies and government priorities as laid out in the Medium-term Socio-economic Framework (MTF).
These include developing the capabilities of MSMEs and providing an opportunity to increase access to capital.
“The response to [the] recent roadshows has been remarkable, with both private and public-sector organisations showing strong support and more than 1,000 patrons in attendance,” Dr. Henry said.
He was addressing the recent opening of the latest roadshow held at the JUICI Empowerment Centre in Clarendon.
He said the events have been a “resounding success”, with more than 1,200 MSMEs actively engaged and sensitised about the various products and services to support the growth of their businesses.
To date, more than 20 MSMEs have won the business pitch competition and benefited from grant funding exceeding $7 million from the Development Bank of Jamaica (DBJ).
Micro entrepreneurs have received grant assistance and business development support from the DBJ, Jamaica Business Development Corporation (JBDC) and Jamaica Promotions Corporation (JAMPRO).
MSMEs have also benefited from network linkages and market access opportunities facilitated through the events.
Dr. Henry said the initiative supports the country’s growth agenda.
“It must be noted that the MSME sector plays a critical role in advancing the fundamental component of Jamaica’s economic structure as they play essential roles in promoting equity, preserving wealth, fostering economic growth, generating employment opportunities, facilitating sustainable development, encouraging employment and expanding the private sector,” he said.