Small Business Sector Benefitting from JBDC Services

Some 1,750 medium small and micro enterprises (MSMEs) are to benefit from approximately 70 business development workshops to be staged by the Jamaica Business Development Corporation (JBDC) during this financial year.

This was revealed by State Minister for Industry, Investment and Commerce, Hon. Sharon Ffolkes-Abrahams, during her contribution to the 2012/13 Sectoral Debate in the House of Representatives on July 18.

She said the JBDC also intends to on-lend some $120 million to 100 entrepreneurs in the productive sector “and have fully functioning craft and agro-processing incubators, with at least 70 incubatees,” during the current financial year.

Mrs. Ffolkes-Abrahams further encouraged MSMEs, as well as those starting new businesses, to utilise the services of the JBDC.

She said the entity continues to provide MSMEs with business development support, which is critical to their sustained growth and development.

She pointed out that during the 2011/12 financial year, the JBDC administered over 6,000 interventions to MSME clients in areas such as business advice, product development, marketing, and financial services.

"Over 1,000 clients received technical assistance in areas such as business incubation management, plant and product engineering, branding, fashion and graphic design, etcetera," she said.

Additionally, she informed that approximately 1,800 persons benefited from over 140 training sessions in areas such as record keeping, business plan preparation, costing, and money management.

"Another 192 persons benefitted from training in areas such as jewellery making, fashion, and food preparation,” she added.

By Alecia Smith-Edwards, JIS Reporter