NewzKINGSTON, Jamaica — The Jamaica Business Development Corporation (JBDC) is turning its attention to the next phase of support for micro, small and medium-sized enterprises (MSMEs), with greater focus on helping businesses move from capacity building into market readiness, sustainable market access and growth. The corporation last week engaged representatives of the MSME Alliance, Small Business Association of Jamaica (SBAJ), and Young Entrepreneurs Association (YEA) as it examines how existing programmes, partnerships and resources can deliver stronger results for businesses. Speaking during the high-level meeting held at the JBDC’s head office, Chief Executive Officer Daenia Ashpole said the impact of MSME support must ultimately be reflected in the experience of entrepreneurs and the wider economy.
“Collectively, we bear the responsibility of not just saying we're doing so, but having entrepreneurs and the business community and the economy feel it. And I take personal responsibility,” a press release quoted Ashpole as saying. The discussion gave industry representatives an opportunity to identify areas where greater attention could help businesses move beyond starting to commercial growth.
Young Entrepreneurs Association (YEA), President Cordell Williams said significant work has already been done in developing the capacity of entrepreneurs, but sustainable access to markets and cash flow remain critical to their ability to grow. Williams identified the services sector and exports among areas with further growth potential, pointing to YEA’s work around market entry into Ghana and West Africa. She said support should increasingly focus on ensuring entrepreneurs have the capacity, capability and access needed to become market ready and pursue opportunities locally and internationally.
“We don't want to be doing a lot of activity that goes nowhere,” Williams said, calling for a more targeted approach to the sectors being supported. The discussions also examined opportunities to build on existing programmes and partnerships, including JBDC’s Small Business Development Centre (SBDC) Network. MSME Alliance Council Member, Mohan Beckford further pointed to stronger data collection an…
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