Business Roadshow Reaches More Than 1,200 MSMEs

More than 1,200 micro, small and medium-sized enterprises (MSMEs) have benefited from the Ministry of Industry, Investment and Commerce’s MSME Business Roadshow, to date.

Launched in 2023 in collaboration with the Inter-American Development Bank (IDB), the roadshow initiative aims to equip MSME owners across the island with the tools to grow their businesses and enter the export market.

This is through capacity-building support; access to public services, financing and technological solutions; providing opportunities for strategic networking; and fostering greater connectivity between markets and customers.

“We want to introduce these operators to the valuable technical assistance provided by the Ministry and its agencies as well as to encourage and get these firms export- ready,” said Senior Director in the MSME Division in the Ministry, Dwayne Haynes.

“It is all part of creating that ecosystem or one-stop-shop for MSMEs to take advantage of opportunities that are available to them,” he added.

Mr. Haynes was speaking to JIS News at the first roadshow for the year held on January 16 at the Twickenham Park Church of the Open Bible in St. Catherine. The event marked the start of the second phase of the initiative.

Mr. Haynes said there has been “an overwhelmingly positive response” to the roadshow.

He said that an important objective of the events is to get MSMEs to formalise their operations.

“We want to capture more of these operators. We want to have roadshows in every single parish to let them know we are here to help. Whatever grants, initiatives, incentives we can provide or assistance to make the bureaucratic process easier and, therefore, make it easier for businesses to access these opportunities, we are here to help. There are a lot of businesses in the island; we will meet you where you are,” he said.

Business operators who attend the MSME Business Roadshow can win cash grants to improve their operations by participating in a business pitch competition.

For this year, 10 winners will be awarded grants of $400,000 each.

Main sponsor, IDB, is providing $7 million towards funding the roadshow events. The Development Bank of Jamaica (DBJ) is supporting the business pitch competition, with an initial sum of $1.5 million already provided.

The roadshow will next travel to the Juici Empowerment Park in Clarendon on February 20 and St. Elizabeth Technical High School in Santa Cruz on March 6.

“We are doing three before the end of the fiscal year in March and then we are going to continue with the other parishes in April that we have not yet visited,” Mr. Haynes advised.

Source: JIS