Entrepreneurs Operating Informally Urged to Get Regularised – Jamaica Information Service

State Minister in the Ministry of Industry, Investment and Commerce, Hon. Delano Seiveright, is appealing to entrepreneurs who are operating informally to regularise their businesses in order to access the range of benefits and support services provided by the Government.

These include financial services, loans, training, and resources to enable them to expand and grow.

“The fact is, a lot of Jamaicans, while engaging in business activities, tend to focus more on the hustle. We are trying to ensure that people transition from hustling to actual business activities, to make it long-term and more structured,” Mr. Seiveright said in an interview with JIS News at the University of the West Indies (UWI) Pelican Pitch Series held recently at the Mona campus.

He is encouraging persons to “structure your financing, structure your arrangements, ensure that you are properly registered, because there are benefits to being structured. It opens you up to a wider field of business activities and moves you away from that unbalanced hustle mentality. You can start there but it is important that you get to the business phase”.

Mr. Seiveright said that the Government has digitised its services, making the process for formalising and operating businesses in the country seamless.

The Ministry’s website at miic.gov.jm connects entrepreneurs to a wide range of support platforms.

“All our agencies are connected to that website including the Companies Office of Jamaica (COJ) where you have to register your business, and Jamaica Promotions Corporation (JAMPRO), which is our trade and investment agency. We have Jamaica Special Economic Zone Authority (JSEZA)… for persons interested in that activity and, of course, the Jamaica Business Development Corporation (JBDC) that is very much focused on micro and small enterprises and helping entrepreneurs to find their way,” Mr. Seiveright pointed out.

He noted that the website links to services such as the Jamaica Business Gateway (JBG), which is an electronic platform designed to streamline business-to-government services.

The JBG provides information on starting a business; access to incentives; a cquiring land; obtaining construction permits; obtaining certifications and accreditations securing approvals, licences and leases; among others.

Other digital resources include the Jamaica Single Window for Trade (JSWIFT), which is an online portal for import/export licences and permits, and the Jamaica Trade Information Portal, to help persons navigate the export-import regulations.

“We also have the Export Academy, which is pretty much JAMPRO and the Trade Board working together to guide persons on how to get into export and understand the rules and how to properly engage,” Mr. Seiveright said.

The Academy is a digital training and resource platform that gives entrepreneurs the tools, knowledge and connections to help Jamaican businesses to confidently step into international markets.

“We are very much committed to ensuring that people remain informed, that the mechanisms are in place and that the online platforms are relevant and fit-for-purpose for persons who want to engage in business activities,” the State Minister said.

Source: JIS