JBDC to get more financial resources-Shaw

Industry, Commerce, Agriculture and Fisheries Minister, Hon. Audley Shaw, says more financial resources will be allocated to the Jamaica Business Development Corporation (JBDC).
Making the disclosure, the Minister commended the JBDC for the role it has played in providing business support services to the local Micro, Small and Medium-sized Enterprises (MSMEs).
“It is clearly having a positive impact (the role) and what I want to ensure is that working along with our other Ministries and colleagues, we find the ways to increase your capacity,” he said.
The Minister was addressing the launch of the 12th annual JBDC Small Business Expo and Conference, at The Jamaica Pegasus hotel in New Kingston on May 14.
The conference and expo, which continues today (May 15), is being held under the theme ‘Monetising the Orange Economy: The future is Creative’.
Described as the cultural and creative industries, the orange economy refers to those activities such as: architecture, audiovisual arts, digital services, fashion, graphic and industrial design, handcrafts, music and software.
According to the Inter-American Development Bank (IDB), in 2015 the industries generated more than US$124 billion in revenues and provided jobs to more than 1.9 million people in the Caribbean and Latin American region.
Meanwhile, in her remarks, Chief Executive Officer (CEO) of the JBDC, Valerie Veira said that it is time to focus on the orange economy as it is fundamental to other critical industries to the island such as tourism.
She said the conference will focus on identification of assets under the orange economy, its protection and its monetisation.
“We read too often of musicians who later on in life have a problem surviving but have been fabulous throughout the course of their lives and we need to change that,” she said.
Ms. Veira lauded Sagicor Bank for partnering with the JBDC on the conference as title sponsor and is in the process of crafting financial products which will appeal to those industry players.
An agency of the Industry, Commerce, Agriculture and Fisheries Ministry, the JBDC, which was established in 2001, provides guidance for business start-ups and expansion, offering sound advice, consultation, research services and business monitoring.
Additionally, it provides training and capacity building, project management services, financial advice, design and product development as well as market penetration support and access.
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