Industry Minister Calls on MSMEs to Embrace Digital Transformation

Micro, small, and medium-sized enterprises (MSMEs) are being urged to embrace digital transformation to remain competitive in the global economy.

Delivering the keynote address at the Digital Jamaica Summit and Showcase, held recently at The Jamaica Pegasus hotel in Kingston, Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, underscored the critical role of digital transformation in Jamaica’s future economic success.

“In the rapidly evolving global environment, embracing digitisation, digitalisation, and digital transformation is necessary, as technological advancement holds the key to unlocking new levels of efficiency, productivity and innovation,” Minister Hill said.

He also noted that productivity is achieved when technology is utilised to streamline processes and eliminate inefficiencies, leading to greater output.

Senator Hill emphasised that Jamaica must not limit its ambitions to local markets alone but should aim to increase per-capita income by seeking new markets globally.

“We are not going to get rich selling to only three million people. We have to explore new markets across the world,” he urged.

To ensure that MSMEs can tap into new markets, Jamaica, through the Jamaica Business Development Corporation (JBDC), is collaborating with the European Union (EU) to increase equitable access to information and communications technology (ICT) throughout the country as the nation transitions towards a digital society.

This is being achieved through a €9.5-million initiative, dubbed ‘Digital Jamaica’, which is funded by the EU.

The programme, officially launched in October 2023, focuses on two core goals – expanding broadband connectivity across the island, and providing essential digital skills training to those in the education and business sectors.

The partnership between the Government and the European Union was lauded by Minister Hill as a timely and vital investment in Jamaica’s digital transformation journey.

“This digitisation programme with the EU is essential, as Jamaica is on a path to becoming a fully connected and digitised economy, poised to harness the power of technology for economic growth and development,” Senator Hill said.

Highlighting the significance of the European Union’s investment in Jamaica’s MSME sector, he urged stakeholders to use this support efficiently to ensure that Jamaican goods and services meet global standards, one such way being the proper packaging of goods for export.

MSMEs were also encouraged to adopt digital tools from the outset, particularly for managing human resources (HR) and accounting.

“Even if you have a small business, start by putting your HR and accounting on a digital platform. Don’t wait, you’ll only create more paperwork to input manually later,” the minister said.

The programme is expected to significantly benefit key sectors, including ICT, education, and MSMEs.

Senator Hill noted that 32.4 per cent of Jamaican MSMEs are currently using digital technology, while 16.4 per cent remain unaware of the benefits of digitalisation in improving their operations.

To address this gap, the Ministry, in collaboration with the JBDC, aims to train and certify 2,700 MSME beneficiaries over the next two years.

The Digital Jamaica Summit and Showcase served as a key platform for stakeholders to discuss and explore opportunities for digital transformation in Jamaica’s MSME sector, aligning with the country’s broader national development goals.

Source: JIS