MSME Conference an opportunity to build regional partnerships – Green

State Minister in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, says the upcoming Caribbean Micro, Small and Medium-sized Enterprise (MSME) Conference is an opportunity for partnerships to be built with other small businesses within the region.

He noted that the structure of this year’s conference demonstrates an awareness of the issues and challenges facing the sector; the need for MSMEs to capitalize on the opportunities emerging in the regional market space as well as the fact that as a region we can learn from each other.

“I think it is high time for the small players within the region to get to know each other, to come together and to forge a path for themselves, along with the regional Governments, to get businesses among themselves moving,” Minister Green said.

Minister Green was speaking at the media launch of the Caribbean MSME Conference 2019 at the Ministry’s St. Lucia Avenue offices, on Wednesday, March 20, 2019, hosted by the Small Business Association of Jamaica in collaboration with the MSME Division of the Ministry of Industry, Commerce, Agriculture and Fisheries.

This year’s conference will be held April 16-18, 2019, at the Jamaica Pegasus hotel, Kingston, under the theme ‘Improving Sustainability Through Resource Development’.
Minister Green took the opportunity to highlight some of the Government’s 2018 MSME and Entrepreneurship Policy and spoke to the strategic moves of the Government to facilitate the small business sector.
“In keeping with our MSME policy and action items, I expect that over the course of the next few months the Minister of Finance will come to parliament with the regulations for the preferential Government procurement guidelines for MSME. For us here at MICAF, this will be a major step and will provide a tremendous boast for the sector by ensuring that they have preferred access to Government procurement,” the Minister stated.
He further stated that MSMEs are major contributors to employment and growth worldwide and contribute significantly to the Gross Domestic Product of countries across the globe. He said that they are also a growing source of export revenues, particularly in middle income countries such as most Caribbean economies.
“CARICOM estimates that micro and small enterprises account for more than 45% of jobs in the region and account for approximately 60% of GDP in some CARICOM Member States. If medium-sized enterprises are included, the sector arguably contributes more than 70% of jobs and more than 70% of agricultural exports,” the Minister informed.

The conference is being sponsored by the Jamaica National Group, LASCO Jamaica Ltd, Wisynco Group, ARC Manufacturing and Development Bank of Jamaica. Other partners include the Jamaica Stock Exchange, Jamaica Producers and HEART Trust/NTA.

The SBAJ is a private non-profit business organisation, registered in 1974 to foster the growth and development of businesses and professional groups and to represent the entire small and micro business sector.
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