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2014, July 17 - Support Coming for MSME Sector

BAS Bulletin – July 17, 2014
(Extracted from the Observer July 17, 2014)

THE Jamaica Business Development Corporation (JBDC) and Caribbean Maritime Institute (CMI) are collaborating in the provision of business and technical support services for the continued development of the micro, small and medium enterprise (MSME) sector.

The entities recently signed a Memorandum of Understanding (MoU) to formalise the arrangement. Among the provisions are joint workshops, training, and a market readiness programme to benefit stakeholders aligned to the JBDC and CMI.

Chief Executive Officer at JBDC, Valerie Veira, said both entities will work together to identify and make use of opportunities that will be created from the logistics hub initiative.

"This whole logistics (initiative) is more than just the airport and seaports, but more of an eco-system that involves various industries...people will be interested in what they eat...the ships should not go back empty from Jamaica. So we need to be looking at specialised food, the fashion, the craft, the entertainment...so everybody needs to be operating at world standard in order to be part of this logistics-centred and focused economy," she outlined.

Veira said JBDC and CMI will work at converting skills, competencies and ideas of clients into business ventures.

"For instance, how does an engineer at CMI move from being just an engineer to a business person providing engineering services?" she explained.

The entities will also facilitate an exchange programme where staff will become exposed to each other's operations and services in order to create a "common understanding and a flow of vision between both organisations".

Veira noted that this is one of several anticipated partnerships with CMI, as JBDC spearheads various thrusts to foster business development and economic growth.

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