Minister of Investment and Commerce, Senator Aubyn Hill, is urging large-scale Jamaican companies to support small and medium-sized enterprises (SMEs), stressing that the sector is a key contributor to the economy and must be protected at all costs.

He noted that there are 422,000 MSMEs on the island that are the cornerstone of the country’s workforce, employing 60 to 70 per cent of workers and accounting for 90 per cent of private-sector employment.

“Thanks to the role of the MSMEs, the Jamaican economy is undeniable. This is why I am making this strong and special appeal to big Jamaican companies to support before looking abroad, a strategy which will certainly strengthen our economy,” said Hill.

“I am challenging the large companies to ensure that you look at ways to include small companies in the stuff that you buy and the services that you buy. Don’t look overseas first; look at our micro, small, and medium-sized companies. Why? Because when you build them, they employ people that buy the stuff that you sell. It’s a symbiotic relationship that makes sense to both sides,” he emphasised.

The senator made the call at the recent launch of the Montego Bay Chamber of Commerce and Industry (MBCCI) 20th Biennial Trade Expo 2024.

He emphasised the importance of business expos, noting that “a large part of shaping tomorrow’s business today is the collaboration between larger and small local companies.”

MBCCI president Oral Heaven, in his remarks, said the trade show is expected to attract more than 100 exhibitors and approximately 5,000 attendees from diverse sectors such as finance, retail, hospitality, technology, and trade.

“At Expo 24, we aim to facilitate connections between businesses of all sizes and to provide a platform for them to showcase their offerings, make sales on the floor, forge new partnerships, and explore avenues for growth. It is a testament to the power of collaboration and the potential for collective success when we come together with a shared vision,” he added.

He is urging stakeholders and business interests to turn out in their numbers, noting that the event will have something for everyone and will showcase the many opportunities that are available in the tourism capital.