Jamaican small and medium-sized enterprises (SMEs) are being urged to accelerate their adoption of technology, artificial intelligence (AI) and innovation as key drivers of competitiveness and long-term growth in an increasingly dynamic business environment.

This call emerged from JMMB Group’s Thought Leadership Breakfast held at the Marriott Hotel in Kingston under the theme, “Tools to Help SMEs Adapt, Compete and Grow.” The event brought together business leaders, entrepreneurs and representatives from key business support organisations to explore how SMEs can leverage technology, strengthen operational readiness and access financing and technical support to scale sustainably. 

Delivering welcome remarks on behalf of JMMB, Alwayne Cousins, Country Chief Client Partnership Officer, highlighted the rapidly changing business landscape and encouraged entrepreneurs to embrace innovation as a means of expanding their reach and improving competitiveness. “Business owners today are operating in an environment characterised by rapid technological change, evolving customer expectations and increasing competition. Technology is opening up opportunities for SMEs to compete regionally and alongside larger companies. Conversations like these are important because they help equip entrepreneurs with practical insights, resources and connections that can support long-term success.”

A major focus of the discussion was the unprecedented opportunities now available to SMEs through technology and AI. Chief Executive Officer of Amber Group, Ambassador Dushyant Savadia, challenged business owners to view technology adoption as a competitive advantage rather than a business obstacle. “There has never been a better time than now to do business,” said Savadia. “Technology is not the problem anymore. It is all about adoption. Who is willing to adopt? Who has the curiosity to experiment?” 

He noted that advances in artificial intelligence, automation and digital platforms are giving small businesses access to capabilities once reserved for large corporations. “It is a golden era for even a small business to operate because SMEs have more flexibility and the ability to make quicker decisions,” he added. 

The discussion also highlighted the need for businesses to integrate digital tools more deeply into their operations. Acting CEO of the Jamaica Business Development Corporation (JBDC), Harold Davis, JP, pointed to research showing that technology adoption remains relatively low among SMEs, despite the significant productivity and efficiency benefits available. “Only 32 per cent of organisations were adopting technologies in their daily operations when we conducted our analysis,” Davis noted. “If you’re not using digital technologies across your customer, financial and operating systems, you’ve already been left behind.” 

Davis emphasised that Jamaican entrepreneurs now have access to a wide range of support services, training programmes and business development resources designed to help them modernise and scale their operations. 

A critical component of enabling business growth, participants heard, is ensuring that SMEs can access both financing and policy support. Antoinette Hamilton, President of the MSME Alliance, highlighted the organisation’s advocacy work on behalf of entrepreneurs, including efforts to improve access to financing, procurement opportunities and public sector digitisation. “We have championed reforms to make it easier for MSMEs to access financing and to adapt, compete and grow,” Hamilton said. “We continue to advocate for digital transformation in the public sector because government must adapt as well.”

Representing the Development Bank of Jamaica (DBJ), Christopher Brown, Manager of the BIGEE Programme, reinforced the importance of ensuring that SMEs have access to both financing and technical support as they pursue innovation and expansion. Brown noted that DBJ provided approximately J$6 billion in financing to SMEs during its last financial year, while continuing to introduce programmes aimed at improving business readiness, resilience and productivity. 

Throughout the discussion, panellists agreed that while financing remains important, technology and innovation are increasingly determining which businesses succeed in today’s marketplace. They stressed that SMEs that embrace AI, digital tools and data-driven decision-making will be better positioned to improve productivity, reach new markets and compete on a larger scale. 

The event formed part of JMMB’s ongoing commitment to supporting entrepreneurs through knowledge-sharing, strategic partnerships and practical business solutions. By facilitating conversations on innovation, technology adoption and sustainable growth, JMMB continues to empower SMEs to build resilience and unlock new opportunities in an evolving business landscape.