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Renown and esteemed auditing and consultancy firm Deloitte, with its Jamaican operations headed by Imani Duncan-Price, has officially launched the “Deloitte Best Managed Companies in Jamaica.

The announcement was made yesterday at the Private Sector Organisation of Jamaica (PSOJ) headquarters on Hope Road, Kingston.

At a press briefing, Duncan-Price said: “This program, established by Deloitte over 30 years ago, is the gold standard for recognising excellence in privately owned companies. Today it operates in over 45 countries around the world – from Canada to Vietnam to Brazil to the UK, and right here in our Caribbean neighbourhood, in Barbados and Trinidad and Tobago. And now, we’re proud to bring this global standard to Jamaica. 

“This is a program designed to identify, celebrate, and empower the private businesses that are the effective engines of our economy. We are talking about the family-owned businesses that have been pillars of their communities for generations, the dynamic mid-sized companies that are disrupting industries, and the large private enterprises with reach across the region and the world.”

This program should go some way in fostering greater levels of accountability, governance, financial reporting and best practices among Jamaican mid-sized firms across different sectors.

Companies should want to meet prescribed benchmarks and comply with internationally recognised standards 

Imani Duncan explained why the decision was taken to launch the program and it does bring back a credible Business award to Jamaica, adjudicated by august and esteemed business institutions. Decisions here are not made unilaterally. 

“We chose to launch this program now because we believe in the resilience and potential of Jamaican business. As we all know, our economy is at a pivotal moment, particularly as we work to rebuild and reinforce Jamaica’s strength in the wake of Hurricane Melissa. Many Jamaican companies are not just surviving; they are reinforcing their strategic resilience, staying grounded in purpose, and finding new ways to thrive amidst global economic shifts.

“The Best Managed program is our way of saying: we see you, we support you, and your excellence deserves to be celebrated on a global stage.

I want to be very clear about who this program is for. If you are a privately owned company – meaning you are not listed on any stock exchange – are majority Jamaican-owned, and generate annual revenues of US$4 million or greater, this program is for you.

We are looking for companies across all key sectors of our economy: Consumer, Financial Services, International Business, ICT, Manufacturing, and Energy, Resources & Industrials. Whether you are a medium-sized enterprise with a strong local presence or a large company with international reach, we want to hear from you.

Now, you might ask: why focus on companies of this size? Why US$4 million and above?

The answer is simple. In Jamaica, we have a growing ecosystem of support for our Micro, Small and Medium Enterprises (MSMEs) – and that is absolutely critical. There are numerous programs, grants, and agencies dedicated to nurturing businesses at their earliest stages. At the same time, there is often significant attention paid to our large, publicly listed conglomerates.

“But there is a segment in the middle – the established, privately owned companies that have moved beyond the start-up phase but are not on the public market – that is absolutely critical to Jamaica’s sustainable growth. These are the companies that have proven their staying power. They are the ones that have survived the early struggles and grown, built loyal workforces, and are now positioned to scale. They are the ones creating hundreds of stable, long-term jobs in communities across the island. They are the suppliers, the manufacturers, the regional exporters who form the sturdy backbone of our supply chains.”

Deloitte has partnered on this program with both the Private Sector Organisation of Jamaica (PSOJ) and the UWI Mona School of Business and Management (MSBM). Both these bodies will serve as independent judges assessing and evaluating applications.

Duncan-Price continued: “It’s more than an award – it’s a growth Opportunity.

Now, I want to be very clear about what participants get out of this. This is far more than a trophy or a plaque for the wall.

“When you enter the Best Managed Companies program, you are signing up for a journey of discovery and growth. Here are the benefits of the journey:

1.      You get an independent view of your business. Our evaluation process, based on those four pillars, acts like a health check-up for your company. It helps you see strengths you didn’t know you had, and uncover opportunities you might have missed.

2.      You get coaching from our experts. We don’t just judge you and send you on your way. Selected applicants will participate in exclusive Coaching Labs where our Deloitte specialists will work with you, advising on the very principles that make companies “Best Managed.”

3.      You gain access to a powerful network. Winners become part of a global community of business leaders – a community that includes “Gold” and “Platinum” winners who re-qualify year after year, proving their sustained excellence.

And finally, 

4.      You get the designation. The “Best Managed Company” stamp is a globally recognised mark of trust. It tells the market, it tells potential investors, and it tells top talent that this is a company that does things right. It enhances your credibility and helps you attract the best people – and we know talent is key for company success.”

Speaking at the press briefing, President of the PSOJ, Patrick Hylton, said: “ The value which is inherent in this program speaks for itself. To use a Latin expression, it is “ Res ipsa loquitur’, which means the thing speaks for itself.

“I’m very excited about the program and its potential impact for Jamaican businesses and ultimately our country. The PSOJ is pleased to support the launch of “ The Best Managed Company” in Jamaica. We have joined both Deloitte and the Mona School of Business and Management what has been described as a global initiative. As Imani clearly indicated, this program is not only about recognition, it is also about responsibility because, quite frankly, the private sector represents companies that collectively employ thousands of Jamaicans. We are drivers of investment in the economy. We make significant contributions to the country’s GDP, and we shape its business climate. This program is about helping us in the pursuit of those responsibilities.

“Programs like this really matter because the truth is, the quality of management leading our businesses matters. We see it all the while with the outcomes and results they get. We know that results in business do not happen by accident. Sustainable success is the outcome of deliberate strategy. It is the outcome of disciplined execution, it is the outcome of sound governance and strong leadership cultures.

“ This is what really separates companies from those who merely survive to those who thrive and grow consistently, and those who innovate and compete on a global scale successfully. 

“The Deloitte framework, which is focused on strategy, innovation, culture and governance, aligns with the business principles that we here at the PSOJ advocate.”

Executive Director of the Mona School of Business and Management, David McBean, added: “  I want to welcome back Deloitte to Jamaica. We have done several partnerships with Deloitte in the past. I would like to encourage other members of the private sector to partner with us to have more of these initiatives and programs.

“There is a philosophy in Japan which is called “co-opition” where to grow their industries on the back end, they all partner and cooperate. So all those big motor brands like Toyota and Honda, they collaborate on the back end while competing on the front end.

“This represents an opportunity for us to have our mid-size companies in the context of Jamaica, start to share ideas. A competition of this nature will see everybody sharing best practices and how governance works elsewhere. This is one of the big benefits of this exercise.

“The companies we have in Jamaica tend to be siloed, even if they are in the same industry. I am hoping this is part of having clusters, having shared ways of doing things. The goal is to make us have better companies.

“There are two advantages here. One is import substitution for goods. If you can’t win in your local market, you can’t export. With all the trade agreements that we have signed with many of them now going up in smoke, our borders are more open than ever, so we have to move the mindset of our companies into the global realities. So once we win at home, it means we are doing as good as those we are competing against in our home markets. A rising tide will lift all boats.

“The pillars that attracted us here are strong governance, ethical leadership, innovation and strategic agility, sand ustainable performance. For Jamaica, this matters.  Knowledge matters, learning matters, and we have to infuse that knowledge and learning with practice. None works without the other, so we have to be committed to being that bridge between academia and business. I would like to commend Deloitte for bringing this globally respected framework to us. I’d like to encourage companies to go through this transformation. We look forward to partnering with Deloitte. 

Applications are now open here. The first-stage application deadline is fast approaching – it is February 28, 2026. That is just two weeks away.

·      In early March, all applicants will be reviewed to ensure they meet our eligibility criteria.

·      Then, from mid-March to mid-April, Deloitte will host the exclusive Coaching Labs. This is where the real value begins, as we help you prepare your final submissions based on the four pillars.

·      Final applications will be due by late April.

·      In May, the independent judges – drawn from the PSOJ and the Mona School of Business and Management – will deliberate.

·      Final selections will be made by the end of May.

·      And then, in June 2026, everyone will come together for an event to celebrate and recognise Jamaica’s first-ever cohort of Best Managed Companies.