Business
JM | May 20, 2022

More help coming for Jamaica’s MSMEs

/ Our Today

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Integration of specialised digitalisation business development support

The offices of the Planning Institute of Jamaica. (Photo: Facebook @Planning-Institute-of-Jamaica-PIOJ)

Jamaica’s micro, small and medium-sized enterprises (MSMEs) are getting more help from the European Union (EU), which has agreed to fund a digital transformation support programme for the sector.

The programme is being designed for MSMEs to aid in the adoption of technological solutions that will improve sustainability and advance the sector’s growth. The initiative, which will involve the integration of specialised digitalisation business development support.

It is being undertaken by the Ministry of Industry, Investment and Commerce with the support of the EU Delegation to Jamaica and the Planning Institute of Jamaica (PIOJ).

Dr Norman Dunn, state minister for industry, investment and commerce, who made the announcement, said the programme would be implemented in the 2023-2024 financial year.

Dr Norman Dunn, state minister in the Ministry of Industry, Investment and Commerce. (Photo: JIS)

Dunn, who was making  his contribution to the 2022-2023 Sectoral Debate in the House of Representatives on Tuesday, advised that a technical team from the ministry has been assembled to work closely with the EU Delegation and the PIOJ to have the programme implemented.

He said the programme was in line with the Government’s continued work to build the resilience of MSMEs.

Recovering from the pandemic

He pointed to the imperative of this programme, saying it was crucial, as the country seeks to recover from the coronavirus (COVID-19) pandemic, which adversely impacted many small businesses that were unable to transition to the digital space due to various constraints.

Dunn told Parliament that the digital transformation support programme has three core components – digitisation to transition MSMEs from paper-based to electronic information, digitalisation to transform MSME business processes from manual to electronic, and digital transformation to allow MSMEs to leverage technologies to build new business systems.

He noted that this initiative is an important component of a broader EU programme for Jamaica that will include the education and information and communications technology (ICT) sectors.

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