The NCB Financial Group on Thursday, July 3, hosted small and medium-sized (SMEs) leaders at a conference that provided insights and thought leadership on the digital tools they will need to grow and become future-ready.

Held at the AC Hotel Kingston under the theme ‘Navigating the Digital Shift: Practical tools for SME Success’, the NCB  SME Conference focused on sharing real-world solutions and focused learning in the areas of digital transformation and cyber security. The financial institution said the theme and the sessions in the conference highlighted and addressed some of the barriers to growth among SMES, including financing, technology and digital security.

Solutions for SMEs

“This conference reflects our commitment to ‘Building a Better Jamaica’…SMEs deserve solutions that are responsive to their needs and realities. Through financing, technology and direct engagement, we are empowering our entrepreneurs to scale and grow with confidence,” National Commercial Bank CEO Bruce Bowen said.

During his remarks, Bowen pointed out that SMEs represent over 90 per cent of registered companies and contribute 60 per cent of local employment. Still, they face an unmatched impact from global environmental events, including digital and geopolitical disruptions, shifting global trade dynamics, and high customer expectations.

“Many of you continue to face longstanding hurdles, limited access to capital, evolving regulatory landscapes and underdeveloped infrastructure.  But what also persists, and deserves to be acknowledged, is your resilience, your creativity, and your consistent contribution to the lifeblood of our country,” the NCB CEO celebrated.

“At NCB, we see you as more than customers; we see you as nation builders working together to help build a better Jamaica. That’s why we have made deliberate choices – not symbolic gestures; to support your growth,” Bowen continued.

He listed measures NCBFG took to better serve SMEs:

• Launching the NCB SME Growth Fund—injecting $1 billion in capital in businesses at significantly reduced interest rates
• Lowering SME lending rates to ease the cost of doing business.
• Digital onboarding, ePOS solutions, and partnerships with platforms like Lynk, make transactions, payments, and accounting more convenient.

‘Where learning meets opportunity’

“And we continue to provide spaces like today, for access to skill-building and capacity development.  Where learning meets opportunity and where the right conversations can unlock the next stage of growth,” Bowen added.

The day’s agenda comprised two panel discussions – ‘Building Cyber-Resilent Enterprises: Weathering Against Digital Threats’ and Digital Export Strategies and Technology Enabled Market Access’.

For Trevor Forrest, one of the panellists and the CEO of 876 Solutions, having the “digital toolkit to defend against online threats and scale beyond our shores” is paramount. Ahead of the conference, he said the event will “close the gap by highlighting practical, accessible technologies.

“When digital solutions are within reach, SMEs are better equipped to protect their operations, work more efficiently, and compete globally,” an NCB quotes Forrest.

Another session on the day, led by Mastercard Director of Commercial and New Payment Flow Rosario Bordigoni, focused on scaling with digital payments. During the session he highlighted NCB’s new tap on phone card payment service powered by Mastercard.

Keeping connected with clients

According to NCB, SME conference is part of a series of initiatives sponsored by the company to help SMEs build their digital capabilities, manage risks and access opportunities. It follows the SME Connect Forum held in Montego Bay.

“We have a series of activities and events that support not only SMEs but businesses overall. For the SMEs, in particular, for today, we chose them because we recognise the world is going digital. AI is becoming the new order, and so we thought of what would be the best way to educate them on growing their businesses globally, along with cybersecurity and digital tools,” Kaysia Johnson Vaugh, NCBFG Group head of Marketing and communications, told Our Today.

“We will also have other activities in this series being rolled out in the coming months,” she continued.