Supreme Ventures Services (SVS) Business Hub has signed an agreement with the Development Bank of Jamaica to operate as a business development organisation (BDO) for the recently relaunched Voucher for Technical Assistance Programme (VTAP).

VTAP provides business support to micro, small and medium enterprises (MSMEs) to help them expand and optimise their operations.

The memorandum of understanding (MOU) will see SVS Business Hub offering back-end office services such as payroll, accounting, marketing and technology support to MSMEs who qualify for and have received vouchers for technical assistance from the DBJ.

Dennis Chung, CEO of Supreme Ventures Services, a subsidiary of the Supreme Ventures Group, said this agreement underscores the company’s commitment to supporting Jamaican small and medium businesses.

“At SVS Business Hub, and the wider Supreme Ventures Group, we are consistently seeking innovative ways of supporting small and medium businesses. We are very pleased with this partnership as it affords us another avenue to offer more support to these businesses. We encourage businesses to take advantage of the opportunity to realise their full potential and positively contribute to the Jamaican economy” he said.

OPERATIONS MUST BE IN STATE OF READINESS

The desire for SMEs to participate in the recently announced SME funding means also that their operations must be in that state of readiness.

This DBJ VTAP was recently relaunched with an upgraded digital platform where businesses can seek financial assistance from the DBJ with services being provided by approved BDOs such as SVS Business Hub.

MSMEs can access vouchers valued up to J$200,000 or 70 per cent of the cost of required service.