Development Bank of Jamaica to relaunch Gemini Plus programme for small businesses

The Development Bank of Jamaica will relaunch its Gemini Plus programme later this month, offering small enterprises a fresh route to financing and investment while helping owners build stronger, more sustainable operations and improve their readiness for growth.

Gemini began as a pilot capacity-building project aimed at entrepreneurs who were not yet ready for equity or debt financing. It helped them organise their financial records, put governance systems in place and improve efficiency so they could be recognised as formal entities.

The bank said the first run, offered during a limited window, ran into difficulties because delivery depended on too few people to execute it. After assessing the results at the end of an evaluation period, the DBJ redesigned the programme and expanded what it offers.

Under the revamped initiative, pre-revenue entrepreneurs will be brought into the system and formalised through business incubators, while those already at an early stage of development will receive capacity-building support. The aim is to give owners something formal to present when seeking capital from an investor, a small loan from a bank, or grant funding.

The DBJ said the new design features a simpler application process and a wider network of incubators and business support organisations to improve delivery. It described the previous process as complicated, with a lengthy evaluation, and said the reworked version is more efficient and focused on outcomes.

In the first year, the bank intends to reach people across a range of sectors rather than concentrating on any single field such as agriculture. It said creatives and others who cannot easily obtain capital through banks should also gain access.

The relaunch complements other recent efforts to widen access to capital for micro, small and medium-sized enterprises, including the Jamaica Stock Exchange's micro market.