PIOJ and Honey Bun Foundation launch three-year MSME tracking pilot for 50 CRP firms

KINGSTON, Jamaica — The Planning Institute of Jamaica (PIOJ) and the Honey Bun Foundation have undertaken a three-year pilot study aimed at strengthening community businesses across Jamaica.

In a statement on Wednesday, the PIOJ said it had signed a multi-year memorandum of understanding (MOU) on April 30th, signalling the beginning of the public-private partnership (PPP) to complete the study.

The study will monitor the growth and development of 50 nano, micro, small and medium enterprises (MSME) identified under the Community Renewal Programme (CRP) as needing targeted support to help them scale, access relevant resources and position themselves competitively within Jamaica’s MSME ecosystem.

The initiative will also facilitate the mapping of the entrepreneurial ecosystem to better guide business owners through the various stages of business development and accelerate their growth.

This monitoring, analysis and mapping exercise will be conducted through the Honey Bun Foundation’s business diagnostic tool, The GAPP App. The application, which currently identifies operational gaps within nano, small and medium-sized businesses and directs entrepreneurs to appropriate support services, will be further modified to identify where businesses are positioned within the business life cycle.

Director General of the PIOJ, Dr Wayne Henry, noted that, “It is recognised that if we are to provide targeted support to these community businesses, understanding the stages in the business life cycle is necessary and significant, as it allows for proactive risk management, optimised funding strategies and effective strategic planning.”

He further added that, “This collaboration between the PIOJ and the Honey Bun Foundation is vital and is being executed within the context of both entities’ defined roles to create an enabling business environment that will empower the MSME sector and position it to continue contributing to the growth of the Jamaican economy.”

Founder of the Honey Bun Foundation, Michelle Chong, emphasised the importance of collaboration in driving national development, noting that: “Through strategic partnerships, innovation and a strong community focus, we can create sustainable pathways for entrepreneurs to thrive. This initiative is about equipping businesses with the tools, guidance and opportunities they need to grow, compete and contribute meaningfully to Jamaica’s economic future.”