Golding urges recovery plan for hurricane-hit Jamaican small businesses

KINGSTON, Jamaica — Opposition Leader Mark Golding is urging the Government to introduce an immediate “Marshall Plan” for micro, small and medium-sized enterprises damaged by Hurricane Melissa. He said thousands of firms in western and central Jamaica remain unable to operate fully several months after the hurricane.

A release issued Thursday said Golding made the appeal at the Small Business Association of Jamaica’s Growth and Resilience Conference 2026, held at the Jamaica Pegasus hotel. He reported that the productive capacity of businesses across much of Westmoreland, St Elizabeth, Hanover, St James and Trelawny, as well as sections of Manchester, continues to be affected.

Golding said many operators had no insurance and lost buildings, equipment, inventory or other physical assets. He argued that assistance must be delivered quickly.

He said the businesses are trying to recover while economic conditions worsen. Golding cited contractions during the final quarter of 2025 and the opening quarter of 2026, along with tax collections that were about $20 billion below budget during the first two months of this fiscal year.

He also noted that May’s point-to-point inflation rate reached 6.7 per cent, exceeding the Bank of Jamaica’s target range. At the same time, he said international transport and energy expenses are increasing amid continuing wars in Europe and the Middle East.

Golding argued that economic management should not reinforce a downturn and called for more inventive and ambitious action. He said the suspension of the fiscal rules for this fiscal year gives the Government room to intervene and places a duty on it to respond decisively.

However, he warned that public announcements alone would not provide relief. Golding pointed to recurring instances in which billions allocated to small-business initiatives failed to reach the intended recipients and were subsequently returned to the Consolidated Fund.

He supported the SBAJ’s position that small enterprises form the foundation of Jamaica’s economy. Golding called for tax, business registration, licensing and permitting arrangements that help these firms develop, alongside detailed implementation to ensure policies produce their stated results.

He said the country’s serious challenges require practical attention and maintained that close cooperation could create a stronger economy and improve Jamaica.