Post-Melissa MSME push aims at renewal, not just recovery, PS says

Sancia Bennett Templer, Permanent Secretary in the Ministry of Industry, Investment and Commerce, says help for micro, small and medium-sized enterprises after Hurricane Melissa is meant to do more than restore what was lost. The aim, she said, is a tougher, more resilient and updated MSME sector.

“Our task now… is not simply to return to where we were before. The real challenge and the real opportunity are to build a stronger, more competitive, more innovative MSME sector. Recovery must lead to renewal and renewal must lead to growth, and growth must lead to stronger communities and a stronger Jamaican economy,” she stated.

She spoke at the Small Business Association of Jamaica (SBAJ) Growth and Resilience One Day Working Conference, staged recently at The Jamaica Pegasus hotel in New Kingston.

Outlining official backing for the sector, Mrs. Bennett Templer said the Ministry is coordinating work through its 20 portfolio agencies so firms can more readily obtain finance, run better operations, move faster into digital tools, meet required standards, reach overseas buyers and absorb future blows through greater resilience.

She also said business support is being upgraded so it is simpler to reach and better linked.

On the updated MSME policy, which is due to be completed and unveiled later this year, she said the framework will cover new start-ups while also lifting existing and emerging owners so they can raise productivity, compete harder, innovate and take a fuller part in domestic, regional and global markets.

“What lies ahead for Jamaica’s MSMEs is transformational; an ecosystem that is more connected, more responsive, more ready to help to have businesses grow,” Mrs. Bennett Templer stated, urging firms to use the Government’s programmes and initiatives to harden and modernise how they work.

She stressed that MSMEs underpin the domestic economy and add substantially to Gross Domestic Product (GDP), and that the Government intends to keep conditions in place for them to expand and hold their own against rivals.

“MSMEs are a big deal; no side order. They are the real deal. They represent approximately 89.8 per cent of all enterprises in Jamaica, contribute about 44 per cent to GDP and account for approximately 80 per cent to 90 per cent of employment, and all of that is definitely a big deal,” Mrs. Bennett Templer pointed out.

Held under the theme ‘Rebuilding the MSME Sector: A National Imperative for 2026 and Beyond’, the SBAJ gathering offered practical tactics, specialist advice, interactive workshops, panel sessions and networking meant to help MSMEs firm up their operations, improve access to capital and set themselves up for lasting success.