SBAJ conference draws 700 as DBJ signs financing MOU; tax intake lags budget

About 700 people gathered yesterday at the Jamaica Pegasus Hotel for the Small Business Association of Jamaica’s Growth and Resilience Conference, among them Finance and Public Service Minister Fayval Williams, Michael Lee-Chin, and coffee farmers from Hall’s Delight in St. Andrew.

The Development Bank of Jamaica signed a memorandum of understanding with the SBAJ to strengthen members’ access to capital. The Jamaica Stock Exchange and the Jamaica Business Development Corporation also pledged to keep helping small firms build capacity to expand. Vendors at the event said sales of their goods were strong.

SBAJ president Gurney Reid said the association had already outgrown the Pegasus and aims for 1,000 attendees next year as it widens business partnerships. "We have already outgrown the Pegasus. Our goal is 1,000 attendees next year as we build out our partnerships in the business arena," Reid said. "We are very pleased with the turnout. We thank our sponsors, our team members, and our stakeholders in believing in the vision of this conference."

Separately, the Ministry of Finance reported that tax collections for the first two months of the fiscal year — April and May — fell short of targets. Taxes on income and profits brought in $59 billion, about $18.8 billion or 24% below the $77.8 billion budgeted. Company tax receipts were among the largest shortfalls, at $27 billion against $39.9 billion projected, or 30.9% below target. Special consumption tax collected only $2.15 billion of $6.4 billion budgeted, a 65.9% miss.

Hotel accommodation tax was 21.7% under target, travel tax 35.1% short, taxes on dividends 22.7% below budget, and taxes on individuals 59.4% under projections. International trade taxes missed by 3.3%, customs duty by 8.6%, education tax by 8.3%, and production and consumption taxes by about 2.4%.

On the Jamaica Stock Exchange for July 16, 2026, TransJamaican Highway Limited led activity with 4,275,215 units, or 32.35% of market sales, followed by Tropical Battery Company Limited with 3,321,058 units (25.13%) and Sagicor Select Funds Limited Financial with 1,312,480 units (9.93%). Investor interest stayed focused on transportation, finance and distribution stocks.

Bank of Jamaica data for the same date showed the US dollar selling at $159.30 and buying at $157.62. The Canadian dollar sold at $113.63 and bought at $113.05, a $0.58 spread. The British pound sold at $213.59 and bought at $211.85, a $1.74 bank spread.

Credit performance is shaped well before a loan application, through on-time payments and careful management of cards, personal loans and microfinance. For entrepreneurs seeking loans, investment or grants, funding decisions are increasingly driven by data and predictive analytics, making clean financials, measurable traction and a clear business case central to securing capital.