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In 2023, the Jamaica Business Development Corporation (JBDC) served 2,711 micro, small and medium-sized enterprise (MSME) clients from a wide range of sectors.
The information is contained in the Jamaica Planning Institute’s (JIS) Economic and Social Survey of Jamaica 2023, which was recently tabled in Parliament.
Manufacturing accounted for 16.8% of customers served, followed by services at 11.1% and retail at 10.8%.
“Another 9.1 per cent comprised agriculture, forestry, fishing and hunting. The remaining 52.2 per cent was education, gifts and crafts, fashion/apparel, accommodation, aromatherapy, agro-processing, mining, finance and insurance, accommodation and food services,” the survey showed.
Of the assisted MSMEs, 50.7% were led by women, while 34.7% were led by men, of which about 14.6% were jointly owned.
JBDC also held 73 virtual webinars, training sessions and workshops benefiting more than 2,248 people.
The company also launched an essential oils incubator program in December.
The project, which is supported by government funding, provides capital-intensive production facilities for entrepreneurs in the essential oils industry, the report noted.
A refurbished agro-processing incubator is also set to open in November 2023. It is funded by the European Union (EU) and managed by the Caribbean Development Bank (CDB).
The incubator is equipped with necessary machinery and equipment to help boost production and exports by micro and small agro-processors.
The investigation further stated that the facility was aiming to obtain Food Safety System Certification (FSSC) 22000 to make the incubator comply with international standards.
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