JMMB Group PowHerful Women in Business Programme to Welcome New Cohort

The JMMB Group Small and Medium-sized Enterprise Resource Centre (JMMB SMERC) recently opened its application process for the second cohort of its PowHerful Women in Business programme. Applications run until Friday, August 16.

The six-month long PowHerful Women in Business programme is designed to empower and support women-led or owned small and medium-sized enterprises (SMEs), operating in Jamaica and Trinidad & Tobago, with a revenue of at least J$15M or its equivalent in $TT. Participants in the programme will have access to personalized financial advisory services, coaching sessions, workshops on a range of topics, business support services and discounted services from JMMB SMERC partners such as: Transformational Life Solutions, Blazing Beyond, Carli Communications, Denise Johnson Anderson and Marketing Dynamics Business Solutions.

Shani Duncan-Falconer, senior corporate manager, JMMB Group SMERC outlined, “The PowHerful Women in Business programme is tailored to meet the personal and business needs of female entrepreneurs and addresses some of the unique challenges that they face. By creating an enabling environment, and a gender sensitive financial framework that empowers women to access the support and financing, we believe that this partnership will help these WSMEs to take their businesses to the next level.” The JMMB exec added, “This programme pays homage to the legacy of the late Joan Duncan, co-founder of JMMB who made an indelible mark in the financial services as a pioneer of the money market in Jamaica. We want to therefore honour her by creating opportunities to support female entreps to also unearth their greatness and contribute to the economy through their business growth.”

In underscoring the value of the partnership through the programme, Daenia Ashpole, co-founder of Day & Night Beauty and a member of the first cohort shared that JMMB was instrumental to her ‘levelling up her business operations.” She shared, “The personalized support from the JMMB team has been instrumental in driving tangible growth, offering practical guidance tailored to our specific needs rather than generic concepts.” Another member of the first cohort, Karen Cameron, who is also co-director of FSC Construction Works, credits the Women in Business Programme as a catalyst to her business growth, through the provision of expert advice on accessing financing to expand the company’s operations and better cashflow management. She outlined, “The programme has gone beyond providing financing opportunities, it has elevated our operation and played an integral role in our success thus far.”

Duncan-Falconer notes, “We look forward to replicating the successes of the first cohort of WSMEs. Many of these female SMEs have expanded their operations, grown their revenue, improved internal processes, and benefitted from the solid network that they have built with other like-minded female entrepreneurs from a range of industries and across borders, in addition to boosting their overall capacity - on a personal and professional level.”

Participants in the programme will also benefit from special terms and conditions in accessing a range of financial solutions such as: merchant services, insurance, retirement solutions and loans.

Application Process

Interested WSMEs may apply for the programme at https://bit.ly/Powherful Following the application process, WSMEs will be shortlisted by an assessment committee, including subject matter experts and industry professionals. The selection will be made based on the businesses growth potential and the JMMB Group’s ability to adequately support the businesses needs during the programme. WSMEs who are shortlisted for the programme will benefit from a needs assessment with an assigned JMMB SMERC officer to ensure a thorough understanding of the business needs and a holistic plan of a range of services provided to suit the businesses’ needs.

WSMEs Supports Economic Development

Jerome Smalling, CEO of JMMB Bank notes that SMEs in countries like Jamaica are major contributors to gross domestic product (GDP) and employment. As such, the Women in Business Programme is a testament to the Group’s commitment to this SME segment, as the company seeks to address any perceived gaps identified as it supports economic development. According to the World Economic Forum, “Although women make up roughly one-half of the world’s population, they only contribute to 37% of global gross domestic product (GDP) and so encouraging more women to become entrepreneurs is not just important for making economies more fair, it could actually increase global economic development in general.”