PSOJ & JMMB Seek Solutions to Create a Friendly SME Environment

The PSOJ and JMMB have decided to continue their longstanding relationship to host the 2019 edition of the PSOJ/JMMB Annual Economic Forum (AEF) on July 16 to support SMEs and by extension boost the Jamaican economy. 

International and local thought leaders have been invited to engage in high level discussions and in-depth analysis of the Jamaican economy with the base of discussions on the theme of “Financial Inclusion: The Key to Sustainable Development- Creating a friendly SME Environment.” The keynote speaker Financial Deepening Consultant of the Bank of Jamaica, Former IMF Executive and Global Economic Expert: Mr. David Marston, will address the topic of existing legislation for financial deepening in Jamaica and what strategies need to be implemented by both the public and private sectors, to create a financial ecosystem that is friendly to SMEs. 

President of the PSOJ, Howard Mitchell asserts that “this initiative is instrumental and necessary as although SME’s contribute to approximately 80% of Jamaica’s GDP, they face several obstacles in accessing and securing financial support from financial institutions. The current practices are stunting the possible sustainable development and growth of SME’s; the AEF will formulate solutions to make this practice redundant.”
Following the keynote address the programme will facilitate a panel discussion with Chairman of the Jamaica Association of Micro Financing Limited, Dr. Blossom O’Meally-Nelson and CEO of TCP Tings, Mr. Marc Gayle.

Gregory Hines, group chief business support officer at JMMB and panelist, commended the PSOJ for the key role it has played in bringing together varying stakeholders to explore opportunities for SMEs in financial inclusion and sustainable growth. He further notes this partnership with the PSOJ is “in keeping with JMMB Group’s financial inclusion and integrated financial partnership approach. As part of the company’s strategy, is to add value to SME clients through the provision of the financial partnership, resources, innovative financial solutions and a network, throughout their businesses’ life cycles; thereby, providing the necessary support for the growth of the  sector and filling the gaps that currently exist in the industry.”

The AEF aims to continue the conversation that began at the recently held PSOJ Inaugural workshop, in partnership with the Jamaica Bankers Association, under the theme “Time for Growth” which targeted SME’s. This forum will broaden the base of communications and further delve into the obstacles faced by SME’s in securing sustainable development and formulating tangible solutions moving forward to assist in their growth.