KINGSTON, Jamaica, CMC – The Jamaica Enterprise Improvement Company (JBDC) says it has elevated its efforts to drive the digital transformation of micro, small and medium-sized enterprises (MSMEs), with not less than 500 companies set to digitise one inside course of this 12 months underneath the European Union (EU)-funded ‘Digital Jamaica’ Venture.
The three-year initiative, launched in 2023, is managed by the Ministry of Business, Funding, and Commerce and goals to speed up the adoption of digital options throughout the MSME sector.
Focused areas embrace e-payments, payroll, human useful resource techniques, buyer relationship administration software program, e-commerce, contracts, invoicing, and vendor administration.
JBDC’s appearing chief govt officer, Harold Davis, underscored the programme’s position in equipping entrepreneurs with the requisite instruments and competencies to navigate and achieve an more and more digital market.
“One of many crucial areas for them to grasp is having the ability to function in a digital atmosphere. This implies using digital options to reinforce the worth of their enterprise, talk successfully with suppliers and {the marketplace}, commerce effectively, and conduct monetary transactions. The world has already moved there, and we have to get there too,” he mentioned.
Davis famous that the findings of a survey performed firstly of the challenge revealed that solely 32 per cent of native MSMEs had been snug utilizing digital options, with nearly all of engagement confined to social media platforms.
“With the assist of the EU, we launched into the Digital Jamaica Venture to maneuver that needle, as a result of it’s important if our MSMEs are to compete internationally and develop sustainably,” he added.
JBDC’s supervisor for the Venture Administration and Analysis Division, Chantol Dormer, mentioned that whereas coaching stays central to the programme, the present section focuses on serving to MSMEs implement sensible options to enhance their operations.
“This 12 months, we’re concentrating on 500 MSMEs who can be assisted to remodel certainly one of their inside processes digitally. That may be something, from so simple as us serving to them with their social media to one thing extra advanced like implementing a Buyer Relationship Administration (CRM) or Enterprise Useful resource Planning (ERP) system,” she mentioned.
In its inaugural 12 months (2024–2025), the Digital Jamaica Venture surpassed expectations, coaching roughly 1,200 entrepreneurs islandwide, properly above the preliminary goal of 700.
The broader goal is to equip 2,700 MSMEs with the instruments and competencies vital for digitization, digitalization, and full digital transformation by 2026.
Dormer said that the JBDC acknowledges the various ranges of digital readiness throughout the MSME sector, and as such, the challenge doesn’t take a ‘one-size-fits-all’ strategy. As a substitute, every intervention is rigorously tailor-made to fulfill the precise wants and challenges of taking part companies.
“Each enterprise is completely different. For some, implementing e-payments or on-line invoicing will be the precedence, whereas for others, it’s payroll or vendor administration. Our position is to information them via the method in order that the know-how chosen really addresses their ache factors and delivers measurable influence,” Dormer mentioned.
She mentioned that companies should full coaching classes via to the digital transformation stage and meet key eligibility standards, reminiscent of formal registration, earlier than being shortlisted for assist.
A subsequent digital evaluation identifies operational gaps and informs the prioritisation of tailor-made options.
“As soon as we’ve achieved that, the evaluation provides us a full panorama of the place they’re, and after we implement the software, we’re bridging not less than a kind of gaps,” Dormer mentioned, including that post-implementation assist can be supplied.
She additionally famous that “as a result of there isn’t any price to MSMEs taking part within the challenge and we’re utilising funds from the federal government of Jamaica and the European Union, we need to be certain that companies chosen are registered and viable”.
