Small businesses to get help to recover quickly

 

Staff and agencies under the Ministry of Industry, Investment and Commerce are to be assigned to engage with small business operators and respond to their needs.

 

Portfolio Minister Senator Aubyn Hill says he has had discussions of the heads of 21 agencies, including Jamaica Promotions Corporation (JAMPRO) and Jamaica Business Development Corporation (JBDC) to formulate the best approach to fulfil the Prime Minister's directive for economic rebound.

 

"So we're hitting the road finding what we can do. But we have data from Jamaica Business Development Corporation, EXIM Bank, another of my agency, JAMPRO, to say this is what we need.... 'Mom and pop' shops [are] what we're going to look at. We're going to try and get them up. Some will need to borrow generators, we're getting them. Some will need some kind of credit to start back up because they don't have the working capital. But also, when we get a shops back up, people have to get money to spend," he conceded.

 

He said Finance Minister Fayval Williams has discussed the issue with the Bank of Jamaica, and the Bankers Association of Jamaica is also doing its part to improve the availability of cash. 

 

Minister Hill was a guest Friday on TVJ's Smile Jamaica.