Micro, Small and Medium Enterprises and Entrepreneurship Policy of Jamaica.

The Micro, Small and Medium Enterprises and Entrepreneurship Policy is a national policy with a multi-sectoral approach. This Policy lays down six key policy goals as (I) creating an enabling environment for the development and growth of businesses, (II) increasing access to financial services, (III) enhancing business and development support, (IV) increasing the potential of entrepreneurship to transform the economy, (V) establishment of social enterprises for community management, and (VI) addressing cross-cutting issues such as gender and youth. The regulatory and administrative procedures will be facilitated to support MSMEs by reducing the bureaucracy and costs. Moreover, the electronic business registration system will be improved to enable online incorporation of companies and registration of business names. The number of MSMEs using least cost energy options will be increased by encouraging them about sustainable energy practices to adopt energy practices that support affordable energy efficiency and energy diversity and by promoting and implementing the Least Cost Energy Projects to help MSMEs lower their operational costs and boost productivity through more efficient use of resources. MSMEs will be supported to increase their export potential by increasing the number of high value producing MSMEs and strengthening their international competitiveness and their participation will be encouraged in regional and global value chains by facilitating greater linkages with regional and international production networks. Financial support will be provided for MSMEs to expand their businesses as well as to increase their contribution to economic growth and job creation. In this context, MSMEs will be encouraged to employ creativity and innovation by employees as a strategy to achieve competitive advantage and spur innovation at all levels of the organization. Business support and development services will be provided to MSMEs by the Jamaica Business Development Corporation to enhance their capacities. Marketing strategy will be developed to increase the market share for goods and services produced by MSMEs. The competitiveness and market access of goods and services that meets international standards and certification will be increased for the entry of MSMEs into targeted markets. In order to ensure continuous improvement in labour productivity and the working environments, awareness-raising and education programmes will be provided to MSMEs. The number of MSMEs using science and technology and R&D will be supported by transforming traditional community centres and shared public spaces into innovation centres, encouraging the use of ICT products and services, and supporting an innovation network among MSMEs, state entities and other institutions. Moreover, a knowledge-sharing platform will be established to foster greater social capital among MSMEs. Gender equality will be integrated into the MSME sector activities. Furthermore, a national policy framework will be established for full inclusion, opportunities and support for persons with disabilities within the business community. In order to support youth entrepreneurship as a strategy for youth empowerment and employment, a MSME and Entrepreneurship policy structure will be established. Incentives will be provided to MSMEs which are operating in conformity with national policies in the fields of environmental protection and climate change adaptation and mitigation.