Growth & Jobs | Early entrepreneurship as a pathway to job creation

Deputy Managing Director of JN Bank Gillian Hyde is underscoring the importance of introducing entrepreneurship to young people from an early age, noting that it equips them with the skills and outlook needed to contribute meaningfully to job creation and economic growth.

“When young people are exposed to entrepreneurial thinking early, they begin to understand that they can create value and build sustainable livelihoods. This mindset equips them to succeed in the career path they choose,” she said.

“In small economies such as Jamaica’s, empowering young entrepreneurs can have a multiplier effect as it drives job creation, innovation, community development, and sustainable national development,” Hyde added.

She further pointed out that early exposure to entrepreneurship helps young people view self-employment as a viable and respected career option, particularly at a time when many school leavers face challenges securing employment. She emphasised that partnerships among schools, families, community organisations, and financial institutions are essential to nurturing a strong entrepreneurial culture.

“Encouraging entrepreneurial thinking from an early age is an investment in the future of our economy. When we empower and support young people, we are building a more resilient and inclusive Jamaica,” she stressed.

Hyde explained that entrepreneurship education also lays a strong foundation for financial literacy, helping young people to understand saving, budgeting, investing, and responsible borrowing, which are skills that are essential for long-term financial stability.

The banker noted that access to financing is a crucial component for young people who choose to pursue business ownership as start-up capital increases the chances of a viable enterprise.

“For many young entrepreneurs, a loan provides the initial push needed to get a business off the ground as it allows them to purchase equipment and stock and take care of other overhead expenses.”

“JN Bank, through its Small Business Loans portfolio, has a long-standing commitment to small-business development and continues to support entrepreneurs at every stage of their journey from start-up to expansion,” Hyde pointed out.RECOGNISE OPPORTUNITIES

The importance of early exposure to entrepreneurship is relatable to Paul Bennett, a resident of Green Island, Hanover, whose experience began while attending Green Island High School, inspired by his older brother, Mitchell Bennett, a farmer.

“During the time of high school [and] on weekends, I would go on the farm and help him when he was reaping crops and bringing them out to the road so they could be taken to the market,” he recalled.

After leaving high school at age 17, Bennett made a deliberate decision to pursue farming full time, initially working alongside his mother before eventually operating independently. Farming, he said, is deeply rooted in his family as his father is also a farmer and a now-deceased brother was previously engaged in farming.

Hyde said experiences like Bennett’s highlight the value of early exposure to entrepreneurship.

“It helps them build confidence and recognise opportunities within their own communities, and that early foundation often shapes the choices they make later in life.”Now in his late 20s, Bennett manages a farm spanning more than 10 acres in his community. He is a vegetable farmer, producing pakchoi, callaloo, sweet pepper, pumpkin, hot pepper, and string beans, along with plantain and banana. His early start allowed him to gain hands-on experience and gradually expand his operations over time.

LONG-TERM SUCCESS

The entrepreneurial journey, however, has not been without challenges as Hurricane Melissa caused significant damage to the farm.

“I lost everything because of too much water, and all the plantains blew down,” he said.

Determined to recover and rebuild, Bennett secured a two-year loan from JN Bank to purchase a spray pan, fertilisers, chemicals, and seeds to restart his operations.

Hyde noted that access to financing is often a critical factor in helping young entrepreneurs recover from setbacks and sustain their businesses.

“For many young entrepreneurs, timely financing can help them to rebound after a setback,” she said.

Since gaining employment in the tourism industry in 2019, Bennett now manages farming as a side business but remains fully committed to it. He works on the farm on his two days off and in the early mornings before heading to his afternoon shift. On occasion, he hires additional help and also receives assistance from his father.

“Sometimes I have to wake up from 4 a.m. [I use] a flashlight while in the field cutting callaloo to take to wholesalers in Lucea on time,” he related.

“It’s something I tell myself I’ll always do. It feels good to be your own boss and to earn an honest living.”

Bennett believes the right mindset is critical for young people entering entrepreneurship, pointing out that belief in oneself, faith, and determination are essential qualities for survival and long-term success in business.