NCB targets Jamaica's small and medium enterprises for upcoming conference

Jamaica's small and medium business enterprises (SMEs) desiring development training, financing and networking options so that they can to grow their companies will get this opportunity in June, when National Commercial Bank (NCB) Jamaica Limited through partnership with the Inter-American Development Bank (IDB) stages a three-day SME Conference at the Hilton Rose Hall Resort & Spa in Montego Bay, St James.

The NCB SME conference, which is being held from June 21-23, will provide an all-inclusive environment at a highly subsidised cost to SMEs who want to know how to leverage cutting-edge technology and social media for greater profitability, learn ways to increase operational efficiency in the existing tough economic environment, access financing and service options, as well as network with an option to showcase products and services.

NCB has brought together international and local business leaders and innovators who will share their experiences and expertise with Jamaica's SMEs. Among them is Lenovo's brand ambassador Stephen Miller who will provide practical examples of how the appropriate use of technology can transform any business.

The conference is being held under Component II of the bank's partnership agreement with the Inter-American Development Bank which is intended to strengthen SMEs for competitiveness and growth. NCB is supporting the project through contributions of over US$500,000 ($47.5 million), which represents 55 per cent of the overall project budget.

support smes

At the recent official launch of the conference, NCB's Group Managing Director Patrick Hylton noted the importance of supporting SMEs which are the backbone of most economies, accounting for 90 per cent of all industries and 50 per cent of Gross Domestic Product (GDP) worldwide.

"It is widely accepted that the small-business sector has the potential to create employment, reduce income disparity whilst contributing to socio-economic buoyancy. SMEs are also considered an incubator for the development of entrepreneurial skills across all economic groups," Hylton said.

"NCB plays an active role in ensuring that our SMEs receive the support and training they need to propel them further along their course towards nation-building, particularly given the challenges that lie ahead with the signing of the new four-year extended funding facility between the Government of Jamaica and the International Monetary Fund. In fact, one of the key deliverables/targets of this agreement is the doubling of the funding available locally to micro, small and medium-size enterprises by 2016-2017, relative to the current 2013-2014 estimates."

Visit www.embracingsmes.com for more information and to register.