Operating successfully in the micro, small and medium-sized enterprise (MSME) sector means strategically positioning your business for growth. Registering your business with the Companies Office of Jamaica (COJ) is not just a legal requirement, but also a strategic move toward formalisation and long-term growth. Without registration, businesses remain invisible to key stakeholders including banks, investors, and government agencies, limiting their growth potential.
Formalisation begins with the initial registration of a business, ensuring it meets legal and regulatory requirements. As a business grows, it may need to adapt to new regulations, industry standards, or best practices including but not limited to:
- Tax compliance
- Proper accounting systems (financial management)
- Licensing & permits (industry-specific requirements)
- Building a credible business identity
The Jamaica Business Development Corporation (JBDC) as the agency driving entrepreneurial success understands that not registering your business with the Companies Office of Jamaica is a self-inflicted hurdle to growth. Because registration unlocks opportunities. Once registered, businesses can:
- Open a business bank account
- Apply for grants, loans, and funding
- Form partnerships with public and private sector entities
- Operate in good legal standing under the Business Name Act (1934) and the Companies (Amendment) Act (2013)
Choosing your company name
A critical aspect of registration is the naming of your company. The business name acts as a marketing tool and differentiates your business from others. The COJ outlines certain guidelines for the registration of business name:
- The name selected must not be identical to another registered business
- The name of every company must end with the word “Limited”
- Company may not be registered with a name that infringes on a registered trademark
- The name should not give a false impression of the business to be conducted by the company
- The use of certain words in a company name will require certification from the relevant professional or regulatory body (medical, engineer, dental, bank, university, pharmacy, cambio..)
- Some words are protected by statute: The word “standard” may only be used as specified in the Standards Act, and the term “Blue Mountain” may only be used with the permission of the Coffee Industry Board, for example.
Registering Online is Easy
Once you have chosen a name for your company, visit www.orcjamaica.com to reserve the name and start registration. You will need to create an account on the website, as well have the following documents:
– Proof of address (e.g. Utility Bill or Driver’s License).
– Identification (Driver’s License, Passport or Voters Id)
– Payment method for checkout
The platform is intuitive. Follow the guidelines provided.
The JBDC plays a critical role in guiding entrepreneurs ‘From Concept to Market’. By collaborating with private sector and government agencies like the COJ, the agency supports the creation of an enabling environment for MSMEs to grow.
JBDC Formalisation Programme
As part of its strategic plan for the 2024 -2025, the JBDC supported the formalisation of over 116 businesses through:
- Training & Mentorship
- Business Incubator Programme (helping start-ups transition from idea to legal entity)
- Access to networks & funding opportunities
JBDC’s formalisation programme focuses on assisting entrepreneurs with meeting regulatory requirements both internationally and locally allowing them to access opportunities that support their businesses from start-up through to growth & expansion.
If you have a concept in mind, your business is informal or unregistered, let’s begin your journey to success with the JBDC by logging on to www.jbdc.net.
FREE TRAINING FOR MSMEs
