JBDC (Jamaica Business Development Corporation) | Head Office: 14 Camp Road, Kingston, Jamaica | Incubator & Resource Centre: 76 Marcus Garvey Drive 1 876 928 5161-5 (Camp Rd.) | 1 876 758 3966-8 (IRC) info@jbdc.net

For the fifth consecutive year, the Jamaica Business Development Corporation (JBDC) marked Global Entrepreneurship Week (GEW) with a week of activities geared towards the continued development and empowerment of existing and aspiring entrepreneurs.

The following is a recap of the week of activities held during the period November 13-17, 2017 under the theme Building Empires.

B.O.S.S. MAN CONFERENCE
Despite the heavy rains, a total of seventy specially invited male entrepreneurs and influencers showed up at the Jamaica Pegasus Hotel on Monday, November 13 for the first staging of the JBDC’s B.O.S.S. Man conference. The acronym B.O.S.S. which means Building Opportunities for Strong Success follows on the successful staging of the B.O.S.S. Lady conference which was also held for the first time last year during GEW and staged again earlier this year. The men were treated to cocktails and conversations with a distinguished panel of men including businessmen – Tyrone Wilson, Randy McLaren and Marlon Fletcher; Social Entrepreneur – Miguel ‘Steppa’ Williams, Actor and Comedian – Ian ‘Ity’ Ellis, Youth Advocate – Jerome Cowans and Pastor – Bishop Leslie Pinnock from the New Testament Church of God.

  

 

Among the topics discussed were; ‘Strengthening the link between God and man’, ‘Becoming a role model for your children’, ‘Steering Generation Z into Entrepreneurship’, ‘Effecting Social change in the next generation of inner-city BOSS men’, ‘turning a Passion into a Pay check’ and ‘Education: the Great Equalizer.’

The session was moderated by JBDC’s Deputy CEO, Harold Davis.

MOBILE BUSINESS CLINIC , KINGSTON
Just over 100 entrepreneurs benefited from the Kingston leg of the Mobile Business Clinic which was hosted from November 14-15 at the Altamont Court Hotel. For the first time since its inception, the clinic hosted two individual workshops on Blue Ocean Strategy and The Art of closing the Deal. Both workshops were well received by the participants, one of who remarked that “… the exercises made us apply it to a real life situation. I came out feeling like I went to a college to study the art of Entrepreneurship”.

Participants were also provided with additional information on Online and Digital Marketing, Radio Advertising and Important tips to access financing for MSMEs.

 

 

RAISING CAPITAL
The JBDC’s premier Financial Forum Raising Capital was held on Thursday, November 16 under the theme ‘Measuring what matters: Why startups aren’t scaling?’ and featured presentations from Dr. William Lawrence, Director of the Professional Services Unit at the Mona School of Business, Althea West-Myers, JBDC’s Business Advisory Services Manager and Renowned Financial expert, John Jackson.

The panel explored some of the financial metrics that startups should be tracking in order to ensure business growth. These include; Market Potential, Startup Costs, Funding Options and the cost of these options, Product, Price and Breakeven points, the Business Value, Operating Margins and Revenue Growth. Mrs. West-Myers also spoke to the need to have an entrepreneurial mindset prior to getting into business and the acceptance that businesses can and will fail.

 

UNVEILING THE JBDC BOSS
The first cohort of the JBDC’s Accelerator Programme which commenced in May 2017, ‘graduated’ in a full day activity which featured a presentation of awards ceremony, product display and pitch session, collectively titled ‘Unveiling the JBDC BOSS’.

Sixteen entrepreneurs spanning industries such as Information Technology, Alternative Energy, Agro-Processing and Food Establishments, were presented to market after participating in an intensive six-month capacity building programme. Participants were exposed to activities which are expected to significantly increase their ability to compete effectively in the local and global market place as well as access new financial opportunities and build on the operational strategies they were exposed to.

 


For more information, contact:
The Corporate Communications Unit
Jamaica Business Development Corporation
14 Camp Road, Kingston 4
Tel: 930-8531
Fax: 938-2438
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.jbdc.net

Published: 24 November, 2017
Hits: 860

The Jamaica Conference Centre was transformed into a power-haven on Tuesday October 31, 2017 as approximately 300 senior professionals turned out for the inaugural Employee Engagement Conference staged by the Jamaica Business Development Corporation (JBDC).The conference staged in partnership with the University of the West Indies followed the release of the National Employee Engagement Report (2016) which found that only 41.5% of Jamaican workers are actively engaged on the job.

Participants were engaged in an intense line-up of sessions throughout the day, headlined by renowned Executive Engagement Coach and author of The People Pill, Australian, Ken Wright as Keynote Speaker. Wright’s highly anticipated presentation Engaging the Sweet Spot and Administering the People Pill was the grand climax after several top local experts and resulted in copies of his book being sold-out at the venue. Wright cautioned that disengagement is costing Jamaica billions of dollars based on the current statistics.

Excited participants register before entering Kenneth Rattray Room at the Jamaica Conference Centre where the JBDC's inaugural Employee Engagement Conference was held on Tuesday, October 31, 2017
Excited participants register before entering Kenneth Rattray Room at the Jamaica Conference Centre where the JBDC's inaugural Employee Engagement Conference was held on Tuesday, October 31, 2017.

Local presenters included: Dr. Orville Taylor - Head of Department, Sociology, Psychology & Social Work – UWI, Clement Branche - Head of Unit, Human Resource Development Graduate Programmes - UWI, Dr. Patricia Holness - Former CEO, Registrar General Department, Dr. Carvell McLeary - Senior Director, Human Resource Management & Administration, Airports Authority of Jamaica, Dr. Hopelin Hines - Director, Total Rewards & Evaluation , Scotia Group Jamaica Ltd., Tyrone Wilson - President & CEO, eMedia Interactive Group Ltd., Desrine McFarlane - Manager, Business Human Resource, Jamaica & Trinidad, 3M Interamerica Incorporated, Melverine Hemmings - Head of Human Resources, Red Stripe, Dr. Sophia Morgan - Organizational Consultant & Lecturer, UWI and Lisa Taylor-Stone.

In her opening address, JBDC’s CEO Valerie Veira said one of the key determining factors to the success of business at any level is the ‘people’ working in the organization. “As the government’s premier business development support organization, JBDC has sought to highlight this critical element through research on employee engagement, engagement must become a priority for employers in order to increase productivity in the workforce and drive economic growth,” she said. Miss Veira added that the aim of the conference was therefore to bring together public and private sector executives and managers with a goal to transform each leader into a “master of engagement intelligence.”

Some of the distinguished presenters who contributed to a successful conference. From left, Dr. Clement Branche, Dr. Hopelin Hines, Miss Stacy Morgan, Miss Rochelle Cameron and Dr. Carvel McLeary.
Some of the distinguished presenters who contributed to a successful conference. From left, Dr. Clement Branche, Dr. Hopelin Hines, Miss Stacy Morgan, Miss Rochelle Cameron and Dr. Carvel McLeary.
Chief Executive Officer of the JBDC, Valerie Veira (right) takes the Hon. Dr. Horace Chang, Minister without Portfolio in the Economic Growth and Job Creation Ministry (centre) on a tour of the Things Jamaican display after the completion of the Employee Engagement Conference's Opening Ceremony recently. Dr. Chang who was the guest speaker said that the active engagement of workers is critical to the overall development and growth of Jamaica’s economy. Also sharing in the moment is Assistant Marketing Services Manager at Things Jamaican, Vivette McFarlane (left).
Chief Executive Officer of the JBDC, Valerie Veira (right) takes the Hon. Dr. Horace Chang, Minister without Portfolio in the Economic Growth and Job Creation Ministry (centre) on a tour of the Things Jamaican display after the completion of the Employee Engagement Conference's Opening Ceremony recently. Dr. Chang who was the guest speaker said that the active engagement of workers is critical to the overall development and growth of Jamaica’s economy. Also sharing in the moment is Assistant Marketing Services Manager at Things Jamaican, Vivette McFarlane (left).

According to Dr. Orville Taylor, Head, Department of Sociology, Psychology and Social Work, UWI, “treating workers like they matter and are integral to the organization and indeed, part of society, is the most essential ingredient in arriving at the economic results that firms and countries seek.”

Continuing, Dr. Taylor argued that a paradigm shift is needed, wherein employee engagement and decent work are not seen as the result of good management practices and thus are not what benevolent employers give to their workers after the requisite levels of economic growth are achieved. “The work of this conference is more than timely. There have been myriad studies over the past four decades which have pointed in the direction of more humane human resources practices being directly correlated to the very sort of targets which financial controllers, production managers and chief executive officers desire,” he said.

One of the highlights of the conference was a presentation by Dr. Patricia Holness, former Chief Executive Officer of the Registrar General’s Department (RGD), who shared her success story at the agency which experienced an improvement in birth registration by nearly 100% and increase in income from $7 million in 1996 to over $500 million in 2011. This, she said would not have been possible without effective employee engagement strategies.

The National Employee Engagement Report, Jamaica - 2016 was designed and executed by JBDC and comprises data that was provided by over 500 employees representing 37 companies across multiple industries within the private and public sectors in Jamaica via survey using convenience sampling over 5 months spanning January 2015 - February 2016.

Jamaica Business Development Corporation (JBDC) is an agency of the Ministry of Industry, Commerce, Agriculture & Fisheries.

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Contact: Corporate Communications Unit
JBDC
Tel: 928-5161-5, exts 244, 274 or 277, SL: 930-8531
Fax: 938-2438
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.jbdc.net

Published: 06 November, 2017
Hits: 1033

Financial Literacy for MSMEs will be in focus as the Jamaica Business Development Corporation (JBDC) embarks on yet another Mobile Business Clinic; this time to the parish of Westmoreland on October 26-27, 2017. Having recognized that financing is the one of the major challenges affecting the growth of this sector, JBDC will use the upcoming Mobile Business Clinic to enhance the participants’ capacity with a new training seminar titled ‘Measuring what Matters.’ The seminar will take into account the financial metrics that startups should be tracking in order to ensure business growth. The metrics to be explored include; Market Potential, Startup Costs, Funding Options and the cost of these options, Product, Price and Break-even points, the Business Value, Operating Margins and Revenue Growth.

According to Financial Support Services Manager at the JBDC, Melissa Bennett, the purpose of MSMEs tracking their financial performance is to validate their business venture. “These figures also help them to manage their costs, their readiness to scale the business and seek growth capital.” As is customary, the JBDC will be joined by its partners, the National Commercial Bank, Development Bank of Jamaica, Tax Administration Jamaica, The Gleaner and Street Law Caribbean in exploring additional topics such as; Attracting Lenders: What Banks want Small Businesses to know, Demystifying Small Business Law, Online Marketing and Everything a Business needs to know about Jamaican Tax Laws.

The two-day Clinic will be held at the Sean Lavery Faith Hall in Sav-la-Mar, Westmoreland on Thursday and Friday (October 26 – 27). Each day will commence at approximately 9:00 am and pre-registration is mandatory for all
persons who wish to attend.

Since the start of Phase two of the Clinic in May 2017, approximately 200 entrepreneurs from the parishes of Manchester and St. Ann have benefitted from extensive training and subsequent hand-holding and business monitoring support from the JBDC and its partners.

The Clinic is being held under the theme ‘Converting Capacity to Currency’. The initiative is an intensive capacity building training programme in which growth stage entrepreneurs are engaged in activities which serve to increase their business capacity and efficiency.

Published: 09 October, 2017
Hits: 1482

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The Jamaica Business Development Corporation (JBDC) has added another to its growing list of industry firsts with the staging of the inaugural Employee Engagement Conference scheduled to take place at the Jamaica Conference Centre in Kingston on October 31, 2017. The conference follows on the release of the National Employee Engagement Report (2016) which found that only 41.5% of Jamaican workers are actively engaged on the job.


The conference is being staged in partnership with the University of the West Indies, Mona and features world renowned Executive Engagement Coach and author of The People Pill, Australian, Ken Wright as Keynote Speaker. Wright describes Engagement as “the measure of a team’s emotional commitment to their leader.” This, he says is critically important for the bottom-line.”


According to Lisa Taylor-Stone, Manager of JBDC’s Project Management and Research Department, The National Employee Engagement Report, Jamaica - 2016 was designed and executed by JBDC and comprises data that was provided by over 500 employees representing 37 companies across multiple industries within the private and public sectors in Jamaica via survey using convenience sampling over 5 months spanning January 2015 - February 2016.
At the national level, 75.5% of the labour force is engaged, with 41.5% being ‘actively engaged’ and 35% being ‘moderately engaged’. This means that 24.5%, approximately one in four employees is ‘disengaged’ either moderately disengaged (20.5%) or actively disengaged (2.5%).


“The ideal scenario is to have your employees Actively Engaged as they feel connected to their job at least an average of 60% of a regular work month. But, with the Moderately Engaged - at least for 20%, Passively Disengaged - no more than 15% and Actively Disengaged- no more than 5%, one can decipher the low level of productivity and negative impact on the bottom-line and ultimately economic growth. Employee disengagement comes at a financial cost. For example, it costs the United States of America an average of US $168.5 billion per year. There is no dollar value of the impact of disengagement on the Jamaican economy. However, Jamaica has the lowest labour productivity rate (i.e. unit of output per worker) when compared to its major trading partners in the Caribbean and North America,” Taylor-Stone explained.

Taylor-Stone argues that engagement must become a priority for employers in order to increase productivity in the workforce by becoming masters of engagement who are able to identify disengaged team members as well as implement strategies to increase engagement. The Report highlights the top 4 drivers of engagement in Jamaica at the national level as: (1) Satisfaction and Loyalty, (2) Perception of Job, (3) Support and Recognition and (4) Development Plans.

“People make up companies and companies contribute to the economy, so we must begin with the unit of analysis, which is the employee. At the organizational level, we found other drivers such as Line of sight, which is critical, as employees should see themselves as beneficiaries from the company’s growth as a result of their output. Perceptions of the Job as a Career is also significant, as you do not want employees working in your organization until better comes. Employees who see their jobs as a career are more successful,” she added.


Several top local experts are booked to present at the upcoming conference which targets, executives and managers: Dr. Orville Taylor - Head of Department, Sociology, Psychology & Social Work – UWI, Clement Branche - Head of Unit, Human Resource Development Graduate Programmes - UWI, Dr. Patricia Holness - Former CEO, Registrar General Department, Dr. Carvell McLeary - Senior Director, Human Resource Management & Administration, Airports Authority of Jamaica, Dr. Hopelin Hines - Director, Total Rewards & Evaluation , Scotia Group Jamaica Ltd., Tyrone Wilson - President & CEO, eMedia Interactive Group Ltd., Desrine McFarlane - Manager, Business Human Resource, Jamaica & Trinidad, 3M Interamerica Incorporated, Melverine Hemmings - Head of Human Resources, Red Stripe, Dr. Sophia Morgan - Organizational Consultant & Lecturer, UWI and Lisa Taylor-Stone.


Topics to be explored include: Employee engagement and productivity, Team input: obtaining “wisdom from the masses”, “Hold the Gold”: Creating a strategy to recognize and keep high-potential team members, Converting employees into super-marketers, Building trust & respect instead of being ‘liked’, Leadership skills to build engagement and deal with disengagement, Recognition & acknowledgement that cost nothing, Staying purpose driven: if a leader veers off track so will the team!, Engaging Generation Z through Creative Media, Decent work and decent work places, Engaging middle managers to engage employees, Making engagement happen will be the business decision for the next century, Engaging the “Sweet Spot” and administering the “People Pill”.


The event also features a private pre-conference cocktail for top executives with Ken Wright. Registration is available here.


Jamaica Business Development Corporation (JBDC) is an agency of the Ministry of Industry, Commerce, Agriculture & Fisheries.

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Published: 13 September, 2017
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The Jamaica Business Development Corporation (JBDC) has been established as one of the premier business support organizations in Jamaica, and is well respected by clients and funding institutions alike.

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