Growth & Jobs | JBDC aiming to alleviate MSMEs’ anxiety amid digital transformation push

THE JAMAICA Business Development Corporation (JBDC) is optimistic that the Digital Jamaica Summit & Showcase hosted at The Jamaica Pegasus hotel recently will offset some of the anxiety among micro, small and medium-sized enterprises (MSMEs) as they seek to go digital with their operations. Hundreds of entrepreneurs demonstrated an interest when they participated in the event designed to kick-start the training component of the Digital Jamaica Project.

JBDC Chief Executive Officer Valerie Veira, while speaking during the opening ceremony, said, “There’ll be a little anxiety. And guess why I’m excited about that? It means that when you leave, you’re gonna say, ‘Hey, I need to get on this train fast, now.’ And that anxiety spurs action. As we say at JBDC, you move from panic to passion and just get it moving,”

Under the €9.5m Digital Jamaica Project, JBDC is committed to upskilling 2,700 MSMEs in digital technologies.

This initiative will support their digitisation, digitalisation, and overall digital transformation, making a significant impact on the Jamaican business landscape.

Veira added, “We’ve completed year one, where we were getting our tools right, designing the programmes, and sharpening all the pencils. Now, we’re launching year two. This is the exciting part where we actually go out. It’s field time. We go out into the field, providing hands-on support to our MSMEs. We’re getting into your businesses, conducting workshops, holding sensitisation sessions, and delivering comprehensive training.”

BUILDING DIGITAL LITERACY

Through a structured approach using education and support, the project seeks to build digital literacy and competency among MSMEs. This strategic initiative includes training, mentorship and targeted campaigns.

Senator Aubyn Hill, minister of industry, investment and commerce, urged MSMEs to embrace digital technologies to enhance their productivity. “Productivity also increases when you bring technology in. To make sure you cut out some of those steps that you would have to do and make it a lot more efficient, you put innovation in there. That’s what this programme is about.”

A survey conducted by the JBDC reveals that a moderate 32.44 per cent of respondents use digital technologies daily and understand their benefits well, indicating practical familiarity.

However, a notable 16.74 per cent are still unaware of these benefits, and only 26.45 per cent have heard about them, suggesting a need for increased education and awareness initiatives to bridge this knowledge gap.

The results from the JBDC’s survey are being used to guide the focus areas for the training. Through a panel discussion and several presentations, the event provided introductory information on digital technologies, including website development, e-commerce, digital payments, digital marketing, cybersecurity, data protection, financial management, team management, artificial intelligence, customer relationship management, trade, cloud computing, hardware and software.

Several members of the Jamaica Technology and Digital Alliance were on hand to showcase their products and services designed to offer a seamless digital transitioning experience for MSMEs.

Attendees at the event were given the opportunity to pre-register for the upcoming training sessions. With the training set to be implemented over two fiscal years (2024-2026), the target for year one is 700 MSMEs. Approximately 600 persons have pre-registered.

Of note, the sessions will be limited to a maximum of 20 participants at a time. Registration will be ongoing, as the sessions are scheduled and announced. Persons may get more details on the project at www.jbdc.net.

The JBDC is the government’s premiere business development agency under the Ministry of Industry, Investment & Commerce.