Small businesses in St James receive grants

More than 100 small-business owners in St James are benefiting from grants totalling $2.6 million, provided through the St James Municipal Corporation's Local Economic Development (LED) Fund.

The fund is aimed at fostering local enterprise growth and economic development in the municipality.

Recipients received monetary assistance ranging from $5,000 to $50,000, given the nature of their business.

Speaking at the LED Grant Distribution Meeting at the Corporation's Chambers on September 18, Mayor of Montego Bay, Councillor Richard Vernon, emphasised that the grant is intended for the sole purpose of business.

“It is a business grant, not a give-up-money grant. We are helping you to develop your business, because we want you to move from one stage to the next and continue to build out your business,” he said.

The meeting was aided by the HEART/NSTA Trust, which provided assistance with a short course on 'Business Success', to better help the recipients in managing their respective businesses.

“The importance of getting somebody to speak with you about entrepreneurship and business development is to guide you as to how you can go about getting more assistance… to build out your business,” the mayor said.

“More assistance is available, but you need to do the right things. For persons who move on to register the business, you will now be able to go to one of the small institutions – small microfinancial institutions – and apply for a loan because you have a registered business and you can show cash flow.”

Vernon also mentioned that businesses showing consistent effort could be included in the Linkages Programme, connecting them with the tourism sector to explore export opportunities and generate foreign exchange.

Head of the LED Division, Dr Joan Dove, explained that the programme supports those new to entrepreneurship.

“What you have a desire to do is what we work with, because if you select what you would like to do, we find that they'll put more effort in it than us deciding, because people have different skill sets,” she said.

She added that follow-up evaluations are done to ensure that the funds are used properly and to determine whether additional assistance is required.

“This is not a handout, so we do the evaluation. I check to ensure that the business is operational. If they're having challenges, they call me and then we see how best we can help them to work through those challenges,” Dr Dove said.

Grant recipient, Cohen Clarke, is appreciative of the programme, as it will greatly assist him in taking a step towards improving his business.

“I can structure my business properly [and] set a foundation [to] leave my legacy behind,” he said.

“I really appreciate all the sponsors and the Councillors that have reached out and made this LED programme beneficial to everyone,” Clarke said.

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