25 SMEs announced for transformational Scotiabank Vision Achiever programme

As the COVID-19 pandemic continues to evolve, there has never been a more pressing need for organisations to rethink and reconfigure their businesses for a changed world. Amid these changes and challenges, Scotiabank Jamaica has renewed its commitment to the development of the nation’s SME sector for the 10th consecutive year.

Another 25 small and medium-sized enterprises (SMEs) that are set to embark on a transformational journey through the Scotiabank Vision Achiever Programme were announced at the launch of the 2021 edition on Tuesday, March 9.

According to Perrin Gayle, senior-vice president, retail banking, who gave an overview of this year’s programme, the bank remains confident about the relevance of the capacity-building programme, which, through intricate training, has helped to develop more than 225 businesses since its inception in 2011.

“Jamaica’s small and medium-sized enterprises play key roles in the economy, and the mere fact that these SMEs selected as part of the 2021 cohort are still in business, despite the current challenges facing the sector, makes us optimistic about their capacity for future success,” Gayle said.

Long-term strategies

Meanwhile, guest speaker, Richard Pandohie, chief executive officer and managing director of Seprod Limited and president of Jamaica Manufacturers and Exporters Association, during his presentation encouraged the Vision Achievers to gain a deep understanding of their businesses, stick to their long-term strategies and understand consumer behaviour, especially during the current pandemic.

“You need to research and try to understand consumer behaviour so you can know how to treat your business. You are creating value and turning that value into a profit for your organisation. So, understanding the consumers and what they want and how to fulfil that desire is important,” Pandohie said.

The Scotiabank Vision Achiever is a 17-week, seven-module programme, led by Action Coach Marcia Woon Choy. The programme is designed to impart core competencies

required for running a profitable business, that will include training in sales, systemising business processes, marketing and understanding business financials; but more important, building each participant’s capacity as a leader.

The 2021 participants will benefit from an investment of over $20 million through the training that will be provided by Scotiabank, with additional prizes of $4 million to be shared between the top three finalists.

The Scotiabank Vision Achiever programme has been a long-standing part of Scotiabank’s offerings to SMEs and is open to any eligible business, including companies not aligned with the bank.