JSIF launches $20-m development grant to assist microbusinesses in seven communities
THE Jamaica Social Investment Fund (JSIF) recently launched its Enterprise Development Project Grant which will give support to microenterprises from seven communities in Kingston, Clarendon and St James.
Under the Government of Jamaica’s Integrated Community Development Project’s (ICDP) Phase 2, the $20-million Enterprise Development Project is aimed at supporting sustainable employment and income generation, and providing economic support to businesses impacted by the novel coronavirus pandemic within the targeted communities.
From a call for proposal, 510 applications were received of which 115 enterprises were selected and will be able to access up to a maximum of $400,000 towards improving their businesses.
The communities to benefit from the project are Denham Town, Greenwich Town and August Town in Kingston, Treadlight in Clarendon, Anchovy, Salt Spring and Mount Salem in St James.
Speaking at the recent launch event held at the Spanish Court Hotel in Kingston, Managing Director Omar Sweeney indicated that the projects that JSIF undertake is important to the building of communities.
“Oftentimes in Jamaica we hear build and we think about roads, zinc fences removals or schools, but we also have to build enterprises. We have to ensure that the economy of the community is such that they can sustain themselves,” he said.
“Why is it that people can’t live where they work or work where they live as they say? They also shouldn’t have to leave the community to get services and products. So it’s very important that we build the ability of micro and small enterprises in communities to be the provider of goods and services,” Sweeney continued.
Shaw Castell, a registered fisherman at the Greenwich Town Fishing Beach and one of the beneficiaries of the project, said it’s interventions like the Enterprise Development Project that paved the way for small business owners.
“As a young entrepreneur it is not easy to see opportunities and take advantage of them, due to lack of funding. As an owner of a fishing business with employees, I realise that I have a responsibility, not just to provide for myself but for my employees’ families. I continue to be a champion in the fishing industry and grateful for JSIF for having programmes that can assist young entrepreneurs to grow their business,” Castell said.
Denham Town vendor Lorna Green shared similar sentiments while highlighting her own entrepreneurial journey.
“Mi start the business from a tarpaulin to a board shop ‘til now, me gone a concrete. I thank JSIF for what they have done for me and many many more to come,” she proclaimed.
Castell and Lorna were both presented with gifts for their businesses from JSIF.
Guest speaker, Minister of Industry, Commerce and Investment Audley Shaw, also commended JSIF for the timely intervention that will assist in the country’s economic rebuild post COVID-19.
“[This initiative] is a welcomed intervention amid the ravages of one of the most challenging period of all time. As Government we are aware of the umbilical relationship between social ills and the unavailability of resources to support legitimate and viable economic endeavours and that is why projects such as the ICDP 2 are so critical and crucial,” he said.