We resolve to continue playing our part in engendering growth

IT IS a special year for us as the Private Sector Organisation of Jamaica (PSOJ) celebrates its 45th anniversary. THE FOUNDING fathers of the organisation envisioned several key objectives for the PSOJ, including advocating on behalf of its members, acting as the unifying voice for the private sector, as well as coordinating the resources within the private sector, with specific emphasis on economic development. Successive presidents have been committed to this mission, and it is my honour to serve as the 19th president of this impactful organisation and to maintain the tradition of transformation at the national level as we focus on strong advocacy, but underlined by active engagement and execution.

I give my heartfelt gratitude to the members who serve tireless on our council, executive, and on our various standing committees. Your contribution is invaluable and this milestone was realised because of your work, as you are the heartbeat of the organisation.

As we reflect on the achievements of the past, we look ahead to the future and the role the organisation will play in shaping a Jamaica that we are all proud to call home, and one that increases inclusive and equitable growth.

Our 45th year has been underscored by the looming presence of a pandemic that has provided unprecedented challenges but, simultaneously, has demonstrated the power of the PSOJ network through collaborative and solution-oriented national projects, such as the PSOJ COVID19 Response Fund, Connect a Child, Children Helpline, E-commerce National Delivery Solution (ENDS) and the Private Sector Vaccine Initiative (PSVI). Perhaps more importantly, the pandemic has demonstrated that the nation is capable of responding to challenges for the common good through public, private and civil sector partnership.

Our Private Sector Vaccine Initiative demonstrates the high priority the PSOJ puts on the vaccination of our workforce, in ensuring that we protect our workers, customers, families and communities. The PSVI complements the Government’s effort in achieving a minimum of 65 per cent level of vaccination of our population.

Additionally, the PSOJ Access to Finance Panel, which was initiated in 2019 to focus on increasing access to finance for MSMEs, has played a key role in advocating for policies and initiatives to provide relief to companies, as well as allow for business continuity and digitisation. The organisation, through the PSOJ Access to Finance Facilitation Panel responded to the pandemic by creating and communicating strategies through the weekly ‘COVID-Cast’ business podcast and three game-changing virtual conferences. Through these media, guidance was provided to the more vulnerable MSMEs to navigate this difficult period, along with strategies to pivot and to digitise their businesses.

Over the last 18 months, the PSOJ has hosted three major virtual conferences with record-breaking attendance and engagement. These conferences focused on the first ‘Crossing the Chasm’, which focussed on challenges and opportunities created by the COVID-19 pandemic and, subsequently, the digital and financial literacy conferences, which broke down the content into non-technical communication style, which was well received and continues to be available on the website smallbusinessportal.com.

The PSOJ played a lead role in providing leadership and support to the COVID-19 Economic Recovery Task Force and was instrumental, through the leadership of the Local Services Committee, in developing guidelines and protocols for the opening of businesses and the economy.

The PSOJ is happy to have played a part in developing and executing strategies and projects in a once-in-a-century pandemic which has challenged us globally, and especially the more vulnerable in our country.

Whilst we have seen relative stability in our fiscal and macroeconomic indicators, we have a steep hurdle to climb as we simultaneously tackle matters of corruption, crime and public order, low productivity levels, digital transformation, formalisation and MSME development. This must be underpinned by a focus on our environment and climate change, to ensure the sustainability of our industries and the future of our citizens. We will continue to be constructive, solution-oriented, with a positive mindset as we look to continue to make our contribution to human capital development and inclusive growth, which has a focus of increasing per capita wealth to drive domestic spending that will spur growth in our domestic economy.

We celebrate this anniversary and resolve to continue to proactively play a part in developing an environment that is beneficial to businesses, while engendering growth and development in Jamaica through advocacy and action.