President of the Small Business Association of Jamaica (SBAJ) Garnett Reid is calling on the government to provide more targeted interventions to assist small businesses.

Mr. Reid says small businesses want to move beyond survival mode and need a direct path away from high-interest loans and the associated cumbersome paperwork.

Mr. Reid highlights data from the Planning Institute of Jamaica’s Economic and Social Survey of 2023, which indicates that sales from MSMEs rose by 1.2% over 2022, totaling $207.4 billion.

The SBAJ president asserts that these figures demonstrate the sector’s resilience, but he adds that more is required to ensure their sustainability.

While acknowledging efforts made through government initiatives, such as tax incentives and business development programs, Mr. Reid says these measures must go further to address the real, day-to-day challenges faced by MSMEs.

Mr. Reid adds that the SBAJ is committed to working with the Ministry of Industry, Investment and Commerce to craft practical, actionable solutions that reflect the realities of Jamaica’s small businesses.