Jamaica SMEs Survey 2013

Balcostics Research in partnership with the Private Sector Organization of Jamaica (PSOJ) conducted a survey of Jamaican SMEs who were in attendance at the recently held “NCB/ IDB SME Conference” sponsored by the National Commercial Bank of Jamaica (NCB), and the Inter-American Development Bank (IDB).  The conference was held over a three day weekend (June 21st -23rd,2013), at the Hilton Resort and Spa in Montego Bay.

Watch our review of the report findings below via Balcostics Ed

The Survey/ Research provide answers to the following questions:

1. What is the demographic profile of Jamaica’s Small Business Enterprises (SMEs)? (age, gender, education level, years in operation)
2. What are the main challenges facing Jamaican Small Business Enterprises (SMEs)?
3. What are the main reasons Jamaicans choose entrepreneurship?
4. What type of social media, if any, are Jamaican entrepreneurs using in their businesses?

Main findings from the survey:

1. Access to financing is the main challenge facing Jamaican Small Business Enterprises (SMEs) – 50% of participants
2. Government policies (15%), Administrative procedures (11%) & Limited Workforce were among the other notable factors affecting Jamaican Small Business Enterprises (SMEs)
3. Use of financing: the majority of Jamaican Small Business Enterprises (SMEs) would use same for expansion (94%)
4. The precise purpose of financing is outline in the video review (above) or pdf presentation (below):

Download a copy of the presentation Report highlights: click here

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