Business View Caribbean | July 2022

24 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 7 the organization works across Ministries, across public/private, to ensure that the different nodules in the value chain are strengthened. So they know that there is the correct raw material available, etc., for the business to be sustainable in the market. Appropriate access to finance has been a perennial challenge for businesses in Jamaica, and the JBDC’s help with that is two-pronged. First, they make sure that the businesses themselves are structured sufficiently to attract the right financing. That’s one part of the equation. They also partner with the bigger financial institutions that exist in Jamaica to make sure the products they are marketing to the small businesses are appropriate. The JBDC team even trains those financial institutions on how to navigate the small business space and understand that these businesses have specific challenges and needs. Davis adds, “A third critical component is ensuring that the policy is in place to provide financial products for the different sectors. For instance, the social enterprise sector and what would be the appropriate policy framework to define what financial support for that sector would look like. We can help with these challenges.” One of the JBDC’s mantra’s, “How can we help you?” is both a question and a promise. “Helping is what we are about,” says Veira, “and when we’re talking about the creative and the unusual it means that we really have to enlighten our financial sector, which tends to be very traditional and thinks predominately of the risk. That is a big problem, because Jamaica is all about creativity.” A lot of the JBDC’s work is not only formalizing the businesses but collecting data in the way that will tell the real story of the contribution of the sector. Veira explains, “When we go to the government for resources, for instance, we need