Montego Bay, June 29, 2019 – Jamaica – The St. James Municipal Corporation has doubled its support to small entrepreneurs in the parish under the Local Economic Development (LED) Programme.
Chief Executive Officer (CEO) at the Corporation,
Gerald Lee, said that $10 million is being spent this fiscal year to assist
some 400 persons to push-start business operations.
Approximately $5 million was allocated under the
programme during the last fiscal year, which benefited 200 entrepreneurs.
Mr. Lee was speaking to JIS News at the 2019 LED programme launch and training session for
grantees at the Montego Bay Cultural Centre on Thursday (June 27). He noted that the LED programme, which is an initiative
under local government reform, seeks to engage persons in economic activity that
can allow them to improve their livelihood and take care of their families, and ultimately empower
communities.
Mr. Lee told JIS News that persons will be provided with grants of up to $50,000 each to develop a small business and they will be monitored to ensure that the ventures are sustained.
“We have a local economic development officer, who
monitors the programme and ensures that it is workable and that the persons who
are making applications for these grants really qualify. If they are going to
go into chicken rearing, we ensure that they provide the infrastructure and
then we provide them with the working capital to start the business,” he said.
Mayor of Montego Bay and Chairman of the St. James
Municipal Corporation, Councillor Homer Davis, encouraged the beneficiaries to
commit to growing their businesses through profit retention.
“If we can empower our people, then you will
realise your dreams of taking care of yourself and taking care of your children…
. This initiative is one for you because we want to see an improvement in your
living standard. So… I want you to grab it with both hands,” he said.
During the session, the beneficiaries were
educated on how to plan for business success, budgeting, profitability and the
benefits of developing business partnerships.
The LED programme, being implemented by the Local Government and Community Development
Ministry, aims to establish economic activities/enterprises in communities
across Jamaica; support small and micro enterprises enabling them to attain
financial viability and/or expand their businesses; and positively impact the
gross domestic product (GDP).
Under the programme, local authorities are
expected, in collaboration with local stakeholders and relevant national
external partners, to formulate and execute appropriate strategies and
programmes that can impact job creation and poverty reduction.
Contact: Nickieta Sterling
Release: JIS
Photos by Nickieta Sterling.
Header: Beneficiaries of the St. James Municipal Corporation’s Local Economic Development (LED) Programme, listen attentively during a training session at the Montego Bay Cultural Centre in St. James, Thursday (June 27).