NCB moves to build capacity for growth of SMEs
22 Jun 2013
Approximately 80 small and medium sized enterprises (SMEs) will be selected for a series of Business Building Boot Camps that are to be staged by the National Commercial Bank Jamaica Limited (NCB) in partnership with the Inter American Development Bank (IDB) over the next several months. This was announced by the Bank's Senior General Manger for Retail Banking Audrey Tugwell Henry in the opening session of the 3-day NCB_IDB SME Conference now on at the Hilton Rose Hall Resort & Spa in Montego Bay St James. Mrs. Tugwell Henry told the almost 140 SMEs registered at the Conference that that those among them who were selected to be a part of the programme would be facilitated with specific training by ActionCOACH's Certified Business COACH Marcia Woon Choy. Once the selected SMEs complete the two-day business-building workshops in this phase of the business coaching programme, twenty (20) firms will be chosen to participate in a more extensive ActionCOACH Group Coaching Programme. This is intended to help SMEs to create a business that is profitable, commercial and can operate in their absence. SMEs will spend approximately sixteen (16) half day sessions every other week starting in September 2013 and ending June 2014, explained Mrs. Tugwell Henry. "At the end of every quarter SMEs will attend a one-day planning session to develop Action Plans to obtain specific goals in the following quarter. Also included is a one-day business plan preparation session to help you to put together a business plan for either lenders or investors," added Mrs. Tugwell Henry. Financial performance reviews will be done at the end of each month to ensure the strategies learned and implemented are having results. The BusinessCOACH will also conduct one-on-one sessions to review the direction of the SMEs at the end of the programme. In the afternoon session of day two of the Conference, the Bank disclosed it was preparing to launch the NCB Capital Quest in partnership with the IDB, PSOJ and others. This is a comprehensive programme which will foster a special 'ecosystem' of financing for SMEs that will enable the growth needed in Jamaica. More details will be available in the coming months.