Over 100 Entrepreneurs for NCB SME Conference
27 May 2015
Over 100 entrepreneurs are gearing up to attend the National Commercial Bank Jamaica (NCB) Limited second bi-ennial small and medium enterprise (SME) Conference scheduled to be held next weekend (June 5 to June 7) at Secrets Resort and Spa in Montego Bay, St. James. This conference, which follows on the heels of the highly successful first staging in 2013, will seek to increase financing to the SME segment of the business sector to facilitate increased economic growth and to strengthen the capacity of SMEs to access financing from various sources, including, but not limited to commercial banks, private equity and venture capital funds. Audrey Tugwell Henry, Senior General Manager for Retail Banking at NCB said that the Conference is part of NCB’s continued commitment and unwavering support to Jamaica’s SMEs. She noted that NCB continues to strategically focus on SMEs as a key business segment, while supporting the national socio-economic developmental objectives, adding that the Conference has been heavily subsidized by NCB so the SMEs could affordably access. Mrs Tugwell Henry indicated that from the 2013 pool of SMEs, eighty (80) participated in a two day intensive boot camp with renowned ActionCoach CEO Marcia Woon Choy and twenty (20) were further selected to participate in an eight (8) month intensive business training programme funded by NCB and the Inter-American Development Bank (IDB). “Each participant in this programme, which concluded in March 2015, has reported significant growth in their revenues and profits based on the tools, knowledge and network accessed through the programme. A select number of participants also went on to participate in the inaugural season of NCB’s Capital Quest and received significant publicity and additional growth for their businesses,” she said. To this end, the Conference will include hands-on workshops and interactive sessions to help attendees seize global opportunities, access financing and increase productivity and sales through technology and e-commerce and many other topics. From the pool of participants this year, some will be further selected for additional capacity building interventions funded by NCB. Mrs Tugwell Henry said that for SMEs seeking to take their businesses to the next level, developing a relationship with a financial institution is a critical enabler. “It is necessary to view the relationship as a lifetime partnership which evolves based on the life stages of a business. While many SMEs are familiar with our traditional banking solutions (deposits and loans), the NCB Group, comprising seven business lines and subsidiaries across Jamaica, Cayman and Trinidad and Tobago – provides a complete suite of financial products and services to meet the broad spectrum of business needs,” she stated. Participants in the Conference will get a chance to interact with a host of top local and internationally acclaimed industry experts who will share their vast knowledge and experience with SMEs. The Hon. Dr. Peter Phillips, Minister of Finance and Planning will set the tone for the conference on Friday evening with a discussion on the economic outlook and initiatives in progress to support the SME sector. The keynote speaker will be Dr. Randal Pinkett, Chairman and Chief Executive Officer of BCT Partners and the only African-American to ever win NBC’s ‘The Apprentice’, who was specially invited by NCB to address the entrepreneurs. Other specially invited guests include:The Hon. Anthony Hylton, Minister of Industry, Investment & Commerce; Valerie Viera, Chief Executive Officer, Jamaica Business Development Corporation (JBDC); Brian Pengelley, President of the Jamaica Manufacturers’ Association; William Mahfood, President of the Private Sector Association of Jamaica; and Milverton Reynolds, Managing Director, Development Bank of Jamaica, among others.
