Western Bureau:
THE JAMAICA BUSINESS Development Centre (JBDC) is based at 14 South Camp Road in Jamaica, but its reach expands into the international and regional arenas.
According to information from the centre's website, www.jbdc.net, the centre administers programmes supported by the United Nations Development Programme (UNDP), as well as banana paper and toy making projects supported by Japan.
The centre also administers a regional programme supported by Canada, as well as being involved in the development of the Guyanese apparel industry.
In Jamaica, the JBDC is involved in the modernisation of the apparel and fashion industry, as well as a similar modernisation of the craft industry.
These large scale initiatives may not mean that much, however, to the person who is heading to 14 Camp Road for advice on how to get their product out to the buyer at a price which ensures them a profit, as well as how to manage the finances of the business. For these persons, the JBDC offers certain specialized business services.
Among them is cash flow planning, where the centre assists the businessperson with projecting when and how much income will be generated, then measuring the forecast against the actual return. In addition, where a business is in expansion, the JBDC will help with planning of spending on fixed and working capital.
With the preparation of budgets, cash flow and profits forecasts, the businessperson should be in a position to approach a financial institution for funding.
The centre will also tailor accounting advice to individual situations, covering from start-up requirements to using computers and understanding financial information, for use as a business tool.
Development is, of course, at the core of the centre and, to this end, workshops and seminars are a regular feature. The Business Dialogue, the centre's quarterly publication, provides information on two such workshops in its first publication for 2004. 'The Right Way to Getting Started' (BDT1) covers identifying business opportunities, a checklist for going into business, the legal requirements and how to finance it. 'Strategic Planning and Developing Success Strategies' (BDT2) stresses the importance of business planning and the business planning process, formulating mission statements, marketing, management and financial projections.
Further specialised training is available in areas such as pattern making and fashion trends.
That first quarter 2004 issue of the Business Dialogue also deals with 'Income Tax and Farmers', informing us that farmers can get tax relief, outlining the steps that must be taken, from application to being gazetted.
And, for those who are really interested, a farmer is defined, from the growing of food crops and lumber to bee and fish farming.
