ESTABLISHED AS ONE of the premier support organisations for businesses in Jamaica, the Jamaica Business Development Centre (JBDC) provides advice, consultancy and training to enable businesses to survive and prosper in the local and global marketplace.
More than 4,000 businesses have benefited from the work of the JBDC, which was established five years ago.
In a JIS release, Chief Executive Officer at the JBDC, Valerie Veira, says that the organisation has, over the years, successfully guided business that are starting up and serves as a consultant to established businesses.
"JBDC is a uniquely structured organisation consisting of a set of designers, who help with product development; engineers who assist with process development and our business officers, who deal with the bookkeeping and structuring of the business," Ms. Veira says.
The CEO notes that the centre provides "A full packaged service" stemming from "concept to market."
"We provide a kind of filtering for your ideas to identify those that are commercially viable and assist clients to make selections based on market trends," she adds, noting that the centre assists persons to structure their business plan, which is a necessary tool or 'road map' for their business.
Identifying the appropriate sources of funding for the particular project is an area in which the JBDC plays a key guiding role, advising the client on developing the product or service, while taking into account cost and marketing.
Ms. Veira adds that the JBDC advises the client about identifying possible partners in the market as well as negotiating contracts and recruiting and training persons, who will be involved in the operation of the business.
Through collaboration with the Development Bank of Jamaica (DBJ), the agency provides loans to innovative and viable micro, small and medium enterprises that require assistance.
Ms. Veira explains that the DBJ has created a revolving loan for disbursement to new or innovative industries by providing seed money and capital for expansion. Businesses involved in the fashion industry, agro-processing and craft, have benefited from loans under this initiative. "JBDC covers the fashion industry in general since it's always on the lips of Jamaicans," she adds.
Meanwhile, the agency is capturing the energies and potential of young people, through the Building Youth for National Development Programme (BYOND), which targets youth who are unemployable because they lack marketable skills and work experience, and provides them with training and entrepreneurial opportunities.
Ms. Veira explains that the BYOND programme targets the age cohort of 17 to 40 and entails an internship and grant component.
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