Headlines:
| Review loan mechanisms available to small business owners – Senator Golding |
|
|
| Monday, 06 October 2008 | |
|
Senator Mark Golding, Opposition Spokesperson on Industry
and Commerce, is calling for a review of the mechanisms through which small
businesses can access concessionary loan funding. Senator Golding's call follows statements made by Industry and Commerce Minister, Karl Samuda, bemoaning the low level of take-up of loan financing available to the small and micro business sector. Mr. Samuda cited a $1 billion facility available from the Development Bank of Jamaica, which he said was being under-utilised. In light of this, Senator Golding is urging the Minister to bring the stakeholders together to find practical ways to strengthen the existing arrangements and expand the reach of the overall programme. Senator Golding said Jamaica has one of the highest overall rates of entrepreneurial activity in the world, and as such, the small and micro business sectors present great possibilities for employment creation. He added that the development of these sectors would also improve the overall cohesion of the society, by creating greater numbers of stakeholders in the economy. |