How To Finance Your Startup in Jamaica

Money is one of the greatest barriers faced by startups. You’ve got a killer idea and you know that you’re on to something. A passionate flame burns within as you approach lending institutions and investors to get the capital needed to give your business the green light. To your dismay, no one else mirrors your passion.

How can you get the necessary help?

The Development Bank of Jamaica (DBJ) has a solution. Supporting small and medium sized enterprises (SMEs) is crucial for Jamaica’s development. Established in 2008, the DBJ has been working assiduously to fulfill its mandate to boost private sector development and, ultimately, the quality of life of Jamaican people.

They have raised billions to support Jamaican SMEs and continue to search for more funding opportunities. Entrepreneurs can receive loans, grants and other forms of financial assistance.  In fact, the DBJ has a technical voucher grant which ranges from $100,000 to $500,000 JMD. This grant provides the startup capital entrepreneurs need to develop business plans, perform shelf-life studies and secure patents.

Have you ever heard about the Jamaica Business Development Corporation (JBDC)? Established in 2001, this government agency provides a plethora of business support services. From business plan writing to marketing and research support, all entrepreneurs can find a safe haven to help their businesses thrive.

We Want Jamaican Businesses to Thrive

We often bad-mouth our political leaders for neglecting the small and micro businesses sectors. The truth is that our system isn’t perfect. However, this doesn’t negate the fact that support is available for those who’re serious about business growth. Don’t let your idea die! Visit the DBJ and the JBDC to get the support your business needs.

 

 

Published by Christine McLean

Christine is a passionate writer who is committed to the success of Jamaican businesses. She loves dancing and writing. Her aspirations include become one of the leading content marketing professionals and financial advisers in Jamaica.

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