Art isn't limited to face-to-face sales. There are a myriad of online platforms that allow talented individuals to gain income through maximizing their artistic skills. But what separates the winners from the losers? People who take the time to deliberately hone their artistic talent turn out to be the ones who are able to transfer their... Continue Reading →
5 Ways Your Small Business in Jamaica Can Survive the Coronavirus
Each small business in Jamaica is unique. There are car marts, cook shops, restaurants, boutique hotels, clothing stores, street side vendors and the list goes on. Each small business in Jamaica plays a critical role in fueling the country's micro-economic framework. The coronavirus came in like a flood, washing away a lot of what these... Continue Reading →
$375,000 Tax Give Back – What It Means for Your MSME
The cries of MSMEs are being heard. Dr. Nigel Clarke presented another economic stimulus package that has some direct benefits for small business owners in Jamaica. It's great news if you understand how to apply it. The most memorable aspect of his budget presentation was the 1.5 percent reduction in G.C.T. A reduction from 16.5... Continue Reading →
10 Tips for Managing Small Business Finances
Small business owners in Jamaica often complain about inadequate access to financing opportunities from financial institutions. Two critical factors scare many financial institutions away: 1. The high risk of a small business in Jamaica because the business’ earnings are so volatile. 2. Poor financial record keeping. Can we blame them? They have billions of depositor’s... Continue Reading →
Should I Start an Air BnB in Jamaica?
Jamaica’s hoteliers are concerned. The Air BnB industry is growing with more than 10,000 active listings. However, some are using the cloak of an Air BnB listing to boycott tourism taxes under the guise of being “a small man trying fi mek a likkle money”. There’s nothing wrong with trying to make some money with... Continue Reading →
Are You Cut Out to Be an Entrepreneur?
Global statistics on entrepreneurship reveal that approximately 582 million entrepreneurs exist globally. Many people believe they have the “it” factor. They do what they do well, have found a product (or service) that is sure to sell, and want to turnover money quickly. So, they start a business. No research, no groundwork, no mental preparation...they... Continue Reading →
What Does the TCC Mean for Your Business?
The Tax Compliance Certificate (TCC) tends to be a gray area for small business owners in Jamaica. You know that paying taxes is important and you want to be tax compliant but how does the TCC fit into this picture? This article helps clear up this fuzzy area. If you want to learn more about... Continue Reading →
The Importance of Giving Back: Corporate Social Responsibility
Corporate Social Responsibility (CSR) has several definitions but there is a common thread connecting them- the social and economic benefits of giving back to the community and protecting the environment. Small business owners may think the costs of implementing a CSR are too expensive, especially when corporate governance and CSR reporting are considered. However, the... Continue Reading →
Starting a Business in Jamaica: Building and Sustaining Wealth for Entrepreneurial Success
The road to entrepreneurial success in Jamaica is unpaved, bumpy and riddled with potholes (much like some of our actual roads), but a true Jamaican imbued with our natural grit and stick-to-itiveness would know that any road is navigable if you have the requisite knowledge and skills to run that route. Building and sustaining wealth... Continue Reading →
The Ultimate Productivity Guide for Solopreneurs
Today I don’t feel like doing anything. I just want to lay in my bed. Don’t feel like picking up my phone so leave a message at the tone. 'Cause today I swear I’m not doing anything, nothing at all! Have these famous words from Bruno Mars’ hit song “The Lazy Song” been ringing in... Continue Reading →