NEARLY 400 GRASSROOTS BUSINESSES BENEFIT ANNUALLY FROM SDC’S LEDSP
KINGSTON, June 28 (JIS):
Nearly 400 grassroots businesses are receiving vital support annually to grow, formalise and thrive through the Social Development Commission’s (SDC) Local Economic Development Support Programme (LEDSP).
Director, Local Economic Development at SDC, Avril Ranger told a recent JIS Think Tank that the programme began in May 2015 and has since become a vital source of technical assistance and capacity-building for entrepreneurs seeking to enter and thrive in the formal economy.
“We started out with 50 grassroots-based businesses, providing hand holding services to help them to matriculate in the formal sector, and at present I must say that we are hovering around 400 on an annual basis where we are providing business development support services,” said Ms. Ranger
“Our objectives include identifying and strengthening grassroots-based businesses, allowing for them to benefit from compliance training, business regulations, business registration and of course, we assist them to write grant proposals,” she continued.
Ms. Ranger noted that the SDC has developed a comprehensive suite of business development support services, which has enabled them to provide a variety of technical assistance to entrepreneurs.
The SDC also works in partnership with organisations such as HEART/NSTA Trust, the Ministry of Labour and Social Security, and the Companies Office of Jamaica to ensure that local economic initiatives (LEIs) are equipped to meet regulatory standards and achieve long-term sustainability.
“When they (LEIs) come in, we interview them, we find out w here the gaps are and we assist them from their business idea to actually producing or having their services up to scratch and meeting the criteria of all the operating entities across the island,” said Miss Ranger
She indicated also that each LEI benefits from a tailored work plan – Local Economic Development Support Plan – that maps out the path for their business to become formally established.
“We also have our capacity building, which is a whole package of different areas that we train our LEIs in, which include things like pricing, selling and how to be more confident as a businessperson,” she added, noting that LEIs also benefit from financial management training.
Ms. Ranger further highlighted capacity building as a major success of the programme.
“The area of capacity building has been one of our strengths where we have much success in how our LEIs have developed over the years and have become so confident that they are now taking the lead… They are the ones saying that we have seen this opportunity and we’ll be advancing, we need your support we need your coaching and mentor,” she said.
