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Small and Medium-sized Enterprises (SMEs) have long been recognized as the primary drivers for job creation and GDP growth in most economies. In spite of this, access to finance continues to be a major problem for SMEs in Jamaica and, in fact, in most countries. The DBJ believes that the development of a dynamic venture capital industry in Jamaica represents a viable option for creating greater access to long term ‘patient’ financing, particularly equity capital, to high potential SMEs, in Jamaica, allowing them to invest in the start-up, expansion and growth of their enterprises.
Venture funding depends on the size of the firm which should be able to demonstrate that its business model is in pland andthat growth and expansion prospects will be attractive to a venture capitalist. The business should have a formal structure of reporting, corporate governance and having an appropriate management structure in order to meet the requirements of an equity partner.
Audrey Richards, Coordinator, the Jamaica Venture Capital Programme
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