MSME Owners Encouraged to Keep Records

first_img Speaking at the Ministry’s CEO Breakfast Forum held at the Courtyard by Marriott Hotel, in New Kingston on May 2, Mr. Shaw said since he was appointed the new Minister in March, he has identified that one of the restrictions to farmers and other MSMEs getting access to loans, involves them not having records and business plans in documented formats. Story Highlights Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, is encouraging micro, small and medium-sized enterprise (MSME) owners, especially farmers, to keep records of their business activities, so they can have better access to loans and other capital they need for growth. “The small and medium enterprises must recognise that they too have a duty and a responsibility to become formal, and the policies that the Government is driving, and will be driving, is that ‘get formal, get transparent, write a business plan, do the things required of a formal business’, and you will be in a position to access money at much more competitive interest rates, including single-digit interest rates,” Mr. Shaw said. Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, is encouraging micro, small and medium-sized enterprise (MSME) owners, especially farmers, to keep records of their business activities, so they can have better access to loans and other capital they need for growth.Speaking at the Ministry’s CEO Breakfast Forum held at the Courtyard by Marriott Hotel, in New Kingston on May 2, Mr. Shaw said since he was appointed the new Minister in March, he has identified that one of the restrictions to farmers and other MSMEs getting access to loans, involves them not having records and business plans in documented formats.“The small and medium enterprises must recognise that they too have a duty and a responsibility to become formal, and the policies that the Government is driving, and will be driving, is that ‘get formal, get transparent, write a business plan, do the things required of a formal business’, and you will be in a position to access money at much more competitive interest rates, including single-digit interest rates,” Mr. Shaw said.He pointed out that some financial organisations at the Forum are willing to assist needy MSMEs and farmers; however, potential borrowers are often sidelined because they do not have proper documentation to prove that they can repay and are qualified.“The context is that despite the MSME sector being by far the largest number of businesses in the country, we’re only able to attract about 18 per cent of the formal credit,” he said.Mr. Shaw said that with more microenterprise operators having access to loans, this would result in a reduction in the interest rates on loans that are currently being offered in the market, based on economies of scale.“The sector has been accessing money on terms and conditions that militate against competitiveness, productivity [and] the ability to penetrate export markets on a real viable basis,” the Minister said.Mr. Shaw reiterated that the Government’s primary role is to create an enabling environment that facilitates private-sector investment and production.Meanwhile, Managing Director, Development Bank of Jamaica (DBJ), Milverton Reynolds, agreed with Mr. Shaw, and emphasised that his organisation is willing to lend money to members of the MSMEs.“It’s not just the entire private sector that requires this focus (of having proper documentation), but, specifically, the micro, small and medium-sized enterprises, and so with that recognition, we at the DBJ over the last several years, have modified our approach and we have had to reorganise the way we do things to focus more on the MSME sector,” Mr. Reynolds said. in his address.He added that the DBJ wants to leave no sector or social group out of its policies and programmes, so not only is the bank focusing on MSMEs but it is also providing products for businesses at every stage of the business life cycle, specifically capital programmes.“No matter the size and level of the business, the DBJ can assist. From our low-interest loans to our collateral support programme, to capacity development support, right through to supply chains, we have a product or service for your company,” he said.For her part, CEO of the Jamaica Business Development Corporation (JBDC), Valerie Veira, said her organisation is willing to guide persons from the MSMEs on how to plan properly and complete the required documentation, as this “sector is the backbone of every country’s economic development”.The Forum was held in partnership with the OAS and the JBDC.last_img read more

Fitch US Could Opt to Withdraw from NAFTA

first_imgzoom The Trump administration’s appetite for renegotiating trade agreements will go a long way towards shaping future movement in both imports and exports.As the US started pulling out from the Trans Pacific Partnership, there is a possibility that it may do the same with the North American Free Trade Agreement (NAFTA), according to Fitch Ratings.Emma Griffith, Fitch Ratings Director, said that such a decision “is likely to lead to changes to import and export volumes along with the trade routes, though such impacts are not likely to materialize until next year at the earliest.”After experiencing a strong year in which ports on both coasts saw overall growth, the US ports are positioned for another solid year of growth in 2018, Fitch informed.“Moving to larger ships and implementing operational alliances have helped drive volume growth on both coasts in 2017,” Griffith said, adding that overall volume growth averaged 7.7% on the East Coast and 6.3% on the West Coast.Another notable development is how the expanded Panama Canal will influence cargo levels and shipper route planning. East Coast ports did see marginally higher growth in 2017 as compared with their West Coast peers.Also likely to improve prospects for the East Coast is New York and New Jersey’s air draft restrictions, which have recently been removed with the raising of the Bayonne Bridge. Meanwhile, other ports are pursuing dredging improvements for required 47-foot to 50-foot depths.last_img read more

AllTimers Team Up Jordan LeBron Kobe Sign Revolutionary Brand

Michael Jordan, Kobe Bryant and LeBron James have signed with Teneo, a branding company that signals that it is not enough for superstar athletes to have fame and fortune. They want the world.Fortune magazine reported this linking of the trio of basketball’s all-time greats with Teneo, whose previous sports business was limited to helping cities or organizations make bids for sports events, such as the Winter Games in Vancouver in 2010 and in Sochi in 2014,The merging of these ultra talents means athletes are taking brand management to a new level. Jordan, Bryant and James want to be CEO of their own brand. The athlete is the content creator and the face of the brand, according to Fortune.This will not eliminate the role of the agent, but Teneo aims to improve on the typical model — where athletes outsource their various business needs to a range of different specialists — by giving the athlete only one call to make for any number of business needs. Teneo has partnered with a few entities for help with these functions, including Wieden and Kennedy for creative, UBS for finance, and DLA Piper, a leading sports law practice, for legal services.Away from the game is where top athletes can make more money and impact. It’s about businesses and ownership and taking control. And it’s about being smart.It’s a broken model for athletes to go broke after their playing days. These three guys are leading the way in letting players know it’s OK to think big, to think beyond the proverbial box.James connection to Beats By Dre is an example Fortune cited. James was involved early, appearing in ads and using the product, not for any kind of endorsement fee but for an ownership percentage. That small stake, estimated at only one or two percent, reportedly brought James a windfall of $30 million when Beats sold to Apple last month for $3 billion.They are among the best to ever lace them up. Now they are leading the way for players to lace their bank accounts through branding. Pretty cool. read more

Lake Let Off

first_img Related Items:Grand turk airport, jags mccartney international airport, philippa lake, simon baler Recommended for you AIRPORT REOPENED after the day helping school with fire Facebook Twitter Google+LinkedInPinterestWhatsApp Cabinet approves private airport for Grand Turk; duty free concessions on CCTV Facebook Twitter Google+LinkedInPinterestWhatsAppGrand Turk, 17 Dec 2014 – The wife of Integrity Commission Investigator Simon Baker may have just dodged being blacklisted for travel for life; the Chief Magistrate has ruled for charges related to her so called ‘outrageous behavior’ at the Grand Turk airport to be dismissed. Confirmed to Magnetic Media by the Director of Public Prosecution, Joanne Meloche that Mrs. Lake-Baker decided to enter a guilty plea on two charges; one was dropped. Philippa Lake was facing three counts related to a major security breach at the JAGS McCartney Intl Airport where she claimed there was a bomb on the plane. The UK native was trying to stop the plane because she believed her husband’s sensitive information was on board. Lake’s extreme reasoning was not funny to officers in Grand Turk who eventually arrested and charged her on two counts for breaking through security and obstruction; the latter was withdrawn. The matter of the plea originated in Grand Turk. The actual sentencing element of the case was heard yesterday morning in Provo. Chief Magistrate Clifton Warner presided. Oliver Smith was Lake’s attorney. A conviction in this matter could have had serious implications for Lake in a post 9-11 world. Green Lighting instituted at TCI Airportslast_img read more

South Caicos Youth call on Education Youth Minister for books and repairs

first_img Teen dies mysteriously in South Caicos, Police investigate Recommended for you State of Emergency Declared for South Caicos South Caicos student new Junior Tourism Minister for TCI Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppProvidenciales, 14 Oct 2015 – South Caicos youth gave House Member, Ruth Blackman some homework and in Parliament Tuesday she spoke on their behalf to the Minister of Education, Youth and Sports, Akierra Missick. The government’s appointed member highlighted that text books have still not arrived, six weeks into the new school year and that youngsters point out that their canteen and playground are in dire need of sprucing up.Hon Ruth Blackman: “The young people of south Caicos have asked me to come to Parliament and they told me do not come back and sit in my car and watch them play ball if they have to play ball on a parade that is almost always flooded with water or have some water on the parade ground as well as the Canteen not being open and somebody given concession to operate that canteen. The wall is falling apart, we cannot sit on the wall because we do not know where the weakness of the wall is, and it could cave in under us at any time.” Related Items:akierra misick, ruth blackman, south caicoslast_img read more

Louis van Gaal announces his retirement from football

first_imgLouis van Gaal has announced his retirement from football on Dutch television after leaving Manchester United nearly three years ago.Just two days after bringing the FA Cup to Old Trafford in his second campaign, Van Gaal was dismissed by United in the summer of 2016 to make way for the incoming Jose Mourinho.The 67-year-old has since been spending more time with his family, despite being linked with a number of managerial vacancies that included a return to his native Netherlands to replace Giovanni van Bronckhorst as Feyenoord manager before Jaap Stam’s appointment.Nevertheless, Van Gaal leaves the world of football behind with an impressive CV after managing some of the biggest clubs in the business in Barcelona, Bayern Munich and Ajax.The former United boss also enjoyed a successful stint in charge of the Dutch national team, where he led them to a third-place finish in the 2014 World Cup.“I am a pensioner now. I have no ambition to be a technical director or a TV pundit,” Van Gaal told VTBL.“My wife Truus gave up her job for me 22 years ago, and followed me when I went abroad. I told her I would quit as a coach when I turned 55, but instead kept going until I was 65.“She is entitled to have a life with me outside of football. I can say she is very happy. I think I could have worked as a technical director.”In total, Van Gaal won 536 of his 888 games at managerial level for both club and country.The Dutchman won league titles in Holland, Spain and Germany along with being named the 1994/95 European Coach of the Season.Harry Maguire, Manchester UnitedLiverpool legend Nicol slams Harry Maguire’s Man United form Andrew Smyth – September 14, 2019 Steve Nicol believes Harry Maguire has made some “horrendous mistakes” recently, and has failed to find his best form since joining Manchester United.United stars Marcus Rashford and Anthony Martial both took to social media to pay tribute to their retired former boss upon his announcement earlier today.Van Gaal had handed Rashford his debut in the United senior team as a mere 18-year-old, while he was the one who brought Martial over to Old Trafford from AS Monaco in the summer of 2015.Thank you for opening the door & trusting in me. Enjoy retirement boss 👌🏾 pic.twitter.com/OqrEodNlz0— Marcus Rashford (@MarcusRashford) March 11, 2019Thanks for everything coach !! It was a honor to learn from you! 🙌🏾 pic.twitter.com/G1dYi1UJv0— Anthony Martial (@AnthonyMartial) March 11, 2019last_img read more

Teacher accused of distributing pornography agrees to stay in police custody

first_img Tuesday, April 24, 2018 L to R: Janet Cabral, Judge Andrew Schopler, David Gordon Weaks, Craig Smith.SAN DIEGO (KUSI) — A detention hearing scheduled for a Rosa Parks Elementary teacher accused of distributing child pornography did not move forward Tuesday.Instead, the fifth-grade teacher, 56-year-old David Weaks, agreed to stay in custody.He’s being held without bond.Beginning in late March, Homeland Security Investigations agents were conducting an investigation of individuals suspected of making files of child pornography available for sharing on the Internet through the use of a peer-to-peer file sharing program.On April 4, agents connected to a computer with an internet protocol address associated with Weaks’ residence in San Diego. Agents were able to download two videos directly from the IP address, both of which showed young minor females engaging in sex acts with adult males.Homeland Security agents, along with other law enforcement officers associated with the San Diego Internet Crimes Against Children Task Force, searched Weaks’ home yesterday morning pursuant to a federal warrant and seized multiple computers and other digital items which were found to contain child pornography.The Internet Crimes Against Children Task Force Program is a national network representing over 4,500 federal, state, and local law enforcement and prosecutorial agencies, all working to combat the sexual exploitation of children through the internet. Homeland Security Investigations is a member of the Task Force.Weaks has been charged with distributing pornographic images of young children. KUSI Newsroom, April 24, 2018 Posted: April 24, 2018 KUSI Newsroom Teacher accused of distributing pornography agrees to stay in police custody Categories: Local San Diego News FacebookTwitterlast_img read more