OWNERS of small and medium enterprises who want to learn how to leverage social media for greater profitability can do so at a three-day conference put on by the National Commercial Bank (NCB) next month.

Among them is Lenovo’s Brand Ambassador Stephen Miller who will provide practical examples of how the appropriate use of technology can transform any business, the commercial bank said.

Furthermore, the enterprises can pay a subsidised cost to learn how to leverage cutting-edge technolgy to improve their company’s bottom line as well as learn how to increase operational efficiencies. Participants can also find out how they can access financing and service options.

In partnership with the Inter-American Development Bank (IDB), NCB will spend over US$500,000 ($47.5 million) on the event, which will gather local business leaders and innovators to share their experience and expertise with SMEs.

“It is widely accepted that the small business sector has the potential to create employment, reduce income disparity whilst contributing to socio-economic buoyancy,” said NCB’s Group Managing Director, Patrick Hylton. “SMEs are also considered an incubator for the development of entrepreneurial skills across all economic groups.”

He described SMEs as the backbone of most economies, accounting for over 90 per cent of all industries and five per cent of gross domestic product (GDP) worldwide.

The NCB SME Conference is being held from June 21-23 2013, at the Hilton Rose Hall Resort &Spa in Montego Bay, St James. It will be held under Component II of the Bank’s partnership agreement with the IDB.

NCB has designed a solid platform, the NCB Nation Builder, where its SME partners can design and build their financial futures and in turn, bolster the local economy.