Entrepreneurs are seen as the best person to organize a business, structure the financial and daily operations in order to make a profit with a considerable amount of risk involved. One thing the definition does not say is that the entrepreneur needs to have the next big idea to revolutionize the world. Entrepreneurs are critical thinkers, with ideas to make things work as efficiently as possible. This means the next business may not be a new business, just making an existing on better.

It is good to know that amidst the difficult times businesses may face especially during start up that the Jamaican government has been able to increase loans to small businesses. Since 2015 government has been working hard to maintain good relations with small businesses, the Development Bank of Jamaica (DBJ), the Government’s main vehicle for providing financing to the sector, lent approximately $1.3 Billion to the micro and small business sector in 2014. This represented a 14% increase over the – amount provided in 2013. For the financial year 2013/2014, the DBJ provided $2.3 Billion in loans for micro, small and medium businesses. A total of 1000 of these loans were disbursed through Micro Finance Institutions.

Some of the DBJ’s loan facilities include: The Small and Medium-sized Enterprises Development Line of Credit; The Fishermen’s Revolving Loan Scheme; The Modernization of Agriculture and Agro-Processing Facility; and The Combined Disabilities Association Limited Special Line of Credit; among others. The Prime Minister also pointed to other public sector entities that continue to provide funding to small businesses. These include the Micro Investment Development Agency (MIDA) which provided more than $150 Million to micro, small and medium businesses last year.

Many times a lot of time is spent in the thinking process trying to formulate the new idea, however this is an entrepreneurial black hole. The idea of turning an idea into a living breathing business is an action that requires planning and hard work. After speaking to several business persons their is an underlying factor and that is hard work.

In addition to hard work there are some other key factors that can guarantee success;

Confidence, doubting yourself or your product is the quickest way to give up on what you are doing. In business you will be hit down more times than you succeed so take every experience as an opportunity to learn.

Being Meticulous, this is something persons who are starting business sometimes shy away from for fear of being overbearing. This is not the time for fear, attention to detail and triple checking is crucial. When clients, customers and investors know you are careful and precise with your business they will want to do business with you.

Honesty, sometimes underrated this can be one of the most important factors in making a lasting impression. Not to say persons will always appreciate your honesty but they will respect it. Make your mark early with a firm honest opinion and back it up with good honest work.

As an entrepreneur your business is an extension of your character, when business people know what type of person you are they expect that to be reflected in the type of operation you run. Before the next big idea, be sure you are the type of person people want to listen to.