A conference designed to help small- and medium-sized enterprises (SMEs) develop relationships with prospective funders is scheduled for Thursday at the Jamaica Pegasus Hotel in New Kingston.

The event is being staged by FundSME in partnership with Sagicor Bank.

FundSME, through its website ( fundsmejamaica.com), connects funders, like Sagicor Bank, with businesses.

“SMEs and start-ups oftentimes find it difficult to access the best type of funding to suit their particular business needs, and so this venture will expose a variety of businesses to the different outlets for financing,” a news release from Sagicor explained, adding that the partnership will allow SMEs to access funding through Sagicor Bank.

“While there are many small and medium enterprises in Jamaica, many lack the funding that they need and they have no idea what the best options and opportunities are out there for them to get the capital they need to grow and expand,” the release quotes Sagicor Bank’s Assistant Vice-President, SME Business Banking and Group Sales Natasha O’Neill-Dixon.

“That’s where the FundSME project will make a difference for businesses in Jamaica,” O’Neill-Dixon said.

Nollaig Fahy of FundSME noted that “the project to grow the SME sector in Jamaica is an innovative design that has had large success in other markets”.

He said that because SMEs worldwide are known as the engines of growth in any economy, the partnership with Sagicor Bank and similar funders is indicative of the commitment and investment that the financial sector is making to economic growth.

The news release pointed to a survey of owners and managers of SMEs pertaining to their views on how to cope with external pressures and achieve business renewal.

The survey, conducted by Dr William Lawrence of Mona School of Business, management found that fewer start-ups transition into established businesses. Only 1.7 per cent of established business owner/managers have expectations that their ventures will grow and create jobs within the next five years. Losses and financial problems account for 64 per cent of small business closures.

Clients who require information on the FundSME event can call 1-888-SAGICOR or visit any branch of Sagicor Bank.