MONTEGO BAY, St James — Minister of Industry, Investment and Commerce Senator Aubyn Hill is making a strong appeal to big Jamaican companies to support local micro, small and medium-sized enterprises (MSMEs) before looking abroad, a strategy which he deemed will strengthen the economy.

“I am challenging you large companies, first to say make sure you look at ways you can find to include small companies in the stuff that you buy and the services that you buy. Don’t look overseas first, look at our micro, small and medium-sized companies. Why? Because when you build them they employ people that buy the stuff that you sell. It’s a symbiotic relationship that makes sense to both sides,” Hill said.

“Jamaican big business and small businesses must work together. The big ones help the smaller ones, the smaller ones step up to the plate,” he added.

In fact, the industry, investment and commerce minister argued that MSMEs form the core of employment in the private sector.

“Thanks to the role of micro, small and medium-sized enterprises, the Jamaican economy is undeniable. With 422,000 MSMEs, these businesses form the cornerstone of our workforce; employing 60 to 70 per cent of employees, accounting for 90 per cent of the private sector’s employment. That’s huge! That’s where many of you in here work,” Hill said.

He was speaking last week at the media launch of the Montego Bay Chamber of Commerce and Industry’s (MBCCI’s) 20th Biennial Trade Expo 2024 at the Montego Bay Convention Centre in St James.

The trade exposition is to be held from Friday, March 22 to Sunday, March 24, 2024 at Montego Bay Convention Centre, under the theme: ‘Future Forward: Shaping Tomorrow’s Business Today’.

Hill argued that the theme epitomises the need for partnership between the local MSMEs and big companies.

“A large part of shaping tomorrow’s business today is the collaboration between larger and local and small local companies,” Hill said.

In the meantime, Oral Heaven, president of the MBCCI, said the theme of this year’s trade expo, “encapsulates the spirit of innovation and progress that we aim to foster within our business community”.

Heaven expressed confidence that more than 100 exhibitors and approximately 5,000 attendees from diverse sectors, such as finance, retail, hospitality, technology, trade and MSMEs will support the trade expo.

“Our regional partners are expected to join us further enriching the corroborating spirit of this trade expo,” he said.

He added: “At Expo 24 we aim to facilitate connections between businesses of all sizes, and to provide a platform for them to showcase their offerings, and make sales on the floor, forge new partnerships, and explore avenues for growth. It is a testament to the power of collaboration and the potential for collective success when we come together with a shared vision as we will do at Expo 24”.