The Micro Market Steering Committee, led by the Jamaica Stock Exchange (JSE), last month convened its first official meeting, marking a significant step in the development of the country’s newest market.

The specially appointed body has been tasked with shaping the framework for what is expected to be a transformative platform for micro and small businesses seeking access to capital.

Approved by the Government earlier this year, the micro market aims to facilitate equity financing for micro, small, and medium-sized enterprises (MSMEs), with its first listing timed for April 2026. Companies listing on this market will be able to raise between $10 million and $49.9 million, provided they are able to adhere to the corporate governance standards required for entities trading publicly on the JSE.

During a meeting on June 12, 2025, steering committee members—including JSE representatives, government officials, finance and small business community members, and legal personnel—commenced talks, which the then managing director of the JSE, Marlene Street Forrest, described as long overdue.

“This market was long in coming; however, it is very timely for MSMEs to have access to capital to grow their businesses to the next level. The micro market’s team that is in place is an excellent one, comprising both public and private sector organisations. This will allow for diverse points of view to be drawn from different expertise for the proper building-up of this market. It is clear that Jamaica is in for very interesting times and growth as a nation,” Street Forrest said.

The announcement to establish the micro market was made by Minister of Finance Fayval Williams during her maiden budget presentation earlier this year. As Jamaica’s first female finance minister, her announcement was met with broad support from the business community, which hailed the move as a pivotal step towards unlocking much-needed capital for smaller enterprises.

Data show that MSMEs are responsible for about 90 per cent of the country’s employment and 80 per cent of income tax. Yet, their growth has historically been stifled by limited access to affordable financing. The build-out and planned roll-out of what will become the smallest market on the JSE aims to change this, giving micro and small entities the opportunity to scale their operations, access fresh capital, and boost economic growth.

At the recently held meeting, the committee projected that the micro market could easily welcome up to 25 listings within its first two years of operation.

The Minister of Industry, Investment and Commerce Senator Aubyn Hill, commenting on the latest move in the Government’s efforts to establish a micro market, lauded the first meeting of the steering committee and described it as a powerful step forward.

“With this micro market, we are creating a real, structured opportunity for small Jamaican businesses to raise equity, expand faster, meet global standards, and compete at a higher level. This is how we drive exports, create jobs, grow our gross domestic product (GDP) per capita, and build the Jamaica we all want to see. I commend the JSE and all partners involved. We look forward to the official launch in 2026 and to many successful listings thereafter,” he stated.

Attendees for the first meeting held earlier last month included: Marlene Street Forrest, managing director; Andre Gooden, business development manager; and Nevill Ellis, manager of marketing & communications at the JSE; Michelle Chong, CEO of Honey Bun Limited; Sancia Bennett Templer, permanent secretary in the Ministry of Industry, Investment and Commerce, representing Minister Aubyn Hill; Herbert Hall, CEO at CUMAX Wealth Management; Marc Ramsay, principal officer and chairman of AspireSec Ltd; Dennise Williams, vice-president of the Small Business Association of Jamaica; Laurie Ann Jackson, attorney-at-law representing Companies Office of Jamaica Registrar and CEO Shellie Leon; Curtis Martin, managing director for JN Financial Group; Dr David Lowe, managing director of the Development Bank of Jamaica (DBJ); and Harold Davis, acting CEO of the Jamaica Business Development Corporation (JBDC).

Also in attendance from the JSE were Patrice Smith-Lindo, project manager, and Nicole Nixon-Ford, administrative assistant in the Business Development Unit, who served as recording secretary.