YEA calls for expansion in technical assistance to strengthen MSME recovery and economic resilience
KINGSTON, Jamaica — President of the Young Entrepreneurs Association of Jamaica (YEA), Cordell Williams, is calling for a strategic scale-up and acceleration of technical assistance support for micro, small, and medium-sized enterprises (MSMEs), positioning it as the critical “icing on the cake” of the Government’s broader recovery and growth strategy.
In a recent statement, Williams said as businesses continue to recover from Hurricane Melissa, while navigating rising costs driven by the global oil crisis and increasing climate-related disruptions, Jamaica has laid a strong foundation—but must now go further to ensure MSMEs are fully equipped to benefit.
“The Government has been building the foundation through financing, recovery support, and opportunity creation [but] technical assistance is the layer that ensures businesses can access, utilise, and fully benefit from what has been put in place,” said Williams.
YEA acknowledged the continued efforts of the Government in supporting MSME recovery and expansion, including post-disaster recovery financing and grant support, expanded access to affordable loans through institutions such as the Development Bank of Jamaica and EXIM Bank, among others.
“These and other initiatives are impactful and necessary,” Williams noted. “They demonstrate a clear commitment to supporting MSMEs through recovery and into growth.”
However, Williams pointed out that while opportunities are being created, including access to financing, procurement, and export markets, many MSMEs remain unable to fully participate.
“In many cases, we are inviting businesses to a table of opportunity, but too many are unable to eat,” she said. “This is not a reflection of willingness—it is a reflection of gaps in readiness.”
She noted that MSMEs continue to face real barriers, including the cost of preparing business plans and financial documentation and the expense of preparing financial statements.
Williams underscored that technical assistance should be viewed not only as a strategic enabler of Government policy, but also as both a risk management and change management strategy in the current environment.
“Technical assistance has proven to be more than a support mechanism; it is a strategic enabler,” she said.
“In the past, it has strengthened MSME readiness for access to financing and loans, boosted formalisation by encouraging businesses to register so they could participate, and contributed to the growth of the local business services sector,” she added.
Williams emphasised that in today’s context, citing global shocks, its role must expand even further.
“In many cases, MSMEs simply do not have the internal capacity or time to take this on themselves,” she explained. “Technical assistance enables them to access external expertise and outsource critical functions, allowing them to meet requirements and move forward.”
Williams emphasised that, building on lessons since COVID-19, MSMEs must now be intentionally positioned for resilience.
“As part of national resilience and sustainability, businesses must be equipped to crisis-proof their operations by re-evaluating business models, diversifying revenue streams and markets, digitising and optimising processes, and strengthening financial management,” she said.
