YEA calls for greater collaboration between Government and business associations

• April 01 2020
• http://www.jamaicaobserver.com/business-observer/yea-calls-for-greater-collaboration-between-government-and-business-associations_191066

President of the Young Entrepreneurs Association (YEA) Cordell Williams-Graham has underscored the need for greater collaboration between the Government and business associations, to create strategies to address the core problems facing the micro-, small- and medium-sized enterprises (MSME) sector during the novel coronavirus disease (COVID-19) pandemic.

In its efforts to combat the spread of the disease, the Government has enforced an unprecedented state of quarantine measures for the citizens of Jamaica. As a result, many small business operators have taken a hit by a downturn in activities, to which the Government has outlined a $25-billion fiscal stimulus package to cushion the impact of the virus on businesses and workers.

In an interview with the Jamaica Observer, Williams-Graham indicated that the Government should also consider providing a guaranteed loan or grant allocation to the associations who support MSMEs.

“We want to commend the Government on its efforts. However, the stimulus package is not adequate to meet the needs of the MSMEs at this time. It is a good gesture which people will accept. However, much more needs to be done and this is an opportunity for the Government to really demonstrate how serious it is about enabling MSMEs, who are the real drivers of growth,” she told the Business Observer.

“This is a call to action for the Government to consider putting a package together to support associations that support the glue of the economy. [It] has put forth the stimulus package but [business associations] are the ones on the ground and are directly connected to these entities,” she continued.

According to her, this would assist business associations with expanding the capacity to serve MSMEs, which includes offering emergency assistance to members in the form of grants and low-interest loans and also funding various interventions which may be required during the period, as many of the concerns centre on the members' ability to meet financial commitments.

Donovan Wignall, president of the MSME Alliance also endorsed the call made by YEA, adding that by the Government working closely with the agencies and associations within the sector, unscrupulous people will not be able to take advantage of these initiatives and its intended purposes.