Now that the holidays have passed and the New Year is in its infancy, we are all fully focused on achieving our business goals for 2023. The articles we’ve chosen for this month’s issue give us much to look forward to in the year ahead:
Small Business Resilience — Despite the shocks and setbacks of the past few years, small businesses in Jamaica have proven remarkably resilient, in many cases pivoting to include automation, E-Commerce, and accelerator programs to remain viable. They also look to previously under-developed sectors, such as Agri-Business, Nearshoring, and Online Marketing.
Improved Financial Sector Oversight
In response to the massive financial fraud at SSL, the Bank of Jamaica will now assume the responsibilities of the Financial Services Commission (FSC) to transform the FSC into a “highly visible market conduct and consumer protection supervisor for all financial service providers, including Banks, non-bank, Cambios and Remittance Companies.”
Tourism Sector Rebound — Jamaica’s tourism sector continues to rebound strongly from pandemic-induced economic fallout, generating earnings of US$3.64B in 2022, with January’s figures, to date, showing a 463% increase over last year and 29% growth over 2019.
Finally, we round out this month’s issue with a very important feature article: Why Successful Companies Keep Investing in Ongoing Marketing, which outlines the importance of a continuous marketing presence, no matter the companies’ size or level of success.
As always, we at Millennial Media Management hope you find this month’s issue valuable and enlightening, and we wish you all the best in 2023!
Warm Regards, Paul Bauer EDITOR, THE MILLENNIAL MARKETER
Permanent Secretary in the Ministry of Industry, Investment and Commerce, Sancia BennettTempler, says Jamaica’s business community, including micro, small and medium-sized enterprises, responded well to the many global challenges caused by COVID-19 and the Russia-Ukraine war.
“This, coupled with the Government’s strong fiscal policies and financial support to vulnerable sectors, ensured that Jamaica now has a stable, thriving economy with a positive outlook,” Mrs. BennettTempler said.
She spoke at the 20th annual Shirley Playfair Lecture, hosted by the Fair Trading Commission (FTC), at the Terra Nova All-Suite Hotel in Kingston, on December 1.
The event, hosted in honour of the Commission’s first Chairperson, Shirley Playfair, explored disruptions in the global supply chain and their impact on consumers.
Mrs Bennett-Templer noted that this year’s theme, ‘Navigating the Impact of Supply Chain Disruptions: A Business Sector Perspective’, was particularly relevant, as “the Ministry is mandated to protect and empower consumers, whose regular supply of products on shelves and in markets across the country has been negatively impacted by the global supply chain disruptions.”
She indicated that several factors contributed to the ongoing global supply chain disruptions, most notably the onset of the COVID-19 pandemic and the Russia-Ukraine war.
Together, these have resulted in many economies worldwide, including Jamaica, facing disruptions in global shipment, trade and commerce, increased cost of raw materials and a reduction in the available capital investments.
She pointed out that in recent times, there have been some stabilisation and downward movements in factors, such as the cost of freight. Adding that “while the recent challenges have highlighted impairments that can arise with long supply chains, it has also created unprecedented opportunities for investments, along with the attendant economic growth prospects for Jamaica and other countries.”
“As companies look to mitigate the risk of long supply chains to business continuity, there is a burgeoning interest in nearshoring and shortened supply chains to establish resilience in business operations,” Mrs. Bennett-Templer continued.
She mentioned, too, that the Ministry is committed to being responsive and visionary in its response to the needs of the business community to advance the national agenda.
To this end, the agencies and departments of the Ministry continue to devise and implement targeted policies, projects and initiatives to support and nurture the business community. They also partner with international agencies, the private sector and other government entities to allow for cross-population of financial, human and other resources.
Mrs. Bennett-Templer is hopeful that the lecture will add to the existing body of knowledge on strategies that we can adopt to navigate and minimise the impact of global supply chain disruptions on consumers and the Jamaican economy.
The Shirley Playfair Lecture is hosted each year to highlight issues surrounding Competition Law and Policy and to pay tribute to the late Shirley Playfair, who played a significant role in building a Competitive Law framework for Jamaica.
The now-under-investigation alleged $3 billion fraud at Stocks and Securities Limited sparked the overhauling of the financial system's regulatory landscape. The SSL issue has shaken the investing public's confidence and put pressure on the government to address the opaqueness of Jamaica's financial institutions.
The US Federal Bureau of Investigation (FBI) will assist Jamaican investigators and auditors in tracking perpetrators and the money, including the more than US$12 million that international Sports celebrity Usain Bolt is said to have lost.
The so-called "twin peak model of financial sector supervision" will consolidate what Minister Clarke alluded to as now a 'fragmented' structure. It addresses the "duplication of effort, duplicate oversight, and sometimes coordination challenges."
"The natural institutional silos that emerge detract from the nimbleness needed to regulate financial groups comprehensively," Minister Clarke said.
Elements of the financial sector have complained repeatedly about varying guidelines from BOJ and their regulator, the FSC, particularly concerning foreign-currencydenominated holdings, an area in which BOJ's word is supreme as manager and regulator of the foreign exchange system.
Stocks and Securities did not fall into the category of financial conglomerates. Still, like the other 37 Securities dealerships licensed by the FSC, it was not required to make its accounts public, so investors had no way of tracking whether the company was in sound financial health.
Now all licensed Investment Companies will be required to disclose their financial accounts, something that Banking Institutions and Insurance Companies already do as regulated entities.
The FSC was created back in 2001 to tighten regulation of the non-banking financial sector. It merged the functions of the former Office of the Superintendent of Insurance and the Securities Exchange Commission into a more robust oversight body created in the aftermath of the mid-1990s banking and financial sector crash.
The former Securities Commission at one time was located on the BOJ building at Nethersole Place on the Kingston waterfront but never had a reporting relationship with the Central Bank. Wynter himself was the founding Executive Director of the FSC. The new FSC that will emerge within the next 18-24 months will "become a highly visible market conduct and consumer protection supervisor for all financial service providers, including Banks, non-bank, Cambios and Remittance Companies," Clarke said.
During the reform period, FSC and BOJ will continue to carry out their regulatory functions separately but through integrated management. At the same time, international consultants and technical advice will be sought on the legislative reforms required to give effect to the merger within the expected 18-24 month time span. The input of the financial sector will also be sought in determining the framework for the new regulatory system.
The Government’s end-to-end digitised Ticketing System officially went live on February 1, Minister of National Security, Hon. Dr. Horace Chang has advised.
In a statement during the January 10 sitting of the House of Representatives, Dr. Chang said that the system will “not only increase the efficiency of the Public Safety and Traffic Enforcement Branch (PSTEB) officers by ensuring that motorists who break the law receive with immediacy, the prescribed consequence, but importantly it will nullify speculations of corruption and avoidance.”
He declared that tickets would be issued using a handheld device, making the information immediately available to the relevant stakeholders. In addition to the printout, the motorist will receive an electronic version of the ticket via email.
The ticket can then be paid online via the Tax Administration Jamaica (TAJ) portal, and the process concluded “quickly, conveniently and non-contentiously,” Dr. Chang said. In addition, Dr. Chang noted that the Traffic Ticket Web lookup portal, already launched, will allow motorists to check the status of their tickets, print their records and use this to attend the courts.
He pointed out that the portal will also show the demerit points accumulated by a driver, allowing employers to “assist in good road behaviour” by keeping track of the conduct of their drivers.
Furthermore, the Minister outlined that under the New Road Traffic Act, “it will also be an offence to employ a driver whose licence has come up for suspension. So, the employers not only have the incentive to have better discipline around them but, in fact, they too can be fined.”
In the meantime, Dr. Chang has also implored motorists with outstanding tickets to make arrangements to have these paid by January 31, ahead of the new Road Traffic Act, which also takes effect on February 1.
He reiterated that the Ministry of Transport would expunge all demerit points accrued from February 1, 2018, to January 31, 2023.
“As of January 31, you will not be able to hide from being held accountable. Pay your tickets now,” Dr. Chang warned.
The Government has no intention of socializing the debt of failed financial institutions, says Prime Minister Andrew Holness.
He made the declaration while delivering the keynote address at the opening of the Jamaica Stock Exchange (JSE) Investment and Capital Markets Conference on Monday, Jan. 24, where he said that the full force of the law must be brought to bear in the case of alleged multibillion-dollar fraud at Stocks and Securities Limited (SSL). “The Government will not socialize the failure of our banks to be prudential and to protect their customers,” he stated.
“This would send a very bad signal that individuals or entities can be delinquent in their fiduciary obligations and expect [others] to cover their negligence. That will not happen,” the Prime Minister stressed.
He argued that if the full force of the law is not applied in matters of this nature, then “our free and competitive financial market, which is what distinguishes Jamaica from other financial markets in the region, will not work.”
“It works when the players and actors know that they must operate at the highest standards of integrity and probity; if not, they will face the consequences of the law. The Minister of Finance has announced that the penalty regime for various financial and white collar crimes will be reviewed, making it absolutely clear that those kinds of crimes will not be tolerated,” the Prime Minister added.
The SSL investigations are led by the Financial Investigations Division (FID) and the Fraud Squad. At the same time, the assistance of the United States (US) Federal Bureau of Investigations (FBI) has been requested.
The Prime Minister stressed that those responsible must be held to account. He said he has instructed government entities transacting business with SSL to disclose their connections or association with the securities firm “so that the public can make their determination.”
“We want to get to the truth of this matter… to uncover it, expose it, and bring those responsible to account and secure justice for the victims,” Mr. Holness said.
Jamaica’s tourism sector continues to rebound strongly from the COVID-19 pandemicinduced economic fallout, generating earnings of US$3.64B in 2022.
Tourism Minister, Hon. Edmund Bartlett made this disclosure during the January 10 sitting of the House of Representatives.
“We ended the year equalling the record-breaking earnings for Tourism of US$3.64 billion, and the 2022/23 fiscal year. I will report comprehensively when we make our 2023/24 budget presentation. We expect to show US$4.2B earnings in Tourism, which would be US$500M more than 2019, arguably the best year in our history,” Mr. Bartlett said.
He added that the 2022/23 winter season has, so far, “started with a bang,” with January’s figures, to date, showing a 463% increase over last year and 29% points growth over 2019.
Regarding the Tourism Pension Scheme, Mr. Bartlett said nearly 8,000 workers are now contributing to the plan, generating savings of $350M.
He indicated that the scheme would reach 10,000 members during winter.
“The potential for this pension programme is to have over 350,000 members, and that savings will bring billions of dollars, which will now become a pool of affordable funds for capital development and on-lending for various other investment projects,” Mr. Bartlett said.
“And we know in economics that one of the bases on which solid growth is predicated is when the domestic savings of a country are converted into investments,” he added. The pension scheme covers all Tourism workers aged 18-59, whether permanent, contract, or self-employed.
They include Hotel Workers and persons employed in related industries, such as Craft Vendors, Tour Operators, Red Cap Porters, Contract Carriage Operators, and workers at Attractions.
The benefits will be payable at the age of 65 years or older.
For 2023, strive to introduce more exercise into your life. We know this is easier said than done with the stresses and responsibilities of everyday life. We promise the benefits are worth it!
There are several ways to embrace a new fitness routine and a healthier lifestyle, whether the calendar says January 2023 or not.
According to Takese Foga, Director of Health, Promotions, and Education in the Ministry of Health & Wellness, people should explore different options and find something appropriate for them, interesting to them, and something they would want to do long term.
The big goal is to find a long-term solution, not just a resolution.
“Persons should incorporate physical activity and make healthy practices a part of their lifestyle. Start small and incorporate what you do into something you love at home and the workplace,” Foga said.
For those wanting to work out at home, numerous routines and products easily fit into the busiest schedules.
One way is to progress slowly back into a fitness regimen. That might start with a light, leisurely walk or a bike ride.
Fitness also helps your mental health, not just your physical health. We are all dealing with so many different areas of our lives that have entirely changed since COVID-19,” Foga said.
Online fitness communities or remote exercise classes will bring back that motivation while holding you accountable.
What is critical about any lifestyle choice we make, whether it is fitness, health, stress management, self-care or mental health; the key is to identify our true internal motivators.
Millennial Media Management and The Millennial Marketer supports Jamaica's effort to vaccinate our population from the COVID-19 virus.
It is the responsibility of all Jamaicans to play our part in ensuring that our nation recovers better and stronger!
Here are the facts to combat the myths surrounding the COVID-19. vaccines. #GetVaccinated #GetBackToLife
Jamaica’s impending Digital Switchover (DSO) will see significant advancements in the capacity of the country’s Public Broadcasting infrastructure.
DSO refers to the transition from analog television broadcasting to Digital Television Broadcasting.
It will involve a phased transition from outdated analog technology to the Advanced Television Systems Committee (ATSC) 3.0 called Next Generation (NextGen) TV.
ATSC 3.0 is an Internet Protocol (IP)-based television standard that provides an enhanced viewer experience. It is anticipated to facilitate new domestic and commercial services with better technical quality.
There will also be opportunities for Jamaicans to move from television sets to mobile, portable, and pocket equipment compatible with NextGen Network technologies.
Executive Director of the Broadcasting Commission, Cordell Green, noted the transition is in keeping with the Government’s mandate to create a digital society.
“The benefits of the switch are numerous, both from the point of view of the television viewer and the television broadcaster perspectives.
Where the viewers are concerned, they should expect more channels. It allows a broadcaster the option to provide as many as 15 video program streams within a single channel,” he explains.
Mr. Green says the switchover is a significant milestone in building the country’s digital infrastructure.
“We will get a modern media infrastructure structured for the internet environment, updated legislation, more opportunities, and channels for content distribution. This will support the creation of more content, better infrastructure to support mobilization and communication of important information in moments of health crises, natural disasters, and security crises,” he states.
“The beauty about this is that the information can be customized for a geographic area. So, you can have an event taking place in one community and another taking place elsewhere. This system is dynamic, so you are watching the television channel, and the information received might be immediately relevant to where you are,” Mr. Green explains.
The technology enables TV programming on phones and tablets, providing higher-quality video and audio, improved accessibility features, and enhanced interactivity capabilities.
Mr. Green notes that the technology has significant implications for the education sector, as it facilitates information sharing.
“There is also the capability for the same television broadcast signal to send data. So Educational Institutions could send material to a home television or even a smart device without using the internet. Not having data at the time does not deprive you of using content coming into the home. That portends a lot that we will be able to do from an Education point of view,” he points out.
In May 2020, Cabinet approved, among other things, the commencement of the DSO in 2022 with the ATSC 3.0 standard. For the transition period, broadcasters will simultaneously engage in analog and digital transmission simulcasts as they develop and test their facilities.
“You can’t shut off the old television system until we have enough new TV receivers people will use. We also can’t shut off until the consumers are ready, and of course, the broadcasters need to be ready,” Mr. Green states.
When the transition is completed, analog television transmission will cease at stations, and all free-to-air analog signals will be turned off and replaced by digital signals.
To receive the ATSC 3.0 channels, persons will have to purchase ATSC 3.0 televisions or continue to use existing televisions with a set-top box.
Viewers that receive television programming via cable or satellite service will continue to have access to free-to-air TV stations.
However, viewers that use over-the-air reception such as rooftop or rabbit-ear antennas will need an ATSC 3.0 compatible television or have the signal converted via a set-top box to enable their standard analog TV to receive the digital signal.
Mr. Green says Jamaica’s initial implementation time of 2023 for the switch has been altered due to adverse factors affecting global supply chain systems.
“That date is going to be revised. The recommendations were made pre-COVID. It had a very aggressive timeline that contemplated 2023. That is now not a reasonable deadline due to the impact of COVID-19 on the supply chain and the Ukraine-Russia war, weighing down on the ability to get ships for these advanced systems,” he explains.
Nevertheless, Mr. Green says Jamaica is far advanced in its preparations and will be among a handful of countries, including the United States of America and South Korea, to first make the transition to NextGen television technology. He, however, states that Jamaica will have the distinction of being the first country to leap analog directly to the ATSC 3.0 technology rather than making the gradual transition as other countries have done.
“We have ATSC 3.0 transmitters turned on now in Jamaica being tested by the television stations,” he reports.
Holding a positive outlook regarding the growth of various sectors in 2023, Small Businesses are banking on their resilience to overcome the growing list of challenges that continue to impact them.
From having had to redefine their business models, digitize operations, reduce staff, or deal with the headwinds of a harsh economic environment and its spillover effects, entrepreneurs and other members of the Small Business community locally are remaining bullish on opportunities, particularly some new ones on which they want to capitalize in 2023.
"Crisis is now the new normal, so we remain positive in our outlook. Over the last few years, we faced COVID, the war in Ukraine, threats of monkeypox, and so much more. We continue to be resilient in our response. From an on-the-ground experience, entrepreneurs are seemingly hopeful as we have learned and continue to learn the art of resilience, which makes us ready for success in an uncertain future," said the President of the Young Entrepreneurs Association (YEA) Cordell Williams-Graham in sharing an outlook with the Jamaica Observer recently.
However, local entrepreneurs are one of many in expressing optimism despite the concerns. In the US, data from a recent survey conducted by JPMorgan Chase & Co for its annual Business Leaders Outlook indicate that despite the heightened concerns for inflation among small businesses in that country, a vast majority said they were optimistic about their expected performance this year. As a result, more than half of those polled in a survey have signaled that they project to increase revenues and sales in 2023.
"Businesses are signaling that exercise agility and prepared are for several different scenarios, which are keys to operating effectively in today's economy," commented John Simmons, Head of Middle Market Banking and Specialized Industries at JPMorgan Chase.
Like in the US, Jamaican Small Businesses have become increasingly creative in navigating various shocks.
Pointing to the opportunities her members seek to take advantage of Williams-Graham, said automation and E-Commerce are at the top of the list. However, she adds that the use of co-working spaces and greater participation in various accelerator programmes are also crucial.
For members of the Small Business Association of Jamaica (SBAJ), their President Michael Leckie — in highlighting the areas being targeted by his over 4000-strong membership base this year — said they were more concentrated on opportunities in Agri-Business, Nearshoring, and Online Marketing.
In calling for a tripartite approach to fully equip the sector, he expressed his greatest hope of seeing better collaboration across the Ministries of Agriculture, Education, and the Ministry of Industry, Investment & Commerce, in which Small Businesses are based. Working together to prepare small businesses for the transition and get them ready to take advantage of emerging opportunities.
"Agriculture is going to be one of the major growth drivers for the economy this year, so there needs to be a pivot by our business members into this sector. This will allow them to develop new products and drive additional revenues for their companies. Also, when we look at what is happening with logistics, we know there is an increased need for nearshoring. This is a big market which we must now come together as a region to develop a serious trading block," he told the Business Observer.
Beckoning the Government to further increase its support to the sector, Leckie believes that more can be done to incentivize, regularise, and open up more access to funding for Micro, Small, and Medium-sized Enterprises (MSMEs) in their quest for growth this year.
"On the part of the sector, there has to be a readiness, but there also has to be a strong Government push. They have started, but it's still not enough. We think there ought to be a greater push this year — and it has to be coupled with mainly grant funding and other low-interest working capital support for small businesses," he said.
Admitting that there was an even larger informal sector operating locally, he urged operators to become formalized and to get themselves ready to benefit from some of the programs already available.
The SBAJ head updated previous statistics, revealing that about 40% of its members have had to close up shop since the COVID-19 pandemic. Recent data from the Companies Office of Jamaica (COJ) showed that over 8000 new companies were formed last year. This indicates that progress is being made. Efforts which he, like the YEA president, credits to the strength and perseverance of the sector.
"Jamaicans are naturally resilient, so as Small Businesses, we will not just sit back. We will use these opportunities to create new enterprises. Despite the challenges, we remain cautiously optimistic as we continue to fight for the growth of our members and sector " Leckie said.
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Seasoned Fortune 500 companies have a deep understanding and appreciation for marketing.
Coca-Cola, KFC, and Burger King all have global recognition, but they still spend millions of dollars yearly on marketing. With strategic spending on marketing, they reap fantastic rewards as they remain at the front of their respective markets.
On the other side of the spectrum, startups and micro-businesses view marketing as a matter of survival, not theory. With so little capital, it may be challenging to make a choice. But this should be seen as an investment.
I'll tell you why.
Inexperienced companies regard marketing as medicine to be taken when something is wrong. ("Not enough customers? Take some marketing and call me in the morning.”) This approach is flawed, and it is one of the reasons so many successful businesses wind up failing. They get used to feeling busy, then suddenly realize it's often too late to start what they should have been doing all along.
Marketing is food. It's the regular, sustained nourishment that gets your business where you want it—and keeps it there. Marketing needs to be consistent.
Peter Drucker, one of the leading experts on Management Theory, wrote:
"Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is broader than selling. It encompasses the entire business. From the point of view of its final result, from the customer's perspective. Concern and responsibility for marketing must therefore permeate all areas of business."
This perspective is what keeps Fortune 500 companies so intense about sustained, well-funded marketing—even when they're already successful. Inexperienced businesses wait until they're starving to start looking for nourishment.
Savvy companies eat regular, healthy meals throughout the day, keeping them solid and thriving year after year.
Here are four common-sense reasons why the most successful businesses in the world engage in vigorous, ongoing marketing efforts:
Ongoing marketing prevents "reputation rot": If you surveyed everyone who's heard about your business, you'd probably find that their understanding of who you are and what you do is out-of-date by at least a few years. Your business is constantly improving, but people's perceptions remain fixed. It takes years to shape and define your reputation, so you need to be doing it all the time. You can't wait until it's hopelessly out of sync. If you do, you'll never make it to the other side.
Ongoing marketing shapes your customer base: You must target different audiences as your business evolves. Sometimes your focus changes only slightly, and other times you have to start with a completely new customer base. Either way, you need to constantly evaluate your target and adjust your messaging, visuals, and strategy accordingly.
Ongoing marketing gives you many options: Having "just enough" business isn't enough. There should always be more demand for your products and services if you actively market the problems you fix.
Ongoing marketing secures your company's future: Security and stability are the most critical reasons for engaging in active, ongoing marketing. Marketing creates business. You may have lots going on right now, but will it still be there in six months? A year? Three years? Savvy business owners don't leave their future up to chance; they're planting seeds now that they can harvest next season.
If your company currently has lots of work, happy customers, and busy staff, then you've successfully achieved a key milestone in the life of a business: viability. This isn't the end of your journey but the beginning. Marketing your business should be your constant companion at every step you take.
Businesses disappear when business owners don't invest in them.
Scotiabank is improving its e-commerce solutions for micro to large businesses seeking to accept online payments.
The services are being marketed as Scotia eCom+ and include a Scotia-hosted payment page (HPP), Scotia Virtual Terminal, and Scotia Web Service API (application programming interface).
These three (3) solutions will increase access to Jamaican businesses of all sizes wishing to accept e-commerce payments.
Morris Nelson, Senior Vice-President, Corporate & Commercial Banking, shared, "Scotiabank is keenly focused on providing services that help businesses grow, operate efficiently, and manage risks. Scotia eCom+ offers these solutions in support of the expansion of their customer base by providing solutions that facilitate seamless processing of payments irrespective of where customers are." These gateway payment services are controlled by Scotiabank, allowing for faster deployment and a more cost-effective, end-to-end solution for the customer.
"The Scotia Virtual Terminal option, for instance, is easy to deploy, simple to use, and cost-effective, which makes it attractive for small businesses that previously could not afford the cost of deploying eCommerce payment options in their business," Nelson continued.
Gail Whylie, Senior Manager for Global Transaction Banking, said, "Scotia eCom+ is perfect for Small & Medium-sized Enterprises (SMEs) that wish to accept payments from anywhere in the world on any device safely and reliably. Many cannot afford the expensive and technical set-up costs, so Scotia eCom+ offers convenient scalability as your business grows."
The Scotia Virtual Terminal is a secure web-based portal that can be deployed from any internet-enabled device by the business to process a payment. Payments are facilitated via a secure payment link shared with customers by email, SMS, or social media.
"This makes it extremely convenient and compatible with evolving trends in the small retailer's space. Someone with a Small Business can now market their products online and utilize Scotia Virtual Terminal Service to collect payments by sending a secure link to clients to complete payment. This will open a new sales channel and income stream for their business," Whylie highlighted.
Scotiabank said its eCom+ Hosted Payment Page Services (HPP) is the next step in their E-Commerce payment solutions ladder and is best suited for those who already have a website and wish to offer online payment capabilities.
She went on to share that Scotiabank's payment gateway further allows for quick and easy integration with most of the major Shopping Cart Software often used by small businesses such as Mailchimp Stores and OpenCart. She emphasized that Scotia eCom+ Hosted Payment Page (HPP) is feature-rich and supports multi-currency transactions.
"The main benefit for our businesses customers using this option is that Scotiabank will manage all payment industry certification requirements, thereby reducing cost and time to deploy the service by the customer," Whylie further noted.
There is Scotia API for businesses with their own personalized online structures that need transaction security in their E-Commerce systems, which allows businesses full integration. This solution can be incorporated into a client's new or existing online platform for maximum integration, which gives local businesses simple yet complete control of business processes and payment pages.
The new systems also offer fraud protection for buyers and businesses, using methods such as two-factor authentication and the ability to conveniently access real-time reporting to manage sales transactions from any device at any time from any location.
"We have piloted the solutions with several customers to ensure the security and reliability of all three eCommerce solutions and are confident that these services will add value to businesses allowing them to capitalize on increased demand for electronic sales from consumers," Nelson assured.
Minister without Portfolio in the Office of the Prime Minister with Responsibility for Information, Hon. Robert Morgan has reiterated that the Broadcasting Commission’s restriction on illicit content is not about banning music but setting standards.
He said the entity is responsible for managing the country’s free-to-air radio, television, and information portals in a way that “greatly shapes the psychology and perspective of the Jamaican people.”
“This is the standard that the people of Jamaica have set; this is what we want as a society. This is how our society should be framed, how our children should be socialised, and how our radio and television should function,” Mr. Morgan said.
On Wednesday, October 19, he addressed the Broadcasting Commission’s Strategic and Operational Planning Retreat at Ocean Coral Spring Hotel.
Last year, the Broadcasting Commission announced a restriction on content transmitted through radio, television or cable services of any audio or video recording, live song or speech that promotes and glorifies illicit activities such as scamming, drug abuse, and gun violence.
Minister Morgan supported the move and noted that the Government, or State authority, has a responsibility to uphold policies that help to make Jamaica a better place.
The Broadcasting Commission’s Strategic and Operational Planning Retreat ran from October 18-20. Over the three days, the entity’s leadership team engaged in corporate governance training, strategic planning and budgeting, among other focus areas.
Chairman, Professor Lloyd Waller, said the Commission is reviewing its capacity and ability to facilitate positive change in Jamaica.
“We will equip ourselves with the tools, techniques and strategies needed to advance humanity and Jamaica in this particular instance. That is the only way that we, as an organisation, in a small developing country, can think about the future,” he said.
The Government is taking steps to modify the status of Security Guards providing services within the Public Sector, from Independent Contract Workers to standard employees.
Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke says this is intended to position them better to access the full benefits of entitlements under the law.
He pointed out that this will hold the Security Firms accountable. The firms will become liable for making statutory deductions on their behalf rather than the Guards doing so independently. The firms will also pay the Employer's contribution for each designated employee.
The undertaking would be consistent with a court ruling last year between the National Housing Trust (NHT) and a Security Firm engaged in providing services to the entity. The tribunal determined that Security Guards are employees and that the Firm to which they are attached are employers.
Dr. Clarke outlined the engagements being undertaken in a policy statement delivered during a Security Industry stakeholder meeting at the Ministry of Foreign Affairs and Foreign Trade in downtown Kingston on January 19.
He indicated that a Special Task Force, chaired by former Bank of Jamaica (BOJ) Deputy Governor Livingstone Morrison, and comprising public sector representatives, has been appointed to engage Security Firms contracted by the Government to provide services at MDAs island wide in discussions over 100 days, ending April 30.
Dr. Clarke said the engagements are to amend the approximately 500 contracts the entities have with the Government, ensuring that Security Guards providing services at MDAs "are treated as employees."
"A breach of these terms concerning any Security Guard working at any MDA will be grounds for termination of that contract," the Minister emphasized.
The Minister said the contractual amendments would also reflect an adjustment in the rates for the cost of services provided.
"For these employer obligations to be honored, going forward, and for Security Guards who are employees of these Firms to benefit, the simple fact is that customers of Security Guard Firms will have to pay more for Security Guard Services, and there is no way around that," he indicated, pointing out that the programmed amendments will be effective April 1.
Dr. Clarke further advised that the Ministry, which has portfolio responsibility for Public Procurement, will issue instructions to all MDAs indicating that future bid documents used to procure Security Services must stipulate that Guards be treated as employees.
"Bids that fall short of that requirement will be thrown out, even if those are at the lowest price. Furthermore, the contracts will stipulate that non-observance of this requirement of Security Guards to be treated as employees will be grounds for termination of those new contracts in response to bid documents that come in the future," he said.
Dr. Clarke expressed the hope that Private Sector entities engaging in Security Services will follow suit in their contractual arrangements with firms providing these.
The National Consumer Protection and Welfare Policy, developed by the Consumer Affairs Commission (CAC), is nearing completion.
Chief Executive Officer (CEO) of the CAC, Dolsie Allen, told JIS News that the Policy, which is expected to be implemented this year, is “more than 85% complete.”
She announced that it would be used to govern the operations of the CAC and all other government agencies with some consumer protection component within their mandate.
“The whole aim is to empower our consumers. Let them know that the Government has an interest in the consumers. We are the largest economic group. So any decision taken, whether by Government or private sector, really does affect the consumer,” Mrs. Allen said.
The CEO pointed out that the Policy will streamline how complaints are handled.
“We’ll be working together to see how we can be more targeted in our approach as we talk about consumer protection so that persons in the public domain are not so confused as to where to go with a particular challenge,” Mrs. Allen informed.
She advised that the CAC will work with the Fair Trading Commission, Bureau of Standards Jamaica, National Compliance and Regulatory Authority, and Trade Board to determine how best consumers can be protected.
The CEO further indicated that when completed, consumer education would be a primary element of the Policy.
“We will combine the budgets to have joint activities to speak with one voice to the public. They will know exactly where to go if there is a challenge,” Mrs. Allen said.
The CAC is an agency of the Ministry of Industry, Investment and Commerce and is responsible for protecting consumers. It executes its mandate through consumer education, the handling of complaints, and by conducting market surveillance.
Micro, small and medium-sized enterprise (MSME) operators will soon be able to use their Intellectual Property (IP) as collateral to access loans from financial institutions. This was disclosed by the Executive Director of the Jamaica Intellectual Property Office (JIPO), Lilyclaire Bellamy, during an interview with JIS News on Thursday, January 26.
Ms. Bellamy said the Security Interests in Personal Property Act, 2013 allows businesses to tap into a more comprehensive range of collateral options besides land to access secured loans. These include inventory, accounts receivables, and intellectual property and are aimed at offsetting limitation challenges MSMEs experience when seeking to access financing for their operations.
Consequently, JIPO, which falls under the Ministry of Industry, Investment and Commerce, partnered with key stakeholders to embark on a pilot project in March 2021 aimed at training evaluators to assess the value of IP for small businesses. The project is titled 'Strengthening the Intellectual Property (IP) Ecosystem to Increase Innovation, Competitiveness and Growth of Micro, Small and Medium-Sized Enterprises (MSMEs) in Jamaica'.
The initiative has an overarching goal of supporting the Act's implementation by addressing gaps in Jamaica's intellectual property ecosystem, to create the conditions for IP commercialisation and collateralisation.
Strengthening the IP ecosystem will allow MSMEs to capitalise on their intellectual property for economic advancement and promote innovation, competitiveness and growth in Jamaica.
Ms. Bellamy said the pilot is expected to be completed by March 2023, with the attendant arrangement anticipated to become standard once launched.
"We are training evaluators who will look at your designs, trademarks or patents and ascribe a value to them. Based on that value, you can go to a commercial bank and say, 'this is the value of my IP. Can you give me a loan based on my intellectual property?'" she explained.
Among the critical project stakeholders are the Inter-American Development Bank, the Caribbean Development Bank, and the Compete Caribbean Partnership Facility, which will provide funding and support for the initiative.
Ms. Bellamy indicated, "we're planning to have further discussions with the International Development Bank and the Caribbean Development Bank about how we can continue the project and see if we can get further funding to train more evaluators."
Persons interested in gaining access to the approved list of trained evaluators may contact the JIPO at (876) 946-1300 or visit their website at https://www.jipo.gov.jm/.
The Ministry of Industry, Investment and Commerce's strategic objectives for 2023 will focus on increasing exports, local direct investments, and training unattached youth.
Portfolio Minister, Senator the Hon. Aubyn Hill outlined these details during the Ministry's Rebranding and Quality Recognition Ceremony on Wednesday, January 18, at the AC Hotel by Marriott in Kingston.
Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, and executives of the Industry Ministry's departments and agencies, were among the guests attending.
Senator Hill said the Ministry would be looking to meet the targetted objectives under its new unofficial brand, 'Jamaica's Business Ministry', by collaborating with businesses, engaging trade missions, implementing legislative frameworks, and working closely with its relevant agencies and departments.
Senator Hill emphasised the importance of increasing exports to boost Jamaica's earnings. "If we only keep selling to Jamaicans, we will never become a wealthy country. We cannot remain poor. We must export to the world!" he said.
Consequently, Senator Hill advised that the Ministry and its agencies will advocate for more local direct investments as financial institutions continue to provide the private sector with more opportunities for capital access. "The banks have a lot of money to lend because the Government is not borrowing; we stepped out of the market. So, the private sector can have all the money you want," he declared.
Senator Hill advised that businesses are the "largest providers of money that the Government spends," which requires the Ministry to take a "laser-sharp focus" on helping, encouraging and facilitating these entities to excel and be profitable.
Meanwhile, the Minister said the training and certifying of approximately 400 unattached youth will be pursued through a programme with the HEART/NSTA Trust. "We need to take the youth in. HEART/NSTA is working out a programme that will start shortly. We must train because the businesses need to employ people," he argued. The Minister encouraged the business community to take greater responsibility for providing training opportunities for youth.
"I found that many businesses overseas, especially in developed economies and some very astute emerging market economies, are training their people well. If we don't, we're going to remain poor. Those of us who are privileged to lead must help them get to a better place," Senator Hill concluded.
PROGRESSIVE FOODS: FAIRVIEW, WHITTER VILLAGE, OCHO RIOS & SOVEREIGN VILLAGE
THE BUTCHER BLOCK GOURMET STORE: UPPER MANOR PARK PLAZA
SHOPPERS FAIR: SUPER SHOPPERS FAIR - BOULEVARD, WESTGATE
FONTANA PHARMACY: BARBICAN SQUARE, WATERLOO SQUARE
S FOODS JAMAICA SUPERMARKET: WORTHINGTON AVE., KINGSTON
GENERAL FOODS: OCHO RIOS, LIGUANEA PLAZA
LFA COUNTRY STORE SUPERMARKET: RICHMOND, ST. ANN
MANOR PARK PHARMACY: CONSTANT SPRING RD., KINGSTON
BOOT GAS STATION: BOOT GREENWICH PARK, DRAX HALL
SOVEREIGN SUPERMARKET: HOPE ROAD, KINGSTON
BROOKLYN SUPERMARKET: HALFWAY TREE, KINGSTON
SUPER VALU FRESH FOODS: CONSTANT SPRING RD., KINGSTON
LOSHUSAN SUPERMARKET, KINGS HOUSE RD, KINGSTON
JOHN R. WONG: TOBAGO AVE, NEW KINGSTON
LEE’S FOOD FAIR: RED HILLS RD., KINGSTON
HI-LO FOOD STORES, BARBICAN RD.
FAMILY PRIDE: HAVENDALE
