OF OF BUSINESS BUSINESS
FORYOUR FORYOUR
UNEMPLOYMENT FALLS TO NEW RECORD LOW 4.5%
STRONGESTSUMMER INTOURISMHISTORY
ECONOMYGREWBY ESTIMATED1.5% DURINGJUNE QUARTER!
FOOD PROCESSING BUSINESSES MUST ENSURE THAT LABELS MEET REGULATORY STANDARDS
I wanted to take a moment to discuss some exciting developments in the world of technology and its impact on various industries. Specifically, I'd like to highlight the usefulness of artificial intelligence (AI) in helping small businesses thrive and the significant benefits it brings to the film industry.
AI has proven to be a game-changer for small businesses, providing them with valuable tools and insights to streamline operations, improve customer experiences, and make data-driven decisions. Whether it's optimizing inventory management, automating repetitive tasks, or personalizing marketing campaigns, AI has the potential to revolutionize the way small businesses operate. In this edition, we will delve deeper into some inspiring success stories and explore the endless possibilities AI offers to entrepreneurs and startups.
Furthermore, the film industry has also embraced AI in various aspects of production, from scriptwriting and pre-production to post-production and distribution. With AI-powered algorithms analyzing audience preferences, filmmakers are better equipped to create captivating stories that resonate with viewers. Additionally, AI-driven visual effects and editing tools have opened up new avenues for creativity and enhanced the overall cinematic experience. We will explore these exciting advancements in the film industry and how they are shaping the future of storytelling.
On a different note, I cannot help but mention how hot this summer has been in Jamaica. With scorching temperatures and clear blue skies, it has been a season to remember. Despite the heat, Jamaicans have remained resilient and vibrant, showcasing their unwavering spirit and zest for life. In addition to the weather, Jamaica continues to make strides in its economic growth. With a remarkable decrease in unemployment rates and steady progress in various sectors, the country's economy has shown promising signs. In this edition, we will dive into the latest developments and initiatives driving Jamaica's economic growth, particularly focusing on the impressive performance in the April - June 2023 quarter.
I hope you enjoy reading this month’s edition and find inspiration in the news and insights we have curated for you. As always, we value your feedback and suggestions. Feel free to reach out to us with your thoughts and ideas.
Thank you for your continued support.
Warm Regards, Paul Bauer EDITOR, THE MILLENNIAL MARKETER
The Ministry of Industry, Investment, and Commerce seeks to remove barriers to get small businesses to increase exports.
Portfolio Minister, Senator the Hon. Aubyn Hill, said the Ministry has several programs designed to assist small business operators in exporting their goods and services.
Senator Hill spoke on the Nationwide News Network (NNN) radio segment ‘Ask the Minister’ on August 15.
“Some of those barriers are, frankly, financial barriers, so the Ministry developed the Productive Inputs Relief (PIR),” the Minister pointed out. The PIR scheme facilitates duty-free importation of specific items intended for productive use. Through the PIR system, the Government has targeted specific sectors, including the Agriculture, Manufacturing, Tourism, Healthcare, and the Creative industries. They are being leveraged to promote and stimulate economic growth.
“We are working to take away all those hurdles if they exist so that we can get businesses to the point of export,” he informed.
The PIR is part of the Government’s Fiscal Incentive Regime and was introduced in January 2014 to simplify and streamline the process of granting government fiscal incentives to companies and individuals across growth sectors.
Local filmmakers and creatives are being encouraged to capitalize on the opportunities that exist from Artificial Intelligence (AI) while educating themselves about the associated threats.
Speaking with JIS News, the newly appointed Film Commissioner at the Jamaica Promotions Corporation (JAMPRO), Jackie Jacqueline Jackson, said that the industry must contend with AI.
She pointed out that to navigate these new times, Creatives must ensure that they are properly informed about AI as the technology develops. “AI is coming, and whether or not we want to accept it, it’s here. And so, there are the pros and the cons,” she noted.
“We just have to ensure that we are properly trained, that we’re doing our research because education is important. We have to ensure that we are looking at our policy development, that we become unionized so that we can have a space where we can speak up for each other,” she pointed out.
“That is why likeness, image, and trademarks are extremely important. You have to understand that you’re getting into a world of intellectual property,” she added.
The Manchester native, who describes herself as “Jamaican to the bone,” pointed out that among the pros of AI is the fact that it can be used to assist Creatives in accessing and compiling information that can be used as a launch pad for storytelling and the shaping of narratives.
In addition, Ms. Jackson said there is also an opportunity to assess how Caribbean and Jamaican stories are told “because AI still won’t know half of the things that we already do; our stories and just the years, there are certain things that AI just can’t do. Not yet.”
“So, that’s how we take advantage of those things; it’s looking at where the gaps are and then creating accordingly. We have the time and space now to talk about who we are and tell our stories,” she pointed out.
Her advice to Creatives is to be mindful of their brand, image, and likeness and “ensure that you’re looking at every single fine print that you’ve gotten as a contract to ensure that you’re not getting the bad end of a stick.”
Pointing out that the conversation surrounding AI is a continuous one since the technology is still developing, Ms. Jackson noted that “at the end of the day, AI can never be as authentic as human, so it’s always going to be a knockoff to who we are!”
She added: “Although we should be worried, I think it should be less of a worry and also to look at how we will attack the challenge and turn it into an opportunity.”
Jamaica’s unemployment rate fell to a new record low 4.5% in April 2023, according to the Statistical Institute of Jamaica (STATIN) Labour Force Survey for the period.
Director General Carol Coy indicated that this was 1.5 % points lower than the corresponding timeline in 2022.
Speaking during STATIN’s quarterly digital media briefing on Tuesday, August 15, Ms. Coy informed that the number of unemployed persons in April this year fell by 19,700, or 24.3%, to 61,300, compared to the corresponding period in 2022.
She noted that the number of unemployed males fell by 8,900, or 26.3%, to 24,900, while the corresponding figure for females dropped from 47,200 last year to 36,400 in April.
The number of unemployed youth, aged 14 to 24, was 24,600, a decrease of 6,800 or 21.7%. Meanwhile, the number of employed persons increased by 43,300 to 1,312,600. “Females accounted for over two-thirds of this increase. Employed females grew by 5.1% or 29,700, while employed males increased by 2% or 13,600,” Ms. Coy said.
A larger number of females were employed mainly in the occupation group ‘Service Workers and Shop and Market Sales Workers’ and within the industry group ‘Real Estate and Other Business Services.’ This was also the largest increase in the Employed Labour Force for any occupation group.
STATIN reports that there were 311,600 persons employed in this cohort in April 2023, an increase of 27,700 or 9.8%, compared to the corresponding period last year. Male employment within this occupation group increased by 11,000 or 10.7%, while the female numbers rose by 16,700 or 9.2% points.
In April 2023, there were 141,600 persons employed in the industry group ‘Real Estate and Other Business Services.’
Compared to April 2022, the largest increase in the number of persons employed occurred in this industry (15,300 or 12.1%). Females accounted for 71.2% (10,900) of the increase in this industry.
‘Wholesale and Retail Trade: Repair of Motor Vehicles and Motorcycles’ employed 249,800 persons and had the second largest increase of 13,100 or 5.5%.
STATIN also reported that there was increased employment in all age groups.
Tech experts have noticed a worrying trend — a rise in tech jobs but a shortage of skilled tech graduates.
"We have people with tech skills; we just don't have enough, and we're not training them," asserted Trevor Forrest, Chief Executive Officer of 876 Technology Solutions, while speaking with the Jamaica Observer.
Jamaican tech companies, as well as global firms with a presence on the island, are actively seeking professionals in specific tech-related areas.
"For 2022 and 2021, the skills that were most in demand were data scientists, cybersecurity experts, artificial intelligence experts, machine learning experts, and cloud computing experts," revealed Andre Palmer, Director of Research & Engagement at Symptai Consulting Limited.
These jobs, however, are facing a deficit despite a large number of graduates in computer and technology related fields. As a Tech Recruiter, Palmer revealed that of the top three universities — the University of Technology Jamaica (UTech), The University of the West Indies (The UWI), and Northern Caribbean University (NCU) — there are about 270 graduates in computer and technology-related fields every year. The UWI averaged 84 graduates per year in the technology or information technology (IT) discipline. Under HEART Trust, UTech produced between 100 and 150 graduates, and it's anticipated their numbers will increase exponentially over the next three to five years.
"The question is now whether or not the graduates that are coming out of the universities, the skills that they are coming out of university with are aligned with the roles that exist in the marketplace currently, and the answer is no," said Palmer.
He explained to Sunday Finance that while universities are producing a lot of talent in the IT space, it tends to be in the traditional areas of IT, such as Network Security, General IT Management, Software Development, and Basic Coding. The demand in Development Security Operations, which looks at integrating IT Security as part of the development lifecycle from start to finish, is not being met, and other emerging tech jobs, such as cloud software engineers and data science and analytics, who manage large organisations with volumes of data, is also lacking.
"We now see that UWI has a really good Data Science Programme at the Master's level, but at the Undergraduate level, it really just hits the surface!" he said.
The Tech experts are now calling for the curriculum to be revamped to include a practical component for all Undergraduate degrees, and to create more opportunities to work with external partners to provide practical experience in the core curriculum. This will ensure graduates leave with a broader understanding of what a real-life work environment entails.
The economy is estimated to have grown by 1.5% during the April to June 2023 quarter, compared with last year's corresponding period.
Director General Planning Institute of Jamaica (PIOJ), Dr. Wayne Henry, disclosed this during the agency’s digital press conference on Thursday, August 17.
Dr. Henry said the output for the review quarter primarily reflected increased capacity utilization in the Mining & Quarrying industry, the continuation of the growth momentum in Tourism-related industries, increased demand spurred by higher employment levels, and increased business and consumer confidence relative to the corresponding quarter of 2022.
“Further growth was stymied by the impact of drought conditions on Agriculture and water production, as well as relatively aged equipment in some industries, which resulted in unplanned downtimes,” he stated.
Regarding actual sector developments, the goods-producing industry grew by an estimated 1%, with improved performance for Mining & Quarrying industries.
This sufficiently outweighed contractions recorded for the Manufacturing, Agriculture, and Construction industries.
The Electricity and Water Supply industry recorded growth of 6.2% in real valueadded, reflecting an expansion in electricity consumption.
“This increase was sufficient to mitigate the contraction recorded for water consumption,” Dr. Henry said.
Electricity consumption increased by 7.9%, reflecting higher sales for five of six categories: residential, up 4.3%; small businesses using less than 25kilovolt ampere (kVa), up 6.4%; large companies using more than 25 kVa but less than 500 kVa, up 4.6%; businesses employing more than 500kVa, up 6.6%; and those using the most significant power, single locations with a minimum peak demand of 2,000 kVa, up 35.2%.
“These increases outweighed an estimated decline for street lighting and traffic signals, down 4.6%,” Dr. Henry said.
He explained that 13 of the 14 parishes recorded higher sales, led by a 56.7% increase in Clarendon, reflecting the resumption of operations at the JAMALCO plant.
Dr. Henry further noted that electricity sales in Kingston & St. Andrew grew by 4% and continued to account for the largest share at 34.2%.
Increases were also recorded for Trelawny (up 3.6%), St. Ann (up 6.9%), Westmoreland (up 9.6%), and St. James (up 4.8%), which benefited from higher tourist arrivals.
Additionally, the Transport, Storage, and Communication industry grew by an estimated 5.2% due to transport, storage, and communication components increases.
“Improved performance was recorded for the air transport subcomponent, largely reflecting a 39.8% increase in passenger movements due to departures, up 41.3%, and arrivals, up 39.1%,” Dr. Henry said, adding that air cargo movements also increased 104.3%.
Meanwhile, the Agriculture industry contracted by 7.1%.the
The Director General explained that this output primarily reflected the adverse impact of drought conditions, which resulted in a 7.7% decline in the area of crops reaped and a reduction in crop yield for most crop groups.
“The industry's performance was due to an 11.8% decline in the output of other crops. Lower production was recorded in seven of the nine crop groups, including potatoesdown 28%, yam - down 15%, vegetablesdown 14.6%, cereal - down 13.2%, and legumes - down 8.7%,” Dr. Henry stated.
I“Additionally, traditional export crops declined by 0.8%, reflecting lower sugar cane production - down 22.6%, bananadown 0.2%, and cocoa - down 56.4%. These decreases outweighed an estimated 16.5% increase in coffee production,” he added.
Animal farming was estimated to have grown by 1.8%, attributed to increased broiler meat and egg production. Real value-added for the Mining & Quarrying industry increased by 163.1% due to an expansion in alumina production, which outweighed a decrease in crude bauxite production.
The Director General informed that total bauxite production increased by 69%, reflecting the combined effect of alumina production, up 271.8%, due to the reopening of the Jamalco refinery.
He noted that the alumina capacity utilization rate was 36.3%, up 26.6% points, compared with the corresponding quarter of 2022, and crude bauxite production was down 6.8%. The bauxite capacity utilization rate decreased by 3.4 percentage points to 47.1%.
i n v e s t i n g t i m e a n d m o n e y i n v e s t i n g t i m e a n d m o n e y
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h e a l t h y , y o u t h f u l a n d
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Regarding the Manufacturing industry, this was estimated to have contracted by 0.6%. For the ‘Other Manufacturing Sub-Industry,’ higher output was recorded within the chemicals and chemical products component with fertilizer, up 31.1%; paint, up 57.9%; and aluminum sulphate, up 9.4%.
Non-metallic minerals are also estimated to have increased, supported by cement production, up 2.6%.
“In contrast, the petroleum products component was estimated to have contracted due to lower production of heavy fuel oil, down 14%; automotive diesel oil, down 10.2%; and gasolene, down 4.6%,” Dr. Henry said.
He explained that the lower output of petroleum products resulted from reduced operating days at the Petrojam Refinery due to its closure for 33 days to facilitate maintenance activities.
This compared with the closure of 31 days in the corresponding quarter of 2022. Real value added for the construction industry decreased by 3.3%, mainly reflecting a downturn in activities in the ‘Other Construction and Building Construction’ components.
Dr. Henry said the decline in the ‘Other Construction’ component was due to reduced capital expenditure on civil engineering activities reflecting National Works Agency, down 52.5% to $2.4 billion, reflecting lower spending on the Southern Coastal Highway Improvement Project (SCHIP), and Port Authority of Jamaica, which disbursed $137.3 million, down 89.2%, due to reduced expenditure on infrastructural developments.
Jamaican Micro, Small, and Medium-sized Enterprises (MSMEs) are being encouraged to tap into the Latin American (LATAM) market as they seek to expand their businesses.
Delivering the keynote address at the Keys to LATAM Conference held at the Spanish Court Hotel in New Kingston on Thursday, September 7, 2023, Minister of Industry, Investment, and Commerce Aubyn Hill said economic collaboration between Jamaica and Latin America had been limited.
“It is something that we have not really focused on, and I need us to get a sharper, clearer focus on doing business with Latin America. With a focus on increasing exports from Jamaica to our Latin American counterparts, including the Dominican Republic, Mexico, Colombia, Chile, Costa Rica, and Panama, a concerted effort must be made to build strong trade relationships and strengthen economic ties,” he said.
Senator Hill explained that the ministry has offered solid financial support to help businesses produce and export more of Jamaica’s goods and services. He pointed out that 85 businesses are engaged under the Jamaica Promotions Corporation (JAMPRO) Export Max Programme, which is geared towards developing a cluster of export-ready companies by enabling them to be competitively positioned to take advantage of international market opportunities and increase export earnings.
“That’s the only way we will become a wealthy country. As we look at our low per-capita GDP (gross domestic product), we have to increase that. The only real way to do that is to export a lot more, and we have to expand our population by negotiating new markets… Go to LATAM and excel,” Senator Hill urged.
For his part, Minister of Tourism Edmund Bartlett noted that the conference is poised to provide Jamaican industry professionals with insights into business opportunities in the lucrative Latin American market.
“Our shared history, cultural ties, and geographical proximity provide a solid foundation for collaboration. Latin America is a region of immense economic potential and diversity. With a population of over 650 million people and a combined GDP of over US$5 trillion, it offers a wide range of opportunities for businesses seeking to expand their reach,” said Bartlett.
The conference was conceptualized by the Chief Executive Officer of Adtelligent, Craig Powe.
His vision is for Jamaicans to unlock the potential of the Latin American market, as there are four CARICOM trade agreements facilitating LATAM exports that are not being sufficiently utilized.
Citing the Dominican Republic, Powe noted that the country’s export to Jamaica was valued at US$115.66 million, while Jamaica exported US$2.7 million in goods and services in 2022.
He lauded the Dominican Republic’s Ambassador, Her Excellency Angie Martinez, for the critical role she played in increasing her country’s exports to Jamaica by 39% in one year, noting that it is now Jamaica’s turn to do the same.
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Dengue is an infection caused by a virus spread by the bite of an infected Aedes mosquito. There are four dengue viruses- called Dengue Type 1,
and 4. You can only be infected by each “type” once in your lifetime.
High fever (40°C/104°F) with the following symptoms lasting 2-7 days:
Symptoms usually identified with MILD cases of Dengue Fever are:
Sudden onset of fever
Headache
Pain behind the eyes
Muscle pains
Bone or joint pain
Skin rash
Vomiting or the “feeling to vomit”
When severe dengue is suspected, you should be rushed to the emergency room or the closest health care provider.
Paracetamol can be taken to bring down fever and reduce joint pains. However, Aspirin or Ibuprofen should NOT be taken since they can increase the risk of bleeding.
3-7 days after first symptoms of mild dengue. Decrease in temperature (below 38°C/100°F), with:
Person with SEVERE Dengue may have all the symptoms of Dengue fever, in addition to:
Severe belly pain
Persistent vomiting
Bleeding from the mouth, nose or other unusual places
Bloody or black, sticky stool
Feeling faint
Low energy or restlessness
Small bleeding spots under skin
Shortness of breath or difficulty breathing
Micro, small, and medium-sized enterprise operators (MSMEs) in the food processing industry are encouraged to ensure that food product labels and packages meet regulatory standards.
The call came from a Technician in the Science and Technology Division at the Bureau of Standards Jamaica (BSJ), Pauline Bailey, who spoke at a recent ‘Virtual Biz Zone’ session hosted by the Jamaica Business Development Corporation (JBDC).
During her presentation on the various standards for prepackaged foods, she appealed to food processors, specifically those who want to enter the United States (US) or United Kingdom (UK) markets, “to get their labels correct.”
A correct label, she said, irrespective of the jurisdiction, “must meet regulatory requirements, give sufficient information about the product and advertise the product.”
She highlighted that the JS CRS 5:2015, the Jamaican standard for pre-packaged foods, is similar to packaging standards across the US and the UK, requiring product labels to be sectioned into a Principal Display Panel (PDP) and an Information Panel (IP).”
The PDP, also known as the front label on a product, is the part of a food label most likely to be displayed to the customer when sold. At the same time, the IP would contain the nutrition facts, ingredient statement, allergen declaration, and the name and place of the business that manufactures the product.
Another similarity among the standards is that they clearly outline that the net quantity declaration should be displayed on the PDP.
For Jamaica, however, “The net content shall be declared in the metric system. If the imperial system declares the net content, it shall be stated in conjunction with the metric,” Ms. Bailey explained.
The standards also require that the ingredients list be present on the Information Panel of the product label and be listed in decreasing order of proportions by weight or volume. This is except for products that contain only one ingredient.
Meanwhile, she informed that the date mark, batch code, name, and address statement must also be included on the Information Panel of the label.
Ms. Bailey reminded businesses that “if products are labelled correctly for the Jamaican market… there is hardly much to add for the international market.”
Meanwhile, the Technical Services Manager at the JBDC Incubator & Resource Centre (IRC), Collin Porter, highlighted why adhering to regulatory standards for food product labels and packages is essential.
“The law requires that food products be properly labeled to be retailed. If they do not have proper labelling and packaging, the products cannot enter the market and will be removed from the shelves,” Mr. Porter explained.
“As part of the process, whenever someone designs an information label, it has to be submitted to the Bureau of Standards for approval. You can’t just make a label, put on information, and then put it on the shelf like that, as it has to be approved by the Bureau,” he said.
Business owners who might need assistance with labelling their products may reach out to the JBDC Incubator Resource Centre via phone at 876-758-3966-8 or through their website at, https://www.jbdc.net/services/technical-services/
Persons may also visit the IRC at Unit 10A,76 Marcus Garvey Drive, Kingston 13.
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Artificial intelligence (AI) is no longer a futuristic concept. Many businesses, whether small or large, are using AI to streamline operations, enhance customer experience, and increase revenue. In this blog post, we'll explore some of the key benefits of using AI to improve your small business.
One of the most significant benefits of using AI in your small business is that it can help improve efficiency. AI can automate repetitive tasks, such as data entry, invoicing, and inventory management, freeing up your employees to focus on more complex tasks. AI-powered tools can also help identify inefficiencies in your business processes and provide recommendations to optimize them.
AI-powered chatbots and virtual assistants can help improve customer experience by providing quick and accurate responses to customer inquiries. Chatbots can handle routine customer service inquiries, freeing up your customer service team to deal with more complex issues. They can also provide 24/7 customer service, ensuring that customers can get the help they need anytime. Millennial Media Management employs AI in some aspects of serving our clients.
AI can help small businesses make better decisions by providing insights and recommendations based on data analysis. AI-powered analytics tools can help identify patterns and trends in customer behavior, sales data, and other business metrics. This information can be used to make data-driven decisions, such as which products to stock, which marketing channels to use, and which customers to target.
By automating repetitive tasks, improving efficiency, and enhancing customer experience, AI can help small businesses increase revenue. AI-powered tools can also help identify new business opportunities and recommend capitalizing on them. For example, AI can help identify new markets to target, suggest new products to offer, and help optimize pricing to maximize revenue.
AI is not just for large corporations. Small businesses can also benefit from using AI to streamline operations, enhance customer experience, and increase revenue. By improving efficiency, enhancing customer experience, and providing better insights, AI can help small businesses compete more effectively in today's fast-paced business environment. If you're not already using AI in your small business, now is the time to explore its potential benefits.
Minister of Tourism, Hon. Edmund Bartlett, says Jamaica experienced its strongest summer ever in its history.
“We closed the summer with just a little over 800,000 stopover visitors, and when cruises were added… another 230,000… We had just a little over a million visitors in the period, and we earned US$1.5 billion for Jamaica this summer, the highest and best that we have had,” Mr. Bartlett said.
Speaking at the press launch of the Jamaica Product Exchange (JAPEX) at the Courtleigh Hotel and Suites on September 7, the Minister said this had put the country on a path where at the end of August, Jamaica received 2.7 million visitors overall, and US$3.1 billion in earnings.
“This is the first time in our history that we have broken the US$3-billion mark before the ninth month of the year, as we did that at the end of August,” Mr. Bartlett said.
The Minister added that the sector is well on track to set a new record of making US$4 billion at the end of the calendar year.
JAPEX, the Jamaica Hotel, and Tourist Association (JHTA) premier trade event, is the single most important business generator for Jamaica’s tourism industry. In three days of pre-scheduled appointments, wholesalers, tour operators, and travel agents meet with Jamaica’s leading tourism suppliers to conduct business negotiations.
The event was held from September 11 to 13 at the Montego Bay Convention Centre in St. James.
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For further information, please contact the Ministry of Health & Wellness’ Emergency Operations Centre at 888-ONE-LOVE (888-663-5683).
Do not store food items with chemicals such as kerosene, bleach, detergents, and insect sprays
Do not purchase/use food from tins that have signs of dents, bulges, or other damage
Keep food items in a dry and cool place
Store packages of sugar, flour, rice, and crackers in their original package or tightly closed containers
Keep a bag with emergency food supplies if you have to evacuate your home. This should include only canned and dry food items.
Store water in a clean, covered container. The lid of the container should fit tightly to prevent mosquito breeding.
Do not use containers that have previously stored harmful chemicals
Use a clean container with a handle to “dip up” water from the storage
Persons with chronic illnesses such as diabetes, high blood pressure, heart disease, and asthma are reminded to have an adequate supply of medication and, if they have to evacuate their homes, must ensure that they take their medications to their shelter.
They should continue to take their medications as prescribed by the doctor while away from home.
All pregnant women within one month of their delivery date should relocate to family or friends near a hospital or delivery center. Please note that public hospitals will remain open to accept emergency cases.
