Gov't working to fix slow payments to micro, small businesses
Finance Minister Audley Shaw says the Government will be revising its payment arrangements for micro, small and medium size (MSME) businesses that supply goods and services to the public sector.
The MSME sector has long complained of the inconvenience of the lag time in being paid for goods and services.
Shaw says the Government acknowledges the problem of slow payments and pledges to address the issue.
He says the Government is committed to creating an enabling environment for MSME’s to grow and contribute to nation building, especially given the plan announced last year for Jamaica to record five per cent growth in four years.
The finance minister was speaking at a policy forum hosted by the Young Entrepreneurs' Association of Jamaica.