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Minister Shaw Urges Businesses To Get Formal – Jamaica Information Service

Minister of Industry, Investment and Commerce, Hon. Audley Shaw, is encouraging more entrepreneurs to formalise their businesses through registration in order to gain access to greater funding opportunities with lower interest rates. He said formalisation will also allow businesses to become more competitive in the local as well as the international marketplace. “Instead of going to borrow money at 20 and 30 per cent interest rate, ending up putting your business in more trouble than anything else and having lower productivity, low profit margins, get formal so that you can get money at less than 10 per cent,” he advised. “It will give you a better chance to be more productive, to get more creative and to identify opportunities both on the local as well as international platforms,” he added.

Shaw encourages entrepreneurs to formalise their businesses

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