Armed with over J$200m and a simpler, more streamlined approach to providing financial and technical assistance through the adoption of the 'Cluster Development' mechanism in its operational methodology, senior officials at the Private Sector Development Programme (PSDP) are concentrating their activities to help micro, small and medium enterprises across Jamaica to better compete and even outperform their counterparts in the global marketplace.

"The cluster approach is a tried and proven technique to business development that presents a real opportunity for enterprises across Jamaica to grow and develop into more profitable, competitive organisations," said programme manager of the PSDP, Delaine Morgan, who was speaking at the recent launch of the programme's Cluster and Sector Initiative (CSI) at the Knutsford Court Hotel.

Cluster symposium

The launch was part of a cluster symposium held to sensitise key players in the private sector on the advantages of the cluster approach, as a mechanism for building business competitiveness.

According to Ms. Morgan, the aim of the PSDP's Cluster Sector Initiative is to foster inter-firm collaboration to achieve and establish competitive advantages in local and global markets. She challenged the private sector to utilise the opportunities under the CSI component to set themselves as pioneers and trendsetters, who will position the business sector across Jamaica as the best in the world, like so many Jamaicans in other fields have already done.

The PSDP is a €28.67 million (J$2.3 billion) joint initiative of the Government of Jamaica and the European Union (EU) to enhance the performance and the competitiveness of micro-, small- and medium-size enterprises, as well as to strengthen their support organisations and institutions. Now in its second phase of operations, the PSDP has refocused its operations and will be using the 'cluster approach' to provide a more holistic and broader range of assistance to MSMEs.

Over the next month, the PSDP will be working with PSOs to formulate concepts for the development, coordination and implementation of cluster activities. It is expected that the PSDP will begin funding cluster activities by the beginning of September this year.