The Inter-American Development Bank (IDB) and the Jamaica Business Development Corporation (JBDC) have signed a $150,000 agreement to test the viability of an innovative business training method for entrepreneurs in Jamaica.
According to Project Management & Research Manager at the JBDC, Lisa Taylor-Stone, the outcome of the project is to test an innovative entrepreneurial training programme for micro entrepreneurs using experimental methods.
She says approximately 1,050 micro, small & medium-sized entrepreneurs are set to benefit from the project.
Meanwhile, IDB Country Representative, Therese Turner-Jones says with statistics showing that the majority of new businesses fail within their first year of operation; improvement is needed in the way entrepreneurs are trained.
The IDB will begin training select JBDC team members over a two-week period, starting February 29.