Small business loan entity to scale back operations


April 15, 2016
Rudolph Brown/Photographer Senator Ruel Reid, Minister of Education, Youth and Information speaks to members of the media during a post cabinet press briefing at Office of the Prime Minister's Press Room on Wednesday.

A major state entity set up to provide financing to small businesses will be cutting back on its operations, and indications are that it may even be shut down.

Information Minister Ruel Reid announced on Wednesday that the entity, the Self-Start Fund, will be scaling down in order to cut costs.

But Donovan Wignall, president of the Micro, Small and Medium Enterprise Alliance, said the entity, which had been merged with the Micro Investment Development Agency and the Jamaica Business Development Corporation, would not be missed if it is closed.

"I didn't see the impact before. If you were set up to do something and you weren't able to do it, because you didn't have the resources, then with you not being there, then there would be no impact. It won't be missed," Wignall said.

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