Yaneek Page is president of the Women Business Owners (WBO) association in Jamaica. WBO was founded in 2003 to foster and promote the success of women business owners through education, research, mentorship and education.
In 2005-2006 Women Business Owners (WBO) Jamaica completed a study of women and family owned business in Jamaica (the survey counted 2,916 family-owned businesses (FOBs) and 1,718 owned by women (WOBs)). The study was done in partnership with the Jamaica Conference Board, the Bank of Nova Scotia Jamaica Ltd., the United States Agency for International Development and Mona School of Business at the University of the West Indies. The themes covered in the study included the business characteristics, business leadership, business relationships, succession and resource planning, and governance and citizenship. The key findings from the study were:
- There were 315 operations categorised as both FOBs and WOBs, largely based on the uncertainty of respondents attached to those businesses.
- The highest number of FWOBs, approximately 1,512, was recorded in the Kingston and St. Andrew metropolitan area, skewed 60 per cent to FOBs; followed by St. Catherine with 1,308; and St. Ann with 449.
Building on this report, WBO has recently launched a program with Scotiabank Jamaica and the Inter-American Development Bank to support businesswomen who seek to grow their enterprises. Under the new endeavor, Scotiabank has set aside J$300 million for members of WBO who need working capital, re-tooling of processes, upgraded technology, and other investments needed for growth.
The executive summary which is reproduced here, details in point form the main findings of the study: Continue reading ‘Women Owned Businesses in Jamaica’ »