MSME Alliance Wants Tax Breaks for Start-ups

President of the Micro Small and Medium Enterprises, MSME Alliance, Antoinette Hamilton, is calling on finance minister, Fayval Williams, to announce a tax exemption for new businesses.

According to Hamilton, that’s her main wish as the finance minister gets set to deliver the opening presentation in the 2025-26 Budget Debate.

Hamilton is also calling on the finance minister to make it easier for the smallest businesses in the MSME Alliance to borrow funds from the Development Bank of Jamaica.

And Hamilton is warning of the negative knock-on effect of the failure by commercial banks to reduce their interest rates in line with actions taken by the Bank of Jamaica, BOJ.

Last week, the BOJ announced it was keeping its benchmark interest rate at six per cent.

Borrowers, including small business operators have lamented that despite the move by the central bank, commercial banks are still not lending money close enough to the BOJ’s benchmark.

She’s calling on the government to compel the big two players in the commercial banking sector to comply.

Antoinette Hamilton, president of the MSME Alliance.