Basil Naar, general manager of Churches Cooperative CreditUnion, says big companies should consider apportioning some of their profits to small-business development. - File

Churches Cooperative Credit Union has opened a cashless office in Trench Town, Kingston, saying it was its first within an inner-city community.

The office, which will provide advisory services, became operational in November.

"With our entry into Trench Town, Churches Credit Union has come prepared to assist the community to enable financing to be channelled to small entrepreneurs," said Basil Naar, Churches' general manager.

Naar says Jamaica's corps of micro entrepreneurs who fall in the low-income bracket is estimated at 200,000.

However, only five per cent of them have access to financial services or capital that allow them to start or grow their businesses.

Unleashing capital to the small and micro enterprise sector, he said, requires initiative, not only by government, but also new thinking by the big companies and corporations.

Supporting small entrepreneurs

His suggestion is for big money-makers to apportion a percentage of their profits to fund and support small entrepreneurs.

"We cannot allow Jamaica to boom, with only a tiny elite being blessed," he said at the opening of the Churches Advisory Centre.

"The children of Trench Town need a safe home and a good education. They need jobs so that they can be proud and useful citizens."

Over the next six months, Churches itself will be introducing a job bank in Trench Town for its members and customers to register their skills in a database that will be accessible by potential employers in and outside Trench Town.

The new office will also offer advice on preparing for the job market, and guidance on business development.

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