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Jamaican MSMEs opt for savings rather than borrowing to fund start-ups — Study

microfinance

POTENTIAL micro, small and medium sized enterprises (MSMES) in Jamaica would rather save than borrow their start-up capital, according to findings of a study done by a member of the Inter-American Development Bank (IDB) Group.

The issue of borrowing isn’t trivial — persons have to access personal and business loans, but they don’t want to be saddled with debt, said Therese Turner-Jones, IDB country representative, Jamaica.

Turner-Jones revealed this aspect of the findings of the study done by the Multilateral Investment Fund on Monday. The occasion was the launch of the fifth annual Caribbean Microfinance Forum (CFM), which is to be held in Montego Bay, June 2-5.

Published in the Jamaica Observer
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