‘Don’t be afraid to fail’ - Budding entrepreneurs urged to be bold and strategic

As more Jamaicans step away from traditional nine-to-five jobs to explore entrepreneurial ventures -- whether launching e-commerce businesses or adding creative twists to farming -- the air is thick with ambition.

But, as many quickly realise, passion alone isn't enough to succeed. Despite the daunting prospects, Charmaine Brimm, technical specialist at the Planning Institute of Jamaica (PIOJ), has urged young persons to step into the world with faith and determination.

"Don't be afraid to fail. Try and try again," Brimm told aspiring entrepreneurs at a small business management symposium, held at Trench Town Polytechnic College in St Andrew on Friday.

Brimm, who is attached to the PIOJ's community renewal programme, didn't hold back as she unpacked the tough road to building a successful business in Jamaica.

"Sometimes the issue of mistrust makes somebody say, 'I want to start this business, and it's me and me alone.' But your business can't grow if it's just you. You need customers. You need a bank. You need help," she declared.

Brimm stressed that small businesses are not to be brushed off as mere side hustles. In fact, she said, they're at the heart of Jamaica's future economy.

"MSMEs contribute up to 80 per cent of employment in Jamaica. That's major! And the students here today are being trained to enter that sector, so they're already part of the Vision 2030 goals."

Brimm noted that while starting up is the first step, staying up is where the real challenge lies. Many young entrepreneurs, she said, need access to stronger incubator services that follow them beyond the early stages.

"Incubator services need to go beyond the start-up phase. Entrepreneurs should be able to return at different stages of their business growth," she insisted.

She also warned that the basics are often what trip up small ventures.

"A lot of small businesses don't even have the basic systems in place. Even something like a simple business model that reflects market trends and customer demand can make a huge difference."

On the matter of growth, Brimm said money must be in the mix -- whether through reinvestment or accessing credit.

"Businesses are set up to make a profit, but you can't grow without money. Whether it's reinvestment or access to credit, financing is a key part of getting to the next level."

With 13 years of experience at the PIOJ, her closing words were clear.

"Be patient. Quench your appetite in those first five years. The money might start coming in, but don't let excitement derail you. Reinvest. Think generational. That's how you build lasting wealth."