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ACCA (Association of Chartered Certified Accountants)  and JBDC (Jamaica Business Development Corporation) signed a Memorandum of Understanding on Thursday, October 29, 2009 with a commitment to collaborate on issues related to the development of the SME sector through the enhancement of support to the sector.

As JBDC continues to implement its mandate of assisting enterprises to formalize and modernize their operations, ACCA will through the Memorandum of Understanding provide technical expertise and guidance to ensure advancement in professionalism and accounting rigors in the sector.

The Memorandum of Understanding which was signed by Ms. Brenda Lee Tang, Head of Corporate Development, ACCA Caribbean and Ms. Valerie P. Veira, Chief Executive Officer.  JBDC was witnessed by Mr. Harold Davis, Executive Director, JBDC and Mrs. Paula Marcelle-Irish, ACCA’s Manager, Northern Caribbean.

JBDC is the second institution in the Caribbean to have a joint agreement with the ACCA for supporting SMES.  The first was the Small Business Association (SBA) of Barbados.  A similar Memorandum of Understanding has already been signed in Zambia.

Ms. Veira expressed optimism that the collaboration will have a significant impact on enhancing efficiency within the enterprises and that the ACCA is an excellent partner who would bring international experience to the sector.

Ms. Lee Tang said the agreement signified ACCA’s pledge to its membership, of its commitment to the development of the sector.  She remarked that in the current economic climate, it is small businesses that are supporting economies and therefore it is imperative that the SME framework be strengthened.  It is her hope, that the signing of this MOU will contribute to an effective and less burdensome framework specifically catered to small business in Jamaica.

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