Lending Capital
What is the main purpose of lending capital to businesses?
To help businesses start, expand, and improve operations.
Why is training important for business success?
It improves employee skills, productivity, and service quality.
How do research and information centres help businesses make better decisions?
By providing market trends, economic data, and industry insights.
How do subsidies help businesses reduce costs?
By lowering expenses for raw materials, production, or services.
NIS stands for
National Insurance Scheme
How does technical assistance help small businesses grow?
It provides mentorship, business advice, and training to improve efficiency.
How does human resource development benefit employees in the long run?
It increases job opportunities and career growth.
Why is market research important for a new business?
It helps identify customer needs and competition.
Give one example of a business that might benefit from a government grant.
Tourism, Agriculture, Education
SLB stands for
Student Loan Bureau
Give two examples of how an entrepreneur might use a business loan.
Buying equipment and expanding production.
In what ways can training programs improve a company’s productivity?
By reducing errors, improving efficiency, and boosting employee confidence.
What kind of information can a business get from research centres?
Sales trends, consumer preferences
Why do governments provide subsidies for agriculture?
To support food production and ensure food security.
TEF stands for
Tourism Enhancement Fund
What challenges might businesses face if they do not have access to lending capital?
Limited growth and financial struggles.
What types of skills do businesses look for when hiring employees?
Technical skills, communication skills, and problem-solving abilities.
How does access to research help businesses stay competitive?
By allowing them to adjust to market changes and improve strategies.
How do grants help businesses that cannot afford startup costs?
By providing free financial assistance to cover initial expenses.
What is one way the government supports education in Jamaica?
By providing free primary, secondary, teritiary schooling
What does Sme stand for?
small and medium-sized enterprise
What could happen to a business if its employees are not properly trained?
Poor customer service, low productivity, and high staff turnover.
What challenges might a business face without access to accurate market data?
Poor decision-making, financial losses, and inability to attract customers.
What impact do subsidies have on the price of goods and services?
They help keep prices lower for consumers.
Why is it important for the government to provide social services to its citizens?
To improve quality of life and reduce poverty.