As businesses seek to thrive locally and globally, the JCC seeks to provide members and other local businesses with information that is vital for capacity-building and gives market insights that is relevant.
How to start a business in Jamaica?
Thinking of starting a business in Jamaica? Let us help you get started.
The Companies Office of Jamaica (COJ) registers local, overseas companies, individuals and firms conducting business in Jamaica. It actively encourages voluntary compliance of companies and businesses with the Companies Act of 2004, the Companies (Amendment Act) 2013, the Registration of Business Names Act of 1934 and maintains up-to-date records of all companies and businesses registered. Their mission is to facilitate ease of doing business in Jamaica by providing effective and efficient registration systems which promote business regulation and deliver accurate information to all stakeholders.
In Jamaica, there are two basic structures to choose between:
- A Company: this is a commercial enterprise registered or incorporated under the Companies Act. (A company can either be non-profit (Charity, Club, NGO etc) or profit generating).
- A Business Name: this is a sole trader, partnership or trade name registered under the Registration of Business Names Act.
For more information about registering a business in Jamaica click here JAMPRO
Consumer Price Index
The Consumer Price Index (CPI) measures changes in the general level of prices for consumers goods and services purchased by private households. Jamaica’s CPI decreased by 0.1 percent for April 2022. This is attributed to the 3.1 percent fall in the index for the division ‘Housing, Water, Electricity and other fuels’ due to lower electricity rates. The April 2022 Consumer Price Index Bulletin outlines additional information and may be obtained from the Statistical Institute of Jamaica website at www.statinja.gov.jm or https://statinja.gov.jm/PressReleases.aspx?field1=cpi
Producer Price Index
For the period ending April 2022, the PPI for the Mining and Quarrying industry decreased by 1.8 percent while there was an increase of 1.6 percent in the index for Manufacturing industry, as released by the Statistical Institute of Jamaica (STATIN). The movement in the index for the Mining and Quarrying industry was mainly attributed to a 1.8 percent fall in the index for the major group ‘Bauxite Mining & Alumina Processing. The index for the other major group ‘ Other Mining & Quarrying’ declined by 0.4 per cent. This fall was due to the appreciation in the Jamaican dollar when compared to the United States dollar over the review period. The April 2022 Producer Price Index Bulletin outlines additional information and may be obtained from the Statistical Institute of Jamaica website at www.statinja.gov.jm or https://statinja.gov.jm/Trade-Econ%20Statistics/PPI/NewPPI.aspx