The Development Bank of Jamaica (DBJ) announced recently that the Scotiabank enterprise-wide risk management and financing program, (SERMaF) has done a sterling job in producing the first Caribbean risk assessment tool.DBJ’s General Manager of Strategic Services, Claudine Tracey, told business owners and other stakeholders at SERMaF’s closing ceremony, that the psychometric risk-rating model will help the DBJ shape its policies and programmes for MSMEs. Tracey said the model can advance the DBJ’s aim to provide Jamaican entrepreneurs with capital, collateral and capacity building and increase access to financing for MSMEs in Jamaica. The technical analysis was spearheaded by consultant Professor Vanus James using a study that collected data from over 1,000 SMEs in a stratified random sample that included all parishes. The model is meant to implement an upgraded business and risk-rating system for MSMEs, but to later include medium-sized and large businesses. Two key findings, according to Professor Vanus, are that MSMEs are well represented among top performing firms and that the smaller businesses that are not growing are asset constrained, and they can’t grow unless they get access to credit. The DBJ partnered with Scotiabank and the University of Technology (UTech) on SERMaF in May 2014 and provided $13.6M in grant financing to expand the project. At yesterday’s ceremony, Professor Rosalea Hamilton, SERMAF’s Project Director and Vice President for Development at UTech, thanked the DBJ for doing the heavy lifting in supporting the programme.