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Several experts in the financial, education and employment sectors agree that exposing young people to basic financial concepts at an early age in a classroom setting will assist them to make better ‘financial decisions as adults.
“This can only work out to the advantage of the child in the long run, especially when he or she is faced with critical life decisions about how to spend and invest money. It will also redound to the benefit of the country, given that financially educated consumers can make a positive impact on emerging economies,” posits Rose Miller, grants manager at the JN Foundation.
Miller maintained that optimally, personal finance should be taught in school and at home.
“However, the reality is that many Jamaicans aren’t as financially knowledgeable as they think they are,” she said, pointing out that the Standard & Poor’s (S&P) 2015 Global Financial Literacy Study indicates that only 33 per cent of adult Jamaicans are considered financially literate”.
 
BAD FINANCIAL DECISIONS
 
Miller said that what the S&P study revealed is that many Jamaicans are making ill-advised financial decisions, which end up costing them thousands, even millions of dollars over time.
“Financial ignorance carries significant costs. Consumers who fail to understand simple concepts, such as interest rates, spend more on transaction fees and run up bigger debts. They also end up borrowing more and saving less money,” she advised.
Miller, who also heads the JN Foundation’s BeWi$e financial-empowerment programme, noted that JN hosts workshops about money management for children and adults across the country. JN Bank has also implemented the JN School Savers’ Programme, which inculcates good money-management principles and practices in students at the basic-school level and upwards.
“I believe that financial education is too important a subject to be left to chance and it should, therefore, be fully integrated into the school curriculum,” she said. “Playing sports, exercising and brushing one’s teeth are good life habits, and we all start learning them from we are very young. Personal finance is also about establishing good habits from as early as possible.”
Miller maintained that courses should be targeted at teach ing children the value and consequences of their financial decisions, which relates to living a healthy and responsible life.
“Children are confronted early in their growth process with wanting to buy a toy or a cell phone,” she added, explaining that these are financial learning opportunities.
Miller said elementary, school students can start with basic concepts such as trade-offs, price comparisons, costs versus benefits, and risk versus reward, as well as the value of money, which is another concept that is lost on the very young.
“We watched our parents use ‘real money’ to pay for goods when we were growing up. However, today, we live in a digital age in which our children see credit cards and debit cards being used instead of cash. Therefore, we need to explain to them that money is the unit that backs those cards,” she says, “as that is not readily apparent.”
Psychologist and founder of business management consulting firm Above or Beyond, Dr Leachim Semaj, agrees that financial education must be incorporated in the school curriculum from the basic-school level, pointing out that as students mature, more complex concepts can be introduced, from insurance and credit to compound interest.
“The average Jamaican has no idea how money works. It is as bad as that. A lot of people don’t understand something as basic as compound interest.
As a result, over the years, many institutions have taken advantage of their ignorance,” he said.
Semaj further noted, “The average small-business owner is ignorant about money management and profit margins. Many people confuse cash flow’with profit. They don’t even understand pricing. The fact is that cash flow is keeping a lot of businesses afloat, and the operators get the impression that they have a successful business, but they’re simply one step away from failure,” Semaj stated.
He noted that this is the kind of information and knowledge that young people must be exposed to in the education system.
“We also need to teach them concepts such as, what is a good loan versus a bad loan? Meaning, what are things you should borrow to achieve, and what you shouldn’t?” he advised.
 
Review the curriculum
 
Retired educator Esther Tyson said that with some schools now including entrepreneurship in their curricula, financial education should be interwoven into those lessons.
“It would help Jamaicans to better understand how financial institutions work, how to plan ahead and save for long-term goals,” she related. “Especially since we’re in the age where everything is immediate, and this makes things even worse as our young people need to learn that if they want to achieve big things, they should start very small,” she said. Tyson said that critical to the success of these initiatives is a curriculum, that allows children to make financial decisions and receive feedback in a safe space.
This can be achieved through a combination of traditional classroom activities, technology-enabled games, and some limited real-world practice, she affirmed.

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Long-term financial planning may not be at the forefront of one’s mind when they’re a 20-year-old university graduate.

As grants manager at the JN Foundation Rose Miller puts it, money management, the stock market, and retirement planning are remote ideas for many young people. But she warns that a lack of focus during one’s 20s when it comes to money will begin to take its toll by the time one is in one’s 30s.

The JN Foundation BeWi$e financial empowerment programme head maintained that this is why it’s important to plan ahead, noting that the sooner you determine how to manage your finances in some basic ways, the better off you’ll be.

In that vein, this week she highlights a few mistakes people in their 20s should avoid so that they will prosper in their 30s and beyond.

1. Avoid Skipping Student

“Delaying payment on one’s student loan is a bad idea,” she declared. Why? “Because, that will negatively affect your credit rating, and may also extend your debt burden into a time period when you will be exploring starting a family and purchasing a home. The sooner those university loans are paid down, the easier it will be to manage the next phase of your life. Young people are better off making a dent in their student loans before it’s time to settle down.

2. Avoid Spending All

“The adage, ‘It’s not how much you earn, but how much you save’ still rings true,” she noted, stating that if people are spending as much as, or more than they earn, it is only a matter of time before they will spiral into unmanageable debt.

“That lifestyle will make it almost impossible to build significant savings. Therefore, the solution is to live within your means, not beyond,” she advised.

Miller also cautioned young people to steer clear of trying to keep up with their friends’ spending habits. “Living up to your friends’ or co-workers’ standards is tempting. Choosing where to eat, what to wear, and what gadgets to buy based on what your friends are doing can ruin your budget,” she said.

“Simply because your friend seems able to afford the latest electronic device or an overseas trip or even attend the various weekend entertainment events doesn’t necessarily mean you can,” the financial adviser added.

3. Avoid Not Establishing a Savings Goal

Miller says to save more, it’s important to start off with a clear goal; and then put a specific plan in place to achieve that goal.

“Start by determining exactly what major purchases you plan for your future such as a home, a car, or improving your education. Next, determine how much you need to save to achieve those goals and how long a period you need to save the funds,” she recommended. “Finally, set up a recurring automatic transfer from your current account to your savings account, to ensure that you’ll be consistent with your savings.”

4. Avoid Dipping Into Savings

“Once you set up the account to take care of the goals you are trying to achieve, keep your hands out of it, be steadfast and determined,” Miller warned. She informed that one should create a mental and logistical barrier between themselves and this money, move it into a separate account, such as a high-interest savings account, or a money market account, which both offer higher interest rates than the traditional savings account. “The same is true for your emergency fund; unless you’re facing an actual emergency, keep your hands out of it.”

5. Avoid Paying the Minimum on Your Credit Card Balance

Most credit cards only require payment of one to three per cent of your balance each month. Paying the minimum can be a tempting option, especially if your budget is tight, but it can cost you a fortune in the long term because you’ll have to pay interest on the outstanding balance due.

Get in the habit of spending according to your budget and making monthly credit card payments in full. The easiest way to do that is to arrange to transfer the full amount of money you owe from your chequing account to your credit card company, every month. And, in some cases, you may even earn “cash back” at the end of the month based on the rewards on your credit card. “And, finally, as a young person there should be no need to take out more than one credit card,” Miller concluded.

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Jason McNeish (right) , marketing manager, The Jamaica National Group examines one of the bags produced by Bresheh with Randy McLaren, co-founder & managing director of Bresheh. Occasion was the official launch of Bresheh’s new collections of bags on  Thursday, September 27 at the Opa Greek Restaurant & Lounge at Devon House in Kingston.

Randy McLaren (centre), co-founder & managing director of Bresheh takes a photo with members of Ashe performing arts group. Occasion was the official launch of Bresheh’s new collections of bags on  Thursday, September 27 at the Opa Greek Restaurant & Lounge at Devon House in Kingston. The collection was launched in collaboration with the Social Enterprise Boost Initiative (SEBI), a project of the JN Foundation and the USAID. Bresheh is part of SEBI’s Accelerator Programme, where entrepreneurs are being targeted to further enhance their social businesses.

Three years after establishing their social enterprise, Randy and Davian McLaren, operators of Bresheh, a company, which manufactures local customized bags, have launched their new line of bags called “Roast by Bresheh.”
The new bags were officially introduced to the market on Thursday, September 27 at the Opa Greek Restaurant & Lounge,at Devon House in Kingston.
Randy McLaren, co-founder and managing director of Bresheh, said that the bags are targeted at corporate Jamaica and young professionals, who want fashionable bags.
“It satisfies their professional needs, in terms of holding everything that they need to carry from home to work and travelling, as well,” he explained. “For example, if you have a conference out of town, you are able to pack an overnight bag with items; and,if you are travelling overseas, it has compartments for your passport and laptop.”
Mr McLaren said this collection is different from Bresheh’s other bags, in that, it is more functional; it has more compartments and the designs are very different and more detailed.
“The finishing is different,” he pointed out, “And, a lot more work has gone into the design and its overall appearance. The bags are made from vegan leather, quality material, which will last up to 10 years and more without stripping.”
The collection allows room for customisation, as companies can print their logos on the bags; or, for an individual, their names.
“The collection is influenced by our culture, in the sense that, we borrowed from what a roast breadfruit looks like,” he explained. “The inside of the product is cream, mimicking what the inside of a breadfruit looks like, and, the external colours are brown, black and grey.”
McLaren said that during the past three years, the enterprise did well, despite challenges.  “We now employ 10 persons, moving from a team of two; as well as, we have relocated from a smaller verandah to a more spacious location in Cumberland, Portmore, St Catherine.
“Awareness of the brand has grown,as well as the impact we have been able to make. We are now even more inclusive in the way we employ and plan to employ. We having people, single mothers, rural residents, as well as individuals from the deaf community,” he explained.
A participant in the Social Enterprise Boost Initiative (SEBI) accelerator programme, McLaren said that SEBI assisted with their employee’s training and development and equipment upgrade.
“SEBI’s workshops brought in different professionals, who expounded on management and production topics; otherwise, we would not be able to find funds to gain expertise and knowledge. SEBI gave us access to different markets, teaching us to network and build awareness for the brand,” he related.
The Social Enterprise Boost Initiative is a project of the JN Foundation and the USAID. Through the Accelerator Programme, entrepreneurs are being targeted to further enhance their social businesses.
Opal Whyte, project manager of SEBI, expressed pride in the growth of Bresheh. She commended the operators of the social enterprise for their achievements in their three years of operation.
“The growth of Bresheh is phenomenal. It is like watching a young child blossom into an adult and contributes to making an impact on our society. We are proud to be associated with this enterprise. We see Bresheh contributing much more, as it continues to grow and become an international brand,” Ms. Whyte affirmed.
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Dionne Rose| Communication Officer

Engineers, who lead major housing development projects, are being urged to construct climate smart and resilient homes and buildings in Jamaica, by implementing water adaptation measures, such as water harvesting systems and water efficient fixtures.

Cicyln Joseph-Johnson, senior project manager at The Jamaica National Group, made that recommendation in her address to participants at Engineers’ Week 2018, which was held by the Jamaica Institution of Engineers (JIE), at the Knutsford Court Hotel in Kingston, recently.

Joseph-Johnson’s presentation focused on the Water Project Jamaica, a four- year venture, which is being implemented by the JN Foundation, in collaboration with JN Bank, the Inter- American Development Bank (IDB) and the Pilot Program for Climate Resilience (PPCR)

“Climate change and its impact are realities,” she stated. “The greater part of the impact is water, when we get floods, droughts, or hurricanes, which are significant. It is getting hotter and drier; sea levels are rising; and, there is positive proof that our people need to adapt measuresto address climate change.”

She argued that “the change” is impacting the island’s water supply and distribution systems that are challenged by inconsistent supplies, which she said, underscored the need for implementing water adaption measures.

In regard to the measures, Joseph-Johnson informed that, “for large construction developments, you may want to look at grey water harvesting; and storing more water, which can be re-used,” noting that a study conducted by the National Water Commission (NWC) revealed that 40 per cent of indoor water use in homes is used to flushtoilets and only five per cent for cooking and drinking.

The senior project manager said that the Water Project, which is the first of its kind in the Caribbean, will assist Jamaicans to adapt to climate change and implement measures that will result in more efficient use of water.

She said the project has two components, with the first being a loan facility, which is being administered by JN Bank, for the integration of water adaptation measures in Jamaica housing sector; and, the second element focuses on technical assistance and sensitisation.

“The loan component is based on the on-lending of funds from the IDB, which JN Bank will, in turn, lend to consumers, specifically developers and householders, to purchase devices that can improve water efficiency,” Mrs. Joseph-Johnson informed, noting that the loan offer, through the bank, will come on stream shortly.

Meanwhile, JN Foundation, the administrator of the project, will carry out public sensitisation sessions; and, conduct “demand and baseline studies,” which in the future will inform other projects of this nature in the Caribbean.

“The JN Foundation, through the project, will build capacity by training persons to understand how to install water devices; and create opportunities for entrepreneurs who market these devices,” Joseph-Johnson relates.

Other activities to be implemented under the project will include: a climate change summit; a pilot study on water efficiency baseline; and the development of a water adaptation guide.

Engineers’ Week, which was partly sponsored by JN Bank, was held under the theme “Engineering our Future through Celebrating our Heritage.”

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Most young people will readily admit that making more money is one of their top priorities.
One smart way of doing so, according to Rose Miller, who is also head of the JN Foundation’s Be Wi$e financial empowerment programme, is to monetise one’s hobbies and talents.

“Having an additional income stream can assist in balancing your budget at the end of the month and provide additional funds, which can be saved and invested to achieve your financial goals,” she states.

The best way to do this, she said, is to spend time doing something you love and would be willing to do for free.

“A hobby is an enjoyable activity; therefore, expanding it as a ‘side business’ is achievable, as you would be doing something that you are passionate about. Additionally, you will gain satisfaction from seeing others enjoy the products or service you produce, and the income earned from your skill will make a significant contribution to your financial security,” she added.

Miller, who is also grants manager at JN Foundation, pointed out that the first step is to, “Ask yourself, what do I love to do and how can I make money from that venture?

“I’d recommend that you at least select something that you will enjoy, because if you don’t enjoy your side hustle you’re far less likely to maintain it. Therefore, selecting something that you are passionate about is the first step,” she advises.

Hobbies that could potentially be monetised and turned into businesses include painting, woodwork, catering or baking, web design, gardening, writing or editing, singing, sewing, graphic design, public speaking and photography.

“Literally anything that provides value to others can be a potential side hustle, and all of these skills can be quite profitable if you learn how to make them work for you,” she maintains.

“If you are a songbird, your musical skill will always be needed at special occasions or on the entertainment circuit. You could also be an occasional after-dinner guest at hotels and large restaurants,” Miller says. “If you like to bake or cook, then this is also a great way to bring in some extra income. Meals are always needed for special occasions. Promote your culinary skills by providing samples of meals you are good at preparing to friends and family.”

Once the skill or talent to be monetised is identified, the next step is to do some research.

“The Internet is a great resource. Take a moment and Google, ‘How to Make Money Doing ‘X’, and I guarantee you’ll find a plethora of information to guide you along your way,” she points out.

She also recommends listening to what is known online as side hustle podcasts and blogs, which include sources such as the “Side Hustle Nation”, “Entrepreneurs on Fire”, and “Smart Passive Income”.

“These podcasts highlight people who are using their hobbies to make extra money. Many have successfully moved their project from being a side hustle to becoming a legitimate business, and they are earning real income from doing something which they are passionate about,” Miller highlights.

Next is promoting yourself, to ensure that potential customers know about you and the product or service you offer.

“A great tool to use is social media,” she states. “Chances are you have hundreds of friends on social media who are, in turn, friends with hundreds of others. Upload pictures or videos of what you can do. YouTube, Facebook, Instagram and WhatsApp have millions of users around the world; therefore, you can effectively reach a wide audience, at no cost to you, or you can monetise your exposure at a very low cost,” she advises.

Miller points out, too, that another skill some people will need to master in order to create a successful second income stream is how to manage their time.

“Most of us are completely drained after our full-time job. therefore, you will need to be creative when it comes to carving out time for your hobby without taking anything away from your day job,” she says.

“Perhaps you’ll need to wake up an hour or two earlier than you’re used to and get some things done prior to going to your regular job. Alternatively, it could also mean going to bed a few hours later so you can spend time working on your passion. You could also solicit the assistance of your friends and family members to get more accomplished.”

Finally, she recommends that people treat their side hustles or hobbies like legitimate jobs.

“If you want this hustle to become your main source of revenue one day, or at least a sustainable second stream of income, then you should give it the attention it deserves.

“Carve out time to work on your hobby; read about the industry; learn about sales and marketing, and dedicate yourself to steady improvement. That is how you will achieve positive and rewarding results,” Miller says.

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With the growing sophistication of financial markets and a rapidly increasing array of financial products and tools, it has become necessary for persons to invest time in their financial education, Grants manager at the JN Foundation, Rose Miller, who leads the Foundation’s empowerment programme, posits.

“For example,” she pointed out, “with governments in many countries pushing to improve financial inclusion, the number of people with bank accounts and access to credit products is rising at a faster pace.”

“Furthermore, changes in the pension landscape now places more decision-making responsibility on persons who previously relied solely on their employers or governments for their financial security after retirement,” she added.

The situation is compounded, she added, by the low level of financial literacy among Jamaicans.

“Financial education is important for everyone. No matter where you are in life, you need to take time to invest in yourself and seek to improve your financial IQ,” she stated.

According to the Standard & Poor’s 2015 Global Financial Literacy Study, only 33 per cent of adult Jamaicans are considered financially literate.

Financial literacy is defined as the convergence of financial, credit and debt management and the knowledge that is required to make financially responsible decisions which are integral to our everyday lives.

Miller said that financial literacy is a core skill which all Jamaicans should work towards developing and honing. She explained that it impacts the daily decisions which an average family makes when trying to balance their budget; purchase a home; fund their children’s education or ensure their personal income at retirement.

The subject also includes understanding how a chequing account works, knowing what using a credit card really means, how to avoid debt, and the importance of a good credit score.

The Standards and Poor’s 2015 survey on financial literacy also noted that financial ignorance carries significant costs. The ratings company noted that consumers who fail to understand the concept of compound interest spend more on transaction fees, run up bigger debts, and incur higher interest rates. They also end up borrowing more and saving less money.

… ‘Avoid The High Cost Of Financial Ignorance’

Grants manager at the JN Foundation, Rose Miller, concurred with the Standard and Poor’s 2015 Global Financial Literacy Study relating to Jamaica, noting that the potential benefits of financial literacy are manifold. She said that financially literate people are more in touch with their finances, and are therefore able to make sound financial decisions based on knowledge and facts rather than on hearsay or a simple hunch.

“They recognise when they’re getting sound financial advice, as opposed to foolish advice. They are also able to decipher and navigate their way through the myriad of financial information that faces them,” she related.

Miller further pointed out that financial education is important as it enables persons to maximise their income.

“Financially savvy people are also able to invest wisely. They are more likely to diversify risk by spreading funds across several ventures. They’re also able to spot opportunities that will help them to advance themselves financially and attain financial security,” Miller explained.

Always More To Learn

She further advised that no matter how much you think you know about the financial world, there is always something else to learn.

“When it comes to financial literacy, you never really complete the learning curve. Therefore, commit time to your financial education every single day, because the area is as wide as the ocean and is constantly changing. Many persons have grasped some of it, but there’s really so much more information out there that you can access,” she noted.

Standard and Poor’s noted that only about one in three adults demonstrates a clear understanding of basic financial concepts, and most people are unprepared to deal with rapid changes in the financial landscape. So how does one improve financial literacy?

Miller suggests taking advantage of the wealth of information readily available online.

“YouTube is a good resource for information. There are countless videos online that can help you raise your financial IQ. You can also subscribe to online newsletters, such as www.investopedia.com and www.financiallysmartadvice.com, which provide a wealth of information. Also, there are several financial literacy seminars that take place across Jamaica annually. Look out for those opportunities and take advantage of them,” she related.

The JN financial empowerment officer also recommends that persons read at least four books on the subject per year.

Some titles she suggests are: The Automatic Millionaire; Raising Financially Confident Kids; Think and Grow Rich; Rich Dad, Poor Dad; The Richest Man in Babylon; The Handbook of Personal Financial Planning and Start Late Finish Rich.

“There are numerous books with easy-to-understand information out there. Many of these books are available online; therefore, we have no excuse to remain uninformed. And in the final analysis, there is too much at stake; hence, you should take responsibility for your financial education and avoid the high cost of financial ignorance,” she maintained.

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KINGSTON, Jamaica — The JN Foundation says that it has awarded five-year scholarships to 37 students, in recognition of their outstanding performance in this year’s Grade Six Achievement Test (GSAT).

The awards mark the 35th year since the inception of the JN Scholarship Programme in which hundreds of students, including some at the tertiary level, have benefitted, financial institution JN said in a release on Sunday.

Maureen Duckie, a shopkeeper of Sevens Road in May Pen, pointed out that she was grateful for the scholarship award to her daughter, Jada Duckie, who scored 98.8 per cent in the GSAT, JN stated in the release.

“I can’t thank JN enough for the scholarship, because I was able to purchase her books and uniform to go back to school. It was an answer to my prayer. I’m feeling so good about it. God bless JN,” she is quoted as saying.

Jada received the second highest score in the parish of Clarendon, which earned her a place at Glenmuir High, the school of her first choice. Like her mother, she is happy to be a scholarship recipient.

“I cannot believe that I had done so well to receive a scholarship. Leading up to the GSAT I didn’t sleep comfortably because I was petrified by the sound of gunshots, which I heard frequently. I’m so honoured and thankful. I know a lot is expected of me and without a doubt, I will continue to work hard to make my parents proud,” she stated.

Grants manager at the JN Foundation, Rose Miller, explained that the JN Foundation welcomes the opportunity to fund the scholarships, annually.

“We believe that funding education is an investment in our people, and by extension, in our country. Empowering our young people to achieve academically is a step in the right direction to assist us to achieve the National 2030 Vision of making, ‘Jamaica, the place of choice to live, work, raise families, and do business.’ And, these students will soon be at the forefront of the development of our country. Therefore, our aim to do all we can to nurture their minds and to equip them to become successful citizens.”

She noted that with the renewal of the GSAT scholarships annually, more than 100 students at the secondary level; and 16 students at the tertiary level, attending The University of the West Indies, the University of Technology, Northern Caribbean University, and the University College of the Commonwealth, receive assistance to pursue their studies.

This year’s GSAT parish scholarship recipients are: Anastasia Fraser, Ashleigh James, Domonick Lewis, Erica Stewart, Gabrielle Brown, Harshita Relwani, Jada Duckie, Jahalia Troupe, Jo’anna Hill, Joshanne Smith, Kyona Cunningham, Reneé Henry, Theresa Whyte, Tomoya Allen, Trev-Ann Cameron and Vashti Tracey.

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American Philosopher, William James, advised, “Act as if what you do makes a difference. It does.” Accepting this charge and doing just that in unique fashion, is what Lashlawnda Bailey has done. Here is her ‘Inzzpiring’ story.

The founder and jewellery creator of Inzzpire 365, told Outlook, that “for as long as I can remember, making things came naturally, whether it’s poetry, a skirt, some drawing, practicing calligraphy – I’ve always been doing creative stuff”.

Bailey, however, didn’t dabble in the pleasures of wearing jewellery until 2003, while attending teachers’ college. Coordinating necklaces of varying hues and shapes to complement her uniform, became a pastime for the student. But the stylish gesture had her wondering, “Why buy jewellery when I can make them myself?” She put her hands to creative use, constructing a few for her friends. Pretty soon, she was selling to those who expressed interest in the designs, and it was through this practice, that she was able to replenish her supplies. “I started teaching and my co-workers began making requests, so I started selling to them as well. Jewellery eventually became therapy for me. Every time I was feeling down, I would go to it; when I needed money, it would be my safety net,” Bailey confessed.

Inzzpiring Change

So when it came to choosing between the two passions in 2015, Bailey left teaching. Investing in her talent made the most sense, and in December 2016, the company officially began operations.

“Jewellery-making basically saved my life. I was severely depressed. Just having my hands trying new things, opened up a new world. I came up with interesting designs and persons loved them,” she elaborated. That’s when she decided to take the jewellery business to another level.

“I was searching for purpose in my life. I found hope. I found a reason to live. So, I felt like I needed to inspire others and give them hope. If I could reach other persons by way of my jewellery, then that would bring some satisfaction to me, and it would feel like I was changing lives.”

According to the craftswoman, the jewellery she makes is different from popular ones on the market, because her pieces are timeless.

So if you’re looking to ‘doll up’ for a party, opting for a casual look for the road or seeking to accentuate your look for the office? Inzzpire 365 has it all.

With all the competition, Inzzpire 365 also aims to inspire.

“We bring hope to people because we let them know they have a reason to go on. Through working with the Social Enterprise Boost Initiative (SEBI), we have been able to cement our mission by allowing persons access to organisations that can help them with depression, suicidal thoughts, and other mental issues. As part of our mission, we are also working with a partner to pay for counselling sessions for persons who cannot afford them.”

Husband and business partner, Kevin Miller added, “The more we share our story, the more people will see what and who we are and the more people will support us. The fact is, people are very interested in the social mission aspect that we offer, it empowers the business.”

Overcoming Challenges

Having built their business solely out of pocket, Bailey and Miller initially faced financial challenges. But, they credit the JN Foundation/USAID SEBI project, for coming to their aid, as well as providing guidance for business structure and record keeping issues.

“Prior to the accelerator programme, we were part of the open network, and we were lucky to be invited to a number of workshops that were specific to business; and being a part of the accelerator programme has been a major benefit. We were selected for the project’s trip to Silicon Valley for knowledge exchange, and they are in the process of acquiring equipment on our behalf. They offer opportunities for networking. They allow us to connect and make sales. We participated in the SEBI Booth at Expo Jamaica this year, and last year, we were at the Buy Social Fair at US embassy.”

Silicon Valley

The once-in-a-lifetime chance to visit Silicon Valley, gave Bailey, what is a rare opportunity for many local businesses – to consider how they would exist in a global economy.

“It gave me time to think and made me realise that what I am doing with Inzzpire 365 can extend beyond Jamaica. There are persons who are faced with mental-health challenges throughout the world and I should not limit my thinking to just Jamaica. I should also remember I have a mission-based business and need to stay true to that all throughout. Also, if I am a social entrepreneur, I should always think social – and ask myself ‘What else can I solve? What other innovation can I come up with to solve social issues?”

In the future, the Inzzpire 365 team hopes to increase awareness of their products and mission, as well as continue to acquire tools and the equipment necessary for the expansion of their business.

For more information on how to get your hands on their jewellery collection, or how to join the movement, you can find Inzzpire 365 on Facebook and Instagram: @inzzpire365, visit their website: www.inzzpire365.com, or call: (876) 798-4430-1

krysta.anderson@gleanerjm.com

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