Karl Samuda, minister of industry, commerce and investment, says there is a need to further develop the micro and small business sector of Jamaica as this is the cornerstone on which the nation can build a sound economy.

Speaking yesterday during the 50th anniversary church service of Courts (Jamaica) Ltd, held at the Stella Maris Church on Shortwood Road, St Andrew, Samuda said the small business sector contributed 90 per cent of the total goods produced in the country. "It also contributes to the majority of the employment," he said.

Samuda further noted that for the last 50 years, Courts has shown that it is possible to start from very small and grow into a massive multinational organisation.

Local manufacturers

He recalled that when the organisation started out in 1959, 80 per cent of the goods it sold were imported, while only 20 per cent were locally made. However, at present, 65 per cent of the goods sold at the furniture store are made by local craftsmen. Today, there are more than 20 local manufacturers who benefit directly from Courts furniture purchases.

Hayden Singh, managing director of Courts, said the organisation has come a very long way since it opened its first store on Slipe Road in Kingston with just 10 employees half a century ago.

The multimillion-dollar furniture and appliance retailer now boasts some 29 stores in Jamaica with more than 900 employees, 93 stores in 11 Caribbean jurisdictions and 450 across Central and Latin America.

Singh also thanked Jamaicans for their continued support over the years.