🚀 Open in 30 Days: Start a Business in Jamaica · Lesson 3 of 8 · free
Opening a business account in Jamaica, separating the money from day one, the pricing floor, and why a deposit is the handshake.
⏱ About 15 minutes · read it, then do the "Do this now" steps before the next lesson
Take the COJ certificate, TRN, your ID and proof of address to the bank and open an account in the business name. Every sale goes in; every business expense comes out; you pay yourself from it on a set day. Mixing business and personal money is how people "make money all year" and have nothing in December.
Price = your cost (materials, transport, time at a fair hourly rate) + the margin that keeps the business alive. Write out the true cost of one job or one product, then price above it. Under-pricing to "get customers" gets you tired customers who leave when you raise the price. Charge a fair price from day one and explain what they get for it.
For made-to-order work, bookings and anything you buy materials for, take a deposit (30–50%) before you start. A deposit is the handshake — it filters time-wasters and funds the job. Give a receipt for every payment: a WhatsApp message with amount, date, what for, and your business name counts if nothing else does. A numbered receipt book or a simple invoice tool is better.
Account opened, first deposit rule written, and a receipt method chosen, all by day 10.
List the business free in the Jamaica Business Directory the day you open — reviewed by a person, live in a day. When the first ten are paying, a turnkey website is J$35,000 to build, with the software, hosting and support on a plan from J$4,500/mo.