Notes to Consolidated Financial Statements - Barbados Investment ...

were in addition able to obtain equipment grants through the Turn
Around Management Programme.
A number of community outreach programmes aimed at developing
and nurturing an entrepreneurial culture were also initiated. BIDC
personnel made presentations to local schools, churches and youth
groups. In addition, a special session was hosted with the Rural
Development Commission (RDC) and another was executed for staff
of an organization undergoing restructuring. Through the Schools
Business Plan Competition the Corporation continued to work with
secondary schools to stimulate their interest in entrepreneurship.
CRAFT DEVELOPMENT
Emphasis was placed on the advancement of the craft sector during
the year. The Pelican Craft Centre was the main hub of marketing
activities and special events undertaken to put local craft in the
spotlight. In addition to the Pelican Las’ Lap and the Nova Culture
Fest, an exhibition featuring the work of craft persons trained by the
BIDC in textiles, jewelry and glass works was hosted.
Additional personnel were also dedicated to the Centre. One staffer
was recruited and another reassigned to assist in executing initiatives
for the craft sector and improving the efficiency of the Centre as a
market facility. One such initiative, “Pelican on the Road”, was launched
to take craft persons out of their work environment to potential
customers. The “Pelican Half Hour” radio show was introduced to
give craft persons an opportunity to showcase their products.
Substantial resources were directed to training. A special basic
woodwork workshop for women was hosted and attracted 45
participants. Two workshops in basic leather crafts were conducted for
24 persons and another in basic pottery was offered for 12 persons.
Four persons also received training under the Aid to Artisan initiative
in New York as part of the Market Readiness Programme. They were
drawn from the textiles, jewelry, botanicals, and fashion sub-sectors.
One person also received training in California in glass works.
Apart from the joint initiatives with the Caribbean Export and
Development Agency (CEDA) and the North South Project of Canada
which were aimed at improving product design and development
among craft persons, the Corporation was invited by CEDA to
participate in a Cariforum working group on product design. BIDC
also collaborated with CEDA to facilitate the participation of nine
(9) craft persons in the Caribbean Gift and Craft Show. Assistance
in gaining product exposure was offered to six (6) clients who were
sponsored to attend the Barbados Beauty and Fashion Market.
The Corporation’s Craft Development Unit also facilitated technical
assistance in packaging and labeling, management and design for
crafts persons.
BUSINESS DEVELOPMENT
Export promotion was not a core function of the Corporation during
the year. The BIDC however continued to champion the national effort
aimed at promoting the export of Barbadian goods and services, while
the plans to introduce a dedicated national export promotion agency
were being advanced. The period under review was therefore marked
by reduced activity in key export markets.
During the fiscal period, total domestic exports, exclusive of Crude
Petroleum, were valued at BDS$427.0 million. This represented a
decrease of 1.0% over the corresponding figure for 2007/08. This
decrease was due largely to adverse performances in domestic exports
in the categories of Inedible Crude Materials which declined 26.3%
to BDS$11.8 million; and Chemicals which fell 27.7% to BDS$58.3
million.
The Corporation’s strides in export development have been aimed
largely at (a) capacity building in terms of competitive enhancement
of medium and large enterprises, including exporters and entities
with export potential, and (b) facilitation services for special technical
BARBADOS INVESTMENT AND DEVELOPMENT CORPORATION ANNUAL REPORT 2009 17