said the Cat. - Barbados Investment and Development Corporation
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PG. 15<br />
Full Speed Ahead<br />
4 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
The BARBADOS BUSINESS CATALYST<br />
is published quarterly by <strong>the</strong> Research, Information<br />
<strong>and</strong> Design Services Division of <strong>the</strong> <strong>Barbados</strong><br />
<strong>Investment</strong> & <strong>Development</strong> <strong>Corporation</strong>.<br />
It offers information <strong>and</strong> advice on trade <strong>and</strong><br />
commercial issues to <strong>the</strong> business community.<br />
Information contained herein may be reproduced<br />
if accredited to <strong>the</strong> BIDC. Items of interest to<br />
local manufacturers, exporters, entrepreneurs <strong>and</strong><br />
potential investors are welcome.<br />
Editor:<br />
Jane Brome, Email: jbrome@bidc.org<br />
Editorial Team:<br />
Fern Lewis, Email: flewis@bidc.org<br />
Disclaimer:<br />
Some of <strong>the</strong> views expressed in this publication are <strong>the</strong> views of <strong>the</strong> writers <strong>and</strong> not necessarily<br />
those of <strong>the</strong> BIDC. © 2011 BIDC.<br />
Printed By:<br />
COT Caribbean Graphics, #16 Newton Industrial Estate, Christ Church.<br />
Tel (246) 420 8550 • Fax (246) 420 8555 Email: sales@cot.com.bb<br />
Contents<br />
Design & Layout:<br />
G&A Communications Inc. Cnr. Harts Gaps &<br />
Hastings Main Road, Christ Church.<br />
Tel: (246) 437-2214; Fax: (246) 228-5204;<br />
E-mail: info@gadesign.com.bb<br />
July - September 2011<br />
Volume 7 #4<br />
Editor’s Desk - Trade Shows, Expos & Conferences<br />
CEO’s Desk<br />
Making Footprints Around The Globe<br />
Challenges of Entrepreneurship<br />
Pride In Industry<br />
Full Speed Ahead<br />
Animation Comes Alive<br />
Winning Designs<br />
Dream Imagine Believe<br />
Carving Out a Niche<br />
Food for Thought<br />
Skill-full or Empty?<br />
The <strong>Barbados</strong> Competitiveness Progremme<br />
Factoring Programme for SMEs<br />
BBC Notebook<br />
EcoScope<br />
When In...Belize<br />
TradeScope<br />
Manufacts<br />
PG. 14 PG. 23<br />
Pride In Industry Carving Out a Niche<br />
5<br />
6 - 9<br />
10 -11<br />
12 -13<br />
14<br />
16 - 17<br />
18 - 19<br />
20<br />
21 - 22<br />
23<br />
24 -25<br />
26<br />
27<br />
28<br />
29<br />
31<br />
32<br />
33<br />
34 - 35<br />
PG. 24 PG. 28<br />
Food for Thought Government Launches<br />
Factoring Programme For<br />
SMEs
Editor’s Desk<br />
By Jane L. Brome<br />
It has become increasingly evident<br />
that diversification, new sector <strong>and</strong><br />
product development are essential<br />
if <strong>Barbados</strong> is indeed to take<br />
advantage of new <strong>and</strong> emerging<br />
opportunities <strong>and</strong> is to secure its<br />
place in international trade.<br />
Arguments for greater self-enterprise <strong>and</strong> innovation have often<br />
been articulated in <strong>the</strong> push to see <strong>Barbados</strong> transcend traditional<br />
boundaries.<br />
This issue will focus on entrepreneurship <strong>and</strong> its role in making<br />
<strong>Barbados</strong> a producing, exporting nation. We are highlighting<br />
inspiring stories of thriving companies like auto manufacturer,<br />
L&N Incorporated <strong>and</strong> animation specialist, West Learner. This<br />
edition will also cover some of <strong>the</strong> key challenges confronting<br />
entrepreneurs. Newly appointed Director of Entrepreneurial<br />
Trade Shows, Expos <strong>and</strong> Conferences<br />
Sir Winston Scott Memorial Lecture Monday, November 21, 2011<br />
Prof. <strong>the</strong> Hon. Cardinal Warde, a Barbadian physics professor at <strong>the</strong><br />
Massachusetts Institute of Technology (MIT), will deliver <strong>the</strong> 36th Sir Winston<br />
Scott Memorial Lecture at <strong>the</strong> Frank COLLYMORE Hall. The title of his lecture<br />
is “Science, Technology <strong>and</strong> Business Education Reform for <strong>the</strong> Caribbean”.<br />
CONTACT: http://www.centralbank.org.bb<br />
6th annual Caribbean Conference on Comprehensive Disaster<br />
Management, 5-9 December, 2011<br />
The Annual Caribbean Conference on Comprehensive Disaster Management<br />
is <strong>the</strong> region’s premier event on disaster risk management. Organized by <strong>the</strong><br />
Coordinating Unit of <strong>the</strong> Caribbean Disaster Emergency Management Agency<br />
(CDEMA), <strong>the</strong> Conference is <strong>the</strong> region’s largest ga<strong>the</strong>ring of professionals<br />
in <strong>the</strong> fields of disaster management <strong>and</strong> professionals from sectoral <strong>and</strong><br />
<strong>the</strong>matic fields who have specific responsibilities in this area. Attending this<br />
event scheduled for <strong>the</strong> Hyatt Regency Trinidad, is an excellent opportunity<br />
<strong>Development</strong> here at <strong>the</strong> BIDC, Mr. Michael Bynoe, will exp<strong>and</strong><br />
on <strong>the</strong>se as well as share his vision for <strong>the</strong> sector.<br />
The spotlight is also shone on exporting, featuring <strong>Barbados</strong>’ top<br />
export companies, its products <strong>and</strong> markets. In keeping with <strong>the</strong><br />
<strong>the</strong>me, Enterprise <strong>Barbados</strong>, Making Footprints Around<br />
<strong>the</strong> Globe, we share with you some of <strong>the</strong> market entry<br />
strategies engaged by <strong>the</strong>se companies in <strong>the</strong> hope of inspiring<br />
more to follow <strong>the</strong>ir lead.<br />
The importance of niche marketing <strong>and</strong> meeting international<br />
st<strong>and</strong>ards requirements, particularly as <strong>the</strong>y relate to food safety<br />
<strong>and</strong> quality are also exp<strong>and</strong>ed on in this edition.<br />
And as <strong>the</strong> BIDC bids farewell to CEO Mr. Wilbur Basil Lavine,<br />
we share with readers his parting words, marked by lessons<br />
learnt <strong>and</strong> hopes for <strong>the</strong> future.<br />
to improve disaster risk management awareness <strong>and</strong> exchange information on<br />
good practices, while building stronger professional networks.<br />
CONTACT: http://www.cdema.org<br />
Caribbean Marketplace 2012, January 22-24, 2012<br />
This event is open to suppliers, buyers <strong>and</strong> marketing companies targeting<br />
<strong>the</strong> hospitality sector. Scheduled for <strong>the</strong> Atlantis Paradise Isl<strong>and</strong>, Bahamas,<br />
registration is now open.<br />
CONTACT: http://www.caribbeanhotel<strong>and</strong>tourism.com<br />
BIDC Exporters Conference, Tuesday, February 21, 2011.<br />
This inaugural event under <strong>the</strong> <strong>the</strong>me “Engaging <strong>the</strong> World” will focus on <strong>the</strong><br />
requirements of embracing <strong>the</strong> export challenge. Scheduled for <strong>the</strong> Lloyd<br />
Erskine S<strong>and</strong>iford Centre, fur<strong>the</strong>r details will be coming soon.<br />
CONTACT bidc@bidc.org<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
5
CEO’s Desk<br />
CEO<br />
Signs Off<br />
Wilbur “Basil” Lavine retired as CEO of <strong>the</strong><br />
BIDC at <strong>the</strong> end of September. He reflects<br />
on time spent <strong>and</strong> <strong>the</strong> way forward for <strong>the</strong><br />
<strong>Corporation</strong>.<br />
Q.In <strong>the</strong> time that you have led <strong>the</strong> <strong>Corporation</strong>,<br />
would you say you have achieved much of what you<br />
had intended?<br />
A. I would say a reasonable amount given <strong>the</strong> prevailing climate.<br />
I assumed <strong>the</strong> leadership of <strong>the</strong> <strong>Corporation</strong> just as <strong>the</strong> recession<br />
took hold <strong>and</strong> amid several challenges. I brought a vision which<br />
I am led to believe had <strong>the</strong> approbation of <strong>the</strong> management<br />
<strong>and</strong> staff. Corporate <strong>and</strong> divisional goals <strong>and</strong> plans were <strong>the</strong>n<br />
developed. Initially, we were aiming for sector growth in <strong>the</strong><br />
industrial <strong>and</strong> small business sectors. But certain critical success<br />
factors (assumptions), which included <strong>the</strong> availability of adequate<br />
finance, favourable investment climate, etc., failed to hold <strong>and</strong> in<br />
consequence, some objectives had to be modified or ab<strong>and</strong>oned<br />
in <strong>the</strong> face of a new policy orientation which sought, inter alia,<br />
to fur<strong>the</strong>r <strong>the</strong> stabilization of <strong>the</strong> sectors, rescuing companies<br />
in difficulties, saving jobs, etc., by way of a Rent Relief Policy<br />
<strong>and</strong> o<strong>the</strong>r measures, through which company closures were<br />
minimized. Despite <strong>the</strong> difficulties, our export drive was also<br />
kept up <strong>and</strong> growth was experienced in some areas, such as<br />
6 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
exports of fine foods to <strong>the</strong> United Kingdom market. During my<br />
term as CEO we also completed <strong>the</strong> Newton Business Park, a<br />
major project which had presented many challenges.<br />
Q. What would you say were some of your greatest<br />
accomplishments?<br />
A. I believe that staff should be encouraged to add value to<br />
<strong>the</strong>mselves so that <strong>the</strong>y could also add value to <strong>the</strong> institution <strong>and</strong><br />
to <strong>the</strong> clients <strong>the</strong>y serve. And so for me, it was very important to<br />
make a positive difference in <strong>the</strong> lives of staff, encouraging <strong>the</strong>m<br />
to upgrade <strong>the</strong>ir skills <strong>and</strong> to seek career advancement. I believe<br />
I have been able to do some of that, even though not all of what<br />
I intended. I have seen secretarial staff <strong>and</strong> o<strong>the</strong>rs upgrading <strong>the</strong>ir<br />
qualifications <strong>and</strong> taking positions of much greater responsibility.<br />
This pleased me very much.<br />
During my tenure at <strong>the</strong> <strong>Corporation</strong>, I was also able, with<br />
<strong>the</strong> support of <strong>the</strong> managers <strong>and</strong> staff, to effect <strong>the</strong> design <strong>and</strong><br />
implementation of some systems <strong>and</strong> policies to meet stated<br />
objectives. Specific examples include:
Basil Lavine attending an EPA seminar<br />
<strong>the</strong> coordinating of an exhibition <strong>and</strong> <strong>the</strong> production of a<br />
GIS video in association with Mr. Keith Richards of <strong>Barbados</strong><br />
Light & Power as co-chair of <strong>the</strong> Technical Advisory Panel<br />
for Technology Transfer, during <strong>the</strong> United Nations Global<br />
Conference on Sustainable <strong>Development</strong> held here in 1994;<br />
my contributing to national sustainable development<br />
policy as <strong>the</strong> <strong>Corporation</strong>’s representative on <strong>the</strong> National<br />
Commission for Sustainable <strong>Development</strong> under <strong>the</strong><br />
chairmanship of <strong>the</strong> late Professor Oliver Headley;<br />
<strong>the</strong> establishment of <strong>the</strong> Information Technology<br />
Department <strong>and</strong> <strong>the</strong> development of <strong>the</strong> <strong>Corporation</strong>’s<br />
computer network, involving all <strong>the</strong> overseas offices that<br />
were <strong>the</strong>n part of <strong>the</strong> <strong>Corporation</strong>, toge<strong>the</strong>r with <strong>the</strong><br />
Internet capability;<br />
<strong>the</strong> changing of <strong>the</strong> concept of a library to that of a<br />
computer-based Information Services Centre;<br />
also from <strong>the</strong> concept of a registry to that of a computerbased<br />
Records Management Centre;<br />
<strong>the</strong> general upgrading of <strong>the</strong> information collection <strong>and</strong><br />
reporting systems <strong>and</strong> <strong>the</strong> quality of analysis within <strong>the</strong><br />
Research Division;<br />
<strong>the</strong> designing of <strong>the</strong> Special Technical Assistance Programme<br />
(STAP) <strong>and</strong> <strong>the</strong> Turnaround Management sub-programme;<br />
upgrading <strong>the</strong> Technical Assistance Programme (TAP), with<br />
<strong>the</strong> assistance of <strong>the</strong> National Productivity Council laying <strong>the</strong><br />
foundation of <strong>the</strong> Key Performance Indicator (KPI)-based<br />
Incentive Scheme;<br />
implementation of an operational framework that has<br />
resulted in <strong>the</strong> timely presentation of <strong>the</strong> <strong>Corporation</strong>’s<br />
Annual Report each year;<br />
Mr. Lavine leading a BIDC strategic planning session<br />
CEO’s Desk<br />
<strong>and</strong> <strong>the</strong> benchmarking of <strong>the</strong> knowledge management system<br />
of <strong>the</strong> <strong>Corporation</strong> against that of a major international service<br />
institution in 2000.<br />
In 1998, I was <strong>the</strong> <strong>Corporation</strong>’s representative among many<br />
very senior public <strong>and</strong> private sector Caribbean officials on<br />
<strong>the</strong> CARICOM Mission to Sou<strong>the</strong>rn Africa. I was <strong>the</strong> only<br />
<strong>Barbados</strong> public sector officer on that mission <strong>and</strong> I filed a<br />
report on <strong>the</strong> mission.<br />
With reference to current areas of focus for promoting<br />
sustainable development: Initiating in 2009/2010, <strong>the</strong><br />
development of a BIDC Green Policy <strong>and</strong> a Green Industrial<br />
Sector <strong>Development</strong> Plan focusing on green energy, etc., <strong>and</strong> <strong>the</strong><br />
establishment of a think tank, namely <strong>the</strong> Science, Technology<br />
<strong>and</strong> Innovation Committee – <strong>the</strong> Renewable Energy Forum,<br />
for advancing this cause. As such, it took a special interest in<br />
renewable energy <strong>and</strong> had been engaging a company working on<br />
a pilot project on solar energy. The Renewable Energy Forum<br />
was placed within this framework firstly, so as not to contribute<br />
to an unnecessary growth in <strong>the</strong> number of committees, <strong>and</strong><br />
also, to maintain <strong>the</strong> natural nexus with <strong>the</strong> o<strong>the</strong>r disciplines.<br />
The Committee, cross-divisional, was also to discuss business<br />
development issues centering on any of <strong>the</strong> disciplines within its<br />
ambit <strong>and</strong> as a base for interacting with individual companies,<br />
o<strong>the</strong>r stakeholders <strong>and</strong> <strong>the</strong> National Council for Science <strong>and</strong><br />
Technology. The relationship with <strong>the</strong> National Council for<br />
Science <strong>and</strong> Technology was considered very important, since<br />
that institution should also have a leading role to play in <strong>the</strong><br />
fostering of an innovation culture <strong>and</strong> fur<strong>the</strong>ring <strong>the</strong> development<br />
of science <strong>and</strong> technology-based industries in <strong>Barbados</strong>.<br />
Q. Given <strong>the</strong> prevailing corporate climate, what would be<br />
your prescription for assisting <strong>the</strong> local productive sector<br />
in coping?<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
7
CEO’s Desk<br />
A. Since about 2001, we have been living in an age of<br />
increased turbulence <strong>and</strong> chaos, as <strong>the</strong> worlds of finance,<br />
economics, politics, <strong>the</strong> civil society <strong>and</strong> <strong>the</strong> establishment, <strong>the</strong><br />
environment, <strong>and</strong> matter <strong>and</strong> energy appear to be in collision,<br />
within <strong>the</strong>mselves <strong>and</strong> some with one ano<strong>the</strong>r; <strong>the</strong> earth itself<br />
seeming to be in upheaval. There has been disaster after disaster<br />
with major economic fallout worldwide, <strong>the</strong> negative effects of<br />
which have been propagated at almost <strong>the</strong> speed of light along<br />
technology’s super highway of connectivity <strong>and</strong> through o<strong>the</strong>r<br />
international networks.<br />
The implications for <strong>the</strong> local economy have been profound<br />
<strong>and</strong> problematic, with <strong>the</strong> local corporate climate in a state of<br />
unprecedented flux, augmented also in part by local deficiencies.<br />
Coping <strong>and</strong> continuing viability will require companies keeping<br />
on top of developments (economic, financial, socio-political<br />
<strong>and</strong> technological), being efficient, responsive, collaborative<br />
with stakeholders, being receptive to new ideas <strong>and</strong> forever<br />
seeking new pathways. This will not be an easy task. The future<br />
prospects will also depend on <strong>the</strong> devising of prudent macroeconomic<br />
policies <strong>and</strong> upon our success in exhibiting strong,<br />
insightful <strong>and</strong> innovative leadership in guiding corporate renewal,<br />
within <strong>and</strong> without, in this period of turbulent change. This<br />
matter was touched on in my article “Discontinuous Change,<br />
Corporate Renewal <strong>and</strong> Leadership” published in our corporate<br />
magazine <strong>the</strong> <strong>Barbados</strong> Business <strong>Cat</strong>alyst.<br />
Q. With regards to <strong>the</strong> <strong>Corporation</strong>’s work, how might<br />
<strong>the</strong> BIDC be better able to assist companies?<br />
A. Firstly, by not being all things to all people; by focusing its<br />
scarce resources on a narrower range of activities <strong>and</strong> doing<br />
<strong>the</strong>m as well as can be.<br />
8 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
Bobby McKay <strong>and</strong> Mr. Lavine at BMEX 2009<br />
By concentrating on those projects best able to add value,<br />
assisting companies to do things differently <strong>and</strong> to do different<br />
things.<br />
Given <strong>the</strong> substantial changes in <strong>the</strong> environment since its<br />
reorganization in 1992, <strong>the</strong> <strong>Corporation</strong> needs to re-invent<br />
itself for meeting <strong>the</strong> new challenges <strong>and</strong> for promoting<br />
entrepreneurship based on <strong>the</strong> drivers of <strong>the</strong> New Economy,<br />
science, technology <strong>and</strong> innovation, or it will run <strong>the</strong> risk of<br />
being marginalized as o<strong>the</strong>r organizations build up business<br />
development capabilities in <strong>the</strong>se driver areas <strong>and</strong> seize <strong>the</strong><br />
initiative. The <strong>Corporation</strong> has long been <strong>the</strong> premier business<br />
development agency in <strong>Barbados</strong> <strong>and</strong> needs to continue being<br />
seen as playing an effective role in <strong>the</strong>se new areas as a leader<br />
organization.<br />
The BIDC has, for a long time, been in a position where it tried<br />
to be all things to all people. It is now facing an acute scarcity<br />
of resources. Despite this so far, <strong>the</strong> <strong>Corporation</strong> has been<br />
providing rent relief <strong>and</strong> taking o<strong>the</strong>r measures in what was<br />
designed to be a time-bound stabilization effort to help arrest<br />
<strong>the</strong> slide. But this has been ra<strong>the</strong>r costly. Now would be <strong>the</strong> time<br />
for <strong>the</strong> organization to encourage innovation within <strong>and</strong> without,<br />
<strong>and</strong> more in-depth research <strong>and</strong> analysis for becoming more<br />
focused in its purpose. Now is <strong>the</strong> time for corporate renewal.<br />
The Strategic <strong>and</strong> Action Plan for 2011/2012 embodies this<br />
philosophy of corporate renewal.<br />
Q. What in your opinion are some of <strong>the</strong> biggest<br />
challenges confronting <strong>the</strong> <strong>Corporation</strong> <strong>and</strong> how might<br />
<strong>the</strong>se be overcome?<br />
A. There are several but I will mention three which I believe<br />
are among <strong>the</strong> most strategic at this time<br />
Remaining in <strong>the</strong> forefront of <strong>the</strong> development process as <strong>the</strong><br />
premiere business development agency.<br />
Keeping focused on its m<strong>and</strong>ate <strong>and</strong> asserting itself<br />
Being always relevant.<br />
Managing for <strong>the</strong> present while leading change for future<br />
growth <strong>and</strong> sustainability.<br />
Being a model of efficiency as required by its role in promoting<br />
<strong>the</strong> Green Economy, especially in <strong>the</strong> face of prevailing<br />
scarcities.<br />
Mobilising resources <strong>and</strong> ensuring that <strong>the</strong>y are mostly directed<br />
towards activities likely to yield significant positive socioeconomic<br />
returns, taking possible externalities into account<br />
by relevant in-depth analysis <strong>and</strong> appraisal consistent with <strong>the</strong><br />
objectives of <strong>the</strong> green economy, especially for larger projects.<br />
Micro projects need not be subjected to this analytical rigour.<br />
In this age of turbulence <strong>and</strong> chaotic transition, it is easy to<br />
get caught up in activities which though important, could
cause a diversion from <strong>the</strong> m<strong>and</strong>ate <strong>and</strong> raison d‘être of <strong>the</strong><br />
<strong>Corporation</strong>, that of promoting sustainable industrial business<br />
development. The danger in this is that at some future point<br />
in time <strong>the</strong> credibility, relevance <strong>and</strong> future of <strong>the</strong> institution<br />
could be questioned in relation to its m<strong>and</strong>ate as stated in <strong>the</strong><br />
Act governing its establishment <strong>and</strong> operation. As <strong>the</strong> premier<br />
business development agency in <strong>Barbados</strong>, <strong>the</strong> <strong>Corporation</strong> is not<br />
just an institution for implementing policy, but also one to help<br />
point <strong>the</strong> way forward in policy formulation in industrial business<br />
development.<br />
The <strong>Corporation</strong> in its traditional mode has always had a close<br />
relationship with traditional sectors − crafts, garment, furniture,<br />
food <strong>and</strong> beverages manufacturing, etc., <strong>and</strong> it is proud of this<br />
continuing relationship. However, in looking forward it will be<br />
recognized that <strong>the</strong>re is a need to foster <strong>the</strong> development <strong>and</strong><br />
growth of new <strong>and</strong> emerging sectors, while still continuing to<br />
support <strong>the</strong> traditional sectors, fostering innovations in this latter<br />
group as well. It is not one or <strong>the</strong> o<strong>the</strong>r, but both simultaneously.<br />
The leadership must seek to encourage new sector exploration,<br />
especially in non-traditional areas based on ideas that could<br />
give rise to what may be called disruptive innovations. The<br />
promotion of innovation labs <strong>and</strong> <strong>the</strong> general encouragement<br />
of experimentation is, in my view, among viable approaches for<br />
moving forward.<br />
The challenge is really a balancing act of managing <strong>the</strong> present,<br />
while leading change for a future in a world which has seen<br />
economic structures incessantly revolutionized from within,<br />
by <strong>the</strong> promotion of entrepreneurship based on science <strong>and</strong><br />
technology <strong>and</strong> innovation. With <strong>the</strong> acute scarcity of available<br />
resources this could mean giving up <strong>the</strong> pursuit of some shortterm<br />
transient objectives for more sustainable returns in <strong>the</strong><br />
future. This may not be an attractive prospect.<br />
The Green Economic movement is in full swing as efforts to<br />
promote sustainable growth <strong>and</strong> development are gaining<br />
momentum in <strong>the</strong> face of an increased environmental awareness,<br />
in <strong>the</strong> broadest sense. Efficiency of resource use is among <strong>the</strong><br />
important objectives in this campaign. The present scarcity of<br />
resources has highlighted <strong>the</strong> need for increased efficiency in<br />
<strong>Barbados</strong>. The <strong>Corporation</strong> will be required as never before to<br />
grapple with <strong>the</strong> challenge of mobilizing resources on its own,<br />
CEO’s Desk<br />
some possibly from divestments. From a national economic<br />
perspective it will <strong>the</strong>refore be important for such resources to<br />
be allocated for <strong>the</strong> highest economic returns.<br />
Q. What has been most memorable about your tenure at<br />
<strong>the</strong> BIDC?<br />
A. I have, while at <strong>the</strong> BIDC, been involved in some very<br />
interesting activities, met some very influential people <strong>and</strong> have<br />
forged great relationships at home <strong>and</strong> abroad. But above all,<br />
is that relationship that I have developed with staff at all levels<br />
of <strong>the</strong> <strong>Corporation</strong>. I would like to believe that I showed my<br />
respect for each <strong>and</strong> everyone <strong>and</strong> that at no time did anyone<br />
feel slighted. If it did happen, I would wish to assure <strong>the</strong>m that it<br />
was not intentional. I will always remember <strong>the</strong> little meetings I<br />
had with individual staff members during my almost daily “Good<br />
Morning” rounds; those little chats through which I got to know<br />
my staff better. It became to me a very important event in my<br />
day, <strong>the</strong> little discussions through which I got to share my little<br />
bits of knowledge <strong>and</strong> also to learn from staff members who<br />
were often specialists in <strong>the</strong>ir own fields. We must be mindful<br />
that very much of what we are able to achieve, depends on <strong>the</strong><br />
people around us <strong>and</strong> <strong>the</strong> strength of our relationships. It’s never<br />
a situation where you can honestly take all <strong>the</strong> credit for yourself.<br />
Mr. Lavine meeting Minister David Estwick <strong>and</strong> PS Bentley Gibbs at <strong>the</strong> renewable energy forum<br />
Q. What thoughts would you like to leave with <strong>the</strong><br />
<strong>Corporation</strong> <strong>and</strong> its stakeholders?<br />
We’re in an environment where knowledge is growing<br />
rapidly <strong>and</strong> technology is advancing at an ever increasing rate.<br />
Yesterday’s successes were yesterday’s <strong>and</strong> not today’s. We<br />
should not dwell idly on past successes, as <strong>the</strong>y could <strong>the</strong>n<br />
become sources of weakness. The methodologies of today may<br />
have no relevance in 10 years time, not ignoring <strong>the</strong> fact that<br />
tomorrow’s fruit will be borne on trees grown from seeds sown<br />
today. We live in a world of constant change so we must be<br />
open <strong>and</strong> pursue continuous learning <strong>and</strong> innovation. We must<br />
be adaptable <strong>and</strong> continue to seek input from as many sources as<br />
possible. We can never do it all on our own.<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
9
Barbadian Globetrotters<br />
Making footprints<br />
Around<br />
<strong>the</strong> Globe By<br />
Barbadian export values were registered at $472.4 million at <strong>the</strong> end of 2010. This was up from $439.5 million in 2009 <strong>and</strong><br />
$526.3 million in 2008. Between 2001 <strong>and</strong> 2008, merch<strong>and</strong>ise export sales increased by 7% annually to exp<strong>and</strong> from $352.7<br />
million to $526.3 million. Projections are that exports volumes in 2011 are on track to exceed <strong>the</strong> 2010 performance, coming<br />
in at $374.1 million at <strong>the</strong> end of September 2011. This compares to $347.7 million at <strong>the</strong> end of September 2010.<br />
Barbadian goods are currently being exported to 103 markets around <strong>the</strong> world. An analysis of trade volumes at <strong>the</strong> end of July 2011<br />
indicates that CARICOM remained <strong>Barbados</strong>’ largest export market accounting for 36.0% or BDS $65.8 million of total domestic<br />
exports. <strong>Barbados</strong>’ shipments to CARICOM when compared to shipments in <strong>the</strong> country’s overall exports have however been on <strong>the</strong><br />
decline while exports to o<strong>the</strong>r territories have been increasing. Exports to <strong>the</strong> US grew to <strong>the</strong> extent that 19.3% of <strong>Barbados</strong>’ foreign<br />
shipments are headed <strong>the</strong>re. Trade with <strong>the</strong> EU amounted to 30.47% <strong>and</strong> that to Canada 2.35%.<br />
<strong>Barbados</strong>’ main export products include: rum, pharmaceuticals, sugar, cement, margarine, printed labels, sweet biscuits, margarine,<br />
wheat flour, aerated beverages, wire wound resistors, aluminum <strong>and</strong> steel food packaging, insecticides, intra-ocular lenses, paints,<br />
windows <strong>and</strong> doors, prefabricated building structures, natural asphalt <strong>and</strong> sails.<br />
<strong>Barbados</strong>’ top export companies are noted below:<br />
CANADADRUGS .COM<br />
OF BARBADOS LTD<br />
MOUNT GAY<br />
DISTILLERIES LIMITED<br />
THE WEST INDIES RUM<br />
DISTILLERY LTD<br />
These are <strong>the</strong> Barbadian companies making footprints around<br />
<strong>the</strong> globe.<br />
A recent analysis by <strong>the</strong> <strong>Barbados</strong> Private Sector Trade Team<br />
shows some important common characteristics in <strong>the</strong> export<br />
strategy of some of <strong>the</strong>se companies. These include <strong>the</strong><br />
following:<br />
They actively sought export opportunities as opposed to<br />
depending on o<strong>the</strong>r sources to point out <strong>the</strong>m out;<br />
They never considered <strong>the</strong>mselves to be too small to seize<br />
opportunities;<br />
They made use of a number of options to streng<strong>the</strong>n <strong>the</strong>ir<br />
businesses which ranged from entering <strong>the</strong>ir firms into<br />
competitions which gave <strong>the</strong>m access to additional capital to<br />
accessing <strong>the</strong> more user-friendly local business support funds<br />
<strong>and</strong> schemes;<br />
10 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
BARBADOS’ TOP EXPORT COMPANIES (DECEMBER 2010)<br />
TT ELECTRONICS<br />
LTD.<br />
CARIBBEAN LABEL<br />
CRAFTS LTD.<br />
MCBRIDE<br />
(CARIBBEAN) LIMITED<br />
THE WEST INDIA<br />
BISCUIT CO. LTD.<br />
BARBADOS DAIRY<br />
INDUSTRIES LTD<br />
LENSTEC BARBADOS<br />
INC<br />
ARAWAK CEMENT COMPANY<br />
LIMITED<br />
ROBERTS MANUFACTURING<br />
CO. LTD<br />
BARBADOS AGRICULTURAL<br />
MANAGEMENT CO<br />
CARLISLE LABORATORIES<br />
LIMITED<br />
CROWN PACKAGING<br />
(BARBADOS) LIMITED<br />
BERGER PAINTS<br />
BARBADOS LIMITED<br />
Jane L Brome<br />
ORAN LIMITED<br />
R. L. SEALE &<br />
COMPANY LIMITED<br />
STRUCTURAL<br />
SYSTEMS LIMITED<br />
They utilised a range of options to gain market intelligence on<br />
potential markets, <strong>the</strong>se options included participating in trade<br />
missions<br />
They were not afraid to approach government officials or<br />
o<strong>the</strong>r business support agencies in <strong>the</strong> export market to<br />
determine how <strong>the</strong>y could best enter <strong>the</strong> markets <strong>and</strong> <strong>the</strong>y<br />
fur<strong>the</strong>r used such interfaces to engage in aggressive marketing;<br />
They were persistent- <strong>the</strong>y were not deterred by initial<br />
negative responses to <strong>the</strong>ir attempts to enter export markets;<br />
They were not wedded to one particular type of market<br />
entry- if <strong>the</strong>y could not export directly, <strong>the</strong>n <strong>the</strong>y considered<br />
using o<strong>the</strong>r vehicles to trade such as joint ventures;<br />
They made it <strong>the</strong>ir business to underst<strong>and</strong> <strong>the</strong> rudiments of<br />
trade as <strong>the</strong>y pertain to <strong>the</strong>ir particular operations;
They voluntarily committed <strong>the</strong>mselves to ensuring that <strong>the</strong>ir<br />
operations complied with internationally recognised st<strong>and</strong>ards;<br />
<strong>and</strong> above all, <strong>the</strong>y had a hunger to succeed.<br />
Analyses suggest that <strong>Barbados</strong>’ exports are not adequately<br />
diversified both in terms of <strong>the</strong> products, services exported, <strong>and</strong><br />
<strong>the</strong> markets which are serviced. This suggests a need for more<br />
companies to emulate <strong>the</strong> current export leaders. Any company<br />
with a product or service can export, or at least attempt to<br />
export. But success is far from guaranteed.<br />
At <strong>the</strong> best of times exporting can be a complex <strong>and</strong> challenging<br />
process. Yet, when it is approached with careful deliberation,<br />
exporting offers you opportunities for growth, increased sales<br />
<strong>and</strong> diversified markets. A marketable product or service is<br />
only <strong>the</strong> beginning. Exporting takes time <strong>and</strong> effort. It also takes<br />
resources <strong>and</strong> a strong commitment to compete beyond your<br />
current borders.<br />
For companies that have made exporting part of <strong>the</strong>ir long-term<br />
growth strategy, <strong>the</strong>y know some of <strong>the</strong> ups <strong>and</strong> downs for<br />
manufacturers just starting to export: concern about <strong>the</strong> language<br />
<strong>and</strong> cultural differences, not knowing where to start or how to<br />
make inroads into new markets, fear that foreign consumers<br />
won’t pay once <strong>the</strong> products leave <strong>the</strong> country.<br />
Breaking into a new export territory requires<br />
long-term commitment<br />
relationship development (distributors, local government,<br />
joint venture partners)<br />
patience (government, culture, realistic time frames <strong>and</strong><br />
budgets)<br />
a strong domestic client base to leverage (especially if<br />
internationally recognised)<br />
uniqueness of product <strong>and</strong> Intellectual property protection<br />
BARBADOS’ TOP 25 EXPORT MARKETS (JUNE 2011)<br />
Barbadian Globetrotters<br />
strong reputation/confidence in ability<br />
prior international experience or <strong>the</strong> ability to recruit<br />
experienced people<br />
in market presence – closeness to customer<br />
good interpersonal skills of staff/cultural underst<strong>and</strong>ing<br />
credibility<br />
So beyond adopting <strong>the</strong>se characteristics, it is recognised that<br />
some firms will require additional assistance.<br />
The BIDC is undertaking several initiatives to ensure export<br />
growth <strong>and</strong> diversification. The market development<br />
programme, spearheaded by <strong>the</strong> Export Promotion Division<br />
of <strong>the</strong> BIDC, is aimed at increasing Barbadian exports in <strong>the</strong><br />
international markets of <strong>the</strong> USA, Canada <strong>and</strong> <strong>the</strong> UK. The<br />
programme uses in-country market representatives <strong>and</strong> a<br />
principle importer to help introduce Barbadian products in new<br />
markets. The initiative utilizes a number of strategies including<br />
niche marketing, br<strong>and</strong>ing, certification <strong>and</strong> <strong>the</strong> attainment<br />
of quality st<strong>and</strong>ards in helping manufacturers to capitalise on<br />
potential export sales. The programme is unique in that it<br />
brings toge<strong>the</strong>r a coordinated network of resources for <strong>the</strong><br />
manufacturer, importer, wholesaler, retailer <strong>and</strong> consumer.<br />
The <strong>Corporation</strong> also plays a lead role in facilitating <strong>and</strong><br />
organizing trade missions to generate interest in Barbadian<br />
br<strong>and</strong>s, engages in an aggressive promotional <strong>and</strong> marketing<br />
programme in targeted markets <strong>and</strong> frequently facilitates training<br />
to give existing <strong>and</strong> potential exporters a firsth<strong>and</strong> look at <strong>the</strong><br />
marketing requirements for tackling targeted destinations<br />
successfully. There is also <strong>the</strong> export resadiness programme,<br />
which grooms new companies for export market entry. It is<br />
hoped that <strong>the</strong>se activities will serve as tools to drive <strong>the</strong> export<br />
effort, resulting in increased exports, penetration of nontraditional<br />
markets <strong>and</strong> improved foreign exchange earnings.<br />
MARKET EXPORTS MARKET EXPORTS<br />
($) ($)<br />
UNITED KINGDOM 66 959 600 FRANCE 4 299 489<br />
UNITED STATES 46 205 253 SURINAME 3 763 040<br />
TRINIDAD & TOB. 17 587 154 ST. KITTS/NEVIS 3 309 216<br />
ST. LUCIA 17 149 883 DOMINICA 3 125 512<br />
JAMAICA 13 840 099 BR. VIRGIN IS. 2 751 654<br />
GUYANA 13 044 472 DOMINICAN REP. 2 228 082<br />
ST.VINCENT 11 161 241 BAHAMAS 1 708 283<br />
GRENADA 7 365 734 GERMANY 1 506 055<br />
ANTIGUA 6 763 572 BELIZE 1 417 954<br />
CHINA, PEO.REP. 6 382 475 ANGUILLA 954 017<br />
CANADA 5 835 844 U.S.V I 887 141<br />
NETH. ANTILLES 4 353 248 HAITI 858 799<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011 11
Entrepreneurial <strong>Development</strong><br />
Challenges of<br />
Entrepreneurship<br />
Michael Bynoe is <strong>the</strong> new man in charge of<br />
entrepreneurial development at <strong>the</strong> <strong>Barbados</strong><br />
<strong>Investment</strong> & <strong>Development</strong> <strong>Corporation</strong>. He<br />
previously served as Manager of <strong>the</strong> BIDC’s<br />
Entrepreneurial <strong>Development</strong> Division. Bynoe<br />
took time out during his first few days in <strong>the</strong><br />
chair to share his vision with <strong>the</strong> <strong>Barbados</strong><br />
Business <strong>Cat</strong>alyst.<br />
Q. What is your assessment of <strong>the</strong> environment <strong>and</strong><br />
opportunities for entrepreneurial development?<br />
A. There are two things here I wish to address:<br />
A. When you speak of <strong>the</strong> environment for entrepreneurial<br />
development, I take it you are referring to <strong>the</strong> factors which<br />
provide an atmosphere for business.<br />
The environment for entrepreneurial development has always<br />
been a challenging one, particularly as we are experiencing<br />
now. When economic/financial downturns result in a<br />
tightening of <strong>the</strong> overall volume of credit available, businesses<br />
will face even greater financial problems that increase <strong>the</strong><br />
default risk associated with smaller companies.<br />
B. When we speak of entrepreneurial development we refer<br />
to <strong>the</strong> process of enhancing entrepreneurial skills <strong>and</strong><br />
knowledge through structured training <strong>and</strong> institution-building<br />
programmes <strong>and</strong> concentrate more on growth potential<br />
<strong>and</strong> innovation. This accelerates employment generation<br />
<strong>and</strong> economic development. Small <strong>and</strong> medium-sized<br />
enterprise (SME) development, on <strong>the</strong> o<strong>the</strong>r h<strong>and</strong>, focuses<br />
on developing <strong>the</strong> enterprise, whe<strong>the</strong>r or not it employs or<br />
12 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
is led by individuals who can be considered entrepreneurial.<br />
However, many of <strong>the</strong> lessons learnt from experiences in<br />
both types of development are similar.<br />
Q. What in your opinion are some of <strong>the</strong> major challenges<br />
confronting <strong>the</strong> SME sector?<br />
A. We have been inundated with many answers to this question<br />
from many sources. They include: poor financial positioning/<br />
raising finance; access to raw materials; no real underst<strong>and</strong>ing<br />
of <strong>the</strong> market; export difficulties; managerial inadequacies;<br />
lack of innovativeness; lack of appropriate infrastructure; <strong>and</strong><br />
lack of properly trained staff.<br />
In <strong>Barbados</strong>, <strong>the</strong> major challenge confronting <strong>the</strong> SME sector<br />
from where I st<strong>and</strong> is not so much a scarcity of finance as is so<br />
repeatedly advocated, or those o<strong>the</strong>r issues identified above,<br />
but a lack of a true entrepreneurial culture. Underst<strong>and</strong>ing<br />
<strong>the</strong> components of an entrepreneurial culture is just <strong>the</strong><br />
first step in helping businesses to underst<strong>and</strong> some of <strong>the</strong><br />
challenges that must be faced in order to overcome <strong>the</strong><br />
primary barrier to economic development. Inherently,<br />
<strong>the</strong>re is also <strong>the</strong> need to consider your readiness for<br />
entrepreneurship.<br />
Q. How could some of <strong>the</strong>se challenges be tackled?<br />
A. We need to determine from <strong>the</strong> outset whe<strong>the</strong>r <strong>the</strong><br />
real focus is entrepreneurship or self-employment, <strong>the</strong>n<br />
decide on <strong>the</strong> objectives accordingly. There is a pervasive<br />
tendency to equate entrepreneurial development with selfemployment.<br />
Many self-employed individuals in <strong>Barbados</strong>
are indeed entrepreneurs, but <strong>the</strong><br />
majority are not. Their businesses are<br />
simply microenterprises in <strong>the</strong> informal<br />
sector, with little growth potential or any<br />
particular intention to grow beyond what<br />
is considered <strong>the</strong>ir comfort zone. The<br />
promotion of self-employment is a very<br />
noble objective <strong>and</strong> certainly one that<br />
as an agency of government we cannot<br />
ignore, but it should not be confused with<br />
entrepreneurial development.<br />
Q. What are your top priorities for<br />
entrepreneurship development<br />
within <strong>the</strong> short to medium term?<br />
A. Entrepreneurship development should<br />
be about helping people start <strong>and</strong> grow<br />
dynamic businesses that provide high<br />
value-added. My priority for <strong>the</strong> short<br />
to medium term would be a selection<br />
process that attempts to identify those<br />
individuals or partnerships that have<br />
some of <strong>the</strong> key prerequisites for<br />
entrepreneurial success. Let me state<br />
very clearly here that this is not at <strong>the</strong><br />
expense of o<strong>the</strong>r players in <strong>the</strong> sector.<br />
The country needs some success<br />
stories at <strong>the</strong> moment to help move<br />
<strong>the</strong> economy forward <strong>and</strong> improve our<br />
foreign exchange position. While I am<br />
well aware that it will be argued that<br />
public funds should be spent on those<br />
who most need help, a selection process<br />
deploys limited resources where <strong>the</strong>y are<br />
most effective, to <strong>the</strong> overall benefit of<br />
<strong>the</strong> country.<br />
Q. How do <strong>the</strong>se fit in with <strong>the</strong> goal<br />
of making <strong>Barbados</strong> <strong>the</strong> No.1<br />
entrepreneurial hub by 2020?<br />
A. The process discussed above is just<br />
a minutiae to <strong>the</strong> m<strong>and</strong>ate of making<br />
<strong>Barbados</strong> <strong>the</strong> entrepreneurial hub by<br />
2020. There are a number of anomalies<br />
that should be addressed involving<br />
agencies of influence that affect <strong>the</strong> business sector. To my<br />
mind corrective procedures need to be in place from now. I<br />
cannot in all honesty say that any significant improvement is<br />
taking place.<br />
Q. What is your vision for <strong>the</strong> sector?<br />
A. Firstly, that we can develop programmes driven by a research<br />
Entrepreneurial <strong>Development</strong><br />
Michael Bynoe.<br />
component that helps aspiring entrepreneurs to recognize<br />
<strong>and</strong> design unique, innovative business opportunities, based<br />
on an analysis of our existing conditions <strong>and</strong> resources.<br />
Secondly, to develop a cadre of Business <strong>Development</strong><br />
Officers fully trained to identify risks <strong>and</strong> <strong>the</strong> factors that<br />
affect <strong>the</strong> levels of entrepreneurship, <strong>and</strong> determine <strong>the</strong><br />
likelihood of success in <strong>the</strong> sector. Thirdly, that business<br />
development services be streamlined in a way that offers <strong>the</strong><br />
entrepreneur <strong>the</strong> best possible services available.<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
13
Enterprise <strong>Barbados</strong><br />
Pride In Industry<br />
Barbadian companies have a lot of potential!<br />
This was pointed out by Minister of industry, Small<br />
Business <strong>and</strong> Rural <strong>Development</strong>, Denis Kellman, as he <strong>and</strong><br />
representatives of his Ministry <strong>and</strong> <strong>the</strong> <strong>Barbados</strong> Manufacturing<br />
Association toured Roberts Manufacturing <strong>and</strong> E. W. Wood<br />
Classics at Lower Estate, St. Michael; <strong>and</strong> Carlisle Laboratories in<br />
Warrens, St. Michael.<br />
“It is no doubt that if this country is to<br />
reverse all trends, we will have to see some<br />
‘super’ companies <strong>and</strong> <strong>the</strong> three I saw have<br />
<strong>the</strong> capabilities of doing that ...”<br />
The Industry Minister expressed satisfaction with what he saw,<br />
stating that he was “convinced that we are not only ready to take<br />
over <strong>the</strong> local market, but <strong>the</strong>se companies are ready to take<br />
over <strong>the</strong> world.”<br />
Noting that Roberts Manufacturing exported almost 70<br />
per cent of what it produced <strong>and</strong> Carlisle Laboratories also<br />
featured a significant export portfolio, Mr. Kellman observed<br />
that enterprises such as <strong>the</strong>se must receive support from<br />
Government <strong>and</strong> <strong>the</strong> public.<br />
He added that <strong>the</strong> local market may bear certain costs in order<br />
for a company to exp<strong>and</strong>, but maintained that <strong>the</strong> growth was a<br />
necessary step for increased capacity for <strong>the</strong> company.<br />
14 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
“What it means is that we will have to give more exposure to<br />
<strong>the</strong>m...if <strong>the</strong>y are lacking capacity we will have to find a way to<br />
create <strong>the</strong> additional resources so <strong>the</strong>y can get that capacity to<br />
export to <strong>the</strong> level we would like <strong>the</strong>m to.<br />
“It is no doubt that if this country is to reverse all trends, we will<br />
have to see some ‘super’ companies <strong>and</strong> <strong>the</strong> three I saw have <strong>the</strong><br />
capabilities of doing that; <strong>and</strong> if it means that we have to work<br />
with <strong>the</strong>m for <strong>the</strong> o<strong>the</strong>rs to follow, we would have to use <strong>the</strong>m<br />
as <strong>the</strong> examples,” he <strong>said</strong>.<br />
Mr. Kellman also<br />
added that sourcing of<br />
raw materials locally<br />
could be used to<br />
assist businesses with<br />
<strong>the</strong>ir endeavours <strong>and</strong><br />
noted that prowess<br />
in <strong>the</strong> export market<br />
“says a lot for <strong>the</strong>se<br />
companies <strong>and</strong> it says<br />
that we have to work<br />
with <strong>the</strong>m because<br />
<strong>the</strong>y are paying <strong>the</strong><br />
foreign cost bills for<br />
all of us. So, we have<br />
to support <strong>the</strong>m,” he<br />
asserted.<br />
Minister of Industry, Denis Kellman (left),<br />
speaking with Managing Director of Roberts<br />
Manufacturing, David Foster, during <strong>the</strong> tour.
FULL SPEEDAHEAD<br />
Norman (left) <strong>and</strong> Ricky Edwards.<br />
L<br />
& N Workshop Inc is igniting new engines of growth within<br />
a specialized niche of <strong>the</strong> local transport sector. And<br />
this company seems set to blaze a trail not only within<br />
<strong>Barbados</strong>, but also across <strong>the</strong> Caribbean.<br />
Managing Director, Norman Edwards, along with Administrative<br />
Manager, Ricky Edwards, recently took <strong>the</strong> <strong>Barbados</strong> Business<br />
<strong>Cat</strong>alyst on tour of <strong>the</strong> 18 000 square foot, Cane Garden,<br />
St. Thomas facility for a first-h<strong>and</strong> look at <strong>the</strong> state-of-<strong>the</strong>-art<br />
operation.<br />
Founded in February 2002 with Norman at <strong>the</strong> helm, L&N −<br />
specializing in <strong>the</strong> repair of minibuses <strong>and</strong> <strong>the</strong> fabrication of<br />
bodies for trucks <strong>and</strong> delivery vehicles - sought to fill <strong>the</strong> void<br />
that was created following <strong>the</strong> demise of ACME <strong>Barbados</strong> Ltd.<br />
Nine years later, <strong>the</strong> innovation <strong>and</strong> new product development<br />
thrust at <strong>the</strong> heart <strong>and</strong> soul of this company has propelled its<br />
employee roll from nine to 50 <strong>and</strong> launched a new line of vehicles<br />
especially built <strong>and</strong> customized for Barbadian roads.<br />
Trailblazing<br />
By Jane L Brome<br />
It’s just <strong>the</strong> start of a dream come true for Norman, whose<br />
ingenuity is transposed in all <strong>the</strong> L&N vehicle conceptualization<br />
<strong>and</strong> design. Moving from <strong>the</strong> construction of bodies for dry goods<br />
delivery vehicles, L&N is now manufacturing minibuses. There<br />
are currently three vehicles on <strong>the</strong> road made by L&N, two in<br />
production <strong>and</strong> ano<strong>the</strong>r two on order which should be rolling out<br />
by yearend.<br />
“It’s a new venture we’re very excited about <strong>and</strong> it’s coming<br />
at <strong>the</strong> right time,” Norman <strong>said</strong>. With <strong>the</strong> minibus fleet on <strong>the</strong><br />
road estimated to be about 20 years old, he explained that<br />
L&N, in partnership with Simpson Motors, is positioned to<br />
offer a modern vehicle, superior to that imported. Under <strong>the</strong><br />
partnership, Simpson Motors provides <strong>the</strong> Isuzu chassis on which<br />
<strong>the</strong> L&N vehicle is built.<br />
As Norman explained, “Our vehicles are designed taking into<br />
consideration all our market peculiarities like conditions of <strong>the</strong><br />
road, corners, frequent stop <strong>and</strong> go <strong>and</strong> load factors. They will<br />
<strong>the</strong>refore show less wear <strong>and</strong> tear than an imported vehicle.”<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
15
Trailblazing<br />
The L&N minibus boasts a better load capacity which means<br />
<strong>the</strong>re is less wear <strong>and</strong> tear on <strong>the</strong> engine <strong>and</strong> chassis.<br />
“It’s safer for <strong>the</strong> sector too in that it can comfortably carry loads<br />
better. It is built with non-corrosive materials <strong>and</strong> <strong>the</strong> interior<br />
outfitted with more durable materials that also allow for easier<br />
cleaning. The new minibuses are also more focused on passenger<br />
comfort, fitted with more individual seats <strong>and</strong> reversible fans that<br />
extract <strong>the</strong> heat <strong>and</strong> bring in cool air. It’s longer too so it can hold<br />
more passengers, but is still not oversized.”<br />
Vehicle customization is also a key aspect of <strong>the</strong> company’s<br />
operations. The mobile units utilized by <strong>the</strong> Royal <strong>Barbados</strong><br />
Police Force, <strong>and</strong> <strong>the</strong> Department of Emergency Management’s<br />
(DEM) vehicle, are also produced by L&N. The police units, one<br />
built here from scratch <strong>and</strong> <strong>the</strong> o<strong>the</strong>r a rebuilt import, boast<br />
conveniences like office space, a bathroom, kitchenette <strong>and</strong><br />
even a holding area. The DEM vehicle, which Norman <strong>said</strong> was<br />
built at heavily subsidized costs given <strong>the</strong> company’s recognition<br />
of <strong>the</strong> importance of such a vehicle, was especially designed to<br />
carry first aid <strong>and</strong> emergency equipment as well as o<strong>the</strong>r modern<br />
conveniences. O<strong>the</strong>r specialized vehicles rolled out by L&N<br />
include <strong>the</strong> Transport Board’s mobile comm<strong>and</strong> unit <strong>and</strong> <strong>the</strong><br />
Hope Sanctuary’s veterinary unit.<br />
L&N also offers vehicle collision repair <strong>and</strong> full restoration<br />
services to both commercial <strong>and</strong> private owners.<br />
As Ricky explained, <strong>the</strong> company’s capacity for growth comes<br />
16 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
Two L&N staffers getting it right<br />
largely out of a willingness to “identify problems <strong>and</strong> offers<br />
solutions <strong>and</strong> concepts…We have been concentrating on those<br />
projects that need unique manufactured products <strong>and</strong> solutions,<br />
<strong>and</strong> we’ve been focusing on products that are more cost effective<br />
<strong>and</strong> that are more efficient.”<br />
“We recognize that in order to improve our competitiveness<br />
we have to reduce our cost of production, <strong>and</strong> we have been<br />
researching cheaper materials which can be used in production<br />
while not compromising on <strong>the</strong> quality of <strong>the</strong> vehicle we offer.”<br />
It is <strong>the</strong>ir insistence on high-quality production that in fact won<br />
over officials at <strong>the</strong> Isuzu <strong>Corporation</strong> in Japan <strong>and</strong> endorsement<br />
of <strong>the</strong> L&N buses. On initiation of <strong>the</strong> project with Simpson<br />
Motors, Norman reported that within three months, three top<br />
Isuzu officials visited <strong>the</strong> workshop <strong>and</strong> were amazed at <strong>the</strong><br />
production being undertaken. They have since endorsed <strong>the</strong><br />
product <strong>and</strong> are keen to promote it in external markets.<br />
That’s a major plus for <strong>the</strong> company since beyond existing<br />
market niches, L&N is also exploring <strong>the</strong> development of a<br />
product line that can be readily sold with regularity, in both local<br />
<strong>and</strong> export markets.<br />
The company has initiated market scoping within <strong>the</strong> region <strong>and</strong><br />
even participated in a BIDC-hosted trade mission to Grenada<br />
<strong>and</strong> St. Lucia earlier this year. And while significant interest was<br />
expressed in L&N’s production capabilities, Ricky noted some<br />
market entry hindrances which would have to be tackled. These,<br />
he explained, related to <strong>the</strong> legislated definition of a minibus in
<strong>the</strong>se territories. Where as a minibus produced here seats<br />
28 persons for example, a minibus in St. Lucia is defined<br />
as a 14-seater. So while this particular market niche may<br />
prove difficult to penetrate, L&N has opted to focus on <strong>the</strong><br />
marketing of its customized vehicles.<br />
“It’s really for us to convince those in <strong>the</strong> o<strong>the</strong>r isl<strong>and</strong>s of <strong>the</strong><br />
usefulness of outpost vehicles, mobile offices <strong>and</strong> stations,”<br />
Norman <strong>said</strong>, noting <strong>the</strong> flexibility that comes with being able<br />
to deploy a mobile unit at anytime <strong>and</strong> anywhere for example.<br />
He fur<strong>the</strong>r added could serve well in arriving at final decisions<br />
on building permanent structures.<br />
“The major thing for us is to build on what we have <strong>and</strong> make<br />
it better. We want to ensure that <strong>the</strong> company is sustainable<br />
<strong>and</strong> we want to ensure a bright future for <strong>the</strong> company <strong>and</strong><br />
its employees. We have invested heavily in training <strong>and</strong> will<br />
continue to do so to improve on <strong>the</strong> skills that we have<br />
available,” Ricky <strong>said</strong>.<br />
Emphasizing that L&N is very employee-centred, he <strong>said</strong><br />
<strong>the</strong> company has placed employee safety <strong>and</strong> health, equal<br />
opportunity <strong>and</strong> <strong>the</strong> chance to advance at <strong>the</strong> top of its<br />
agenda.<br />
“There’s no limit to where you can go in this company <strong>and</strong> no<br />
limit to where we want this company to go,” Ricky stated.<br />
Some of <strong>the</strong> new minibuses under construction.<br />
Trailblazing<br />
Inside one of <strong>the</strong> customized mobile units.<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
17
Spirit of Enterprise<br />
Animation Comes Alive<br />
As <strong>the</strong> World Wide Web, <strong>the</strong> entertainment industry <strong>and</strong> o<strong>the</strong>r multimedia outlets continue to grow, opportunities for talented<br />
animators continue to explode. Computer animation, like many creative fields, is fiercely competitive. Making it in this industry<br />
segment requires strong artistic skills <strong>and</strong> a solid familiarity with <strong>the</strong> latest in computer animation technologies. It also requires<br />
<strong>the</strong> ability to turn creative thoughts into compelling images, using <strong>the</strong>m to effectively communicate an idea.<br />
Barbadian company, West Learner Inc, through its subsidiary<br />
division West Toonz, is proving to be somewhat of a pioneer, as<br />
it prepares to launch a series of initiatives destined to place <strong>the</strong><br />
company at <strong>the</strong> forefront of animation development <strong>and</strong> push <strong>the</strong><br />
growth of <strong>the</strong> industry in <strong>Barbados</strong>.<br />
CEO Curtis Padmore, in a wide-ranging interview with <strong>the</strong><br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst, <strong>said</strong> one of <strong>the</strong> major things on<br />
<strong>the</strong> cards was <strong>the</strong> launch of an animated television series.<br />
The Ron Christopher Show, which made its debut this summer<br />
on <strong>the</strong> Web, has been upgraded <strong>and</strong> refined with humorous<br />
elements <strong>and</strong> is coming to CBC TV 8 in 2012 with weekly,<br />
entertaining episodes where <strong>the</strong> animated host, Ron Christopher,<br />
will be interviewing home-grown celebrities in sports, politics,<br />
art, music <strong>and</strong> business. While initially aiming to win over a local<br />
audience, Padmore is hoping to exp<strong>and</strong> <strong>Barbados</strong>’ first animated<br />
TV talk show to include regional elements <strong>and</strong> audiences.<br />
And while this show will be targeting <strong>the</strong> adult demographic,<br />
West Toonz is producing ano<strong>the</strong>r cartoon series for children.<br />
Padmore explained that <strong>the</strong> children’s programme will feature<br />
West Indian storytelling with a mix of animated <strong>and</strong> real life<br />
characters. To ensure that <strong>the</strong> series is both engaging <strong>and</strong><br />
18 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
Some of <strong>the</strong> characters from <strong>the</strong> children’s TV show scheduled for airing in 2012<br />
entertaining, he <strong>said</strong> it will include discussion <strong>and</strong> song-<strong>and</strong>dance<br />
elements, <strong>and</strong> will touch on elements of <strong>the</strong> educational<br />
curriculum. Especially targeting children aged 4-11 years, it is<br />
expected that this series will be aired early next year.<br />
The four-year-old company has already carved an impressive<br />
niche for itself, working on animations for UNICEF as part of a<br />
Positive Behavioural Management Programme for schools. As<br />
Padmore noted, <strong>the</strong> four infomercials featuring <strong>the</strong> characters<br />
Disciplined David, Polite Paula, Healthy Hailey <strong>and</strong> Considerate<br />
Connie are all in production <strong>and</strong> will reinforce positive<br />
behaviours in children. With its team of eight, including part-time<br />
employees <strong>and</strong> two interns, West Toonz is also exploring <strong>the</strong><br />
development of content for mobile devices. At <strong>the</strong> same time,<br />
<strong>the</strong> company is better positioning itself for take-off by upgrading<br />
its website <strong>and</strong> office space with new hardware <strong>and</strong> software,<br />
improved aes<strong>the</strong>tics <strong>and</strong> ergonomics, <strong>and</strong> networking at trade<br />
shows like <strong>the</strong> Animae Caribe Animation <strong>and</strong> New Media Festival<br />
scheduled for October 3-November 6, 2011 in Trinidad, to<br />
increase its visibility.
Spirit of Enterprise<br />
Some members of <strong>the</strong> animation team (from left) Am<strong>and</strong>a Harris , Curtis Padmore, Cherisse Brewster <strong>and</strong> Jason Haynes<br />
And while <strong>the</strong>se initiatives are intended to drive company growth, <strong>the</strong> CEO <strong>said</strong> efforts are also being concentrated on securing <strong>the</strong><br />
future of <strong>the</strong> industry. West Learner was one of three companies involved in <strong>the</strong> production of an animation podcast which explored<br />
issues including: Critical Needs of <strong>the</strong> <strong>Barbados</strong> Animation Sector; The Growth of Animekon <strong>and</strong> Anime Caribe; <strong>and</strong> animation<br />
projects <strong>and</strong> export opportunities for <strong>the</strong> <strong>Barbados</strong> animation sector. The production, which is intended to draw attention <strong>and</strong><br />
investment to <strong>the</strong> animation industry, is featured on Network<strong>Barbados</strong>, a professional, business networking site created to unleash<br />
<strong>the</strong> export potential of <strong>Barbados</strong>’ indigenous services sector. Established by Invest <strong>Barbados</strong>, this unique initiative is geared to<br />
providing a platform for <strong>the</strong> export of Barbadian services to global markets.<br />
West Learner has set <strong>the</strong> wheels in motion to streng<strong>the</strong>n <strong>the</strong><br />
isl<strong>and</strong>’s artistic expertise with h<strong>and</strong>s-on training. Padmore<br />
explained, “We are hoping to host two training workshops in<br />
caricature design <strong>and</strong> storyboarding free of cost to secondary<br />
school students where one student per school is selected by<br />
teacher to participate. It is our expectation that that student will<br />
go back to <strong>the</strong> classroom to share what he/she has learnt.”<br />
The company will also be offering training for new animators in<br />
<strong>the</strong> production software, Toon Boom Harmony. This is all geared<br />
towards <strong>the</strong> advancement of <strong>the</strong> industry.<br />
As Padmore explained, “We want to do something innovative<br />
by inviting <strong>the</strong> business community to help build <strong>the</strong> industry by<br />
Ron Johnson is set to make his TV debut<br />
sponsoring <strong>the</strong> initiative where <strong>the</strong> students being trained are<br />
producing content for <strong>the</strong> companies <strong>the</strong>mselves. It could be<br />
something like an animated logo for example.”<br />
The intense four-week training programme has been developed<br />
with students of <strong>the</strong> <strong>Barbados</strong> Community College’s Fine Arts<br />
Division in mind. It is his intention that <strong>the</strong> course will conclude<br />
with “an evening of animation”, showcasing <strong>the</strong> work of <strong>the</strong><br />
graduates in a formal ceremony.<br />
West Learner has been founded on <strong>the</strong> principles of not only<br />
wanting to be different, but making a difference. And from all<br />
indications, <strong>the</strong> company appears set to achieve just that.<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
19
Achievement<br />
WINNING<br />
DESIGNS<br />
Barbadian Ms. Ichia Tiyi was declared <strong>the</strong> top designer<br />
in <strong>the</strong> recently concluded Design Caribbean 2011trade<br />
show.<br />
Her Tiyi By Design, an exclusive Caribbean br<strong>and</strong> of h<strong>and</strong>crafted<br />
art jewellery won over a panel of judges comprising<br />
Cindy Bowden, President of <strong>the</strong> World Craft Council of North<br />
America; Milo D. Pickney of Yellow Lama; <strong>and</strong> Jenny Polanco,<br />
Dominican Fashion Designer Founder <strong>and</strong> Director of Wedge<br />
Curatorial Projects..<br />
Second prize went to Atelier Dore, who produces modern<br />
Surinamese-designed jewellery h<strong>and</strong>-crafted from silver. New<br />
Caribbean Design, a group representing artisans involved in<br />
weave design <strong>and</strong> community development were awarded <strong>the</strong><br />
prize for <strong>the</strong> Best Collection. Mrs. Kirie Ishmael was named Best<br />
Young Designer winning with a scarlet ibis inspired jewellery<br />
collection.<br />
Winners received cash prizes, booths for Design Caribbean 2012,<br />
<strong>and</strong> marketing support to improve <strong>the</strong>ir business over <strong>the</strong> next<br />
year.<br />
Executive Director of Caribbean Export, Pamela Coke-Hamilton<br />
congratulated <strong>the</strong> winners, <strong>the</strong> organizing team, exhibitors <strong>and</strong><br />
<strong>the</strong> buyers.<br />
“Craft <strong>and</strong> creative industries are to be truly celebrated. It is a<br />
way to share expression not only in creation but also in visual<br />
enjoyment. The artisans who are committed to <strong>the</strong> quality <strong>and</strong><br />
sustainability of our culture have adapted <strong>the</strong>se traditions to<br />
appeal to <strong>the</strong> contemporary international marketplace. It is truly<br />
a celebration of <strong>the</strong> beautiful in craft, culture, music <strong>and</strong> people,”<br />
she concluded.<br />
Following on <strong>the</strong> success of <strong>the</strong> inaugural Design Caribbean 2011<br />
trade show, Caribbean Export <strong>Development</strong> Agency (Caribbean<br />
Export) is now looking to <strong>the</strong> future <strong>and</strong> possibly London in<br />
2012.<br />
Design Caribbean 2011 attracted over 130 designers from<br />
CARIFORUM states who savoured <strong>the</strong> chance to exhibit <strong>the</strong>ir<br />
creative skills <strong>and</strong> products at <strong>the</strong> Hotel El Embajador, Santo<br />
Domingo, Dominican Republic from September 1 to 4.<br />
The event connected <strong>the</strong> exhibitors with buyers, <strong>and</strong> design<br />
enthusiasts from <strong>the</strong> Caribbean Europe <strong>and</strong> North America.<br />
20 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
Mark Fangue <strong>and</strong> Liz Allen, buyers of Exotic World Gifts summed<br />
up <strong>the</strong> sentiment of o<strong>the</strong>r buyers speaking enthusiastically about<br />
<strong>the</strong> trade show.<br />
“We love <strong>the</strong> variety, between <strong>the</strong> necklaces <strong>and</strong> <strong>the</strong> tapestries.<br />
All were of very good quality. The silver products were<br />
extraordinary. We love being here it is a great event <strong>and</strong> we look<br />
forward to next year.”<br />
Equally pleased was product design consultant Giulio Vinaccia,<br />
who was quoted as speaking on <strong>the</strong> behalf of participating<br />
artisans.<br />
“Just imagine that only in <strong>the</strong> first four hours of opening we sold<br />
more than 50 per cent of <strong>the</strong> product!” Mr. Vinaccia <strong>said</strong> noting<br />
that this was a clear indication that success was possible with <strong>the</strong><br />
right approach, layout <strong>and</strong> new thinking in design.<br />
Design Caribbean 2011 also included a boot camp for businesses.<br />
Subjects covered included e-marketing which was conducted<br />
by Joseph Mohay, Oline Sale Manager of Global Directories;<br />
using intellectual property (IP) effectively which was presented<br />
by International IP Expert Kayanne Anderson; <strong>and</strong> creating<br />
opportunities <strong>and</strong> streng<strong>the</strong>ning br<strong>and</strong>s which was led by<br />
successful designer Marlene B.<br />
Product designer <strong>and</strong> lecturer, Lesley-Ann Noel held a session<br />
which focused on creating a social media strategy as a designer<br />
or an artisan; Kiran Akal, an accomplished creative thinker<br />
<strong>and</strong> consultant who has been an ideas generator for wellknown<br />
companies such as Walt Disney conducted a session<br />
on <strong>the</strong> potential of <strong>the</strong> Caribbean br<strong>and</strong>. Executive Director<br />
of Caribbean Export completed <strong>the</strong> boot camp by telling<br />
participants everything <strong>the</strong>y wanted to know about Caribbean<br />
Export but was afraid to ask.<br />
The inaugural event, which was funded by <strong>the</strong> International<br />
Trade Centre <strong>and</strong> <strong>the</strong> European Union, not only highlighted<br />
CARIFORUM h<strong>and</strong>craft but showcased o<strong>the</strong>r aspects of<br />
creativity.<br />
The entertainment industry received much exposure. Part of<br />
<strong>the</strong> offerings was a small film festival of Caribbean films including<br />
Ghett’A Life, a Jamaican production that won <strong>the</strong> Best Pitch<br />
Award at <strong>the</strong> Cannes Film Festival. A music concert featuring of<br />
artists from <strong>the</strong> region including Alison Hinds, Roldan, Xiomara<br />
Fortuna, Onika Best, Belo, Carrot Jarrett <strong>and</strong> L’Acadco was also<br />
held.
Dream, Imagine,<br />
Believe!<br />
There’s an old saying that ‘good things come to those<br />
who wait,’ but in today’s world where business<br />
opportunities are taken up at lightning speed, it’s more<br />
likely to be <strong>the</strong> things left by those who hustle! It’s also<br />
been <strong>said</strong> that in such a hyper-competitive business environment,<br />
economic success will depend more <strong>and</strong> more on intellectual<br />
capital, self-confidence <strong>and</strong> belief in oneself. With <strong>the</strong> possibility<br />
of ano<strong>the</strong>r economic recession looming somewhere in <strong>the</strong> future<br />
however, self-confidence <strong>and</strong> belief may not seem like much to<br />
hang your hard-earned cash on. But as each minute ticks by, <strong>the</strong><br />
chances increase that someone else will find that opportunity<br />
you’ve been waiting for, for what seems like a thous<strong>and</strong> years,<br />
<strong>and</strong> spin it into wealth <strong>and</strong> good fortune. So ra<strong>the</strong>r than kick<br />
yourself in <strong>the</strong> shin for letting life pass you by, why not take<br />
ano<strong>the</strong>r shot at that ‘elusive’ dream?<br />
And so <strong>the</strong> real question is, can your dreams <strong>and</strong> aspirations<br />
really be viable after you’ve lived pretty much half your life<br />
without a glimmer of hope that <strong>the</strong>y could happen? The answer<br />
is yes!<br />
Perhaps you’ve played a good h<strong>and</strong> at life – kept a ‘steady’ job,<br />
paid your bills, met your social <strong>and</strong> familial obligations <strong>and</strong> stayed<br />
out of trouble. But yet <strong>the</strong>re’s that niggling sense that you’ve not<br />
done your very best, you haven’t explored your fullest potential<br />
or even come close to that mark. And ever so often you keep<br />
wishing <strong>and</strong> hoping that somehow that thing that you want so<br />
badly, that dream, or idea that tugs at your imagination, would<br />
in some magical way fall into your lap. The reality is that it’s<br />
not likely to happen if you keep wishing <strong>and</strong> wishing ….. <strong>and</strong><br />
wishing. If you want to make your dream a reality, you simply<br />
have to get up, get out <strong>and</strong> get going!<br />
Get going at what?<br />
Perhaps you want to pursue that business venture that has been<br />
sitting in your mind for so many years. How about that career<br />
change you’ve always wanted but never had <strong>the</strong> nerve to pursue?<br />
You probably can’t picture yourself letting go of that sure thing<br />
that you have, whe<strong>the</strong>r it’s a job or enterprise that doesn’t quite<br />
stimulate your interest but never<strong>the</strong>less keeps you employed.<br />
By Fern Lewis, Manager Research<br />
<strong>and</strong> Information Services, BIDC<br />
Aspiration<br />
Then maybe it’s time you change <strong>the</strong><br />
channel <strong>and</strong> picture what could be if you just decide to make <strong>the</strong><br />
effort.<br />
Get up<br />
The first step to achieving your ‘elusive’ dream is figuring out<br />
what you want to spend your time doing. Are you comfortable<br />
in your job? Do you want to change your career? The times are<br />
pretty hard <strong>and</strong> a career change may seem like pie in <strong>the</strong> sky<br />
right now, but if you feel like you’re running out of air in your<br />
job, <strong>the</strong>n perhaps its time to think long <strong>and</strong> hard about doing<br />
something else.<br />
But before you take <strong>the</strong> leap, put things into perspective. Do you<br />
need to change your job or some things about your job? Perhaps<br />
some attitude adjustment on your end could put some zest into<br />
your job. Are you giving it your best? Are you looking for ways<br />
to improve your performance <strong>and</strong> enhance your chances for<br />
promotion or increased responsibilities <strong>and</strong> recognition? Get out<br />
of your box <strong>and</strong> carefully examine what you really need in order<br />
to increase your job satisfaction. Job satisfaction is not always<br />
about what your boss can do for you but oftentimes about what<br />
you can do for yourself.<br />
And don’t be like Alice in Wonderl<strong>and</strong> – get a sense of where you<br />
want to go!<br />
Get Out<br />
If your search is for something different like pursuing that<br />
business idea, <strong>the</strong>n preparation <strong>and</strong> planning are critical if you<br />
really want to maximise your investment of time <strong>and</strong> money.<br />
If you want to start that new venture, <strong>the</strong>n make that very<br />
important step – stop procrastinating! Seek out some advice on<br />
<strong>the</strong> investment required to get your business going. Institutions<br />
like Fund Access <strong>and</strong> Enterprise Growth Fund Ltd. provide<br />
funding for new ventures. The Entrepreneurial <strong>Development</strong><br />
Division of <strong>the</strong> BIDC can provide <strong>the</strong> essential business advisory<br />
services you need. You may also wish to do some test marketing<br />
<strong>and</strong> informal surveys to find out how people would respond<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
21
Aspiration<br />
to your product or service offering. Is it something <strong>the</strong>y would<br />
buy or use? Does your product or service address a particular<br />
need or problem? Always remember you’re making a long-term<br />
investment, so careful planning <strong>and</strong> execution are necessary.<br />
When you firm up your plans, make sure your prospective<br />
business is also sustainable - remember you’re building an<br />
investment for life.<br />
Get going<br />
One of <strong>the</strong> most difficult things to do when you figure out what<br />
you want to do is actually taking <strong>the</strong> leap <strong>and</strong> doing it. Quite<br />
often ‘doing it’ may require letting go of that security you’ve had<br />
for thous<strong>and</strong>s of years. It may mean quitting your job – imagine<br />
that! It may mean going out on a limb, taking a loan or finding a<br />
partner to invest hard-earned cash. And it may mean you can’t<br />
turn back to what you’ve left behind. But <strong>the</strong> old adage - nothing<br />
ventured, nothing gained - is also true. This needs to be riveted<br />
in your mind.<br />
If you want to dig yourself out from under years of mediocre<br />
performance <strong>and</strong> lacklustre returns, <strong>the</strong>n you just have to take<br />
a chance on that venture that can give you <strong>the</strong> bump you need.<br />
The old saying of ‘a bird in <strong>the</strong> h<strong>and</strong> is worth two in <strong>the</strong> bush’<br />
really makes no sense if <strong>the</strong> thing you’re holding onto so tightly is<br />
not taking you where you want to go!<br />
This may be <strong>the</strong> time to pull out that parachute <strong>and</strong> take a leap<br />
of faith. Whatever you decide, make your life happen, make<br />
it exciting, make it come alive! If you need fur<strong>the</strong>r motivation,<br />
consider <strong>the</strong> following words of inspiration by Les Brown:<br />
22 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
“If you want a thing bad enough to go out <strong>and</strong> fight for it, to work<br />
day <strong>and</strong> night for it, to give up your time, your peace <strong>and</strong> your<br />
sleep for it…<br />
if all that you dream <strong>and</strong> scheme is about it, <strong>and</strong> life seems<br />
useless <strong>and</strong> worthless without it…<br />
if you gladly sweat for it <strong>and</strong> fret for it <strong>and</strong> plan for it <strong>and</strong> lose all<br />
your terror of <strong>the</strong> opposition for it…<br />
if you simply go after that thing that you want with all of your<br />
capacity, strength <strong>and</strong> sagacity, faith, hope <strong>and</strong> confidence <strong>and</strong><br />
stern pertinacity<br />
if nei<strong>the</strong>r cold, poverty, famine, nor gout sickness nor pain, of<br />
body <strong>and</strong> brain,<br />
can keep you away from <strong>the</strong> thing that you want…<br />
if dogged <strong>and</strong> grim you beseech <strong>and</strong> beset it, with <strong>the</strong> help of<br />
God, you will get it!”<br />
“Would you tell me, please, which<br />
way I ought to go from here?”<br />
“That depends a good deal on where<br />
you want to get to,” <strong>said</strong> <strong>the</strong> <strong>Cat</strong>.<br />
“I don’t much care where--” <strong>said</strong><br />
Alice.<br />
“Then it doesn’t matter which way<br />
you go,” <strong>said</strong> <strong>the</strong> <strong>Cat</strong>.<br />
(Alice in Wonderl<strong>and</strong>)
CARVING OUT<br />
A NICHE<br />
In economic downturns, many entrepreneurs find it difficult to<br />
maintain a marketing presence due to a fall in sales. They often<br />
cut out marketing budgets, completely forgetting that <strong>the</strong>re is a<br />
lot you can do with less.<br />
One solution is to become laser-focussed on a niche. This way<br />
you don’t waste money trying to get everybody who you think<br />
wants your services.<br />
To begin your research, you need to answer three questions.<br />
Who do I want to serve? What problems do <strong>the</strong>y have that I (or<br />
only I ) can solve? Where can I find <strong>the</strong>m? This helps you target<br />
your spend.<br />
Most of <strong>the</strong> resistance to niche marketing stems from <strong>the</strong> belief<br />
that you are leaving money on <strong>the</strong> table having just excluded<br />
80% of <strong>the</strong> market. But think about it, don’t specialists get paid<br />
more than generalists? Don’t <strong>the</strong>y, in many instances, work<br />
fewer hours? The key message here is that <strong>the</strong> specialist does<br />
not waste time, energy <strong>and</strong> money attracting people who do not<br />
need <strong>the</strong>ir services. You are not going to go to an orthopaedic<br />
surgeon for orthodontic surgery. With a limited budget, you<br />
can’t afford to be throwing precious seeds on stony ground.<br />
Now that you get <strong>the</strong> point, <strong>the</strong>re is more work to do. You<br />
need to research your niche. Chances are you have worked<br />
with <strong>the</strong>m already; you just did not identify <strong>the</strong>m as a special<br />
income-generating group.<br />
What are <strong>the</strong>ir most pressing problems?<br />
Most people only seek services when <strong>the</strong>y are in pain or about to<br />
lose something. Fewer are proactive. So you need to find those<br />
who are ready to do business with you or educate your niche on<br />
<strong>the</strong> urgency of <strong>the</strong>ir problems.<br />
Do you have or can you get <strong>the</strong> expertise?<br />
You must be able to solve <strong>the</strong> pain that your target has. You<br />
must love doing so if you are to truly serve <strong>the</strong>m. Find out what<br />
is unique to your skills <strong>and</strong> personality that is inimitable.<br />
By Cheryl Gittens<br />
Executive Coaching<br />
Niche? In this economic climate?<br />
Even when <strong>the</strong> economy is sailing on favourable seas, many service entrepreneurs find it difficult to niche <strong>the</strong>ir<br />
markets. But what is a marketing niche anyway? It is targeting your business to a specific group of people with<br />
a specific need or set of needs who might be underserved by <strong>the</strong> market, <strong>and</strong> most of all are willing <strong>and</strong> able to pay for<br />
your services. After all, you are running a business.<br />
Can <strong>the</strong>y pay you? This is <strong>the</strong> clincher.<br />
If <strong>the</strong>y can’t pay <strong>the</strong>y are not your target. You need to find those<br />
who are willing <strong>and</strong> able to pay. This may mean elevating your<br />
clientele. You may move to higher-paying clients. Your job is<br />
to decide if you are ready for <strong>the</strong> shift. You can find less labourintensive<br />
ways to serve clients who can’t afford higher fees.<br />
The truth is, people will come to you with <strong>the</strong> niche problem<br />
but <strong>the</strong>y will inevitably ask you; do you also do …X? But if <strong>the</strong>y<br />
can’t pick you out of a crowd, you won’t even get to answer that<br />
question.<br />
bugeting or time<br />
Lack of ability to stop executing &<br />
think strategically<br />
Limited ability to develop content<br />
audience<br />
Lack of alignment between Sales &<br />
Marketing<br />
Lack of reliable data to drive decisions<br />
Lack of clarity on goals <strong>and</strong> objectives<br />
Lack of clear value proposition<br />
Lack of insight in competitive research<br />
®<br />
The economic climate<br />
Not enough education of Marketing<br />
Lack of support from IT<br />
from C-suite for new strategies<br />
marketingsherpa<br />
Source: @2011MarketingSherpa B2B Marketing Benchmark Survey<br />
Methodology: Fielded June 2011, No.1,745<br />
Contact Cheryl at cheryl@connectwithyourpassion.com<br />
19%<br />
17%<br />
27%<br />
26%<br />
25%<br />
25%<br />
32%<br />
32%<br />
31%<br />
30%<br />
35%<br />
33%<br />
62%<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
23
Aiming for Global St<strong>and</strong>ards<br />
FOOD FOR<br />
THOUGHT<br />
Company offering to help SMEs<br />
raise st<strong>and</strong>ards/systems<br />
24 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
Submitted By Nadine Benn<br />
Barbadian micro, small <strong>and</strong> medium enterprises /entrepreneurs (SMEs) are being encouraged to become<br />
more proactive than reactive when it comes to food safety <strong>and</strong> quality. With <strong>the</strong> current modernization<br />
of <strong>the</strong> <strong>Barbados</strong> National St<strong>and</strong>ards Institute (BNSI) <strong>and</strong> advent of <strong>the</strong> National Agriculture <strong>and</strong> Food<br />
Control Policy, SMEs particularly in <strong>the</strong> agro production <strong>and</strong> food processing sector will have to soon align<br />
<strong>the</strong>mselves with global st<strong>and</strong>ards. This certainly does not exempt <strong>the</strong> o<strong>the</strong>r stakeholders involved in food<br />
preparation such as <strong>the</strong> caterers, hoteliers, restaurant <strong>and</strong> canteen owners, vendors <strong>and</strong> o<strong>the</strong>r meal/food<br />
service providers.<br />
The only constant in life is change <strong>and</strong> this is clearly happening at<br />
<strong>the</strong> BNSI. It is currently undergoing a st<strong>and</strong>ards modernization<br />
process. What does this mean? BNSI will seek to prioritize its<br />
st<strong>and</strong>ards <strong>and</strong> maintain, revise, replace, withdraw or adopt<br />
any st<strong>and</strong>ard it deems necessary. Most of <strong>the</strong> st<strong>and</strong>ards will be<br />
replaced with <strong>the</strong> already existing international st<strong>and</strong>ards, instead<br />
of having different st<strong>and</strong>ards to that of ISO/Codex.<br />
Once <strong>the</strong>re is an international/global st<strong>and</strong>ard for a particular<br />
product/good or food or process for which BNSI does not have<br />
one, it will adopt its own, instead of reinventing <strong>the</strong> wheel.<br />
Therefore, st<strong>and</strong>ards such as <strong>the</strong> Codex Alimentarius St<strong>and</strong>ard<br />
for Food Hygiene will be enforced <strong>and</strong> SMEs will have to<br />
conform.<br />
The National Agriculture <strong>and</strong> Food Control Policy, which is to be<br />
implemented very shortly, will certainly be encompassing <strong>the</strong> use<br />
of some aspects of <strong>the</strong> ISO 22000:2005 Food Safety Management<br />
System which covers <strong>the</strong> safety of food from farm to fork.<br />
In this regard, elements of <strong>the</strong> control of chemical, physical <strong>and</strong><br />
microbiological contamination of food, risk analyses, traceability
<strong>and</strong> product withdrawals, will be of utmost importance. Having<br />
such systems in place will be expected by SMEs as <strong>the</strong>se aim<br />
to build consumer confidence <strong>and</strong> assurance in <strong>the</strong> foods <strong>the</strong>y<br />
consume.<br />
The implementation of such systems is not impossible or overly<br />
costly for SMEs <strong>and</strong> can be achieved by using experienced<br />
technicians in this field who have food safety <strong>and</strong> quality at heart<br />
for SMEs.<br />
So you may be asking yourself, are <strong>the</strong>re such personnel? Where<br />
can I find such persons? Well, my answer to you is yes, FSQ<br />
Solutions Inc, <strong>and</strong> <strong>the</strong>y are among you, right here in <strong>Barbados</strong>.<br />
Besides increasing consumer confidence <strong>and</strong> assurance in<br />
<strong>the</strong> foods produced <strong>and</strong> consumed, aligning to international<br />
st<strong>and</strong>ards:<br />
ensures all stakeholders in <strong>the</strong> food business have in place <strong>and</strong><br />
are maintaining some form of food safety <strong>and</strong> quality system,<br />
whe<strong>the</strong>r it is Good Manufacturing Practices (GMP), Good<br />
Agricultural Practices (GAP), Good Hygienic Practices (GHP),<br />
Hazard Analysis Critical Control Points (HACCP) or Food<br />
Safety Management (ISO 22000:2005);<br />
reduces <strong>the</strong> very high incidence of food-borne illnesses/<br />
poisoning that occurs annually;<br />
gives SMEs a level playing field with <strong>the</strong>ir competitors as <strong>the</strong>y<br />
meet international st<strong>and</strong>ards from <strong>the</strong> onset ra<strong>the</strong>r than trying<br />
to comply with many separate st<strong>and</strong>ards;<br />
facilitates trade by giving SMEs a better opportunity to export<br />
to <strong>and</strong> access o<strong>the</strong>r markets without having to go through<br />
major changes in <strong>the</strong>ir processes/product/packaging;<br />
Aiming for Global St<strong>and</strong>ards<br />
improves <strong>the</strong> company’s image/br<strong>and</strong> as customer trust <strong>and</strong><br />
loyalty are enhanced.<br />
Some may ask, with so many benefits <strong>and</strong> opportunities, why<br />
don’t more SMEs have <strong>the</strong>se systems in place? Well, <strong>the</strong> first<br />
thing one would hear is COST/MONEY, but I believe this is not<br />
<strong>the</strong> sole root cause. From my experience, one major barrier is<br />
that of perception. SMEs perceive that <strong>the</strong> implementation of<br />
such a system is costly, but this is only <strong>the</strong> case if you want to be<br />
ISO certified. The basic food safety <strong>and</strong> quality system serves as a<br />
starting point for SMEs, which can <strong>the</strong>n become certified later if<br />
<strong>the</strong>y wish.<br />
Ano<strong>the</strong>r major barrier is TIME, as SMEs are more focused on<br />
production ra<strong>the</strong>r than quality or food contamination prevention<br />
during processing. Some of <strong>the</strong> o<strong>the</strong>r barriers have been a<br />
lack of adequate knowledge, technical expertise <strong>and</strong> finding<br />
<strong>the</strong> help needed at an affordable cost. This is where <strong>the</strong> food<br />
technologists at FSQ Solutions Inc. come in.<br />
We are aiming at helping SMEs <strong>and</strong> all stakeholders in <strong>the</strong> food<br />
service <strong>and</strong> processing sector underst<strong>and</strong> <strong>and</strong> apply any of <strong>the</strong><br />
basic/ ISO food safety systems mentioned to <strong>the</strong>ir respective<br />
businesses at a very affordable price. We give each client <strong>the</strong><br />
full technical support needed during <strong>and</strong> even after <strong>the</strong> entire<br />
process, along with tools for better underst<strong>and</strong>ing. FSQ<br />
Solutions Inc. has been in business for several years <strong>and</strong> has<br />
worked with several SMEs in this regard.<br />
We also provide integral support services, training <strong>and</strong> auditing<br />
in <strong>the</strong> following:- quality management (ISO 9001:2008) for <strong>the</strong><br />
service sector; quality assurance & control; new plant/ product<br />
development <strong>and</strong> continuous improvement of products/services.<br />
Nadine Benn is a food safety <strong>and</strong> quality management system<br />
auditor. She may be contacted at fsqconsultancy@live.com<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
25
Human Resource Deveolpment<br />
At a time when <strong>the</strong> global economy is poised to emerge out<br />
of its latest recessionary period, are Barbadian companies<br />
positioned to take advantage of improving economic<br />
conditions? Are <strong>the</strong>y equipped with <strong>the</strong> necessary innovative<br />
ideas, finance, machinery, equipment <strong>and</strong> plant? Are <strong>the</strong>y staffed<br />
with workers possessing <strong>the</strong> relevant skills?<br />
According to <strong>the</strong> results of a survey conducted by <strong>the</strong> <strong>Barbados</strong><br />
<strong>Investment</strong> <strong>and</strong> <strong>Development</strong> <strong>Corporation</strong> (BIDC) in December<br />
2010, Barbadian manufacturing companies are heavily deficient<br />
in <strong>the</strong> skill-sets needed to operate at maximum efficiency. Of<br />
greater concern is that entrepreneurs generally are not confident<br />
of <strong>the</strong> ability of academic <strong>and</strong> training institutions to address <strong>the</strong><br />
problem <strong>and</strong> eliminate <strong>the</strong> gaps in <strong>the</strong> short term.<br />
These findings agree with those of <strong>the</strong> Ministry of Labour<br />
which has identified a list of occupations in dem<strong>and</strong> <strong>and</strong> a host<br />
of required skill-sets for <strong>the</strong> Manufacturing sector. The 2009<br />
iteration of <strong>the</strong> Occupational <strong>and</strong> Training Needs Assessment<br />
Exercise revealed that <strong>the</strong> occupations being dem<strong>and</strong>ed<br />
include machine operators, wood workers, joiners, carpenters,<br />
electrical technicians, mechanical technicians, process engineers,<br />
mechanical engineers, marketers, graphic artists, chemical<br />
engineers, chemists, biologists, accountants, food technologists,<br />
herbalists, sewing machinists, pattern makers, screen printers,<br />
electrical engineers, industrial designers, conservators <strong>and</strong><br />
herbalists.<br />
This assessment exercise also listed <strong>the</strong> required skill-sets as<br />
machinery skills, carpentry skills, joinery skills, plant safety<br />
hydraulics, quality assurance <strong>and</strong> st<strong>and</strong>ards, computers <strong>and</strong><br />
automation principles, robotics, draughtsmanship skills, computer<br />
aided design skills, food h<strong>and</strong>ling. In addition, soft skills such<br />
as literacy, numeracy, positive work ethic were identified as<br />
deficient.<br />
What are <strong>the</strong> implications of <strong>the</strong>se skills deficiencies?<br />
Respondents to <strong>the</strong> BIDC survey highlighted declining<br />
productivity <strong>and</strong> adverse impacts on <strong>the</strong>ir bottom lines. This has<br />
created much apprehension among producers who are unwilling<br />
at this time to exp<strong>and</strong> investment in <strong>the</strong>ir businesses.<br />
26 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
SKILL-FULL OR EMPTY?<br />
By Pedro Hutchinson, Research Officer, BIDC<br />
With <strong>the</strong> general reluctance by manufacturers to purchase new<br />
machinery <strong>and</strong> equipment or to construct new technologicallysophisticated<br />
plants, <strong>the</strong> local industry is forced to continue on<br />
<strong>the</strong> current path of “working harder, not smarter”.<br />
The Manpower Research Unit (MRU) of <strong>the</strong> Ministry of Labour<br />
is poised to conduct ano<strong>the</strong>r Occupational <strong>and</strong> Training Needs<br />
Assessment Exercise. The MRU intends to conduct focus<br />
groups with key stakeholders comprising umbrella associations,<br />
employers <strong>and</strong> Government with a view to assessing <strong>the</strong><br />
occupational needs, training needs, qualification <strong>and</strong> skillsets<br />
needed within a number of economic sectors including<br />
Manufacturing. Commencing in November 2011 with initial<br />
contact sessions, this exercise will engage focus groups in<br />
December 2011 <strong>and</strong> January 2012.<br />
Head of <strong>the</strong> MRU, Mark Franklin is confident that <strong>the</strong> results<br />
of <strong>the</strong>se focus groups will inform <strong>the</strong> direction that training <strong>and</strong><br />
educational institutions must follow. Mr. Franklin expects that,<br />
with <strong>the</strong> input of agencies such as <strong>the</strong> BIDC <strong>and</strong> <strong>the</strong> <strong>Barbados</strong><br />
Manufacturers’ Association (BMA), supported by input from<br />
selected employers, a clear insight can be gained into <strong>the</strong> skills<br />
needed within Manufacturing, <strong>the</strong>reby allowing for dialogue with<br />
<strong>the</strong> Samuel Jackman Prescod Polytechnic (SJPP), <strong>the</strong> <strong>Barbados</strong><br />
Community College (BCC), <strong>the</strong> <strong>Barbados</strong> Vocational Training<br />
Board (BVTB) <strong>and</strong> <strong>the</strong> Technical <strong>and</strong> Vocational Education <strong>and</strong><br />
Training (TVET) Council to craft training programmes targeted<br />
to address <strong>the</strong> gaps.<br />
In this age of globalisation, Barbadian businesses must accept that<br />
future economic growth <strong>and</strong> competitiveness in this small open<br />
economy is predicated on <strong>the</strong> availability of a motivated, highly<br />
skilled, innovative <strong>and</strong> critical thinking workforce. An investment<br />
in this much needed resource must take place now.<br />
Collaboration <strong>and</strong> cooperation with <strong>the</strong> training <strong>and</strong> education<br />
institutions will ensure that <strong>the</strong> skills bank will not be depleted,<br />
forcing <strong>the</strong> importation of essential skills, but that <strong>the</strong>re is an<br />
abundance of <strong>the</strong>se skills locally, even facilitating <strong>the</strong> deployment<br />
of skilled technicians overseas <strong>and</strong> <strong>the</strong> earning of much needed<br />
foreign exchange.
The <strong>Barbados</strong><br />
Competitiveness Programme<br />
A <strong>Cat</strong>alyst for Improving <strong>the</strong> Isl<strong>and</strong>’s Domestic Sectors<br />
Confronted by <strong>the</strong> effects of <strong>the</strong> worst economic recession<br />
in over a century, government is taking steps to ensure<br />
that <strong>the</strong> future development of <strong>the</strong> isl<strong>and</strong>’s domestic<br />
sectors is on a sure footing.<br />
This will be achieved over <strong>the</strong> next four years with <strong>the</strong><br />
implementation of <strong>the</strong> Government of <strong>Barbados</strong>/Inter-American<br />
<strong>Development</strong> Bank (IDB) funded <strong>Barbados</strong> Competitiveness<br />
Programme. The overall cost of <strong>the</strong> programme is US $11.8<br />
million <strong>and</strong>, of this figure, <strong>the</strong> IDB will provide US $10 million;<br />
while government will foot <strong>the</strong> remaining US $1.8 million.<br />
The loan agreement was initialled by late Prime Minister David<br />
Thompson on March 21 last year. The programme was officially<br />
launched during a ceremony at <strong>the</strong><br />
Lloyd Erskine S<strong>and</strong>iford Centre,<br />
earlier this year.<br />
Coordinator of <strong>the</strong> <strong>Barbados</strong><br />
Competitiveness Programme<br />
(BCP), Terry Bascombe, described<br />
it as “a necessary fillip to improve<br />
<strong>the</strong> competitiveness of <strong>the</strong> isl<strong>and</strong>’s economy” in light of <strong>the</strong><br />
challenges being experienced as a result of <strong>the</strong> ongoing economic<br />
crunch.<br />
“Most countries have taken this opportunity to streng<strong>the</strong>n <strong>the</strong>ir<br />
economies to ensure that <strong>the</strong>ir domestic sectors are more<br />
resilient if faced with situations like <strong>the</strong>se in <strong>the</strong> future. In <strong>the</strong><br />
case of <strong>Barbados</strong>, <strong>the</strong> programme would, among o<strong>the</strong>r things,<br />
improve <strong>the</strong> export potential of <strong>the</strong> economy <strong>and</strong> enable <strong>the</strong><br />
domestic sectors to attract more private investors,” he added.<br />
Apart from <strong>the</strong>se goals, Mr. Bascombe alluded to <strong>the</strong> fourpronged<br />
strategy that would be adopted to realise <strong>the</strong>se targets.<br />
“The first component would seek to ensure a coherent business<br />
development framework that deals with matters relating to fiscal<br />
incentives <strong>and</strong> regulation; <strong>the</strong> second component’s emphasis<br />
would be on creating a more coherent architecture of public<br />
sector services to facilitate business development; while <strong>the</strong> third<br />
component would address issues regarding <strong>the</strong> logistics of trade<br />
facilitation <strong>and</strong> improving access to infrastructure through public/<br />
private partnerships. The fourth component on <strong>the</strong> o<strong>the</strong>r h<strong>and</strong>,<br />
would seek to improve public/private dialogue on improving <strong>the</strong><br />
competitiveness of <strong>the</strong> economy,” Mr. Bascombe surmised.<br />
The Project Coordinator expressed <strong>the</strong> hope that a Medium-<br />
Term Competitiveness Strategy would be developed based on<br />
<strong>the</strong> ideas thrown out by <strong>the</strong> technocrats during discussions to be<br />
held on component four.<br />
Competitiveness<br />
On <strong>the</strong> subject of inculcating a culture of competitiveness, <strong>the</strong><br />
Coordinator summed it up this way: “To quote one writer, <strong>the</strong><br />
road to competitiveness is like a marathon <strong>and</strong> not a sprint...<br />
<strong>the</strong>refore, we will not see <strong>the</strong> benefits immediately after <strong>the</strong><br />
four years. Most of <strong>the</strong>se benefits will materialise when people<br />
change <strong>the</strong>ir way of doing things <strong>and</strong> make adjustments in <strong>the</strong>ir<br />
attitudes <strong>and</strong> this is something that will take time.<br />
“We can spend US $11.8 million on <strong>the</strong> latest equipment <strong>and</strong><br />
technology, but if workers do not see <strong>the</strong> need for <strong>the</strong>mselves to<br />
be more productive, <strong>the</strong>n we really would have embarked on a<br />
futile exercise,” Mr. Bascombe underlined.<br />
“In <strong>the</strong> case of <strong>Barbados</strong>, <strong>the</strong> programme<br />
would, among o<strong>the</strong>r things, improve <strong>the</strong><br />
export potential of <strong>the</strong> economy <strong>and</strong> enable<br />
<strong>the</strong> domestic sectors to attract more<br />
private investors,”<br />
He expressed <strong>the</strong> hope that <strong>the</strong><br />
talks to be held with <strong>the</strong> various<br />
constituents of <strong>the</strong> BCP, would<br />
inculcate <strong>the</strong> need for citizens<br />
to embrace <strong>the</strong> ideal of being<br />
more competitive in all spheres<br />
of activity.<br />
Mr. Bascombe noted that <strong>the</strong> current programme might not<br />
capture all those areas which <strong>the</strong> public may conceive as<br />
necessary to improving competitiveness within four years.<br />
He added: “We have been getting feedback that <strong>the</strong> current<br />
programme may not necessarily achieve competiveness as<br />
defined by some persons <strong>and</strong> we too are of <strong>the</strong> view that a four<br />
year programme, designed in <strong>the</strong> way that <strong>the</strong> BCP is, may not<br />
necessarily improve all aspects of competitiveness.<br />
“We are of <strong>the</strong> view, however, that this programme provides a<br />
good starting point for improving competitiveness; while alerting<br />
<strong>the</strong> general population about <strong>the</strong> importance of improving<br />
competitiveness in <strong>Barbados</strong>. Once we have successfully<br />
implemented this first project, <strong>the</strong>n <strong>the</strong>re may be a need to<br />
consider a second exercise, to fill <strong>the</strong> gaps that were observed<br />
during <strong>the</strong> implementation of this first project. In o<strong>the</strong>r words,<br />
<strong>the</strong>re can be a <strong>Barbados</strong> Competitiveness Programme part two,”<br />
Mr. Bascombe pointed out.<br />
The initiative is just one of a number of measures introduced<br />
by government that will boost economic development over <strong>the</strong><br />
long-term. (BGIS)<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
27
SME Efficiency<br />
Government<br />
Launches<br />
Factoring<br />
Programme<br />
For SMEs<br />
Micro <strong>and</strong> small businesses which provide services<br />
<strong>and</strong>/or goods to Government will now have <strong>the</strong><br />
opportunity to receive payment in a timely fashion.<br />
Rural <strong>Development</strong>, in conjunction with <strong>the</strong> Central Bank of<br />
<strong>Barbados</strong>, launched its Trade Receivables Liquidity Facility, also<br />
known as <strong>the</strong> Factoring Programme.<br />
The Programme allows small <strong>and</strong> micro businesses (SMEs) to<br />
be paid (a minimum of $10,000.00 <strong>and</strong> maximum $200,000.00<br />
per quarter), for goods <strong>and</strong> or services which <strong>the</strong>y provided<br />
to Government Ministries or departments, in a short period of<br />
time, at a discountable rate.<br />
“As this Programme is rolled out in <strong>the</strong> upcoming days with<br />
<strong>the</strong> invitation for individuals, micro <strong>and</strong> small enterprises,<br />
to register with this Ministry, I can assure you without<br />
doubt, that <strong>the</strong> previous untenable scenario of inordinately<br />
long waits for payment of goods <strong>and</strong> services provided to<br />
government, will most definitely be a thing of <strong>the</strong> past,”<br />
Speaking during <strong>the</strong> official launch, which took place at <strong>the</strong><br />
Gr<strong>and</strong>e Salle, Tom Adams Financial Centre, Minister of Industry<br />
<strong>and</strong> Small Business Denis Kellman, affirmed that <strong>the</strong><br />
“... programme has <strong>the</strong> potential to positively impact <strong>the</strong><br />
micro <strong>and</strong> small enterprise sectors in terms of <strong>the</strong> significant<br />
financial benefit that can accrue to those individuals.”<br />
He underscored <strong>the</strong> SME sectors as major contributors to <strong>the</strong><br />
growth of today’s economy, <strong>and</strong> reconfirmed Government’s<br />
commitment to repositioning those sectors “so as to<br />
ensure [<strong>the</strong>ir] maximum contribution to national economic<br />
development.<br />
28 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
Denis Kellman, Minister of Industry & Small Business<br />
“The Trade Receivables Liquidity Programme is one in a series<br />
of targeted initiatives intended for this purpose, which will be<br />
undertaken by this Ministry to assist in <strong>the</strong> general improvement<br />
of <strong>the</strong> <strong>Barbados</strong> SME Sector. As this Programme is rolled out<br />
in <strong>the</strong> upcoming days with <strong>the</strong> invitation for individuals, micro<br />
<strong>and</strong> small enterprises, to register with this Ministry, I can assure<br />
you without doubt, that <strong>the</strong> previous untenable scenario of<br />
inordinately long waits for payment of goods <strong>and</strong> services<br />
provided to government, will most definitely be a thing of <strong>the</strong><br />
past,” he asserted.<br />
The Minister pointed out that <strong>the</strong> Factoring<br />
process should take no longer than seven days, <strong>and</strong><br />
highlighted <strong>the</strong> financial institutions which are enlisted<br />
under <strong>the</strong> Programme. These are: <strong>the</strong> main branches<br />
of any commercial bank; <strong>the</strong> Enterprise Growth Fund<br />
Limited; Fund Access; Consolidated Finance; Globe<br />
Finance; Citicorp Merchant Bank; <strong>and</strong> Caribbean<br />
Financial Services <strong>Corporation</strong>.<br />
The Minister reaffirmed <strong>the</strong> importance of <strong>the</strong> initiative <strong>and</strong> gave<br />
<strong>the</strong> assurance that his Ministry would “leave no stone un-turned<br />
in galvanising <strong>the</strong> support of <strong>the</strong> stakeholders, particularly those<br />
within Government, whose responsibility is to ensure that this<br />
Programme is both sustainable <strong>and</strong> a continuing success.”<br />
He fur<strong>the</strong>r added that “as we seek to find creative ways to<br />
reposition <strong>the</strong> micro <strong>and</strong> small business sector to leverage both<br />
its size <strong>and</strong> resource base to promote greater economic growth,<br />
<strong>the</strong>re is an urgent need to ensure <strong>the</strong> avoidance of a dearth in<br />
viable idea generation.”
Export Management Training<br />
News to Note<br />
On August 23 <strong>and</strong> 24, <strong>the</strong> Inter-American <strong>Investment</strong> <strong>Corporation</strong> (IIC), a member of <strong>the</strong> Inter-American <strong>Development</strong><br />
Bank (IDB) Group, held a FINPYME ExportPlus workshop on export management. The workshop, organized in partnership<br />
with <strong>the</strong> <strong>Barbados</strong> <strong>Investment</strong> <strong>and</strong> <strong>Development</strong> <strong>Corporation</strong> (BIDC), <strong>the</strong> <strong>Barbados</strong> Manufacturers’ Association (BMA), <strong>and</strong><br />
Scotiabank, provided information <strong>and</strong> training to small <strong>and</strong> medium-sized enterprises on best practices, techniques, methods, <strong>and</strong><br />
guidelines on how to better manage projects. Participants also received technical assistance on trade certification.<br />
Efforts Under Way To Enhance<br />
Manufacturing Sector<br />
Government, through <strong>the</strong> Ministry of Industry, Small<br />
Business <strong>and</strong> Rural <strong>Development</strong>, is intent on enhancing<br />
<strong>the</strong> manufacturing sector.<br />
This assertion came from Minister Denis Kellman, during his<br />
remarks at <strong>the</strong> launch of Caribbean LED Lighting Inc., at <strong>the</strong><br />
Hilton <strong>Barbados</strong>.<br />
Minister Kellman <strong>said</strong> that <strong>the</strong>re had been some communication<br />
between officials from his Ministry <strong>and</strong> <strong>the</strong> <strong>Barbados</strong><br />
Manufacturers’ Association, <strong>and</strong> stated that as a result “we will<br />
seek through policy formulation, an enabling framework <strong>and</strong><br />
advocacy to create an environment that is conducive to <strong>the</strong><br />
sector’s expansion <strong>and</strong> sustainability”.<br />
On September 6, 2011, <strong>the</strong> Inter-American <strong>Investment</strong><br />
<strong>Corporation</strong> (IIC), a member of <strong>the</strong> Inter-American<br />
<strong>Development</strong> Bank (IDB) Group, launched <strong>the</strong><br />
FINPYME Integrity Program in <strong>Barbados</strong>.<br />
Companies attending learned how implementing ethical business<br />
practices contributes to a company’s economic, environmental,<br />
<strong>and</strong> social impact. This initiative is possible thanks to <strong>the</strong> support<br />
from a key IIC member country, <strong>the</strong> Republic of Korea, through<br />
<strong>the</strong> Korea-IIC SME <strong>Development</strong> Trust Fund.<br />
During 2010, <strong>the</strong> IIC partnered with organizations such as <strong>the</strong><br />
International Trade Administration (ITA) of <strong>the</strong> U.S. Department<br />
of Commerce to create a “train <strong>the</strong> trainers” tool kit to help<br />
bring business ethics principles such as integrity <strong>and</strong> transparency<br />
to <strong>the</strong> level of local small <strong>and</strong> medium-sized enterprises (SMEs)<br />
in a more effective way. After <strong>the</strong> FINPYME Integrity launching<br />
in <strong>the</strong> Caribbean, <strong>the</strong> IIC intends to perfect <strong>the</strong> toolkit by seeking<br />
He fur<strong>the</strong>r stated that <strong>the</strong> <strong>Barbados</strong> <strong>Investment</strong> <strong>and</strong><br />
<strong>Development</strong> <strong>Corporation</strong> (BIDC) “will continue to offer<br />
technical assistance, which will allow <strong>the</strong> various enterprises to<br />
re-tool as <strong>the</strong>y seek to improve <strong>the</strong> quality of <strong>the</strong>ir product <strong>and</strong><br />
<strong>the</strong>ir production efficiency”.<br />
The Industry Minister gave <strong>the</strong> assurance that Government<br />
would continue to give <strong>the</strong> necessary assistance to “raise <strong>the</strong><br />
st<strong>and</strong>ards of <strong>the</strong> manufacturing sector”, as long as it does not<br />
conflict with <strong>the</strong> World Trade Organization’s rules.<br />
IIC promoting transparent business environment<br />
for small <strong>and</strong> medium-sized companies<br />
input from local companies <strong>and</strong> business ethics professionals, <strong>and</strong><br />
ultimately make it available as a public good to scale up its reach<br />
throughout Latin America <strong>and</strong> <strong>the</strong> Caribbean.<br />
To implement <strong>the</strong> program, <strong>the</strong> IIC is collaborating with local<br />
organizations that serve <strong>the</strong> unique needs of local businesses in<br />
each country. The IIC’s strategic partners for <strong>the</strong> program are<br />
The Cave Hill School of Business, The <strong>Barbados</strong> Manufacturers’<br />
Association, The <strong>Barbados</strong> Small Business Association, <strong>and</strong> The<br />
<strong>Barbados</strong> Coalition of Services Industries.<br />
Through FINPYME Integrity, <strong>the</strong> IIC <strong>and</strong> its partner organizations<br />
will share best practices in business ethics for SMEs across<br />
<strong>the</strong> Caribbean region through a series of group <strong>and</strong> individual<br />
technical assistance activities. Experts will work with SMEs to<br />
create a strategic vision regarding ethics <strong>and</strong> integrity, develop a<br />
business <strong>and</strong> a code of conduct, <strong>and</strong> adopt international st<strong>and</strong>ards<br />
for fighting corruption.<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
29
Our Environment<br />
SMART ENERGY<br />
FUND SIGNED<br />
Government is committed to reducing <strong>the</strong> isl<strong>and</strong>’s dependence on fossil fuels by 70 per cent over <strong>the</strong><br />
next 15 years <strong>and</strong> this will be made possible with <strong>the</strong> implementation of <strong>the</strong> Smart Energy Fund.<br />
Minister in <strong>the</strong> Prime Minister’s Office with responsibility for<br />
Energy, Senator Darcy Boyce, made this disclosure, during <strong>the</strong><br />
signing ceremony for <strong>the</strong> US $10 million Smart Energy Fund<br />
between <strong>the</strong> Division of Energy <strong>and</strong> <strong>the</strong> Enterprise Growth Fund<br />
Limited (EGFL) at Government headquarters.<br />
He <strong>said</strong> <strong>the</strong> fund was broken down into components with <strong>the</strong><br />
largest being US $6 million, for loans disbursal through EGFL, to<br />
assist small businesses <strong>and</strong> homeowners with energy efficiency<br />
projects.<br />
Senator Boyce added: “The Smart Energy Fund is <strong>the</strong> first step.<br />
It is a pilot fund which we hope to use to test <strong>the</strong> concept <strong>and</strong><br />
once we are happy that it will work well, we will want to exp<strong>and</strong><br />
that fund into a much larger commercial size fund for businesses<br />
<strong>and</strong> householders.”<br />
Regarding <strong>the</strong> energy consumption habits of householders, he<br />
intimated that government was aiming to get 3 000 households<br />
per year utilising renewable energy sources.<br />
He also urged <strong>the</strong> commercial sector to see <strong>the</strong> benefits of<br />
utilising alternative energy to power <strong>the</strong>ir respective businesses.<br />
“To be able to<br />
sustain that, we<br />
have already<br />
begun <strong>the</strong> search<br />
for funding, to<br />
ensure we can put<br />
that in place as<br />
soon as we have<br />
proven this concept with <strong>the</strong> Smart Energy Pilot Fund... <strong>and</strong> as<br />
soon as <strong>the</strong> <strong>Barbados</strong> Light <strong>and</strong> Power [Co. Ltd] has proven <strong>the</strong><br />
scheme which <strong>the</strong>y have with <strong>the</strong> Fair Trading Commission for<br />
renewable energy,” Senator Boyce emphasised.<br />
30 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
“The Smart Energy Fund is <strong>the</strong> first step. It is a pilot<br />
fund which we hope to use to test <strong>the</strong> concept <strong>and</strong><br />
once we are happy that it will work well, we will want<br />
to exp<strong>and</strong> that fund into a much larger commercial<br />
size fund for businesses <strong>and</strong> householders.”<br />
He <strong>said</strong> <strong>the</strong> Smart Fund’s components also facilitated <strong>the</strong><br />
replacement of old air conditioning units, inc<strong>and</strong>escent bulbs <strong>and</strong><br />
o<strong>the</strong>r types of lighting to promote energy efficiency habits among<br />
consumers.<br />
Meanwhile, Chairman of EGFL, Terrence Thornhill, expressed<br />
delight that <strong>the</strong> company was selected as <strong>the</strong> executing agency<br />
for this initiative.<br />
“We have, over <strong>the</strong> past couple of years, ably demonstrated our<br />
capacity to disburse in a timely manner, funds apportioned to us<br />
by Government. The Smart Energy Fund is one that has certain<br />
technical challenges associated with it.<br />
However, we have managed funds that have had o<strong>the</strong>r challenges<br />
<strong>and</strong> we have managed <strong>the</strong>m well. So, we are looking forward to<br />
<strong>the</strong> challenge of executing this particular fund.<br />
Acting Permanent Secretary in <strong>the</strong> Division of Energy,<br />
Cora Richards, praised <strong>the</strong> partnership between EGFL <strong>and</strong><br />
Government; while <strong>the</strong> company’s Chief Executive Officer,<br />
Timothy Simmons, spoke of <strong>the</strong> ground-work already done to<br />
facilitate <strong>the</strong> fund’s components.<br />
“We did a lot of work over <strong>the</strong> past eight months in preparing<br />
an operating guide to set <strong>the</strong> framework for <strong>the</strong> implementation<br />
of <strong>the</strong> fund. Of <strong>the</strong> five components, three are ready for<br />
implementation. For instance, <strong>the</strong> technical assistance<br />
component for energy audit is ready<br />
to be rolled out, <strong>the</strong> hire purchase<br />
pilot scheme for consumers to<br />
purchase energy efficient appliances<br />
<strong>and</strong> <strong>the</strong> loan component for <strong>the</strong><br />
small <strong>and</strong> medium-sized enterprises<br />
sector is also ready,” Mr. Simmons<br />
surmised.<br />
Regarding <strong>the</strong> compact fluorescent <strong>and</strong> air condition unit<br />
schemes, <strong>the</strong> CEO <strong>said</strong> <strong>the</strong>se will be on hold until a policy<br />
was devised to oversee <strong>the</strong> disposal of <strong>the</strong> harmful effects<br />
of fluorescents <strong>and</strong> <strong>the</strong> ozone depleting gasses contained in<br />
defective air condition units.<br />
Mr. Simmons <strong>said</strong> that policy was being worked on by officials<br />
within <strong>the</strong> Division of Energy <strong>and</strong> would be rolled out shortly.<br />
(BGIS)
When in….Belize<br />
The Cultural Etiquette Critical for Success<br />
Greetings<br />
Belizeans are very friendly <strong>and</strong> gentle. Greet <strong>the</strong>m with a warm<br />
“hello” or “good morning” <strong>and</strong> treat <strong>the</strong>m with respect <strong>and</strong> your<br />
attitude will be reciprocated. In a more formal setting, avoid <strong>the</strong><br />
firm h<strong>and</strong>shakes you may get back home; a very gentle shake will<br />
do. Men typically have a simple oral exchange which would be<br />
accompanied by a h<strong>and</strong>shake in a formal or semi-formal setting.<br />
If <strong>the</strong> men have had prior dealings or know each o<strong>the</strong>r well, <strong>the</strong>y<br />
might also pat a shoulder or initiate some similar physical contact<br />
in greeting each o<strong>the</strong>r.<br />
Women similarly tend to have an oral exchange or shake h<strong>and</strong>s if<br />
<strong>the</strong> meeting takes place in a formal or semi-formal setting. If <strong>the</strong><br />
women have had prior dealings or know each o<strong>the</strong>r well, <strong>the</strong>n<br />
<strong>the</strong> greeting might also involve hugs <strong>and</strong> perhaps a brief touching/<br />
cheek to cheek or a light kiss on <strong>the</strong> cheek.<br />
In meetings between men <strong>and</strong> women greetings would be <strong>the</strong><br />
same as between men greeting men <strong>and</strong> women greeting women<br />
in formal or semi-formal settings.<br />
Once individuals develop greater familiarity or a working<br />
relationship, greetings might exp<strong>and</strong> to a light hug, a brief<br />
touching of cheeks or even a light kiss on <strong>the</strong> cheek.<br />
Where personal space is concerned, Belizeans are nei<strong>the</strong>r shy<br />
nor affectionate. In social settings, apart from greetings, <strong>the</strong>y tend<br />
Cultural Etiquette<br />
Modern business is global <strong>and</strong> dem<strong>and</strong>s people travel to foreign countries <strong>and</strong> mix with foreign<br />
clients, colleagues or customers. Each one of those cultures will also have <strong>the</strong>ir own etiquette<br />
rules, many of <strong>the</strong>m unwritten. When two or more different cultures mix, it is easy for small<br />
etiquette mistakes to be made that could have negative consequences. Not underst<strong>and</strong>ing <strong>the</strong> etiquette<br />
of ano<strong>the</strong>r culture can <strong>and</strong> does lead to soured relationships, lost deals <strong>and</strong> in <strong>the</strong> end poor business<br />
results. The <strong>Barbados</strong> Business <strong>Cat</strong>alyst explains <strong>the</strong> etiquette behind business dealings with Belize.<br />
not to touch one ano<strong>the</strong>r. Strong displays of affection are rare<br />
<strong>and</strong> are considered rude by some people.<br />
There is no specific ritual surrounding <strong>the</strong> giving <strong>and</strong> receiving of<br />
business cards.<br />
Titles<br />
Belizeans formally address each o<strong>the</strong>r in business <strong>and</strong> often use<br />
Mr., Mrs., or Miss (or Dr. when <strong>the</strong> individual has earned that<br />
designation). Sometimes, <strong>the</strong> person will use <strong>the</strong> Mr. etc. with<br />
<strong>the</strong> first name ra<strong>the</strong>r than <strong>the</strong> last name.<br />
First names are used among persons who are in <strong>the</strong> same relative<br />
business position. It is best to wait to be invited to address<br />
someone by <strong>the</strong>ir first name.<br />
Dress<br />
For both men <strong>and</strong> women, short sleeved shirts, shorts <strong>and</strong><br />
s<strong>and</strong>als are acceptable. Even <strong>the</strong> prime minister wears slacks <strong>and</strong><br />
a light shirt. People are generally more covered up, more for<br />
functional reasons than fashion.<br />
Longer clothing <strong>and</strong> covered shoes are commonly worn as<br />
protection against insects, <strong>and</strong> for <strong>the</strong> occasional chilly night.<br />
Belizeans dress most formally for church. Suits are common,<br />
though <strong>the</strong> majority of men wear black slacks <strong>and</strong> dress shirts,<br />
<strong>and</strong> women wear nice shirts <strong>and</strong> pants or long skirts.<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
31
Cultural Etiquette<br />
In business, dress is semi-casual. Long khaki pants <strong>and</strong> collared<br />
or knit shirts are <strong>the</strong> norm for men <strong>and</strong> long pants or skirts for<br />
women. S<strong>and</strong>als, but not flip-flops, are perfectly acceptable.<br />
Conversation<br />
Belizeans tend not to be direct or get to <strong>the</strong> point quickly. They<br />
also dislike confrontation. Typically, any dialogue or meeting will<br />
begin first with an exchange of small talk, which would begin by<br />
saying “good morning” or “good afternoon” or <strong>the</strong> like <strong>and</strong> might<br />
cover some neutral subjects such as wea<strong>the</strong>r or a vague inquiry<br />
about each o<strong>the</strong>r’s general well-being.<br />
When addressing issues, <strong>the</strong> propensity is to use a ra<strong>the</strong>r formal<br />
framework that may entail first defining historical background,<br />
relevant documents, <strong>and</strong> <strong>the</strong> like, or even outline how <strong>the</strong> issue<br />
will be approached before zeroing in on <strong>the</strong> topic at h<strong>and</strong>.<br />
Generally, Belizeans will say what <strong>the</strong>y mean in a tactful way<br />
but will avoid or be ra<strong>the</strong>r circumspect about communicating<br />
any negatives, consistent with <strong>the</strong>ir propensity to avoid<br />
confrontation.<br />
There are a few things that should be left out of casual<br />
conversation. Belizeans don’t appreciate it when tourists <strong>and</strong><br />
expatriates start telling <strong>the</strong>m what’s wrong with Belize <strong>and</strong> how<br />
to fix it. Politics, race <strong>and</strong> religion are taken very seriously <strong>and</strong> are<br />
often taboo subjects.<br />
Appropriate small talk topics include: family, sports, Belizean<br />
<strong>and</strong> places of interest. Keep in mind, too, that Belize is a small<br />
country <strong>and</strong> word travels fast. Be careful if you talk about<br />
someone negatively, as <strong>the</strong> person you’re talking to might know<br />
<strong>the</strong>m.<br />
32 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July April - - September June 2011 2011<br />
Dining<br />
Belizeans typically eat three meals a day, breakfast in <strong>the</strong><br />
morning, lunch around noon, <strong>and</strong> dinner in <strong>the</strong> evening. Lunch is<br />
<strong>the</strong> largest <strong>and</strong> most important meal of <strong>the</strong> day. Businesses are<br />
usually closed for an hour or two for lunch <strong>and</strong> people often head<br />
home to eat with <strong>the</strong>ir families. Dining is usually very casual <strong>and</strong><br />
dressing up, though perfectly acceptable, is very rarely expected.<br />
Appointments<br />
Punctuality isn’t expected. Starting a business meeting on time<br />
is rare. The starting time for meetings is often set with <strong>the</strong><br />
expectation that few people will arrive on time.<br />
If <strong>the</strong> agenda says 8:00 a.m., it would not be unusual for <strong>the</strong><br />
meeting to actually start at 8:30 or 9:00 a.m. <strong>and</strong> attendees might<br />
still be coming in after <strong>the</strong> meeting has been called to order. This<br />
attitude toward punctuality prevails whe<strong>the</strong>r in business or social<br />
settings. Similarly, strict schedules are not followed by buses,<br />
<strong>the</strong> primary form of transportation.<br />
In many instances, bus schedules are not formally posted, <strong>and</strong><br />
even when posted, are not necessarily followed. If you have<br />
a deadline or appointment, o<strong>the</strong>rs may arrive late, but it’s<br />
courteous to show up on time <strong>and</strong> meet deadlines as often as<br />
possible.<br />
Negotiating<br />
Decisions tend to be reached from <strong>the</strong> top down <strong>and</strong> can take<br />
a while. Be prepared to have several meetings to reach a final<br />
decision. Arriving on time for meetings is important even though<br />
you may be kept waiting. Beginning with small talk helps establish<br />
a base for <strong>the</strong> relationship, after which discussion of business<br />
matters can begin. It is best to allow your host to begin <strong>the</strong><br />
business discussion.<br />
Gifts<br />
Gifts are generally not expected in business situations. If invited<br />
to a Belizean’s house, it is appropriate to bring wine, spirits, or<br />
some type of dessert.
<strong>Barbados</strong>/Guatemala<br />
discuss trade relations<br />
SThe future of <strong>Barbados</strong>/Guatemala relations was<br />
discussed when Minister of Commerce <strong>and</strong> Trade,<br />
Senator Haynesley Benn met with Guatemala’s<br />
Ambassador to <strong>Barbados</strong>, Guisela Godinez Sazo.<br />
Minister Benn stated that he hoped to establish greater<br />
trade linkages with <strong>the</strong> Central American country,<br />
while <strong>the</strong> Ambassador agreed that a commercial<br />
relationship could prove beneficial for both nations.<br />
<strong>Barbados</strong> <strong>and</strong> Czech Republic sign DTA<br />
<strong>Barbados</strong> has entered into a Double Taxation<br />
Agreement (DTA) with <strong>the</strong> Czech Republic.<br />
Attorney-General <strong>and</strong> Acting Minister of International<br />
Business <strong>and</strong> International Transport, Adriel Brathwaite,<br />
signed <strong>the</strong> official documents at <strong>the</strong> Government’s<br />
Warrens Office Complex. In his remarks, he <strong>said</strong> <strong>the</strong><br />
agreement “symbolises <strong>the</strong> efforts of [<strong>the</strong>] Government<br />
to strategically enhance investment flows between both<br />
countries <strong>and</strong> deepen our bilateral relationship.”<br />
The Minister reported that <strong>the</strong> DTA, as envisioned by<br />
Government, would boost trading opportunities <strong>and</strong> eventually<br />
increase economic prosperity for <strong>the</strong> citizens of both<br />
countries. He noted it would also facilitate “tax cooperation<br />
<strong>and</strong> cross border trade in goods <strong>and</strong> services, while ensuring<br />
that <strong>the</strong> treaty partners are able to recognise <strong>the</strong> monetary<br />
benefits of private sector driven commercial activity.”<br />
Ambassador of <strong>the</strong> Czech Republic to <strong>Barbados</strong>, Edita Hrda,<br />
described <strong>the</strong> agreement as a catalyst for <strong>the</strong> development<br />
of bilateral relations between <strong>the</strong> two countries. “<strong>Barbados</strong>,<br />
for us [<strong>the</strong> Czech Republic] is a strategic partner in this<br />
Australian Honorary Counsel<br />
Established in <strong>Barbados</strong><br />
Australia has been added to <strong>the</strong> list of countries<br />
represented by an Honorary Consul in <strong>Barbados</strong>.<br />
In an official ceremony on Tuesday, August 16, <strong>Barbados</strong>’<br />
Chief of Protocol, Hughl<strong>and</strong> Allman, presented an exequatur<br />
to Stuart James Gardiner at <strong>the</strong> Ministry of Foreign Affairs,<br />
Culloden Road, St. Michael.The legal document will permit Mr.<br />
Gardiner to commence his duties as Honorary Consul, thus<br />
streng<strong>the</strong>ning <strong>the</strong> existing ties between Australia <strong>and</strong> <strong>Barbados</strong>.<br />
Trading <strong>Development</strong>s<br />
The possibilities of exports <strong>and</strong> imports, as well as training<br />
opportunities, were highlighted as areas of interest<br />
which should be investigated. The Commerce Minister<br />
<strong>said</strong>: “We look forward to developing our linkages...<br />
may it be in agriculture, manufacturing, services... [We<br />
are] always looking for new areas of opportunity.”<br />
<strong>Barbados</strong> <strong>and</strong> Guatemala established<br />
diplomatic ties on January 27, 1992.<br />
part of <strong>the</strong> Caribbean <strong>and</strong> Latin America because you<br />
are really our biggest trade partner,” she <strong>said</strong>.<br />
The Czech Ambassador highlighted some of <strong>the</strong> benefits<br />
<strong>Barbados</strong> would see including Czech investors coming<br />
to <strong>the</strong> isl<strong>and</strong> to do business. With respect to tourism,<br />
she noted: “The Czechs are enthusiastic travellers, so<br />
<strong>the</strong>y are discovering <strong>the</strong> Caribbean <strong>and</strong> <strong>Barbados</strong> <strong>and</strong><br />
I think this is very important for our relations.”<br />
Between 2001 <strong>and</strong> 2005, <strong>Barbados</strong>’ major domestic<br />
exports to <strong>the</strong> Czech Republic consisted of: contact<br />
lenses; spectacles <strong>and</strong> goggles; rum; articles for packaging<br />
<strong>and</strong> lenses for glasses. Principle imports from <strong>the</strong> Czech<br />
Republic included: motor cars; tyres for buses <strong>and</strong> lorries;<br />
herring-bone tyres for tractors; tyres for motor cars’ good<br />
vehicles; <strong>and</strong> o<strong>the</strong>r accessories for motor vehicles.<br />
Moreover, Ms. Hrda declared: “The only one thing<br />
we have now to hope is that our businessmen <strong>and</strong><br />
your businessmen will take it seriously <strong>and</strong> <strong>the</strong>y will<br />
see <strong>the</strong> open door to both of our countries.”<br />
The Honorary Consul for Australia, who has been residing<br />
in <strong>Barbados</strong> for <strong>the</strong> past 16 years, <strong>said</strong> he looked forward<br />
to serving as his country’s representative in <strong>Barbados</strong>.<br />
The Australian Consulate will be located on <strong>the</strong> 2nd Floor,<br />
Cedar Court, Wildey Business Park, Wildey, St. Michael <strong>and</strong><br />
may be contacted at telephone number 246-434-1133.<br />
<strong>Barbados</strong> <strong>and</strong> Australia established diplomatic ties in January 1974.<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
33
Industry By Numbers<br />
DOMESTIC EXPORTS JANUARY - JUNE 2010 / 2011<br />
34 <strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
30,602,943<br />
32,483,958<br />
19,105,585<br />
20,414,372<br />
9,208,921<br />
12,699,055<br />
7,042,437<br />
8,179,651<br />
17,872,735<br />
11,744,957<br />
148,695<br />
366,632<br />
3,387,804<br />
3,839,135<br />
4,985,125<br />
4,699,739<br />
1,549,701<br />
1,819,814<br />
9,445,051<br />
10,306,440<br />
37.90%<br />
16.15%<br />
146.57%<br />
13.32%<br />
17.43%<br />
6.85%<br />
6.15%<br />
6,529,325<br />
6,827,978<br />
8,471,562<br />
8,575,196<br />
2,055,837<br />
3,189,912<br />
153,611<br />
239,062<br />
3,099,149<br />
2,559,609<br />
563,928<br />
841,783<br />
14.41%<br />
168,884,471<br />
193,226,347<br />
13.68%<br />
55.63%<br />
8,379,107<br />
10,139,336<br />
2,641,325<br />
3,238,071<br />
55.16%<br />
4.57%<br />
1.22%<br />
-34.29% -17.41%<br />
-5.72%<br />
9.12%<br />
49.27%<br />
21.01%<br />
33,641,630<br />
51,061,647<br />
22.59%<br />
51.78%<br />
225,494,109<br />
256,345,241
EMPLOYMENT IN MANUFACTURING SECTOR AT JUNE 2010/2011<br />
JUNE 2010 JUNE 2011 NET CHANGE % CHANGE<br />
3,531 -1.93%<br />
3,463 -68 *<br />
-2.63%<br />
-15 *<br />
570<br />
555<br />
-2.63%<br />
23 *<br />
361<br />
384<br />
-1.09%<br />
-8 *<br />
732<br />
724<br />
-1.28%<br />
-5 *<br />
392<br />
387<br />
- 4.35%<br />
-9 *<br />
207<br />
198<br />
DISTRIBUTION OF INVESTMENT IN MANUFACTURING SECTOR AT JUNE 2010/2011(BDS$)<br />
3,133,493<br />
-82.1%<br />
560,125<br />
640,893<br />
-100.0%<br />
0<br />
32,400<br />
-95.5%<br />
1,457<br />
100.0%<br />
153,320<br />
332,639<br />
795,869<br />
-92.1%<br />
62,977<br />
4,050<br />
-100.0%<br />
0<br />
-16.51%<br />
-175 *<br />
1,060<br />
885<br />
100.0%<br />
507,811<br />
1,696,865<br />
13.36%<br />
114 *<br />
853<br />
967<br />
100.0%<br />
13,640<br />
259,951<br />
15.98%<br />
27 *<br />
169<br />
196<br />
-51.5%<br />
14,910<br />
7,229<br />
-5.88%<br />
-14 *<br />
238<br />
224<br />
-65.1%<br />
5,923<br />
2,067<br />
-1.63%<br />
2 *<br />
123<br />
121<br />
-62.0%<br />
13,500<br />
275,500<br />
Industry By Numbers<br />
3.33%<br />
5 *<br />
150<br />
155<br />
26,347<br />
-33.0%<br />
1,064,260<br />
8,386<br />
8,259<br />
-1.51%<br />
-127*<br />
5,342,156<br />
4,262,070 -20.22%<br />
TOTAL<br />
<strong>Barbados</strong> Business <strong>Cat</strong>alyst • July - September 2011<br />
35