01.12.2012 Views

said the Cat. - Barbados Investment and Development Corporation

said the Cat. - Barbados Investment and Development Corporation

said the Cat. - Barbados Investment and Development Corporation

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

GET YOUR<br />

FINANCE<br />

DEPARTMENT<br />

IN SHAPE<br />

FIND OUT MORE ABOUT<br />

THE GLOBAL BODY FOR<br />

PROFESSIONAL ACCOUNTANTS<br />

�����������������������<br />

��������������������������<br />

������������������������<br />

�������������������������<br />

���������������������������<br />

��������������������<br />

��������������������������<br />

�������������������������<br />

����������������������������<br />

���������������������������<br />

�������������������������<br />

������������������������<br />

�������������������������<br />

���������������������������<br />

��������������������������<br />

���������������������������<br />

�������������������������<br />

������������<br />

����������������������<br />

������������������������


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

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!