Micro, Small & Medium Enterprise Development in the Caribbean: Towards A New Frontier - | 90
on behalf of the private sector as a whole, and is a model worthy of emulating across the Region. Such a framework would impart considerable strength to the regional MSME sector which, in the main, is representationally weak. BUSOS was established as a Foundation in 2002 with the mandate to drive the Strategic Plan and strengthen KKF, by delivering value-added business support services in a commercially sound manner. BUSOS has an 11-member Board of Directors and its President sits on the board of the KKF. Project implementation was timely and as a result:
• Delivery of relevant training and technical support programmes to members and nonmembers; • Negotiation and delivery of several donor agency-funded and private sector projects that bring value to KKF members and other customers; • Building effective networks and linkages with organisations throughout the Caribbean and beyond; and • Continuous management of national trade fairs, exhibitions and missions.
1. Since January 2006, the One Stop Window− an updated comprehensive database as part of the KKF’s Information System−has been in place, linked to automated systems in related Government agencies. The time taken for acquiring business licences has been reduced considerably through a simplified KKF-assisted process. Business licences are now being issued by the Ministry of Development and Planning and the (rural) District Commissioners within 30 days. All other licenses are issued within a fortnight by the Chamber.
In 2016, BUSOS continues to operate as an efficient, responsive, self-sustaining development organisation that serves the needs of MSME entrepreneurs throughout Suriname. The sustainability of BUSOS is a point worthy of note. This is due to the fact that while it charges fees for its services, these reportedly are not high and hence affordable. Resolution of the issues of financial capacity and sustainability of regional BSOs is one that needs to be urgently addressed if the MSME sector is to grow and thrive.
2. The KKF is the official Registry of all businesses. The Trade Registry captures comprehensive data of all companies in Suriname. 3. BUSOS produces and manages trade fairs and donor projects; develops proposals; and coordinates training activities. It organises activities relating to financial services sector modernisation, including new bank and credit union products. 4. A Small Enterprise Financing programme, cofunded by the IDB and the HAKRIN Bank, has been implemented by KKF-BUSOS. Key factors which have contributed to the success of BUSOS as a best practice development centre are: • Operating in a commercially sound manner to ensure long-term financial viability of its operations;
Other private sector organisations providing business services to MSEs in Suriname are industrial associations, the Suriname Business Forum and Vocational Training Centres. Membership of the business associations comprises both large firms and SMEs, and provide business development services to their membership. This training is often done in collaboration with the donor community, for example, ILO, CARICOM and other organisations. The training focuses on ICT development; research and development; business clustering; certification; human resource management; and market intelligence, for example, with respect to CARICOM and the EU. The Suriname Business Forum (SBF), established as a PPP to advance public and private sector dialogue in relation to policy, similar to the Jamaica MSME Alliance, is another institutional development worthy of emulation in the Caribbean with respect to advocacy on behalf of MSMEs.