Issuu on Google+


[CONTENTS] [News] 6 consolidated bakeries ipo oversubscribed

Consolidated Bakeries (Jamaica) Limited, makers of the popular Purity, Miss Birdie and Hearty Goodness brands, became the 15th company to list on the Jamaica Stock Exchange Junior Market on Tuesday, November 13.

8 microsoft jamaica to launch windows 8 ON NOVEMBER 22

Microsoft had the international launch of its new operating system, Windows 8, late last month and since then, reviews have been generally positive. Reputable online sources like mashable.com have lauded the new product, especially in terms of design, interconnectivity and apps. The OS will officially be launched in Jamaica on Thursday, November 21.

9 spotlight on the 50underfifty awards

The Jamaica 50 celebrations continue this month with the PSOJ/ Gleaner’s 50UnderFifty Awards.

[ c o v e r s t o ry ]

[business lounge] 15 joe kiani – what it takes to be an entrepreneur

If you are unfamiliar with the name and reputation of Joe Kiani, you might think he looks a bit like a medical doctor at first glance. There is an air of compassion and care about him and his obvious love for humanity is evident in his every word.

[insights] 17 jamaica tomorrow: the death of traditional media?

If you’ve heard it once, you’ve heard it a million times: traditional media is dying and online is the only way to go.

10 doing business in jamaica Jamaica has recorded its eighth consecutive year of decline in the 2013 Doing Business report, produced by the International Finance Corporation and the World Bank. The country slipped five places to 90 in the rankings, amongst the 185 economies surveyed. This decline comes despite an 11-point jump in rankings to 16 in the category of paying taxes and holding firm in terms of starting a business (21) and dealing with construction permits (50).


[do good] 18 caribbean broilers: providing opportunities for those in need

It is not unusual for corporate companies to reach out to those in need. In today’s uncertain economic climate, corporate social responsibility is a must, especially for companies to ensure good relations with their customers.

[editor’s note] O n d o i n g b u s i n e s s i n Ja m a i c a

T

his year, Jamaica will mark Global Entrepreneurship Week from November 12-16 with a number of activities planned by ministries, schools, colleges and various professional bodies. Speakers will no doubt extol the entrepreneurial spirit of Jamaicans from all walks of life while eager students and aspiring entrepreneurs will lap up the success stories and advice. However, somewhere in the backs of their minds, a niggling of uncertainty may arise, stemming from the fact that Jamaica is becoming increasingly known as a difficult place to start and sustain a business. The 2013 Doing Business report certainly shows this, as Jamaica has, for the eighth year running, recorded a decline in the rankings. This time, we have fallen to 90 out of 158 countries, down five positions from 85 last year. This is a worrying trend for anyone doing business in Jamaica. In our current financial straits, Jamaica cannot afford to keep treading this dangerous downward slope. Foreign direct investments (FDIs) make up a key sector of the economy and continuously poor ranking might adversely affect these opportunities. Additionally, we are constantly told that entrepreneurship is the only sure way to drive economic growth, yet conditions exist that stymie these efforts.

[ s ta r t u p s ]

If Jamaica truly wants to make a sustainable step towards any semblance of economic wellbeing, the government and state agencies must take decisive steps to streamline the process of starting and registering businesses (which is important for tax purposes) while providing more options for funding and support. Corporate leaders must do all they can to encourage this, while ensuring that their own operations are above board. No one can deny that Jamaica has tremendous untapped potential for entrepreneurship. We just have to move beyond the talking stage and take the necessary action to secure our future.

20 kristina kerr: it’s all about me

Who is a marketer, really? One definition claims it as an individual who effectively communicates the value of a service or product to consumers. A marketer should, therefore, be well equipped with enough business savvy and people skills to engage consumers. If all this is the case, then Kristina Kerr, founder of Market ME, a new public relations, marketing and event management company, fits the bill.

Tracey-Ann Wisdom


[news]

Consolidated Bakeries launches IPO Following the success of the company’s IPO, plans will go ahead to use the capital raised to further its operations. These plans include retooling and improving operational processes; installing new computerised route management systems to improve distribution and strengthening its balance sheet by increasing working capital and reducing debt levels. “Without a doubt, we think it is the best IPO to come to market so far this financial year. It’s a 57-year-old company, a solid brand and it’s almost like it’s been revitalised,” said Mark Croskery, president and CEO of SSL. This revitalisation includes new packaging, new products such as whole wheat crackers and cinnamon danish and a wider distribution network that now takes CBL goods into more Kingston markets as well as further across Jamaica. However, the most important aspect for the investors was the company’s strong financial and asset rich position. From 2011 audited figures, CBL made $22 million and has recorded nine million dollars in gross profit for the first quarter of this year. “Unlike other junior companies that have raised money but they don’t have too much cash, Purity has a lot more ways to access capital after the IPO. That provides tremendous upside,” Croskery said. This includes the company’s 4.5 acres of real estate near Red Hills Road, which can be leveraged in several ways for a cash windfall, such as selling or leasing part of the property.

Mark Croskery, president and CEO of Stocks and Securities Limited

C

onsolidated Bakeries (Jamaica) Limited, makers of the popular Purity, Miss Birdie and Hearty Goodness brands, became the 15th company to list on the Jamaica Stock Exchange Junior Market on Tuesday, November 13. The company, which was represented by Stocks and Securities Limited (SSL), offered 51,805,171 shares (23.6 per cent of the company) at $1.88, raising $97 million. However, the IPO was oversubscribed by four per cent, raising in excess of $101 million.

6

Your Money eZine

Another attraction for savvy investors was the strength of the board of directors, which is comprised of Vincent Chang, Keith Collister, Nicola Chang Murphy, Noel daCosta, Thomas Chin, Philmore Ogle and managing director Anthony Chang, whose family owns CBL. He is formerly of the Lasco Group of Companies and is credited with improving their business as well as preparing them for listing on the Junior Market in October 2010. Consolidated Bakeries began in 1957, when three family-owned bakeries came together: Valentine Bakery, owned by the Changs; Powell’s Bakery, owned by the Powell family and Huntington Bakery, owned by the Seivwright Family. Over its 55 years of operation, the company has developed more than 1,000 customer accounts, primarily in the Kingston area. These customers are serviced sales employees and contract workers. Overall, Consolidated Bakeries employs 120 people.

www.ezinesreader.com


Microsoft jamaica to launch Windows 8 on november 22

M

icrosoft had the international launch of its new operating system, Windows 8, late last month and since then, reviews have been generally positive. Reputable online sources like mashable.com have lauded the new product, especially in terms of design, interconnectivity and apps. The OS will officially be launched in Jamaica on Thursday, November 21. Windows 8, currently available for download to upgrade existing PCs in more than 140 markets and 37 languages at Windows.com. “Whether you want a tablet or a PC, whether you want to consume or create, whether you want to work or play, Windows 8 delivers a personalised experience that fits your unique style and needs,” said Marcelle Smart, Microsoft country manager for Jamaica. The new OS will be available in three versions, Windows 8, Windows 8 Pro and Windows 8 Enterprise, for business customers. Enterprise offers mobile productivity with features like Windows To Go, which allows the system to boot and run from mass storage devices such as USB flash drives or external hard drives; DirectAccess, a virtual private network (VPN)like technology that provides automatic intranet connectivity as soon as the computer connects to the Internet; and BranchCache, which enables content from file and web servers on a wide area network (WAN) to be cached on computers at one location (branch office). It also features enhanced end-to-end security with BitLocker, which provides full disk encryption functionality and AppLocker, which allows you to specify which users or groups can run particular applications. Launching at the same time is Windows RT, which will be available pre-installed on new devices. Windows 8 features the new fast and fluid start screen that gives people one-click access to the apps and content they care most about, the entirely new Internet Explorer 10 that is perfect for touch and built-in cloud capabilities with SkyDrive. Microsoft has also incorporated Skype capabilities into the platform, after Skype 6.0 for Mac and Windows was released. This latest version of the software gave Messenger enables Messenger users to sign in using a Microsoft account. “This will offer Messenger users a broad communications portfolio as we plan to retire Messenger in the first quarter of

8

Your Money eZine

www.ezinesreader.com


[news]

(L-R): Rezworth Burchenson, Managing Director of CEO of Prime Asset Management Ltd; Marcus James, founder and CEO of Access Financial Services Ltd; Sandra Glasgow, CEO of the PSOJ; Imani Duncan, Group Marketing Manager of the JMMB Group; and Patrick Hylton, Group Managing Director of National Commercial Bank, on the set of Conversations with 50UnderFifty.

Spotlight on the 50underFifty Awards

T

he Jamaica 50 celebrations continue this month with the PSOJ/Gleaner’s 50UnderFifty Awards. The innovative awards, which is the first of its kind in Jamaica, will recognise 50 business leaders under 50 years of age, who, based on their current contributions to the business community and the country, are expected to make a significant impact on Jamaica’s civic and business landscape in the near future. The 50 awardees were chosen by independent judges who made their choices based on certain criteria, including, having a business that has been in operation for at least three years in a sector that represents the Jamaican economy. Awardees must be fully tax compliant and must demonstrate corporate social responsibility, job creation and innovative practices in their businesses, among other stipulated conditions. The 50 were placed in groups of five, based on the industries that their businesses represent, as well as their personal interests. The categories are: 1. The ‘Shot’ Callers (filmmakers) 2. The Entrepreneurs 3. The Producers 4. The Innovators 5. The Game Changers 6. The Power Brokers 7. The Educators 8. The Financiers

Your Money eZine

9. The Pleasure Tycoons 10. The Imaginators The full list of awardees is being revealed in weekly features on each group. Profiles on the business leaders began appearing in the Gleaner on September 28 and will continue weekly until November 29, when the programme culminates in a black tie event at the Wyndham Kingston Hotel. For a more in-depth look, watch Flow Channel 100, Thursdays at 9pm, for two 15-minute episodes of Conversations with 50UnderFifty, where the awardees speak candidly about their respective businesses, backgrounds and how they hope to contribute to the growth and development of the Jamaican economy. The show repeats Sundays at 5:30pm and Tuesdays at 8pm. The Gala Awards Banquet of the PSOJ/Gleaner 50zUnderFifty Awards will be held at the Wyndham Kingston Hotel, Thursday, November 29, beginning at 7pm. The guest speaker will be Dr Freeman Hrabowski III, president of the University of Maryland Baltimore County (UMBC) and one of TIME magazine’s 100 Most Influential Leaders of 2012. Hrabowski has spent 20 years as president of UMBC, transforming a humble commuter school into one of the leading sources of African American PhDs in science and engineering in the United States. For tickets, please call the PSOJ at 927-6931 or 927-6238.

www.ezinesreader.com

9


[business lounge] r e a l b u s i n e s s . r e a l ta l k


Christopher Zacca, president of the Private Sector Organisation of Jamaica

J

amaica has recorded its eighth consecutive year of decline in the 2013 Doing Business report, produced by the International Finance Corporation and the World Bank. The country slipped five places to 90 in the rankings, amongst the 185 economies surveyed. This decline comes despite an 11-point jump in rankings to 16 in the category of paying taxes and holding firm in terms of starting a business (21) and dealing with construction permits (50).

Doing business in

jamaica Your Money eZine

www.ezinesreader.com

11


12

This latest dip in the ranking comes as little surprise to Jamaicans doing business in the country, but it is no less disappointing. “Confidence is an important investment driver in any economy for citizens, and plays an important role in what they do with their monies; for example, how they invest, whether businesses expand or hold net cash,” said Mark Croskery, President & CEO of Stocks and Securities Limited (SSL). Impact on local and foreign direct investments He added that the report is more likely to impact foreign direct investments (FDIs). Local investments will not be negatively affected, Croskery said, as Jamaicans generally know what to expect and work around the challenges, despite their frustrations. As the leader of one of the main brokers taking small and medium enterprises (SMEs) public via the Jamaica Stock Exchange Junior Market, he also cited the variety of opportunities available for local investors in companies representing industries like tourism, manufacturing and entertainment. “Being in the lower half of the list is not a

Your Money eZine

good thing for investors in Jamaica as well as overseas investors,” said Christopher Zacca, president of the Private Sector Organisation of Jamaica (PSOJ). He remarked that foreign investors often look at the Doing Business report to evaluate a country’s suitability before deciding to make a move, but they also typically conduct their own on-theground research. “I think the bigger issue is that clearly, it reflects a reality of various impediments in the bureaucratic landscape of Jamaica to effectively starting and operating a business and that is of great concern to us at the PSOJ… For us, the real issue is how do we now improve all these areas,” he added. The tax issue The issue of taxes has been a contentious one over the past few years, especially since 2012, as the government moved to finalise reform procedures. A raft of new tax measures took effect in June, including cutting corporate income tax for unregulated companies from 33.3 per cent to 25 per cent and requiring all registered businesses to pay a flat fee of $60,000 per year, in a move designed to

halt tax evasion. However, the report’s data are current to June 1, so these measures would not have been taken into consideration. What caused the uptick was the fact that the Tax Administration made it easier for companies by allowing joint filing and payment of all social security contributions. Business owners like Croskery have noted the improvements, but he feels more can be done, especially in terms of paying multiple statutory deductions. “The system needs to move to a single tax for items like this. However, that would take agency re-structuring. This would make less paper, less administrative work and less expenses on businesses,” he said. “On the face of it, it seems there needs to be significant time spent on enterprise wide systems in Jamaica that capture one’s Taxpayer Registration Number (TRN), looking at processes to be streamlined and reduction of [paperwork].” Steps to take The Doing Business report surveys countries in 10 areas: starting a business, dealing with construction permits, getting electricity, registering property, getting

www.ezinesreader.com


13

credit
, protecting investors, paying taxes, trading across borders, enforcing contracts
 and resolving insolvency. Following another poor ranking, Zacca said Minister of Industry, Investment and Commerce, Anthony Hylton has informed private sector leaders that he is focusing on these areas as a means of “measuring the improvement of bureaucracy in creating a business-friendly environment.” One measure has been to start a bureaucracy hotline for people to report problems with doing business. Zacca also noted that the PSOJ has been advocating on behalf of businesses in a number of these areas: •

• •

Construction permits: The PSOJ has partnered with the Chamber of Comsmerce over the last five years to aggressively work with the government to improve procedures and systems. More progress is needed at the Parish Council level. Registering property: The organisation has been pushing land titling reform. Efforts are being made to reduce the cost and improve the efficiency of registering through the Land Administration and Management Programme (LAMP) Project and the National Land Agency. Getting credit: The PSOJ has been pushing for the establishment of credit bureaus and is advocating for a Secured Transactions Act to allow businesspeople to use a wider variety of assets to secure bank loans. This is especially important for small businesses. Paying taxes: The organisation’s tax reform working group is still active. Trading across borders: The PSOJ’s Trade Policy Committee is working more closely with the Jamaica Exporters’ Association (JEA) to help advocate for easier trade rules. Resolving insolvency: The PSOJ has presented draft legislation to the government that would allow companies to reform and restructure under supervised conditions, similar to Chapter 11 in the USA. “Being insolvent doesn’t doom a company to being out of business, but allows it to restructure, find its footing and move forward,” Zacca said.

Your Money eZine

KEY

www.ezinesreader.com


15

I

f you are unfamiliar with the name and reputation of Joe Kiani, you might think he looks a bit like a medical doctor at first glance. There is an air of compassion and care about him and his obvious love for humanity is evident in his every word. Of course, Kiani is not a doctor, although he has spent the last 23 years inventing and developing medical technologies that have revolutionised patient care around the world. With more than 50 registered patents, he is also a trained electrical engineer who parlayed his love for breaking things down (from his childhood days of deconstructing his toys) into building the well regarded medical technology company Masimo Corporation. Kiani and his business partner, Mohammed Diab, used his expertise in signal processing capabilities (most commonly used in anti-submarine technology) to solve one of the biggest problems plaguing pulse oximetry (a non-invasive method of monitoring the saturation of a patient’s haemoglobin): how to prevent the machines from giving false measurements. These could be caused by something as simple as patient movement, thus making it difficult for clinicians to offer the right amount of oxygen. These errors were especially detrimental to babies – in the US would go blind each year, he said.

Among the key lessons Kiani imparted to the audience of entrepreneurs and professionals were: Create a track record that people can trust and believe in. It was Masimo’s reputation of innovation and results that allowed the company to launch a successful IPO on the NASDAQ market in 2007. Attract people who are smarter than you to your team. “I look for purists – people who love what they do and money is secondary to them. I look for people who are creative and detail oriented and… passionate about patient care. One passionate person is better than 100 that are just going through the motions,” he said. Form a set of strong guiding principles. Masimo is guided by a simple mission to improve patient outcomes and reduce the cost of care, but early on Kiani devised five principles that have served the company well over the years: * Remain faithful to your promises and responsibilities. * Thrive on fascination and accomplishment and not on greed and power. * Strive to make each year better than the year before both personally and for the team. * Make each day as fun as possible. * Do what is best for patient care.

alone, some 2,000

“We created what we call ‘measure-through motion low perfusion pulse oximetry’. We created a technology that allows non-invasive measurements of arterial blood oxygen. That was there before we got here, but the problem was these [older] monitors stopped working when you needed it most – when the patient was very sick, at low perfusion,” Kiani explained. Low perfusion means that enough blood is not being circulated through the vessels of a particular organ. Today, Masimo has created a number of related medical technologies and is a publicly listed company with some 2,500 employees in some 20 countries. Kiani was in Jamaica last month to share some of the lessons learned from his years of experience. He was speaking to an eager audience at an event called ‘What it takes to be an entrepreneur’, organised by his friend Suzie Berry’s company, Whisky Productions. Being a medical technology pioneer, Kiani did not leave Jamaica without visiting at least one hospital. He spoke highly of the medical team at the University Hospital of the West Indies (UHWI) and the work they are able to do without much of the latest technology. There are also opportunities for local scientists and engineers to become entrepreneurs in the field as well. “I

Your Money eZine

think entrepreneurs should be looking at these hospitals and saying, ‘how do we make sure we make the technologies here that are just as good as anywhere else in the world? And if we can’t, how do we work with companies outside of Jamaica to find creative ways to get the best technologies here?’” Kiani said. “Medical technology companies like Masimo work in US and Europe primarily, but there is an opportunity that we could do more for countries like Jamaica with far less problems, as long as [local entrepreneurs] can sustain it,” he added, encouraging those with well-structured ideas to look at ways to approach these companies to work out arrangements. He also expressed interest in investing in local opportunities that line up with his values of making life better for people.

www.ezinesreader.com


17

Jamaica tomorrow:

[insights]

The death of traditional media?

I

f you’ve heard it once, you’ve heard it a million times: traditional media is dying and online is the only way to go. As an online media company, the first of its kind in the country, we have constantly been extolling the virtues of our platform. Traditional media houses, not to be outdone, are also ramping up their own Internet presence, creating e-papers, posting web videos and allowing online broadcasting (both TV and radio). But is that enough? Those of us who follow the international trends know that the answer is ‘no’. You know that 80s song, Video Killed the Radio Star? Well, the Internet is killing traditional media. Companies are no longer pumping big money into advertising, which is the lifeblood of media companies. With websites and social media sites, customers can now interact with these brands directly. Additionally, the freedom of the Internet means that everyone has the option to create their own news, entertainment and sports sites, such as blogs. People can listen to Internet radio, which is largely ad-free. There is also content aggregation (eg. Gawker) and live-blogging, so you don’t have to wait to read about events in the next day’s paper. In most cases, unlike traditional media, this can all be done for free.

People still need news from credible, onthe-ground sources and the paper has also developed a strong web presence – down to the iconic crosswords – and charges for access to premium content. Irascible Times journalist and staunch defender, David Carr, proudly declared that the paper is “fully engaged in the revolution”, with some 100 monthly videos and 80 blogs, which gets them 17 million readers per month. Going into the future, we predict that a similar shift will happen in Jamaica. It won’t be now, as many pockets of the population still don’t have Internet access, but sooner rather than later, additional digital media companies will join the landscape and newspapers, radio and television stations will follow suit as expensive ad spending is scaled back even further. What do you think the future of business in Jamaica will look like? Send your comments to info@ joinemedia.com or post a comment on Facebook or on Twitter using the hashtag #JAin50Years.

You know that 80s song, Video Killed the Radio Star? Well, the Internet is killing traditional media.

Social media have also changed how information is shared and consumed - for instance, Twitter has also broken major news stories like the Hudson River plane landing via an eyewitness report. Additionally, Wikileaks has exposed more international relations controversies than the most ardent investigative journalist over the last year two years or so. This steady crumbling of the appeal of traditional media, especially as it relates to news, is explored in Page One, the brilliant documentary about how the venerable New York Times has survived – though struggling – as many other well-known papers have folded due to the advertising drought. Most recently, after 80 years of publishing, the last print edition of Newsweek magazine will be the December 31st issue as it goes fully digital. But somehow, the Times stays hanging on. Your Money eZine

www.ezinesreader.com


19 [DO GOOD]

Caribbean Broilers: Providing opportunities for those in need

By Sean A Bennett

CB Pan Chicken competition contestant, Patricia Morrison

I

t is not unusual for corporate companies to reach out to those in need. In today’s uncertain economy, corporate social responsibility is a must, especially for companies to ensure good relations with their customers. Caribbean Broilers has supported various initiatives for a number of years, primarily through its flagship brand, CB Chicken. The company’s philanthropy will again be on display at CB Group/UWI 5K walk/ run on Sunday, November 18 at the University of the West Indies, Mona Bowl, commencing at 7am. According to Kimberley Mullings, brand manager of CB Chicken, Chippenham Eggs and Smart Eggs, the company was approached by the Grand Jamaica Homecoming Committee to be a part of its legacy event. The committee is an initiative of Jamaica Homecoming Canada, which encourages Canadians of Jamaican origin and others to connect with the country in our 50th year of independence. “When we found out what the purpose of the 5K was, which was to assist to the development of UWI’s athletics department, as well as to offer scholarships and bursaries, we decided to join with them and become the title sponsor,” she stated. On the same day, CB will host the finals of its annual Pan Chicken Championship at Ocean Boulevard, Downtown Kingston, at noon. The day is dubbed ‘CB Day’ to honor the two big initiatives, targeting two different demographics.

Kimberley Mullings, brand manager of CB Chicken, Chippenham Eggs and Smart Eggs

Your Money eZine

Mullings said she is most proud of the relationships the company has developed with the communities of their vendors

and those who benefit from their support. She admitted that working with these vendors helps CB to create jobs and opportunities for them. “Through our Pan Chicken competition, we try to find catering opportunities for the vendors who participate and whenever we have events, we use them as well, so they get exposure in a variety of ways,” she said, adding that CB also facilitates training for the pan chicken vendors. The company also assists Food for the Poor Jamaica, by providing chicken for the organisation’s initiatives and purchasing tickets to its charity events. Additionally, for the past 15 years, CB’s internal GSAT programme has disbursed over $5 million in scholarships to children of their employees. Despite the harsh economic conditions, Mullings noted that there are ways for corporate Jamaica to come up with creative ways of giving back. “It’s a really difficult balance,” she said. “A lot of the times, people are looking for financial support and it’s not possible to spread our finances in so many different ways. What we hope to do is to try to get more involved in mentoring programmes so wherever possible, we can counsel or give advice... in the areas and fields that we have expertise in.” For the upcoming Christmas season, CB will host a treat for about 300 children from Denham Town in West Kingston on December 16, by providing meals, music and fun activities for the youngsters.

www.ezinesreader.com


[ s ta r t - u p s ] read

.

believe

.

succeed


[start-ups]

Kristina Kerr

It’s all about ME By Sean A Bennett

W

ho is a marketer, really? One definition claims it as an individual who effectively communicates the value of a service or product to consumers. A marketer should, therefore, be well equipped with enough business savvy and people skills to engage consumers. If all this is the case, then Kristina Kerr, founder of Market ME, a new public relations, marketing and event management company, fits the bill. During an hour-long interview, these traits were gleaned from Kerr: she is energetic, smiles often and has plenty of style and personality to win over any audience. Attracting and keeping customer interest is a key component of marketing, so these traits certainly come in handy. Like its owner, Market ME has a young, fresh approach on the traditional ways of marketing in Jamaica. Your Money eZine

www.ezinesreader.com

21


not taking risks hinders business growth. “i was thinking about what businesses wanted when they were looking for help selling [themselves]. they want to… market their brand, product or service. if i were a product, i would want someone to market me – it was to-the-point and catchy,” said kerr of her company’s name. After only five months of operation, Kerr is already making strategic moves in the local circuit, providing marketing strategy, social media management and logistics for companies and events. Kerr received a degree in International Business from Rollins College in Winter Park, Florida, and returned to Jamaica in 2007, where she worked for three years at a medical practice. However, wanting to explore her love for fashion, she moved to New York in 2010 and began working at design houses Sachin+Babi, then Yigal Azrouël, dealing with sales and marketing. It was there that she learned the ins and outs of selling products. “The way that people put clothes together can be applied to business. If you want to be taken seriously, you have to project a certain image. You have to know what works, what doesn’t work and whether you can mix something classic with something modern,” Kerr stated. As much as she was learning, Kerr eventually found that the city that never sleeps was not exactly where she wanted to be. “It’s an expensive lifestyle,” she says. “I realised that people work to live and if I wanted to settle down and raise a family there, I wouldn’t be happy in the long term.” Later that same year, she moved back to Jamaica and did odd jobs and contractual work until she joined eMedia Interactive Limited, where she was the lifestyle editor, before really finding her niche. However, Market ME wasn’t planned, Kerr said. She simply saw a need for a fresh approach to pushing brands, events and companies and began using her experience to help launch Core Studios, a local gym.

22 Your Money eZine

“I don’t know if my approach can be defined. Like my personal style where I love to mix classic pieces with items that are trendy, I’ll mix different tactics with classic techniques making it untraditional.” Today, Kerr’s customers vary, ranging from large companies to small start-ups - “anyone looking to get themselves out there.” Current clients include Core Studios, Kerry ManWomanHome, Reach Academy and the Courtney Washington Showroom. Kerr’s newest project is being one of the driving forces behind this year’s Restaurant Week Jamaica where she handles social media marketing and management. Unlike most start-ups, Kerr doesn’t have the expense of an office space. Luckily, her business is flexible, operating wherever a wireless hotspot is available. She added that a commercial space is in the works to house her business, but it will not be completed until next year. As for future projects, Market ME has signed with a concrete resurfacing company called ‘Allcrete’ where she will conduct the marketing and PR management. The fear of failure typically becomes more real for first time entrepreneurs as the business develops. However, Kerr said fear was never her focus; in fact, it motivates her to make bold moves. “When people are fearful, they don’t take risks and not taking risks hinders business growth,” she said. For other upcoming entrepreneurs or those looking to start a business in the future, Kerr advised them to just keep working at it. “Time and effort will ensure that your dreams will come to fruition,” she said. “Always maintain good work ethic. Put your best foot forward and never promise anything you can’t deliver.”

www.ezinesreader.com



Your Money eZine