Business dialogue layoutnew april 2015

Fourth Quarter Issue |FEB 2014 -APR 2015 GLOBAL ENTREPRENEURSHIP WEEK EDITION

Successful Business PLANNING

Successful Business Planning

Business & Innovation

9

5

Facilitating Successful Small Businesses

7

Do you really need a business plan?

11

5 Steps to a successful business launch

13

Mobile Business Clinic Highlights

14

JBDC pilots implementation of US SBDC model

Finance 17

Why is a business plan necessary for the loan process?

18

Culture and Channelling Corporate Behaviour – is the bottom line with the Boardroom?

Technology Mobile Business Clinic Highlights

23

How to create multimedia business proposals

STAFF ADVISORS: Ms. Valerie Veira, J.P. Chief Executive Officer Mr. Harold Davis Dept. Chief Executive Officer

23

Mr. Antonio Vouranis Chief Technical Advisor

Editor-In-Chief & Content Coordinator Keneshia Nooks – JBDC Corporate Communications Unit Assistant Content Coordinator Sancia Campbell – JBDC Corporate Communications Unit Design & Layout Melissa Green – JBDC Visual Communications Unit Photography Colin Porter – Technical Services Unit

Successful business planning I am very excited to greet you in this the final issue of our Business Dialogue Magazine for the fiscal year 2014/2015.

It has indeed been a busy but exciting period for the JBDC team and no doubt for entrepreneurs all across Jamaica. As you may recall, JBDC launched the Ministry led, Mobile Business Clinic Initiative in September 2014.

The purpose of this initiative is to decentralize business development support to micro and small businesses across the length and breadth of Jamaica.

So far just about 1000 micro and small entrepreneurs have been impacted by the services offered by our public and private sector partners. The initiative has been to St. James/Trelawny, Westmoreland, Hanover and Manchester. The clinic is scheduled to visit St. Elizabeth, Clarendon, St. Ann/St. Mary, St. Catherine, St. Thomas and Kingston and St. Andrew, respectively over the next few months.

Having been on the road for the past few months, one of things that have been forcefully brought home to us is the importance of business planning. We have learnt that one of the main reasons why businesses, in particular, micro businesses fail is lack of proper business planning. The focus therefore of this issue of the Business Dialogue is therefore on this.

Business planning is one of the most critical skills that every entrepreneur should acquire. It is important to note that a business plan is different from business planning. A business plan is is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals while business planning refers to execution and the processes involved in executing that plan.

We have zoned in on issues such as; the importance of a business plan, steps to successfully launching a business and facilitating small business success. We also look at the success of serial entrepreneur; Wayne Gallimore.

Importantly, the JBDC’s 8th Annual Small Business Exposition and Conference takes place on May 21, 2015 at the Jamaica Pegasus Hotel. Under the theme “Business Linkages: Connecting Jamaica to the World”, the event promises to once again provide a platform for micro and small businesses to gain important business contacts as well as assist entrepreneurs with the necessary skills and processes to regularize their existing business functions.

For the first time, we will introduce a featured dubbed “The Matchmaker” to the Expo. The purpose of this activity is to match local buyers to suppliers with a view to securing future business as well as to progress the Buy Jamaican campaign.

Several speakers, both local and international will also be on hand to discuss important issues affecting our client group. The JBDC team, our sponsors and exhibitors look forward to your continued support in the effort to build successful businesses.

Best, Valerie Veira, J.P. Chief Executive Officer

Keneshia Nooks is the Corporate Communications Manager at the Jamaica Business Development Corporation (JBDC), she has over 11 years experience in various marketing and communication techniques including advertising, media production, brand development, public relations, social marketing, market research and sponsorship. She has also coordinated publicity initiatives in the Caribbean, Europe and the United States for international music sensation OMI and Italian Reggae Singer, Alborosie.

Sancia Campbell is a PR Practitioner in the business and hospitality sectors with over 13 years experience in marketing, publicity and communications. An excellent writer and avid lifestyle blogger, Sancia enjoys reading, project management and events planning. She is currently the PR & Events Coordinator at the Jamaica Business Development Corporation (JBDC).

Althea West-Myers is a development strategist. She has spent the last seven years researching and adapting global strategies to our Jamaican business environment. Her work at JBDC involves finding innovative ways to assist MSMEs negotiate the variabilities of the sector in order to secure growth at the micro and macro levels. She is an adjunct lecturer in Entrepreneurship, Business Principles and Management, and Organizational Behaviour at Vector Technology Institute.

Marie Elizabeth Casserly, a graduate of UWI and the Jamaican Institute of Management, is a business and project development professional, specializing in branding, product development and marketing. Her career which spans some 30 years, includes close to a decade in management in the Jamaican private sector, she has focused primarily on the growth and development of enterprises, especially in the creative industries which she is extremely passionate.

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