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You Are Reading Vol. 09 Issue. 4 February, 2020

Small Business

WE ARE ON Like our page!

Building Networks; Creating Wealth

EMPOWERING The CEO’s Last Word Our Role in ‘We Gatherin’ Though a lot can be done on the part of local small business practitioners to ensure that they take advantage of the opportunities ‘We Gatherin’ presents, including aligning their branding with that of the campaign to attract sales, a few questions still remain.

How Do MSMEs Fit In? Barbadians by birth, descent or choice and those who simply love Barbados, were urged by the current administration to return home for the ‘We Gatherin’ 2020 celebrations. The aim of this year-long campaign is to rebuild community spirit and to develop the socio-economic climate of the island by providing opportunities for all Barbadians to participate and invest in local events and projects. blank It is hoped that this recommitment to nation building will pave a successful future for the country in all areas but this can only be accomplished if all ‘hands are on deck.’ blanks space b As a result, all micro, small and medium enterprises (MSMEs) should eagerly seek to discover what their role in ‘We Gatherin’ could be. Now is the time for greater levels of innovation and creativity from the small business sector as the key drivers of economic growth and social inclusion on the island. blank space blank space It is no secret that the MSME sector contributes vastly to the Barbadian economy, constituting over 95% of formal enterprises in Barbados and accounting for 47.6% of total employment in the country. One then could only imagine the capability of this sector and its impact on our economy if given greater opportunities to be internationalised.

- Has enough been done by those in charge of this project to ensure that the ‘small man’ and those that are not a part of formal associations, also gain exposure from these events? blank - What measures have been put in place to create opportunities for the Diaspora to do business with small firms, whether its investment or procurement? blank sp Furthermore, why is there not a clear path on the ‘We Gatherin’ website to allow for small business owners to submit an application to be featured in the list of activities being promoted to do, see or eat in Barbados? Are we satisfied that the business component of 'We Gatherin' treats enough to facilitating business development at the parish level? b l a n k The SBA is doing its part to empower MSMEs and has attended some of the ‘We Gatherin’ events in St. Lucy including the Business and Heritage Tour, the Market Day Business Fair and the ‘Straight Talk’ - Open for Business presentation. Additionally, the association has used its social media platforms and online reach to promote small businesses situated in the allocated parish for each month, creating greater visibility for these firms. blank space blank space blank In February, the SBA’s team attended the ‘Straight Talk’ - Open for Business panel discussion in Boscobelle and the ‘Speightstown Alive’ Market Day and Business Fair. blank space blank space However, at the latter event, one was truly left to wonder if the development and promotion of the small business sector was given due significance in the scheme of things. blank spacepace

The location of the business fair left much to be desired as the booths provided were situated in the St. Peter Parish Church car park - far removed from the festivities in the area, leaving little probability for foot traffic or public interest. As we know in the marketing of these events, its location, location, location! blank space This left the SBA team with no other choice but to take to the streets to engage the public. If the objective of this ‘We Gatherin’ project is truly to bolster this island’s economy, then more can and should be done to ensure that the sector which contributes significantly to social and economic development, is given the necessary platforms to excel. blank space -Senator Dr. Lynette Holder blank space (CEO of the SBA) blanks space blank spac

SBA Team at ‘We Gatherin’

Speightstown Alive

Governor of the Central Bank, Mr. Cleviston Haynes presenting valedictorian, Mr. George Collymore with his certificate.


Exploring our History through Genealogy

Small Business ASSOCIATION

article written by the Department of Archives The Barbados Archives Department is the repository of local historical records that houses over 360 years of Barbados’ documented history. These recorded events cover the genealogical, economic, cultural, academic, agricultural, social and other important occurrences in local history.

these Market Places has formed a partnership with the Barbados Tourism Marketing Inc where the aim is to produce a product that can be branded as Barbadian. This product seeks to provide Barbadians, no matter where they are living, with the means necessary to conduct their family research.

Currently the department is actively involved in this year’s ‘We Gatherin’ events where its Genealogy Market Places are held each month in a different parish in Barbados.

At each Genealogy Market Place the department exposes the public to material which focuses on the links between Barbados and numerous countries. In St Lucy, Dr. Frederick Alleyne’s display told the story of Barbadians who Emigrated to Brazil and Guyana. Another display by Mr Sabir Nakhuda featured the role East Indians played in Barbadian society.

Genealogy, the study of one’s ancestral line of ascent or descent, identifies the connections between persons who are living and persons who have died. The need to promote genealogical research is of primary importance as it provides persons with an understanding of certain genetic traits found within their family tree and also fosters a sense of national identity. The Archives Department in its promotion of

Additionally, during the day there were presentations outlining and teaching Barbadians and others how to do their family research. Mr. Thomas St. John, whose ancestors came from St. Lucy, willingly explained how he traced his family tree, with family members found in St. Peter and Mr. Nicholas Mayers, another presenter, was able to trace his family tree right back to Africa. blank Ms. Karen Proverbs, Archivist at the Archives Department provided information on the resources available at the Department and also how to search them to locate family history information. In each parish display boards highlighting the rich history of the

parish and by extension Barbados, would be placed at strategic points. blanks space blank s p a c e

Members of the public receving information on how to conduct family research at the Genealogy booth in St. Peter

Genealogy is one of the principal programmes of the Archives Department. The objective is to promote it both locally and in the Diaspora. This will be realised through collaborations with consulates, The Barbados Tourism Marketing Inc and others such as the Small Business Association. blank space Members of the general public are encouraged to visit the displays and the presentations of the Archives Department at the upcoming Genealogy Market Places.

Engendering an Entrepreneurial Mindset in our Youth The Enterprise in Action Youth Programme is an initiative of the Small Business Association of Barbados (SBA) designed to orient students with the key tenants of entrepreneurship. blank This academic year, the Small Business Association is proudly facilitating over 260 students from fourteen cohorts and thirteen secondary schools including the St. Michael School, the Graydon Sealy Secondary School, the Alleyne School and Queen’s College. blank

Senior Specialist in Marketing & Research at Cave Shepherd Card Services, Ms. Kaylene Henry, assisting students from the St. Michael School

The programme is divided into four phases. The first phase which represented the theoretical section of the programme was concluded in January 2020. This phase, which began in October 2019, allowed the students to gain knowledge on topics such as Human Resources, Marketing, Finance and Law and was facilitated by expert consultants in the respective fields. The students have since transitioned to phase 2 where they are given the opportunity to apply the knowledge they received in phase 1, in a practical way. To accomplish this, students work in groups to develop and launch a business within their schools under the guidance of mentors assigned by the SBA. The students hosted brainstorming sessions and did the relevant market research to determine if their ideas were feasible and are presently working diligently as they prepare to launch 14 businesses in areas such as confectionary, cosmetics, baking and car washing. blank space Once this second phase has been completed, students will be selected to take part in summer internships with some of the association’s key industry partners, which will give them further hands-on experience in the local business environment.

Business Development Manager of CIBC, Mr. Raymond Ward tutoring students of the Frederick Smith School

The programme will conclude at the association’s EIA Youth Forum where all participating students will be invited to showcase their businesses for the sponsors of the event, SBA’s industry partners and members of the media. blank space Notably, the programme has recently partnered with the Technical and Vocational Education and Training Council (TVET), to transition the EIA Youth Programme to a National Vocational Qualification. As a result, the 2019-2020 cohort will be able to receive this locally and regionally recognised certification on completion of their secondary school tenure. blank space blan The 2019-2020 EIA Youth Programme is sponsored by The Central Bank of Barbados, Cave Shepherd and Co. Ltd and CIBC First Caribbean International Bank. blank space


Spotlight

Breakthrough Performance Coaching (BPC) is a boutique consulting firm, dedicated to working with individuals and organisations to improve their performance. The company offers training, coaching and consulting programmes that help clients to develop leadership skills, use their time effectively, improve their relationships with family or get clear on career changes. BPC’s principal coach and facilitator is Marjorie Wharton, a learning and development professional with over 15 years’ experience. Ms. Wharton specialises in helping people to develop the mindset and build the skills they need to achieve the results they want. Over the years her focus has been on helping people to better understand themselves (strengths and areas for improvement) and to use that deeper awareness to craft their own journey to success. Breakthrough Performance Coaching offers a variety of services including: • • • • • • • •

Leadership Development Personal Development Building Team Effectiveness Improving Individual Performance Managing Change People Development Strategic and Holistic Thinking Personal and Executive Coaching

For more information, contact BPC at Tel: (246) 537-4110 or visit their website at www.btpcoaching.com

On Our Members

Get Healthier, Look Sexier, Feel Greater! VT’s Natural and Herbal Solutions was established in February 2010 and offers life enhancing natural remedies and supplements, all meant to dramatically improve the quality of life and ultimately lead to better health. The firm is also the exclusive distributor in Barbados for all ASRIM supplements, including the Extreme Body System. VT’s Natural and Herbal Solutions is dedicated to providing the highest quality of natural health care products and remedies available at unbeatable prices. All products sold by the firm are manufactured using the highest grade of botanical herbs available.

St. Thomas

Swift Express Couriers commenced operations in 2014 and based on extensive research into the industry, established their sister company Swift Express Cargo. The company has now developed into the go-to shipping service for online shopping, shipment of packages and mail from the United States to Barbados. Swift Express caters to individuals as well as small, medium and large companies and aims to provide a superior customer oriented experience for all. The firm provides three main services: 1. Domestic Courier – courier services to local companies and individuals including agile door-to-door collection and delivery for time sensitive documents and packages.

Additionally, to insure the integrity of their products, strict guidelines are followed that meet or exceed the industry’s “Good Manufacturing Practices”

2. International Cargo - a safe and hassle free online shopping and delivery experience.

Some of these products include: - Colon cleansers - Appetite control and weight management supplements - Fat burners - Probiotics - Dietary supplements

3. Customs Brokerage - handling all duties and charges during the customs clearance process on customers’ behalf which is calculated into the total charge upon delivery of packages.

At VT’s Natural and Herbal Solutions, they believe that your ‘Health is your Greatest Wealth”. Give them a call today at Tel: (246) 231-6307 or visit their website at https://vtsnatural.com/

For more information on what the company offers, a list of restricted items and how you can sign up, visit their website at www.swiftexpressbb.com or give them a call at Tel: +1 (246) 237 – 1847


Dr. Biz

10 Breakout Ideas for Small Businesses

by Jean Folger Excerpt from investopedia.com

mers. One rious custo cu f o x u fl in -to-day and with the day itial launch in gh u e o th n e g in sy u r, after all. yb follow o are alread one – it’s worked so fa h a plateau h w ac , re rs s e e n ss w e o busin . ve always d all business Many small ur business g what they’ at many sm in th o d is t is ru th a ss, but on yo r e in n si u ck b u r st u t reason fo ge in yo e business, rk not just running of th time to wo d n fi to t ortan businesses: Still, it’s imp as for small e id help attract t u o ak e 6 bre s, which can e ar ic re rv e h se , d d nt your s an starte s compleme new product To get you m r e e it ff o w e n to is ose ersify ake sure th e way to div here is to m y e ersify- On k iv e h D T s. 1. ease sale uses ers and incr to find new is e h ic n new custom t e k -up. e a new mar existing line way to creat at e gr A rkets Niche Ma rful lore New p es. x E ic et is a powe rv rn se te d In e an 2. s th ct -morthat isting produ a brick-and hout saying it te w ra e s p e o go for your ex u It yo ther. Even if l Presence nesses toge tive Digita si c u e b ff d E n an a rs Build ng consume ur brand. 3. re may es to bringi growing yo m to co al it ic n it er that,” the ey e ff h cr o is ’t n ce o n tool w d se e w , a digital pre staff what th o, I’m sorry, tar location d ask your lf saying, “N an e – rs u rs yo e d m n o u fi to your cust Need- If yo isten closely offerings. L . an Unmet d l e il e F n t e r 4. ll an unm ing that ng from you rtunity to fi ly of someth , it’s p ething missi p m su so a be an oppo ’s as re h e y as nd out if th one countr ices overse hear – to fi ts because cts and serv is u x d e e ro p . ad r ly tr u al ti ional for yo ss exponen lly- Internat ere may be a demand your busine w ink Globa o h th gr T k ly in al th ti n 5. r. If you ket, reach net and pote d by anothe st a bigger p a new mar ssible ca ta n u is in deman ca yo u lp e yo ing into – erger can h makes it po worth look e business m rings. It also is e ff w o tion cash A s y’ ss an e p not to men Busin r com u r – e yo re th u in o ct p n u A ga tr a h as Merge wit etitor or fill ution channels and infr 6. out a comp ib ze tr e is e d , fr , ge rs d e ical knowle new custom ducts, techn e next level. ro p w e n in to ga ss to th your busine – to launch

DO YOU HAVE A QUESTION FOR DR. BIZ? Email it to info@sba.bb

Get in Touch

The Small Business Association of Barbados, Suite 101, Building 4, Harbour Industrial Estate, Bridgetown, Barbados Tel: (246) 228-0162 | Fax: (246) 228-0163 | Email: theoffice@sba.bb | Website: www.sba.bb

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The Outlook Newsletter February 2020  

The Outlook Newsletter February 2020  

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