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Small Business ASSOCIATION
Vol. 03 Issue. 1 January 2015 Edition
Building Networks; Creating Wealth
A LOOK BACK – 2014 in Review During the year 2014, the Small Business Association continued its projects and programmes focused on its core competencies of advocacy, education & training, networking and business development support. The provision of services and coordination of activities came against a backdrop of prolonged recession of the Barbados economy, yet with an understanding and commitment to deliver the kind of representation to members needed to assist with their survival at this time. Whether representing SMEs on several government and national committees, to organising a programme of continuous training for members to hone their skills, to facilitating networking sessions for firms to pursue business opportunities, the SBA continued to be in the vanguard for the small business sector. The full report of the association’s programmes for the previous year can be found on its website, www.sba.bb. Enclosed are highlights of some key activities. Tourism Micro Project 2014 saw the conclusion of the final component of the three-year IDB/Ministry of Tourism/SBA, Tourism Micro Project. The project provided training and technical support for small hotels, agro-processors and the arts & craft sub-sectors. It also assisted with skills development relating to marketing, brand development, research and product enhancement. For the wood-based arts & crafts cluster, marketing support services included website development, promotional paraphernalia, infomercials and a trade show at the Limegrove Lifestyle Centre, Holetown St. James. Enterprise in Action Youth (EIA) Programme Continuing into its fifth year, the EIA Youth
intent of this programme is to include the study of entrepreneurship in the educational process, influence young persons to be entrepreneurial, widen the horizon of potential business leaders and increase the number of start-up businesses amongst younger persons. Powered by Student One, the Student Discount Card was expanded to include a wider network of providers. Additionally the association launched the EIA Website, www.youth.sba.bb, to provide an online interactive mechanism to enhance education among the youth.
Training and Development Courses. Supervisory Management & Team Building: January 28th 2015 Strategic Planning for Small Business: January 27th 2015 QuickBooks Basic and Intermediate: January 27th and 29th 2015 respectively
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Strategic Partnerships During 2014, the SBA continued its thrust at building strategic partnerships to represent the sector and attract key product offerings to its
Corporate Communications The SBA’s social media strategy netted an increase of followers by 105%. Platforms such as Facebook, Twitter and LinkedIn were effectively used to promote projects, educational forums, members meetings and general communication about the association’s activities. This was supported by an interactive website, which featured monthly updates on the organisation’s projects and programmes. The associa-
tion further maintained a monthly distribution of its e-newsletter, which has a subscription in excess of 10,000 recipients, and provided members a weekly e-bulletin on activities of the SBA, industry partners, as well as promoted goods and services offered by member-firms. Training & Education The association’s training series featured both computer-based programmes and management courses from QuickBooks to business start up, to strategic planning, all with a focused of building the skills and management competencies of small business owners and their staff. A total of 194 students participated in the training. Additionally, some nine educa-
programme provided an opportunity for over 200 students from nine schools including one primary school to develop entrepreneurial talent and prepare for the world of work. Titled sponsored by First Citizens Bank, the strategic
IMPORTANT DATES 2015
tional seminars and workshops were offered focused on various current affairs issues including the Employment Rights Act and its implications for small businesses, project proposal writing, financial literacy training and the Central Bank’s discontinuation of the one cent coin.
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membership. These included the CARICOM Secretariat, the National Union of Public Workers, Global Entrepreneurship Week, and the Central Bank of Barbados, among others. Of note were the Cherry Tree Trust (CTT) and the Foundation for Entrepreneurial Partnership (TFEP), United Kingdom. The objectives of the partnership with the CTT include the implementation of projects and programmes that would assist SMEs, such as networking, institutional strengthening, training opportunities and the provision of financial solutions for small firms. The collaboration with the TFEP will promote a matchmaking service to enterprises in Barbados and the UK. Enterprises can register their request/offer for partnership at NO COST with the intention of securing a partnership with a suitable organisation in order for them to develop a productive relationship. Once a “Partnership Match” is found, the SBA and TFEP will be on hand to offer practical support and active support. The website for the project is www.tfep.info. The economic and fiscal forecast for 2015 reveal that Barbados will continue in a period of prolonged recession. This will no doubt impact on the SME sector’s ability to grow and be sustainable. The SBA will consequently be task to be more innovative in its programming and strategic in its operations to continue the provision of relevant and rewarding services to members and the sector at large. The association will therefore harness all efforts and resources required to fulfil its mandate.
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Follow us on Facebook.com/sbabarbados Small Business Association @SBAofBarbados
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REACH THE SBA HEAD OFFICE 1 Pelican Industrial Park, Bridgetown, Barbados Phone: (246) 228-0162 Fax: (246) 228-0613 Email: theoffice@sba.bb Website: www.sba.bb
FEATURED MEMBERS On Valentine’s Day, Be SME SMART! Chose a gift from one of our SMEs and make your loved one feel special.
Doule Creations
"Doule Creations "Handmade by a handmaid" is the tagline which epitomizes Doule Creations. Doule means handmaid or servant in greek. It all started when the owner, Lisa Moore, learned to crochet as a stress reliever, and later took a knitting class at the Girl's Industrial Union. Soon she began receiving compliments on her bags and other items she had made. One day, one of her friends asked to have a bag made, on completion, that friend insisted that Lisa accepts full price for the bag and it was from that experience, Doule Creations was born. Doule Creations specializes in handmade handbags, messenger bags and clutches. These can be custom designed and constructed to your specifications. They use a variety of fibers including wool, cotton, jute and acrylic. If it can be manipulated with a hook, a loom or needles they can use it. Need a piece for a special occasion? A special gift for your loved one on Valentine’s Day? Give them a call at 4273877 or send an email,
C. R.E.T DECORATING SERVICES C.R.E.T DECORATING SERVICES can transform any space to accommodate your needs, it can be a wedding, an office party, a birthday party or any type of party, whatever the occasion. Also available are fabrics for draping, one of a kind centrepieces, garden arches, chair covers and sashes, balloon art etc. the list is endless.Special seasons and occasions require special items and as Valentine’s Day approaches you can contact them at 244-9972 or email r-ctrotman@caribsurf.com to order a special gift basket for your Valentine.
doulecreations@gmail.com. They aim to please!
Capello The Salon Located on the tourist driven south coast in Hastings Barbados, Capello opened its doors just over a decade ago and quickly became the most sought after of its kind in beautiful Barbados. Why? Because celebrated Master Stylist Carlos Eversley is at the helm of the operations offering a perfect cut every time; each client is afforded the opportunity to meet with a hair care bio-chemist; their stylists are experts at their trade; and lastly the vibe, the feel, the fun! Since 2001, specializing in Caucasian, African, Asian, Indian, Hispanic & Mixed Hairtypes, Capello has serviced some of the Caribbean’s most fashionable men and women. Book your appointment with one of Capello’s experts today! This February, Capello The Salon will be offering a 10% Discount to all SBA Members on any HAIR SERVICE! Call 622-1674/75 and book your appointment today!
Courtyard Caterers Ltd Courtyard Caterers Ltd. is located in Blackrock, St. Michael, just less than a mile away from Bridgetown, in which, their restaurant, Courtyard Café, is located in Mall 34 on Broad Street. Courtyard Caterers provides catering for corporate functions, private parties, birthday parties, weddings or any event where catering is needed. In addition, all service ware is included in the cost, however, for an additional fee, they provide staff for your functions including normal serving staff, carvers and barmen. During the month of February contact them and inquire about their Valentine’s Day specials. Courtyard Caterers Ltd. Brighton Terrace Black Rock St. Michael Barbados Tel: (246) 421-7732 / 425-6403 Fax: (246) 425-7271 Email: courtyardcater@gmail.com
I RESOLVE TO…… 2015 is here, and with it comes many New Year’s resolutions “I’ll start going to the gym”, “I’ll eat better” and so on. Unfortunately for some of us these resolutions are simply to-do lists that seldom go beyond the month of January. However
recognising the value of resolutions and their planning function in the life of the individual or business, we wish to share with our business readers some tips from succeedasyourownboss.com on how to set the right type of resolutions for 2015. 1. Shoot for the Stars but Aim for the Moon Here’s a great quote from Confucius: “If you shoot for the stars and hit the moon, it’s OK. But you’ve got to shoot for something. A lot of people don’t even shoot.” You’ve got to aim for something in order to move your business to the next level. However, don’t expect the stars every time. Remember those 10 pounds you’ve vowed to lose every New Year? Your goal may be too lofty, which makes you feel like resolutions are bunk. Do aim high, but within reason. If you set a goal of adding 500 new clients in 2015 when you only added 10 in 2014, you may be shooting too high. Find a number that’s more realistic — and yet still challenging — so that when you exceed that goal, you feel good. 2.Be Really Specific Saying you want to “grow your business” next year is too vague. What does growth look like? Hiring new employees?
The SBA team seeks always to highlight the best in all that surrounds us and at the beginning of 2015, we reflected on those experiences, encounters and situations that can shape our future.In reflecting, we realised there is a section of our community that has a lot to offer but because of their circumstances, society seldom gets the opportunity to experience their talents. These citizens are some of the bravest people you would ever meet, constantly fighting against the odds, which are often not in their favour. Their ceiling is not made of glass, but of lead and they can see it falling on them as soon as they enter the room. Members of our team had the opportunity to meet with these citizens, persons living with HIV/AIDS, and wish to share some of their experiences. Tom, (not his real name), was unemployed for a while, eventually he
Living with HIV
Increasing sales by a penny? You want your goals to be as detailed as possible. Say how you want to grow it. Quantify how much you want to increase sales. The more specific you are, the better you can measure results. If you can use numbers in your resolution, do so. If you want to increase sales, include what this year’s sales were so you can easily compare. For example: “I want to take our annual sales from $500,000 to $750,000 by the end of December 2015.” When it’s time to analyse how successful you were with your resolutions you can easily look at your benchmark ($500,000) and compare it to where you landed at year-end. 3. Take Action Resolutions aren’t going to resolve themselves! They need your help, as well as the aid of your staff. For every goal you set, make a list of actions that need to take place in order to reach the objective. If your goal is to increase sales from $500k to $750k, your actions might be: •Hire two new salespeople •Expand sales area into 3 surrounding towns •Launch new product by March •Increase prices by 3% by May Each of these tasks should be assigned to someone on your team, and given a deadline. This way, you can ensure that that person stays on top of the assignment and keeps you on track to achieving your resolutions. 4. Review at Year-End In a year, look at those resolutions again and assess which you can check off your list and which you didn’t. Pay attention to those you didn’t achieve. What were the reasons? Did your team handle all the necessary tasks? Did your business shift focus? Use this information to guide you in creating next year’s resolutions. Pay attention to the progress of your goals throughout the year. Do whatever you can to move everyone forward so that you will accomplish them all. found a job he loved, enjoyed and felt comfortable doing. Then one day he was summoned to his boss’ office, where the boss explained that she received a letter in which the sender highlighted that Tom was a danger to her business and needed to be fired. She requested that Tom tell her the truth about the letter but he declined. As a result Tom is now unemployed again. Tom now dedicates his time to his family and gardening, and aims to continue educating and empowering himself so he can someday offer his talents to society. Jane, (not her real name), after becoming pregnant, realised she too faced a similar situation to Tom. She became seriously depressed to the point where she thought she was going to die but the love for her unborn child kept her alive. She apologised to her unborn for bringing her into the world full of risk and turmoil. Sometime later, Jane gave birth to a healthy baby girl who taught her the power of love and hope. She also met a man and immediately informed him of her situation, because of his understanding, he now brings happiness to Jane and her daughter having resolved not to turn his back to her. Jane and Tom are two of the many persons living with HIV/AIDS. Through lack of education, they are discriminated against, refused jobs and forced to live as second-class citizens. We at the SBA, would like to encourage all readers to remember that these persons have equal rights and should be afforded the opportunity to contribute meaningfully to their country and to become all they are destined to be. We need to educate ourselves so we can benefit from their contributions. For more information on where you can read similar stories, visit the CARE Barbados Facebook page.