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You Are Reading Vol. 02 Issue. 1 January, 2014 Edition

Building Networks; Creating Wealth

Entrepreneurship: The Way Forward Small business development has become the focus of many economies in both the industrialised and developing world, within the last three decades. Policy makers, donors, academia and even politicians all agree that the SME sector represent the engine of growth for future development. In the case of Barbados, this has been brought more frontally to reality at this time of prolonged economic downturn, pending public sector retrenchment and the need to reposition the local economy. SME development must be the catalyst that will help to stimulate growth and provide a growing unemployed group with solutions to sustaining its future. The SBA has some proven solutions that can assist prospective and current entrepreneurs and will work to facilitate a more competitive and enabling environment for ideas to flourish, small firms to enter the market and that opportunities for expansion can be maximised. Some of the areas we can assist are in product development and ensuring that persons are able to launch a product in the marketplace effectively. In addition, every business IMPORTANT DATES - 2014

startup should have a sound business plan that is well thought out and captures every facet of the organisation over a prescribed period of time. Such plans are important to financiers and for general guidance, once the business commences. In addition, the SBA can help in guiding start-up research, including

partnering business startups with mentors and resource persons. Barbados’ development strategy places considerable emphasis on the creation of an entrepreneurial mind set among Barbadians. At the SBA, our mandate is to nurture small business owners and provide opportunities for them to promote their goods and services. Some of our benefits to members include: •

Access to Meeting &

FEATURE ACTIVITY

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Read more, pg 3

One other notable activity is in the area of technology. The SBA in collaboration with the Central Bank of Barbados has developed the Tech Smart Website Project where members (new and old) can receive professionally designed websites to expand their marketing opportunities to the world. In addition, there is the Web Starter Package for those who wish to develop their own sites independently.

In addition, the SBA has introduced some very exciting and exclusive products individually and in collaboration with partners (locally and internationally). Activities such as the SME SMART Marketing Campaign where Small Business Association members’ goods and services are promoted to consumers. It is a great marketing opportunity for members and is featured at various venues around the island.

FEATURE ACTIVITY

Persons with business ideas are strongly encouraged to pursue them. At the SBA, training is available to help entrepreneurs to develop and hone their skills and knowledge. The Association is ready to assist any business person, with an emphasis on the small operators, in any industry. This is the time to pursue your dreams. Become an entrepreneur today!

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For more information on membership and for other resources please visit www.sba.bb

REACH THE SBA HEAD OFFICE

1 Pelican Industrial Park, Bridgetown, Barbados

MEMBERS’ MEETING FEBRUARY 25

FINANCIAL PLANNING APRIL 16

Training Facilities Advertising Services (eMagazine & Social Media) Discount on goods/ services Email Promotions Help Desk Assistance Networking Opportunities Secretarial Services Technical Assistance Website Development & Marketing

Failed PR Hurting Business Growth

The Association aims to provide its members with the latest technology resources to help drive their businesses.

PROPOSAL WRITTING WORKSHOP FEBRUARY 12

TAX CLINIC MARCH 12- 13

In Focus

SEE OUR WEBSITE FOR MORE INFORMATION

Phone:

(246) 228-0162

Fax:

(246) 228-0613

Email:

theoffice@sba.bb

Website:

www.sba.bb


NEW ENTREPRENEURS

SBA MEMBER SPOTLIGHT

Source & Supply is Barbadian company with strong roots in the shipping industry. Prior to its formation in November 2008, company director Sean Morris worked in his family’s ship chandlery business and then later, in the aviation industry. Fellow director Mathieu Issahas a background in the transportation sector, particularly in the areas of logistics and sourcing. This combination of skills has resulted in the formation of Source and Supply, a progressive company that prides itself on excellent customer relations, a strong work ethic, efficiency and sound knowledge of shipping procedures. At Source and Supply one of their guiding philosophies is to do more of what works and less of what doesn’t. They know your shipping schedules and concerns. Their team offers business solutions to their clients, enabling both parties to function efficiency. They also believe that it is possible to generate a profit whilst embracing principles such as honesty, trust and cooperation. Business savvy and values can and do mix! The Source & Supply team is excited to represent Cargo Consolidators Agency Ltd and Cargo Freight Services and together, build strong partnerships. Some of the Shipping & Cargo Services they offer include • Ocean freight • Air freight • Consolidating • Packing & Crating • Imports • Exports • Customs Brokerage • Trucking and Delivery • Project Logistics Contact Source and Supply at Tel: (246) 430-0839  Fax: (246) 430-849  Em: office@cargobgi.com www. http://cargobgi.com/ SBA Outlook Newsletter

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January 2014

The diversity of new business entrepreneurship and enterprise in Barbados continues to be seen among the number of new businesses joining the Small Business Association every month.

would take the brave step to entrepreneurship. She noted, “The current economic climate requires every one of us to be innovative and the formation

and our training programmes are being snapped up, so we do expect that shortly we will see even more persons starting businesses to help cope with

A number of new professional services firms as well as wholesale/retail, agroprocessing and tourism related services have joined the membership of the association offering such services as architecture, internet advertising, auto parts, freighting and customs brokerage and heritage tourism items.

SBA CEO Lynette Holder welcoming new member Deborah Grant

Ms. Andrea Taylor, Business Operations Manager of the Small Business association noted that it was “great to see people taking their business ideas to the next level” and it was her hope that even more people

of a business from an idea was the realities of society”. one such form of innovation”. Persons who wish to learn more about the SBA and its She went on to add, “The SBA membership can visit has seen an upsurge in the www.sba.bb for more number of queries from the information public about entrepreneurship

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STEPPED UP TRAINING & DEVELOPMENT 2014 will see a significant increase in the number of training courses being offered by the Small Business Association to the members and the public. In anticipation of the needs that would be generated by the displacement of workers, the Association has included new courses for prospective entrepreneurs starting January 2014. Among the courses being offered this semester are Business

Startup, Introduction to Computers, QuickBooks Accounting, Customer Service and Marketing and Supervisory Management. Business Operations Manager of the SBA , Andrea Taylor said more courses will be added and there may also be the introduction of a few oneday or two-day seminars and courses for those who can attend in various areas including Proposal Writing.

WALK THE TALK 2014

To see a list of the training and development courses offered by the SBA interested persons can visit the Programmes section on www.sba.bb

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The Walk the Talk Committee The new programme will is gearing up to have a bigger begin February 15, 2014 and and better programme for run until May 26, 2014. 2014.

the elevator. Walk to your colleague’s desk rather than use the intercom. Get fit. Get healthy. Get moving!

The Walk the Talk initiative, a collaboration among the Small Business Association, Barbados Chamber of Commerce and Industry and the Barbados Employers Confederation saw participation by some 50 companies across Barbados of all sizes. Hundreds of employees took part in the programme in 2013.

Every employee who engages in the programme will be given a pedometer which will be used to record their movement in steps each week. That information will then be assessed to see who has recorded the highest number of steps within the stipulated time frame. The person recording the highest number of steps at the end of the period will be declared the winner.

All SBA members are urged to encourage “employees to take responsibility for their health. Instead of parking closest to the building you work at, park it further away. Take the stairs instead of

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For more information and registration, forms please visit the download section at www.sba.bb


FIRST CITIZENS BANK: HEALTH & WEALTH Small Business Association members will have the opportunity not only to promote their goods and services but to take part in a healthy scenic walk organised by the Barbados National Trust and First Citizens Bank.

Barbados. The hike is free and participants are encouraged to condition themselves before embarking on the hike. More information will be posted as it becomes available.

First Citizens Bank, our partner and title sponsor for Small Business Week 2014 together with the Trust will host the Great Train Hike from Independence Square to Bellplaine St. Andrew. Hikers will get to follow the path of the old train tracks and be informed of the historical sites along the way by experience and knowledgeable guides.

Members of the SBA will get an exclusive opportunity to display their services and select products in two of the branches of First Citizens Bank as part of the SME SMART Campaign.

This is an excellent opportunity for members to promote their businesses and highlight the excellent quality and range of products in the micro, small and medium enterprise sector. This is a great opportunity for fitness This activity is only open to SBA members enthusiasts, Walk the Talk groups, employees and interested persons can call 228-0162 to and friends to have some wholesome fun enquire or book their spot while enjoying the beautiful sights around

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DIRECT ASSISTANCE GRANT SCHEME

The Direct Assistance Grant Scheme is now open for applications

The Caribbean Export Development Agency (Caribbean Export) officially announces the publication of the Call for Proposals for both the Accelerated and Regular Procedures grant facilities under the well known Direct Assistance Grant Scheme as part of the Regional

Private Sector Development Programme (RPSDP) funded by the European Union under the 10th European Development Fund (EDF). The Direct Assistance Grant Scheme is a reimbursement grant funding facility specifically designed to provide financial assistance to legally registered firms, individuals and Business Support Organisations (BSOs) who have the potential to export their products and

Fiddling While Rome Burns

Recall the recent spectacle of the President of the United States, Barack Obama, being pilloried for his doublespeak on the Affordable Care Act he piloted. He was chastised for promising Americans, ad nauseum, in 2009 that “If you like the plan you have, you can keep it. If you like the doctor you have, you can keep your doctor, too”. Several months later this would not be the case under Obama Care. The result is that Americans have lost faith in the President. Only 37 % believe he knows what he is doing. His approval rating has plummeted to 46%.

That his words came back to haunt him speaks not so much about him, but about the people in whom he has placed his trust to provide him with sound advice that he could relay to the populace. President Obama is by profession a lawyer, so I have to accept that his pronouncements on the workings of a complicated system like health care, would be based on “expert” advice. He stood alone at the

microphone and for this reason he had to bear the LAST WORD responsibility. FROM THE CEO What is interesting is that we are witnessing a similar farcical comedy with regard to the pending layoffs of public servants. For a number of months since 2013 we have been hearing about various numbers to be laid off. Since then the public relations on this matter has been bungled time after time. We have heard figures ranging from 3000 up to 5000 to be laid off. With each pronouncement the government has either refuted or sought to correct. The last fiasco was the announcement by the Minister of Labour, that less than 3,000 would be going home only to hear a statement by the Minister of Finance hours later that what he said in December 2013 as far as numbers were concerned, was still the order of the day.

services. Grants of up to €30,000 can be received by firms that meet the eligibility criteria, whose applications are accepted and are exporting or demonstrate their potential to export goods and services. The deadline for this Call is March 7, 2014 and more information about the Direct Assistance Grant Scheme can be found at www.carib-export.com

distressing effect such statements and counterstatements could have on those likely to be affected. My concern is also with the effect that this social disquiet is having on the business community, which is seemingly in a holding pattern as it waits for government to act. The act of laying off 3000 citizens will have a debilitating effect on business. Some are known to say that “a blind man on a trotting horse” should be able to see this. So why are we witnessing this absurdity that is unfolding within the government’s public relations? Sadly, it seems that not only is the man on the horse blind, but the horse is also heavily blinkered.

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to have confidence in an economy when information coming from the chief architects is riddled with inaccuracies and retractions? A lot has been said about the private sector not pulling its weight. I disagree with this generalisation. Faced with the reality of a bleak economic future, how does government expect small businesses (or large for that matter) and even more importantly prospective small business owners, to have the required confidence to sink money into new enterprises when the very actions of our leaders seek to erode the stability of the society that is needed to support these businesses.

We need firm decisive leadership, because it is clear to all that there is no collective agreement on the statements made to the public. There seems to be a free for all as far as access to the media and the ability to make statements by all.

I will close by saying this; I understand that serious action needs to be taken. I am however against the methods by which this action is being communicated and the effect it is having on the society and business development.

All the while, the business community cries out for My concern is not just with some firm word on the the obvious emotionally action to be taken. How are businesses supposed

It’s not that I don’t love Caesar, it’s that I love Rome more!

The Small Business Association (SBA) is the island’s non-governmental, non-profit representative body for micro, small and medium enterprises. The SBA seeks to expand business opportunities for its members, provide educational and developmental services and lobby to ensure an enabling environment for the growth and sustainability of the SME sector. For more information on the work of the Small Business Association, please visit our website: http://www.sba.bb SBA Outlook Newsletter

January 2014


Sba outlook Newsletter January 2014