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Robert Gregory sees nation branding

BUSINESS LOUNGE

AS VITAL TO JAMAICA’S ECONOMIC FUTURE Speaking at the official launch of Superbrands Caribbean, Robert Gregory, President of Jamaica Trade and Invest said that Jamaica, as one of the most recognizable nation brands in the world, is well positioned to build an even more competitive advantage in the global marketplace for our goods and services, thus maximizing our potential to earn more from what we have to trade and sell to the world.

sic value that defines us best and differentiates us from the rest of the world” Mr. Gregory said it was vital for Jamaica’s business sector to realize that the next economic frontier for the Jamaican economy depended upon our ability to leverage our people’s culture into high-value globally competitive niche products and services for economic wellbeing and sustained prosperity.” This, he said, was the economic tenet upon which Brand Jamaica must be premised.

He said the establishment of a Caribbean arm of Superbrands, the world’s leading brand recognition organization, presented a great opportunity for Jamaica and the region to showcase its products and services that are specially differentiated in the global market, particularly in the areas of tourism, exports, investments, governance, culture and heritage.

Main players behind the establishment of Superbrands Caribbean are renowned market researcher Don Anderson who is Chairman of the Board of Directors and and Communications Consultant Keith Brown who will be CEO.

In the case of Jamaica, he said the nation-brand-

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Anderson said the Superbrands organization is acclaimed worldwide as being an independent authority and arbiter of branding excellence and is committed to paying tribute to exceptional brands and promoting the discipline of branding. In his presentation, Mr. Brown spoke of the opportunity that now existed for the products and services of the region to be showcased through the annual brand-focused publication that was the operational core of Superbrands internationally.

ing strategies now being promoted by Government through Jamaica Trade and Invest “have the potential to serve as a nexus for the transformation of the nation, its economy and social infrastructure, the psyche and attitudes of its people and the accomplishments of its economy”. Pointing to the fact that Jamaica’s culture” is an intrin-

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Robert Gregory, President of Jamaica Trade and Invest

He disclosed that 82 nations across five continents comprise the Superbrands network and that over 8,000 brands have been recognized as having met the stringent quality standards for the Superbrands Award of Excellence. Among these was one Caribbean organization, the Sandals Resorts, which was named among the top 500 brands in the United Kingdom last year. “There are, he said “ many other Caribbean organizations which meet Superbrand standards of quality, reliability and distinction and our organization will be showcasing them to the world starting this year when we expect our first publication to be off the press”.

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10 Smart Steps to:

learn about money market Provided by: Financially S.M.A.R.T. Services

I would like to start investing, but it seems that this dream might be out of my reach, as I don’t have a lot of money. Is it possible for people with small incomes to invest?

Raise Your Financial IQ! -

MONEY $MART...

Answer:

We often think of investors as wealthy stock traders like Warren Buffet or real estate moguls like Donald Trump; however, persons with small amounts can easily invest in the money market. Here are ten things you need to know about the money market:

1. What is the money market? It is the financial mar-

ket for short-term borrowing and lending of money for up to 12-month periods.

2.

Who are the players in the money market? Entities such as the government and large corporations usually borrow money from individuals and companies through brokers and primary dealers.

3.

How do you earn from your investment? Most money market instruments offer a fixed interest rate for an agreed period of time. For example you could invest $10,000 at an interest rate of 10% per annum. In Jamaica, interest on money market investments is subject to withholding tax.

4. How do you get your money back? Your prin-

cipal (the amount that you have invested) and the agreed interest amount are paid back at the end of a specified period. You can choose to continue the investment at that time by reinvesting the principal and interest.

5. What if you need to get your money back before the agreed date? If the investment is broken before the maturity date, you could receive a lower interest rate than originally agreed.

6. What is a certificate of deposit? This is issued by

commercial banks and other deposit-taking institutions. The interest rate you receive will depend on the amount of money and length of time invested.

7. What is a Treasury bill? This is issued by the gov-

ernment. It is different from other money market investments as it is sold at a discount price (less than its true value). Upon maturity of the Treasury bill the investor will receive the full principal amount.

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8. What is a repo? This instrument is created when

the owner of a government security trades it for cash, but agrees to repurchase the security for an agreed price (inadvertisement clusive of interest) at a future date.

9.

What is commercial paper? This is issued by large corporations to finance their inventory and working capital needs. The interest rate on commercial paper is normally higher, as there is more risk attached to this investment.

10.

What are the risks of money market investments? One risk is that the debtors may be unable to pay the interest or principal as agreed. However, most government instruments are considered almost risk-free.

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Financially S.M.A.R.T. Services is Jamaica’s number one source for practical, down-to-earth and independent answers for all questions relating to personal finance. Get more money smart advice at www.financiallysmartonline.com. Email advice@financiallysmartonline.com with comments or questions.

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Question:

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Managing Money Risks -“Surviving Disability” by: Michael McGibbon CLU

Have you insured this asset? If disability suddenly stops you from being able to work, how would you earn an income? How long would you survive without a paycheck?

Mind your business

If the situation described above is a cause for concern, you need disability income insurance. You can become disabled either from an accident or for medical reasons. One life insurance company defines disability as “the inability of the life assured to perform any part of any occupation in which he was engaged immediately before the onset of the incident. Further, the life assured must not be following any other gainful occupation.” Disability is often referred to in life insurance circles as the worst hazard, because if you become disabled: 

You stop earning salaries or wages,

 Your life insurance policies will not pay, since you didn’t die,  Your illness will consume a significant portion of available funds. Here are a few facts on disability:  Each year, 1 person in 8 will suffer disability (Source: National Association of Insurance Commissioners)  1/3 of all people between the ages of 30 and 64 will become disabled sometime in their lives (Source: Health Insurance Association of America)  At age 32, the chance of being disabled for 90 days is 6.5 times greater than the chance of death (Source: National Association of Insurance Commissioners) 

75% of disabilities are caused by an illness

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rather than an accident (Source: Commissioner’s Disability Table)  Workers today are 3 times more likely to suffer a long-term disability than die during their working years (Source: The Council of Disability Insurers, The Long Term Disability Claims Review: 2005)  The likelihood of being disabled for more than 3 months is greater than dying in any given year (Source: Society of Actuaries) Disability income insurance should therefore, be an important part of your long-term financial security plans. It can help to secure your dreams, lifestyle and income, regardless of your occupation or industry. Even substantial savings can run out quickly if they are your only source of financial support. The risk of disability due to illness or injury is great and the cost of not being prepared is severe. Why take the chance? Disability income insurance is available from your local life insurance companies. Call your life insurance advisor or insurance broker for more information on this useful long-term financial security plan. Remember, it is always better to have it and don’t need it, than to need it and don’t have it!

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Mike is a veteran long term financial security planning advisor and an entrepreneur. He is passionate about creating wealth via several strong income streams. He is a committed Kiwanian. See more of his work at http://miketheentrepreneur. wordpress.com E-mail him michaelmcgibbonclu@gmail.com

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f you are like most people on this planet, you are not financially free. You would not be able to stop working and still support yourself and your family from your financial resources. Your ability to work for a salary or wages would therefore be one of your greatest assets.

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