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BIDC Business Catalyst 7 #4.indd 3 12/16/11 4:55:50 PM July - September 2011 Contents Volume 7 #4
Editor’s Desk - Trade Shows, Expos & Conferences 5 CEO’s Desk 6 - 9 Making Footprints Around The Globe 10 -11 Challenges of Entrepreneurship 12 -13 Pride In Industry 14 Full Speed Ahead 16 - 17 Animation Comes Alive 18 - 19 Winning Designs 20 Dream Imagine Believe 21 - 22 Carving Out a Niche 23 Food for Thought 24 -25 Skill-full or Empty? 26 The Barbados Competitiveness Progremme 27 Factoring Programme for SMEs 28 BBC Notebook 29 EcoScope 31 When In...Belize 32 TradeScope 33 Manufacts 34 - 35 PG. 15 Full Speed Ahead
The BARBADOS BUSINESS CATALYST is published quarterly by the Research, Information and Design Services Division of the Barbados Investment & Development Corporation. It offers information and advice on trade and commercial issues to the business community. Information contained herein may be reproduced if accredited to the BIDC. Items of interest to local manufacturers, exporters, entrepreneurs and potential investors are welcome.
Editor: Jane Brome, Email: [email protected] PG. 14 PG. 23 Pride In Industry Carving Out a Niche Editorial Team: Fern Lewis, Email: [email protected]
Design & Layout: G&A Communications Inc. Cnr. Harts Gaps & Hastings Main Road, Christ Church. Tel: (246) 437-2214; Fax: (246) 228-5204; E-mail: [email protected]
Disclaimer: Some of the views expressed in this publication are the views of the writers and not necessarily those of the BIDC. © 2011 BIDC.
Printed By: COT Caribbean Graphics, #16 Newton Industrial Estate, Christ Church. Tel (246) 420 8550 • Fax (246) 420 8555 Email: [email protected] PG. 24 PG. 28 Food for Thought Government Launches Factoring Programme For SMEs
4 Barbados Business Catalyst • July - September 2011
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By Jane L. Brome
t has become increasingly evident Development here at the BIDC, Mr. Michael Bynoe, will expand that diversification, new sector and on these as well as share his vision for the sector. Iproduct development are essential if Barbados is indeed to take The spotlight is also shone on exporting, featuring Barbados’ top advantage of new and emerging export companies, its products and markets. In keeping with the opportunities and is to secure its theme, Enterprise Barbados, Making Footprints Around place in international trade. the Globe, we share with you some of the market entry strategies engaged by these companies in the hope of inspiring Arguments for greater self-enterprise and innovation have often more to follow their lead. been articulated in the push to see Barbados transcend traditional boundaries. The importance of niche marketing and meeting international standards requirements, particularly as they relate to food safety This issue will focus on entrepreneurship and its role in making and quality are also expanded on in this edition. Barbados a producing, exporting nation. We are highlighting inspiring stories of thriving companies like auto manufacturer, And as the BIDC bids farewell to CEO Mr. Wilbur Basil Lavine, L&N Incorporated and animation specialist, West Learner. This we share with readers his parting words, marked by lessons edition will also cover some of the key challenges confronting learnt and hopes for the future. entrepreneurs. Newly appointed Director of Entrepreneurial
Trade Shows, Expos and Conferences
Sir Winston Scott Memorial Lecture Monday, November 21, 2011 to improve disaster risk management awareness and exchange information on Prof. the Hon. Cardinal Warde, a Barbadian physics professor at the good practices, while building stronger professional networks. Massachusetts Institute of Technology (MIT), will deliver the 36th Sir Winston CONTACT: http://www.cdema.org Scott Memorial Lecture at the Frank COLLYMORE Hall. The title of his lecture is “Science, Technology and Business Education Reform for the Caribbean”. Caribbean Marketplace 2012, January 22-24, 2012 CONTACT: http://www.centralbank.org.bb This event is open to suppliers, buyers and marketing companies targeting the hospitality sector. Scheduled for the Atlantis Paradise Island, Bahamas, 6th annual Caribbean Conference on Comprehensive Disaster registration is now open. Management, 5-9 December, 2011 CONTACT: http://www.caribbeanhotelandtourism.com The Annual Caribbean Conference on Comprehensive Disaster Management is the region’s premier event on disaster risk management. Organized by the BIDC Exporters Conference, Tuesday, February 21, 2011. Coordinating Unit of the Caribbean Disaster Emergency Management Agency This inaugural event under the theme “Engaging the World” will focus on the (CDEMA), the Conference is the region’s largest gathering of professionals requirements of embracing the export challenge. Scheduled for the Lloyd in the fields of disaster management and professionals from sectoral and Erskine Sandiford Centre, further details will be coming soon. thematic fields who have specific responsibilities in this area. Attending this CONTACT [email protected] event scheduled for the Hyatt Regency Trinidad, is an excellent opportunity
Barbados Business Catalyst • July - September 2011 5
BIDC Business Catalyst 7 #4.indd 5 12/16/11 4:56:04 PM CEO’s Desk
CEO Signs Off Wilbur “Basil” Lavine retired as CEO of the BIDC at the end of September. He reflects on time spent and the way forward for the Corporation.
exports of fine foods to the United Kingdom market. During my .In the time that you have led the Corporation, term as CEO we also completed the Newton Business Park, a would you say you have achieved much of what you major project which had presented many challenges. Qhad intended? Q. What would you say were some of your greatest A. I would say a reasonable amount given the prevailing climate. accomplishments? I assumed the leadership of the Corporation just as the recession took hold and amid several challenges. I brought a vision which A. I believe that staff should be encouraged to add value to I am led to believe had the approbation of the management themselves so that they could also add value to the institution and and staff. Corporate and divisional goals and plans were then to the clients they serve. And so for me, it was very important to developed. Initially, we were aiming for sector growth in the make a positive difference in the lives of staff, encouraging them industrial and small business sectors. But certain critical success to upgrade their skills and to seek career advancement. I believe factors (assumptions), which included the availability of adequate I have been able to do some of that, even though not all of what finance, favourable investment climate, etc., failed to hold and in I intended. I have seen secretarial staff and others upgrading their consequence, some objectives had to be modified or abandoned qualifications and taking positions of much greater responsibility. in the face of a new policy orientation which sought, inter alia, This pleased me very much. to further the stabilization of the sectors, rescuing companies in difficulties, saving jobs, etc., by way of a Rent Relief Policy During my tenure at the Corporation, I was also able, with and other measures, through which company closures were the support of the managers and staff, to effect the design and minimized. Despite the difficulties, our export drive was also implementation of some systems and policies to meet stated kept up and growth was experienced in some areas, such as objectives. Specific examples include:
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BIDC Business Catalyst 7 #4.indd 6 12/16/11 4:56:07 PM CEO’s Desk
Basil Lavine attending an EPA seminar
Mr. Lavine leading a BIDC strategic planning session the coordinating of an exhibition and the production of a GIS video in association with Mr. Keith Richards of Barbados Light & Power as co-chair of the Technical Advisory Panel and the benchmarking of the knowledge management system for Technology Transfer, during the United Nations Global of the Corporation against that of a major international service Conference on Sustainable Development held here in 1994; institution in 2000.
my contributing to national sustainable development In 1998, I was the Corporation’s representative among many policy as the Corporation’s representative on the National very senior public and private sector Caribbean officials on Commission for Sustainable Development under the the CARICOM Mission to Southern Africa. I was the only chairmanship of the late Professor Oliver Headley; Barbados public sector officer on that mission and I filed a report on the mission. the establishment of the Information Technology Department and the development of the Corporation’s With reference to current areas of focus for promoting computer network, involving all the overseas offices that sustainable development: Initiating in 2009/2010, the were then part of the Corporation, together with the development of a BIDC Green Policy and a Green Industrial Internet capability; Sector Development Plan focusing on green energy, etc., and the establishment of a think tank, namely the Science, Technology the changing of the concept of a library to that of a and Innovation Committee – the Renewable Energy Forum, computer-based Information Services Centre; for advancing this cause. As such, it took a special interest in renewable energy and had been engaging a company working on also from the concept of a registry to that of a computer- a pilot project on solar energy. The Renewable Energy Forum based Records Management Centre; was placed within this framework firstly, so as not to contribute to an unnecessary growth in the number of committees, and the general upgrading of the information collection and also, to maintain the natural nexus with the other disciplines. reporting systems and the quality of analysis within the The Committee, cross-divisional, was also to discuss business Research Division; development issues centering on any of the disciplines within its ambit and as a base for interacting with individual companies, the designing of the Special Technical Assistance Programme other stakeholders and the National Council for Science and (STAP) and the Turnaround Management sub-programme; Technology. The relationship with the National Council for Science and Technology was considered very important, since upgrading the Technical Assistance Programme (TAP), with that institution should also have a leading role to play in the the assistance of the National Productivity Council laying the fostering of an innovation culture and furthering the development foundation of the Key Performance Indicator (KPI)-based of science and technology-based industries in Barbados. Incentive Scheme; Q. Given the prevailing corporate climate, what would be implementation of an operational framework that has your prescription for assisting the local productive sector resulted in the timely presentation of the Corporation’s in coping? Annual Report each year;
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A. Since about 2001, we have been living in an age of By concentrating on those projects best able to add value, increased turbulence and chaos, as the worlds of finance, assisting companies to do things differently and to do different economics, politics, the civil society and the establishment, the things. environment, and matter and energy appear to be in collision, within themselves and some with one another; the earth itself Given the substantial changes in the environment since its seeming to be in upheaval. There has been disaster after disaster reorganization in 1992, the Corporation needs to re-invent with major economic fallout worldwide, the negative effects of itself for meeting the new challenges and for promoting which have been propagated at almost the speed of light along entrepreneurship based on the drivers of the New Economy, technology’s super highway of connectivity and through other science, technology and innovation, or it will run the risk of international networks. being marginalized as other organizations build up business development capabilities in these driver areas and seize the initiative. The Corporation has long been the premier business Bobby McKay and Mr. Lavine at BMEX 2009 development agency in Barbados and needs to continue being seen as playing an effective role in these new areas as a leader organization.
The BIDC has, for a long time, been in a position where it tried to be all things to all people. It is now facing an acute scarcity of resources. Despite this so far, the Corporation has been providing rent relief and taking other measures in what was designed to be a time-bound stabilization effort to help arrest the slide. But this has been rather costly. Now would be the time for the organization to encourage innovation within and without, and more in-depth research and analysis for becoming more focused in its purpose. Now is the time for corporate renewal. The Strategic and Action Plan for 2011/2012 embodies this philosophy of corporate renewal.
Q. What in your opinion are some of the biggest challenges confronting the Corporation and how might these be overcome?
The implications for the local economy have been profound A. There are several but I will mention three which I believe and problematic, with the local corporate climate in a state of are among the most strategic at this time unprecedented flux, augmented also in part by local deficiencies. Coping and continuing viability will require companies keeping Remaining in the forefront of the development process as the on top of developments (economic, financial, socio-political premiere business development agency. and technological), being efficient, responsive, collaborative Keeping focused on its mandate and asserting itself with stakeholders, being receptive to new ideas and forever seeking new pathways. This will not be an easy task. The future Being always relevant. prospects will also depend on the devising of prudent macro- Managing for the present while leading change for future economic policies and upon our success in exhibiting strong, growth and sustainability. insightful and innovative leadership in guiding corporate renewal, within and without, in this period of turbulent change. This Being a model of efficiency as required by its role in promoting matter was touched on in my article “Discontinuous Change, the Green Economy, especially in the face of prevailing Corporate Renewal and Leadership” published in our corporate scarcities. magazine the Barbados Business Catalyst. Mobilising resources and ensuring that they are mostly directed towards activities likely to yield significant positive socio- Q. With regards to the Corporation’s work, how might economic returns, taking possible externalities into account the BIDC be better able to assist companies? by relevant in-depth analysis and appraisal consistent with the objectives of the green economy, especially for larger projects. A. Firstly, by not being all things to all people; by focusing its Micro projects need not be subjected to this analytical rigour. scarce resources on a narrower range of activities and doing them as well as can be. In this age of turbulence and chaotic transition, it is easy to get caught up in activities which though important, could
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cause a diversion from the mandate and raison d‘être of the some possibly from divestments. From a national economic Corporation, that of promoting sustainable industrial business perspective it will therefore be important for such resources to development. The danger in this is that at some future point be allocated for the highest economic returns. in time the credibility, relevance and future of the institution could be questioned in relation to its mandate as stated in the Act governing its establishment and operation. As the premier Q. What has been most memorable about your tenure at business development agency in Barbados, the Corporation is not the BIDC? just an institution for implementing policy, but also one to help point the way forward in policy formulation in industrial business A. I have, while at the BIDC, been involved in some very development. interesting activities, met some very influential people and have forged great relationships at home and abroad. But above all, The Corporation in its traditional mode has always had a close is that relationship that I have developed with staff at all levels relationship with traditional sectors − crafts, garment, furniture, of the Corporation. I would like to believe that I showed my food and beverages manufacturing, etc., and it is proud of this respect for each and everyone and that at no time did anyone continuing relationship. However, in looking forward it will be feel slighted. If it did happen, I would wish to assure them that it recognized that there is a need to foster the development and was not intentional. I will always remember the little meetings I growth of new and emerging sectors, while still continuing to had with individual staff members during my almost daily “Good support the traditional sectors, fostering innovations in this latter Morning” rounds; those little chats through which I got to know group as well. It is not one or the other, but both simultaneously. my staff better. It became to me a very important event in my The leadership must seek to encourage new sector exploration, day, the little discussions through which I got to share my little especially in non-traditional areas based on ideas that could bits of knowledge and also to learn from staff members who give rise to what may be called disruptive innovations. The were often specialists in their own fields. We must be mindful promotion of innovation labs and the general encouragement that very much of what we are able to achieve, depends on the of experimentation is, in my view, among viable approaches for people around us and the strength of our relationships. It’s never moving forward. a situation where you can honestly take all the credit for yourself.
Mr. Lavine meeting Minister David Estwick and PS Bentley Gibbs at the renewable energy forum
The challenge is really a balancing act of managing the present, while leading change for a future in a world which has seen Q. What thoughts would you like to leave with the economic structures incessantly revolutionized from within, Corporation and its stakeholders? by the promotion of entrepreneurship based on science and technology and innovation. With the acute scarcity of available We’re in an environment where knowledge is growing resources this could mean giving up the pursuit of some short- rapidly and technology is advancing at an ever increasing rate. term transient objectives for more sustainable returns in the Yesterday’s successes were yesterday’s and not today’s. We future. This may not be an attractive prospect. should not dwell idly on past successes, as they could then become sources of weakness. The methodologies of today may The Green Economic movement is in full swing as efforts to have no relevance in 10 years time, not ignoring the fact that promote sustainable growth and development are gaining tomorrow’s fruit will be borne on trees grown from seeds sown momentum in the face of an increased environmental awareness, today. We live in a world of constant change so we must be in the broadest sense. Efficiency of resource use is among the open and pursue continuous learning and innovation. We must important objectives in this campaign. The present scarcity of be adaptable and continue to seek input from as many sources as resources has highlighted the need for increased efficiency in possible. We can never do it all on our own. Barbados. The Corporation will be required as never before to grapple with the challenge of mobilizing resources on its own,
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BIDC Business Catalyst 7 #4.indd 9 12/16/11 4:56:08 PM Barbadian Globetrotters
Making footprints Around
the Globe By Jane L Brome
arbadian export values were registered at $472.4 million at the end of 2010. This was up from $439.5 million in 2009 and $526.3 million in 2008. Between 2001 and 2008, merchandise export sales increased by 7% annually to expand from $352.7 million to $526.3 million. Projections are that exports volumes in 2011 are on track to exceed the 2010 performance, coming Bin at $374.1 million at the end of September 2011. This compares to $347.7 million at the end of September 2010. Barbadian goods are currently being exported to 103 markets around the world. An analysis of trade volumes at the end of July 2011 indicates that CARICOM remained Barbados’ largest export market accounting for 36.0% or BDS $65.8 million of total domestic exports. Barbados’ shipments to CARICOM when compared to shipments in the country’s overall exports have however been on the decline while exports to other territories have been increasing. Exports to the US grew to the extent that 19.3% of Barbados’ foreign shipments are headed there. Trade with the EU amounted to 30.47% and that to Canada 2.35%.
Barbados’ main export products include: rum, pharmaceuticals, sugar, cement, margarine, printed labels, sweet biscuits, margarine, wheat flour, aerated beverages, wire wound resistors, aluminum and steel food packaging, insecticides, intra-ocular lenses, paints, windows and doors, prefabricated building structures, natural asphalt and sails.
Barbados’ top export companies are noted below: BARBADOS’ TOP EXPORT COMPANIES (DECEMBER 2010) CANADADRUGS .COM TT ELECTRONICS THE WEST INDIA ARAWAK CEMENT COMPANY CARLISLE LABORATORIES ORAN LIMITED OF BARBADOS LTD LTD. BISCUIT CO. LTD. LIMITED LIMITED
MOUNT GAY CARIBBEAN LABEL BARBADOS DAIRY ROBERTS MANUFACTURING CROWN PACKAGING R. L. SEALE & DISTILLERIES LIMITED CRAFTS LTD. INDUSTRIES LTD CO. LTD (BARBADOS) LIMITED COMPANY LIMITED
THE WEST INDIES RUM MCBRIDE LENSTEC BARBADOS BARBADOS AGRICULTURAL BERGER PAINTS STRUCTURAL DISTILLERY LTD (CARIBBEAN) LIMITED INC MANAGEMENT CO BARBADOS LIMITED SYSTEMS LIMITED
These are the Barbadian companies making footprints around They utilised a range of options to gain market intelligence on the globe. potential markets, these options included participating in trade missions A recent analysis by the Barbados Private Sector Trade Team shows some important common characteristics in the export They were not afraid to approach government officials or strategy of some of these companies. These include the other business support agencies in the export market to following: determine how they could best enter the markets and they further used such interfaces to engage in aggressive marketing; They actively sought export opportunities as opposed to depending on other sources to point out them out; They were persistent- they were not deterred by initial negative responses to their attempts to enter export markets; They never considered themselves to be too small to seize opportunities; They were not wedded to one particular type of market entry- if they could not export directly, then they considered They made use of a number of options to strengthen their using other vehicles to trade such as joint ventures; businesses which ranged from entering their firms into competitions which gave them access to additional capital to They made it their business to understand the rudiments of accessing the more user-friendly local business support funds trade as they pertain to their particular operations; and schemes;
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They voluntarily committed themselves to ensuring that their strong reputation/confidence in ability operations complied with internationally recognised standards; prior international experience or the ability to recruit and above all, they had a hunger to succeed. experienced people in market presence – closeness to customer Analyses suggest that Barbados’ exports are not adequately good interpersonal skills of staff/cultural understanding diversified both in terms of the products, services exported, and credibility the markets which are serviced. This suggests a need for more companies to emulate the current export leaders. Any company So beyond adopting these characteristics, it is recognised that with a product or service can export, or at least attempt to some firms will require additional assistance. export. But success is far from guaranteed. The BIDC is undertaking several initiatives to ensure export growth and diversification. The market development By Jane L Brome At the best of times exporting can be a complex and challenging process. Yet, when it is approached with careful deliberation, programme, spearheaded by the Export Promotion Division exporting offers you opportunities for growth, increased sales of the BIDC, is aimed at increasing Barbadian exports in the and diversified markets. A marketable product or service is international markets of the USA, Canada and the UK. The only the beginning. Exporting takes time and effort. It also takes programme uses in-country market representatives and a resources and a strong commitment to compete beyond your principle importer to help introduce Barbadian products in new current borders. markets. The initiative utilizes a number of strategies including niche marketing, branding, certification and the attainment For companies that have made exporting part of their long-term of quality standards in helping manufacturers to capitalise on growth strategy, they know some of the ups and downs for potential export sales. The programme is unique in that it manufacturers just starting to export: concern about the language brings together a coordinated network of resources for the and cultural differences, not knowing where to start or how to manufacturer, importer, wholesaler, retailer and consumer. make inroads into new markets, fear that foreign consumers won’t pay once the products leave the country. The Corporation also plays a lead role in facilitating and organizing trade missions to generate interest in Barbadian Breaking into a new export territory requires brands, engages in an aggressive promotional and marketing long-term commitment programme in targeted markets and frequently facilitates training relationship development (distributors, local government, to give existing and potential exporters a firsthand look at the joint venture partners) marketing requirements for tackling targeted destinations patience (government, culture, realistic time frames and successfully. There is also the export resadiness programme, budgets) which grooms new companies for export market entry. It is a strong domestic client base to leverage (especially if hoped that these activities will serve as tools to drive the export internationally recognised) effort, resulting in increased exports, penetration of non- uniqueness of product and Intellectual property protection traditional markets and improved foreign exchange earnings.
BARBADOS’ TOP 25 EXPORT MARKETS (JUNE 2011) MARKET EXPORTS MARKET EXPORTS
($) ($) UNITED KINGDOM 66 959 600 FRANCE 4 299 489 UNITED STATES 46 205 253 SURINAME 3 763 040 TRINIDAD & TOB. 17 587 154 ST. KITTS/NEVIS 3 309 216 ST. LUCIA 17 149 883 DOMINICA 3 125 512 JAMAICA 13 840 099 BR. VIRGIN IS. 2 751 654 GUYANA 13 044 472 DOMINICAN REP. 2 228 082 ST.VINCENT 11 161 241 BAHAMAS 1 708 283 GRENADA 7 365 734 GERMANY 1 506 055 ANTIGUA 6 763 572 BELIZE 1 417 954 CHINA, PEO.REP. 6 382 475 ANGUILLA 954 017 CANADA 5 835 844 U.S.V I 887 141 NETH. ANTILLES 4 353 248 HAITI 858 799
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Challenges of Entrepreneurship
Michael Bynoe is the new man in charge of is led by individuals who can be considered entrepreneurial. entrepreneurial development at the Barbados However, many of the lessons learnt from experiences in both types of development are similar. Investment & Development Corporation. He previously served as Manager of the BIDC’s Entrepreneurial Development Division. Bynoe Q. What in your opinion are some of the major challenges took time out during his first few days in the confronting the SME sector? chair to share his vision with the Barbados A. We have been inundated with many answers to this question Business Catalyst. from many sources. They include: poor financial positioning/ raising finance; access to raw materials; no real understanding Q. What is your assessment of the environment and of the market; export difficulties; managerial inadequacies; opportunities for entrepreneurial development? lack of innovativeness; lack of appropriate infrastructure; and lack of properly trained staff. A. There are two things here I wish to address: In Barbados, the major challenge confronting the SME sector A. When you speak of the environment for entrepreneurial from where I stand is not so much a scarcity of finance as is so development, I take it you are referring to the factors which repeatedly advocated, or those other issues identified above, provide an atmosphere for business. but a lack of a true entrepreneurial culture. Understanding The environment for entrepreneurial development has always the components of an entrepreneurial culture is just the been a challenging one, particularly as we are experiencing first step in helping businesses to understand some of the now. When economic/financial downturns result in a challenges that must be faced in order to overcome the tightening of the overall volume of credit available, businesses primary barrier to economic development. Inherently, will face even greater financial problems that increase the there is also the need to consider your readiness for default risk associated with smaller companies. entrepreneurship.
B. When we speak of entrepreneurial development we refer to the process of enhancing entrepreneurial skills and Q. How could some of these challenges be tackled? knowledge through structured training and institution-building programmes and concentrate more on growth potential A. We need to determine from the outset whether the and innovation. This accelerates employment generation real focus is entrepreneurship or self-employment, then and economic development. Small and medium-sized decide on the objectives accordingly. There is a pervasive enterprise (SME) development, on the other hand, focuses tendency to equate entrepreneurial development with self- on developing the enterprise, whether or not it employs or employment. Many self-employed individuals in Barbados
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are indeed entrepreneurs, but the majority are not. Their businesses are simply microenterprises in the informal sector, with little growth potential or any particular intention to grow beyond what is considered their comfort zone. The promotion of self-employment is a very noble objective and certainly one that as an agency of government we cannot ignore, but it should not be confused with entrepreneurial development.
Q. What are your top priorities for entrepreneurship development within the short to medium term?
A. Entrepreneurship development should be about helping people start and grow dynamic businesses that provide high value-added. My priority for the short to medium term would be a selection process that attempts to identify those individuals or partnerships that have some of the key prerequisites for entrepreneurial success. Let me state very clearly here that this is not at the expense of other players in the sector. The country needs some success stories at the moment to help move the economy forward and improve our foreign exchange position. While I am well aware that it will be argued that public funds should be spent on those who most need help, a selection process deploys limited resources where they are most effective, to the overall benefit of the country.
Q. How do these fit in with the goal of making Barbados the No.1 entrepreneurial hub by 2020?
A. The process discussed above is just a minutiae to the mandate of making Barbados the entrepreneurial hub by Michael Bynoe. 2020. There are a number of anomalies that should be addressed involving component that helps aspiring entrepreneurs to recognize agencies of influence that affect the business sector. To my and design unique, innovative business opportunities, based mind corrective procedures need to be in place from now. I on an analysis of our existing conditions and resources. cannot in all honesty say that any significant improvement is Secondly, to develop a cadre of Business Development taking place. Officers fully trained to identify risks and the factors that affect the levels of entrepreneurship, and determine the likelihood of success in the sector. Thirdly, that business Q. What is your vision for the sector? development services be streamlined in a way that offers the entrepreneur the best possible services available. A. Firstly, that we can develop programmes driven by a research
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arbadian companies have a lot of potential! “What it means is that we will have to give more exposure to This was pointed out by Minister of industry, Small them...if they are lacking capacity we will have to find a way to BBusiness and Rural Development, Denis Kellman, as he and create the additional resources so they can get that capacity to representatives of his Ministry and the Barbados Manufacturing export to the level we would like them to. Association toured Roberts Manufacturing and E. W. Wood Classics at Lower Estate, St. Michael; and Carlisle Laboratories in “It is no doubt that if this country is to reverse all trends, we will Warrens, St. Michael. have to see some ‘super’ companies and the three I saw have the capabilities of doing that; and if it means that we have to work with them for the others to follow, we would have to use them “It is no doubt that if this country is to as the examples,” he said. reverse all trends, we will have to see some ‘super’ companies and the three I saw have Mr. Kellman also the capabilities of doing that ...” added that sourcing of raw materials locally could be used to The Industry Minister expressed satisfaction with what he saw, assist businesses with stating that he was “convinced that we are not only ready to take their endeavours and over the local market, but these companies are ready to take noted that prowess over the world.” in the export market “says a lot for these Noting that Roberts Manufacturing exported almost 70 companies and it says per cent of what it produced and Carlisle Laboratories also that we have to work featured a significant export portfolio, Mr. Kellman observed with them because that enterprises such as these must receive support from they are paying the Government and the public. foreign cost bills for all of us. So, we have He added that the local market may bear certain costs in order to support them,” he Minister of Industry, Denis Kellman (left), speaking with Managing Director of Roberts for a company to expand, but maintained that the growth was a asserted. Manufacturing, David Foster, during the tour. necessary step for increased capacity for the company.
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BIDC Business Catalyst 7 #4.indd 14 12/16/11 4:56:19 PM Trailblazing FULL SPEEDAHEAD
By Jane L Brome Norman (left) and Ricky Edwards.
& N Workshop Inc is igniting new engines of growth within It’s just the start of a dream come true for Norman, whose a specialized niche of the local transport sector. And ingenuity is transposed in all the L&N vehicle conceptualization Lthis company seems set to blaze a trail not only within and design. Moving from the construction of bodies for dry goods Barbados, but also across the Caribbean. delivery vehicles, L&N is now manufacturing minibuses. There are currently three vehicles on the road made by L&N, two in Managing Director, Norman Edwards, along with Administrative production and another two on order which should be rolling out Manager, Ricky Edwards, recently took the Barbados Business by yearend. Catalyst on tour of the 18 000 square foot, Cane Garden, St. Thomas facility for a first-hand look at the state-of-the-art “It’s a new venture we’re very excited about and it’s coming operation. at the right time,” Norman said. With the minibus fleet on the road estimated to be about 20 years old, he explained that Founded in February 2002 with Norman at the helm, L&N − L&N, in partnership with Simpson Motors, is positioned to specializing in the repair of minibuses and the fabrication of offer a modern vehicle, superior to that imported. Under the bodies for trucks and delivery vehicles - sought to fill the void partnership, Simpson Motors provides the Isuzu chassis on which that was created following the demise of ACME Barbados Ltd. the L&N vehicle is built. Nine years later, the innovation and new product development thrust at the heart and soul of this company has propelled its As Norman explained, “Our vehicles are designed taking into employee roll from nine to 50 and launched a new line of vehicles consideration all our market peculiarities like conditions of the especially built and customized for Barbadian roads. road, corners, frequent stop and go and load factors. They will therefore show less wear and tear than an imported vehicle.”
Barbados Business Catalyst • July - September 2011 15
BIDC Business Catalyst 7 #4.indd 15 12/16/11 4:56:20 PM Trailblazing
Two L&N staffers getting it right
The L&N minibus boasts a better load capacity which means largely out of a willingness to “identify problems and offers there is less wear and tear on the engine and chassis. solutions and concepts…We have been concentrating on those projects that need unique manufactured products and solutions, “It’s safer for the sector too in that it can comfortably carry loads and we’ve been focusing on products that are more cost effective better. It is built with non-corrosive materials and the interior and that are more efficient.” outfitted with more durable materials that also allow for easier cleaning. The new minibuses are also more focused on passenger “We recognize that in order to improve our competitiveness comfort, fitted with more individual seats and reversible fans that we have to reduce our cost of production, and we have been extract the heat and bring in cool air. It’s longer too so it can hold researching cheaper materials which can be used in production more passengers, but is still not oversized.” while not compromising on the quality of the vehicle we offer.” It is their insistence on high-quality production that in fact won Vehicle customization is also a key aspect of the company’s over officials at the Isuzu Corporation in Japan and endorsement operations. The mobile units utilized by the Royal Barbados of the L&N buses. On initiation of the project with Simpson Police Force, and the Department of Emergency Management’s Motors, Norman reported that within three months, three top (DEM) vehicle, are also produced by L&N. The police units, one Isuzu officials visited the workshop and were amazed at the built here from scratch and the other a rebuilt import, boast production being undertaken. They have since endorsed the conveniences like office space, a bathroom, kitchenette and product and are keen to promote it in external markets. even a holding area. The DEM vehicle, which Norman said was That’s a major plus for the company since beyond existing built at heavily subsidized costs given the company’s recognition market niches, L&N is also exploring the development of a of the importance of such a vehicle, was especially designed to product line that can be readily sold with regularity, in both local carry first aid and emergency equipment as well as other modern and export markets. conveniences. Other specialized vehicles rolled out by L&N include the Transport Board’s mobile command unit and the The company has initiated market scoping within the region and Hope Sanctuary’s veterinary unit. even participated in a BIDC-hosted trade mission to Grenada and St. Lucia earlier this year. And while significant interest was L&N also offers vehicle collision repair and full restoration expressed in L&N’s production capabilities, Ricky noted some services to both commercial and private owners. market entry hindrances which would have to be tackled. These, As Ricky explained, the company’s capacity for growth comes he explained, related to the legislated definition of a minibus in
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BIDC Business Catalyst 7 #4.indd 16 12/16/11 4:56:22 PM Trailblazing
these territories. Where as a minibus produced here seats 28 persons for example, a minibus in St. Lucia is defined Inside one of the customized mobile units. as a 14-seater. So while this particular market niche may prove difficult to penetrate, L&N has opted to focus on the marketing of its customized vehicles.
“It’s really for us to convince those in the other islands of the usefulness of outpost vehicles, mobile offices and stations,” Norman said, noting the flexibility that comes with being able to deploy a mobile unit at anytime and anywhere for example. He further added could serve well in arriving at final decisions on building permanent structures.
“The major thing for us is to build on what we have and make it better. We want to ensure that the company is sustainable and we want to ensure a bright future for the company and its employees. We have invested heavily in training and will continue to do so to improve on the skills that we have available,” Ricky said.
Emphasizing that L&N is very employee-centred, he said the company has placed employee safety and health, equal opportunity and the chance to advance at the top of its agenda.
“There’s no limit to where you can go in this company and no limit to where we want this company to go,” Ricky stated.
Some of the new minibuses under construction.
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BIDC Business Catalyst 7 #4.indd 17 12/16/11 4:56:24 PM Spirit of Enterprise
Animation Comes Alive
Some of the characters from the children’s TV show scheduled for airing in 2012
s the World Wide Web, the entertainment industry and other multimedia outlets continue to grow, opportunities for talented animators continue to explode. Computer animation, like many creative fields, is fiercely competitive. Making it in this industry Asegment requires strong artistic skills and a solid familiarity with the latest in computer animation technologies. It also requires the ability to turn creative thoughts into compelling images, using them to effectively communicate an idea.
Barbadian company, West Learner Inc, through its subsidiary entertaining, he said it will include discussion and song-and- division West Toonz, is proving to be somewhat of a pioneer, as dance elements, and will touch on elements of the educational it prepares to launch a series of initiatives destined to place the curriculum. Especially targeting children aged 4-11 years, it is company at the forefront of animation development and push the expected that this series will be aired early next year. growth of the industry in Barbados. The four-year-old company has already carved an impressive CEO Curtis Padmore, in a wide-ranging interview with the niche for itself, working on animations for UNICEF as part of a Barbados Business Catalyst, said one of the major things on Positive Behavioural Management Programme for schools. As the cards was the launch of an animated television series. Padmore noted, the four infomercials featuring the characters The Ron Christopher Show, which made its debut this summer Disciplined David, Polite Paula, Healthy Hailey and Considerate on the Web, has been upgraded and refined with humorous Connie are all in production and will reinforce positive elements and is coming to CBC TV 8 in 2012 with weekly, behaviours in children. With its team of eight, including part-time entertaining episodes where the animated host, Ron Christopher, employees and two interns, West Toonz is also exploring the will be interviewing home-grown celebrities in sports, politics, development of content for mobile devices. At the same time, art, music and business. While initially aiming to win over a local the company is better positioning itself for take-off by upgrading audience, Padmore is hoping to expand Barbados’ first animated its website and office space with new hardware and software, TV talk show to include regional elements and audiences. improved aesthetics and ergonomics, and networking at trade shows like the Animae Caribe Animation and New Media Festival And while this show will be targeting the adult demographic, scheduled for October 3-November 6, 2011 in Trinidad, to West Toonz is producing another cartoon series for children. increase its visibility. Padmore explained that the children’s programme will feature West Indian storytelling with a mix of animated and real life characters. To ensure that the series is both engaging and
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BIDC Business Catalyst 7 #4.indd 18 12/16/11 4:56:29 PM Spirit of Enterprise
Some members of the animation team (from left) Amanda Harris , Curtis Padmore, Cherisse Brewster and Jason Haynes
And while these initiatives are intended to drive company growth, the CEO said efforts are also being concentrated on securing the future of the industry. West Learner was one of three companies involved in the production of an animation podcast which explored issues including: Critical Needs of the Barbados Animation Sector; The Growth of Animekon and Anime Caribe; and animation projects and export opportunities for the Barbados animation sector. The production, which is intended to draw attention and investment to the animation industry, is featured on NetworkBarbados, a professional, business networking site created to unleash the export potential of Barbados’ indigenous services sector. Established by Invest Barbados, this unique initiative is geared to providing a platform for the export of Barbadian services to global markets.
Ron Johnson is set to make his TV debut West Learner has set the wheels in motion to strengthen the sponsoring the initiative where the students being trained are island’s artistic expertise with hands-on training. Padmore producing content for the companies themselves. It could be explained, “We are hoping to host two training workshops in something like an animated logo for example.” caricature design and storyboarding free of cost to secondary school students where one student per school is selected by The intense four-week training programme has been developed teacher to participate. It is our expectation that that student will with students of the Barbados Community College’s Fine Arts go back to the classroom to share what he/she has learnt.” Division in mind. It is his intention that the course will conclude with “an evening of animation”, showcasing the work of the The company will also be offering training for new animators in graduates in a formal ceremony. the production software, Toon Boom Harmony. This is all geared towards the advancement of the industry. West Learner has been founded on the principles of not only wanting to be different, but making a difference. And from all As Padmore explained, “We want to do something innovative indications, the company appears set to achieve just that. by inviting the business community to help build the industry by
Barbados Business Catalyst • July - September 2011 19
BIDC Business Catalyst 7 #4.indd 19 12/16/11 4:56:34 PM Achievement WINNING DESIGNS
arbadian Ms. Ichia Tiyi was declared the top designer Mark Fangue and Liz Allen, buyers of Exotic World Gifts summed in the recently concluded Design Caribbean 2011trade up the sentiment of other buyers speaking enthusiastically about show. the trade show.
BHer Tiyi By Design, an exclusive Caribbean brand of hand- “We love the variety, between the necklaces and the tapestries. crafted art jewellery won over a panel of judges comprising All were of very good quality. The silver products were Cindy Bowden, President of the World Craft Council of North extraordinary. We love being here it is a great event and we look America; Milo D. Pickney of Yellow Lama; and Jenny Polanco, forward to next year.” Dominican Fashion Designer Founder and Director of Wedge Curatorial Projects.. Equally pleased was product design consultant Giulio Vinaccia, who was quoted as speaking on the behalf of participating Second prize went to Atelier Dore, who produces modern artisans. Surinamese-designed jewellery hand-crafted from silver. New Caribbean Design, a group representing artisans involved in “Just imagine that only in the first four hours of opening we sold weave design and community development were awarded the more than 50 per cent of the product!” Mr. Vinaccia said noting prize for the Best Collection. Mrs. Kirie Ishmael was named Best that this was a clear indication that success was possible with the Young Designer winning with a scarlet ibis inspired jewellery right approach, layout and new thinking in design. collection. Design Caribbean 2011 also included a boot camp for businesses. Winners received cash prizes, booths for Design Caribbean 2012, Subjects covered included e-marketing which was conducted and marketing support to improve their business over the next by Joseph Mohay, Oline Sale Manager of Global Directories; year. using intellectual property (IP) effectively which was presented by International IP Expert Kayanne Anderson; and creating Executive Director of Caribbean Export, Pamela Coke-Hamilton opportunities and strengthening brands which was led by congratulated the winners, the organizing team, exhibitors and successful designer Marlene B. the buyers. Product designer and lecturer, Lesley-Ann Noel held a session “Craft and creative industries are to be truly celebrated. It is a which focused on creating a social media strategy as a designer way to share expression not only in creation but also in visual or an artisan; Kiran Akal, an accomplished creative thinker enjoyment. The artisans who are committed to the quality and and consultant who has been an ideas generator for well- sustainability of our culture have adapted these traditions to known companies such as Walt Disney conducted a session appeal to the contemporary international marketplace. It is truly on the potential of the Caribbean brand. Executive Director a celebration of the beautiful in craft, culture, music and people,” of Caribbean Export completed the boot camp by telling she concluded. participants everything they wanted to know about Caribbean Export but was afraid to ask. Following on the success of the inaugural Design Caribbean 2011 trade show, Caribbean Export Development Agency (Caribbean The inaugural event, which was funded by the International Export) is now looking to the future and possibly London in Trade Centre and the European Union, not only highlighted 2012. CARIFORUM handcraft but showcased other aspects of creativity. Design Caribbean 2011 attracted over 130 designers from CARIFORUM states who savoured the chance to exhibit their The entertainment industry received much exposure. Part of creative skills and products at the Hotel El Embajador, Santo the offerings was a small film festival of Caribbean films including Domingo, Dominican Republic from September 1 to 4. Ghett’A Life, a Jamaican production that won the Best Pitch Award at the Cannes Film Festival. A music concert featuring of The event connected the exhibitors with buyers, and design artists from the region including Alison Hinds, Roldan, Xiomara enthusiasts from the Caribbean Europe and North America. Fortuna, Onika Best, Belo, Carrot Jarrett and L’Acadco was also held.
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BIDC Business Catalyst 7 #4.indd 20 12/16/11 4:56:36 PM Aspiration Dream, Imagine, Believe! By Fern Lewis, Manager Research and Information Services, BIDC
here’s an old saying that ‘good things come to those Then maybe it’s time you change the who wait,’ but in today’s world where business channel and picture what could be if you just decide to make the opportunities are taken up at lightning speed, it’s more effort. likely to be the things left by those who hustle! It’s also Tbeen said that in such a hyper-competitive business environment, Get up economic success will depend more and more on intellectual capital, self-confidence and belief in oneself. With the possibility The first step to achieving your ‘elusive’ dream is figuring out of another economic recession looming somewhere in the future what you want to spend your time doing. Are you comfortable however, self-confidence and belief may not seem like much to in your job? Do you want to change your career? The times are hang your hard-earned cash on. But as each minute ticks by, the pretty hard and a career change may seem like pie in the sky chances increase that someone else will find that opportunity right now, but if you feel like you’re running out of air in your you’ve been waiting for, for what seems like a thousand years, job, then perhaps its time to think long and hard about doing and spin it into wealth and good fortune. So rather than kick something else. yourself in the shin for letting life pass you by, why not take another shot at that ‘elusive’ dream? But before you take the leap, put things into perspective. Do you need to change your job or some things about your job? Perhaps And so the real question is, can your dreams and aspirations some attitude adjustment on your end could put some zest into really be viable after you’ve lived pretty much half your life your job. Are you giving it your best? Are you looking for ways without a glimmer of hope that they could happen? The answer to improve your performance and enhance your chances for is yes! promotion or increased responsibilities and recognition? Get out of your box and carefully examine what you really need in order Perhaps you’ve played a good hand at life – kept a ‘steady’ job, to increase your job satisfaction. Job satisfaction is not always paid your bills, met your social and familial obligations and stayed about what your boss can do for you but oftentimes about what out of trouble. But yet there’s that niggling sense that you’ve not you can do for yourself. done your very best, you haven’t explored your fullest potential or even come close to that mark. And ever so often you keep And don’t be like Alice in Wonderland – get a sense of where you wishing and hoping that somehow that thing that you want so want to go! badly, that dream, or idea that tugs at your imagination, would in some magical way fall into your lap. The reality is that it’s Get Out not likely to happen if you keep wishing and wishing ….. and wishing. If you want to make your dream a reality, you simply If your search is for something different like pursuing that have to get up, get out and get going! business idea, then preparation and planning are critical if you really want to maximise your investment of time and money. Get going at what? If you want to start that new venture, then make that very important step – stop procrastinating! Seek out some advice on Perhaps you want to pursue that business venture that has been the investment required to get your business going. Institutions sitting in your mind for so many years. How about that career like Fund Access and Enterprise Growth Fund Ltd. provide change you’ve always wanted but never had the nerve to pursue? funding for new ventures. The Entrepreneurial Development You probably can’t picture yourself letting go of that sure thing Division of the BIDC can provide the essential business advisory that you have, whether it’s a job or enterprise that doesn’t quite services you need. You may also wish to do some test marketing stimulate your interest but nevertheless keeps you employed. and informal surveys to find out how people would respond
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BIDC Business Catalyst 7 #4.indd 21 12/16/11 4:56:37 PM Aspiration
to your product or service offering. Is it something they would “If you want a thing bad enough to go out and fight for it, to work buy or use? Does your product or service address a particular day and night for it, to give up your time, your peace and your need or problem? Always remember you’re making a long-term sleep for it… investment, so careful planning and execution are necessary. if all that you dream and scheme is about it, and life seems When you firm up your plans, make sure your prospective useless and worthless without it… business is also sustainable - remember you’re building an if you gladly sweat for it and fret for it and plan for it and lose all investment for life. your terror of the opposition for it… if you simply go after that thing that you want with all of your Get going capacity, strength and sagacity, faith, hope and confidence and stern pertinacity One of the most difficult things to do when you figure out what if neither cold, poverty, famine, nor gout sickness nor pain, of you want to do is actually taking the leap and doing it. Quite body and brain, often ‘doing it’ may require letting go of that security you’ve had can keep you away from the thing that you want… for thousands of years. It may mean quitting your job – imagine if dogged and grim you beseech and beset it, with the help of that! It may mean going out on a limb, taking a loan or finding a God, you will get it!” partner to invest hard-earned cash. And it may mean you can’t turn back to what you’ve left behind. But the old adage - nothing ventured, nothing gained - is also true. This needs to be riveted “Would you tell me, please, which in your mind. way I ought to go from here?” If you want to dig yourself out from under years of mediocre “That depends a good deal on where performance and lacklustre returns, then you just have to take a chance on that venture that can give you the bump you need. you want to get to,” said the Cat. The old saying of ‘a bird in the hand is worth two in the bush’ really makes no sense if the thing you’re holding onto so tightly is “I don’t much care where--” said not taking you where you want to go! Alice. This may be the time to pull out that parachute and take a leap “Then it doesn’t matter which way of faith. Whatever you decide, make your life happen, make it exciting, make it come alive! If you need further motivation, you go,” said the Cat. consider the following words of inspiration by Les Brown: (Alice in Wonderland)
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BIDC Business Catalyst 7 #4.indd 22 12/16/11 4:56:39 PM Executive Coaching
CARVING OUT A NICHE By Cheryl Gittens
iche? In this economic climate? Even when the economy is sailing on favourable seas, many service entrepreneurs find it difficult to niche their Nmarkets. But what is a marketing niche anyway? It is targeting your business to a specific group of people with a specific need or set of needs who might be underserved by the market, and most of all are willing and able to pay for your services. After all, you are running a business.
In economic downturns, many entrepreneurs find it difficult to Can they pay you? This is the clincher. maintain a marketing presence due to a fall in sales. They often If they can’t pay they are not your target. You need to find those cut out marketing budgets, completely forgetting that there is a who are willing and able to pay. This may mean elevating your lot you can do with less. clientele. You may move to higher-paying clients. Your job is to decide if you are ready for the shift. You can find less labour- One solution is to become laser-focussed on a niche. This way intensive ways to serve clients who can’t afford higher fees. you don’t waste money trying to get everybody who you think wants your services. The truth is, people will come to you with the niche problem but they will inevitably ask you; do you also do …X? But if they To begin your research, you need to answer three questions. can’t pick you out of a crowd, you won’t even get to answer that Who do I want to serve? What problems do they have that I (or question. only I ) can solve? Where can I find them? This helps you target your spend.
Most of the resistance to niche marketing stems from the belief bugeting or time 62%
that you are leaving money on the table having just excluded Lack of ability to stop executing & 33% 80% of the market. But think about it, don’t specialists get paid think strategically
more than generalists? Don’t they, in many instances, work Limited ability to develop content 35% fewer hours? The key message here is that the specialist does 32% not waste time, energy and money attracting people who do not audience need their services. You are not going to go to an orthopaedic Lack of alignment between Sales & 32% surgeon for orthodontic surgery. With a limited budget, you Marketing can’t afford to be throwing precious seeds on stony ground. Lack of reliable data to drive decisions 31%
Now that you get the point, there is more work to do. You The economic climate 30%
need to research your niche. Chances are you have worked Lack of clarity on goals and objectives 27% with them already; you just did not identify them as a special Not enough education of Marketing income-generating group. 26%
Lack of clear value proposition What are their most pressing problems? 25%
Most people only seek services when they are in pain or about to Lack of insight in competitive research 25% lose something. Fewer are proactive. So you need to find those who are ready to do business with you or educate your niche on Lack of support from IT 19% the urgency of their problems. from C-suite for new strategies 17%
® Do you have or can you get the expertise? marketingsherpa Source: @2011MarketingSherpa B2B Marketing Benchmark Survey You must be able to solve the pain that your target has. You Methodology: Fielded June 2011, No.1,745 must love doing so if you are to truly serve them. Find out what is unique to your skills and personality that is inimitable. Contact Cheryl at [email protected]
Barbados Business Catalyst • July - September 2011 23
BIDC Business Catalyst 7 #4.indd 23 12/16/11 4:56:40 PM Aiming for Global Standards
FOOD FOR THOUGHT Company offering to help SMEs raise standards/systems Submitted By Nadine Benn
arbadian micro, small and medium enterprises /entrepreneurs (SMEs) are being encouraged to become more proactive than reactive when it comes to food safety and quality. With the current modernization Bof the Barbados National Standards Institute (BNSI) and advent of the National Agriculture and Food Control Policy, SMEs particularly in the agro production and food processing sector will have to soon align themselves with global standards. This certainly does not exempt the other stakeholders involved in food preparation such as the caterers, hoteliers, restaurant and canteen owners, vendors and other meal/food service providers.
The only constant in life is change and this is clearly happening at Therefore, standards such as the Codex Alimentarius Standard the BNSI. It is currently undergoing a standards modernization for Food Hygiene will be enforced and SMEs will have to process. What does this mean? BNSI will seek to prioritize its conform. standards and maintain, revise, replace, withdraw or adopt any standard it deems necessary. Most of the standards will be The National Agriculture and Food Control Policy, which is to be replaced with the already existing international standards, instead implemented very shortly, will certainly be encompassing the use of having different standards to that of ISO/Codex. of some aspects of the ISO 22000:2005 Food Safety Management System which covers the safety of food from farm to fork. Once there is an international/global standard for a particular product/good or food or process for which BNSI does not have In this regard, elements of the control of chemical, physical and one, it will adopt its own, instead of reinventing the wheel. microbiological contamination of food, risk analyses, traceability
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BIDC Business Catalyst 7 #4.indd 24 12/16/11 4:56:42 PM Aiming for Global Standards
and product withdrawals, will be of utmost importance. Having improves the company’s image/brand as customer trust and such systems in place will be expected by SMEs as these aim loyalty are enhanced. to build consumer confidence and assurance in the foods they consume. Some may ask, with so many benefits and opportunities, why don’t more SMEs have these systems in place? Well, the first The implementation of such systems is not impossible or overly thing one would hear is COST/MONEY, but I believe this is not costly for SMEs and can be achieved by using experienced the sole root cause. From my experience, one major barrier is technicians in this field who have food safety and quality at heart that of perception. SMEs perceive that the implementation of for SMEs. such a system is costly, but this is only the case if you want to be ISO certified. The basic food safety and quality system serves as a So you may be asking yourself, are there such personnel? Where starting point for SMEs, which can then become certified later if can I find such persons? Well, my answer to you is yes, FSQ they wish. Solutions Inc, and they are among you, right here in Barbados. Besides increasing consumer confidence and assurance in Another major barrier is TIME, as SMEs are more focused on the foods produced and consumed, aligning to international production rather than quality or food contamination prevention standards: during processing. Some of the other barriers have been a lack of adequate knowledge, technical expertise and finding ensures all stakeholders in the food business have in place and the help needed at an affordable cost. This is where the food are maintaining some form of food safety and quality system, technologists at FSQ Solutions Inc. come in. whether it is Good Manufacturing Practices (GMP), Good Agricultural Practices (GAP), Good Hygienic Practices (GHP), We are aiming at helping SMEs and all stakeholders in the food Hazard Analysis Critical Control Points (HACCP) or Food service and processing sector understand and apply any of the Safety Management (ISO 22000:2005); basic/ ISO food safety systems mentioned to their respective businesses at a very affordable price. We give each client the reduces the very high incidence of food-borne illnesses/ full technical support needed during and even after the entire poisoning that occurs annually; process, along with tools for better understanding. FSQ Solutions Inc. has been in business for several years and has gives SMEs a level playing field with their competitors as they worked with several SMEs in this regard. meet international standards from the onset rather than trying to comply with many separate standards; We also provide integral support services, training and auditing in the following:- quality management (ISO 9001:2008) for the facilitates trade by giving SMEs a better opportunity to export service sector; quality assurance & control; new plant/ product to and access other markets without having to go through development and continuous improvement of products/services. major changes in their processes/product/packaging; Nadine Benn is a food safety and quality management system auditor. She may be contacted at [email protected]
Barbados Business Catalyst • July - September 2011 25
BIDC Business Catalyst 7 #4.indd 25 12/16/11 4:56:43 PM Human Resource Deveolpment
SKILL-FULL OR EMPTY?
By Pedro Hutchinson, Research Officer, BIDC
t a time when the global economy is poised to emerge out With the general reluctance by manufacturers to purchase new of its latest recessionary period, are Barbadian companies machinery and equipment or to construct new technologically- Apositioned to take advantage of improving economic sophisticated plants, the local industry is forced to continue on conditions? Are they equipped with the necessary innovative the current path of “working harder, not smarter”. ideas, finance, machinery, equipment and plant? Are they staffed with workers possessing the relevant skills? The Manpower Research Unit (MRU) of the Ministry of Labour is poised to conduct another Occupational and Training Needs According to the results of a survey conducted by the Barbados Assessment Exercise. The MRU intends to conduct focus Investment and Development Corporation (BIDC) in December groups with key stakeholders comprising umbrella associations, 2010, Barbadian manufacturing companies are heavily deficient employers and Government with a view to assessing the in the skill-sets needed to operate at maximum efficiency. Of occupational needs, training needs, qualification and skill- greater concern is that entrepreneurs generally are not confident sets needed within a number of economic sectors including of the ability of academic and training institutions to address the Manufacturing. Commencing in November 2011 with initial problem and eliminate the gaps in the short term. contact sessions, this exercise will engage focus groups in December 2011 and January 2012. These findings agree with those of the Ministry of Labour which has identified a list of occupations in demand and a host Head of the MRU, Mark Franklin is confident that the results of required skill-sets for the Manufacturing sector. The 2009 of these focus groups will inform the direction that training and iteration of the Occupational and Training Needs Assessment educational institutions must follow. Mr. Franklin expects that, Exercise revealed that the occupations being demanded with the input of agencies such as the BIDC and the Barbados include machine operators, wood workers, joiners, carpenters, Manufacturers’ Association (BMA), supported by input from electrical technicians, mechanical technicians, process engineers, selected employers, a clear insight can be gained into the skills mechanical engineers, marketers, graphic artists, chemical needed within Manufacturing, thereby allowing for dialogue with engineers, chemists, biologists, accountants, food technologists, the Samuel Jackman Prescod Polytechnic (SJPP), the Barbados herbalists, sewing machinists, pattern makers, screen printers, Community College (BCC), the Barbados Vocational Training electrical engineers, industrial designers, conservators and Board (BVTB) and the Technical and Vocational Education and herbalists. Training (TVET) Council to craft training programmes targeted to address the gaps. This assessment exercise also listed the required skill-sets as machinery skills, carpentry skills, joinery skills, plant safety In this age of globalisation, Barbadian businesses must accept that hydraulics, quality assurance and standards, computers and future economic growth and competitiveness in this small open automation principles, robotics, draughtsmanship skills, computer economy is predicated on the availability of a motivated, highly aided design skills, food handling. In addition, soft skills such skilled, innovative and critical thinking workforce. An investment as literacy, numeracy, positive work ethic were identified as in this much needed resource must take place now. deficient. Collaboration and cooperation with the training and education What are the implications of these skills deficiencies? institutions will ensure that the skills bank will not be depleted, forcing the importation of essential skills, but that there is an Respondents to the BIDC survey highlighted declining abundance of these skills locally, even facilitating the deployment productivity and adverse impacts on their bottom lines. This has of skilled technicians overseas and the earning of much needed created much apprehension among producers who are unwilling foreign exchange. at this time to expand investment in their businesses.
26 Barbados Business Catalyst • July - September 2011
BIDC Business Catalyst 7 #4.indd 26 12/16/11 4:56:44 PM Competitiveness The Barbados Competitiveness Programme A Catalyst for Improving the Island’s Domestic Sectors
onfronted by the effects of the worst economic recession in over a century, government is taking steps to ensure On the subject of inculcating a culture of competitiveness, the Cthat the future development of the island’s domestic Coordinator summed it up this way: “To quote one writer, the sectors is on a sure footing. road to competitiveness is like a marathon and not a sprint... therefore, we will not see the benefits immediately after the This will be achieved over the next four years with the four years. Most of these benefits will materialise when people implementation of the Government of Barbados/Inter-American change their way of doing things and make adjustments in their Development Bank (IDB) funded Barbados Competitiveness attitudes and this is something that will take time. Programme. The overall cost of the programme is US $11.8 million and, of this figure, the IDB will provide US $10 million; “We can spend US $11.8 million on the latest equipment and while government will foot the remaining US $1.8 million. technology, but if workers do not see the need for themselves to The loan agreement was initialled by late Prime Minister David be more productive, then we really would have embarked on a Thompson on March 21 last year. The programme was officially futile exercise,” Mr. Bascombe underlined. launched during a ceremony at the Lloyd Erskine Sandiford Centre, “In the case of Barbados, the programme He expressed the hope that the earlier this year. would, among other things, improve the talks to be held with the various export potential of the economy and enable constituents of the BCP, would Coordinator of the Barbados inculcate the need for citizens Competitiveness Programme the domestic sectors to attract more to embrace the ideal of being (BCP), Terry Bascombe, described private investors,” more competitive in all spheres it as “a necessary fillip to improve of activity. the competitiveness of the island’s economy” in light of the challenges being experienced as a result of the ongoing economic Mr. Bascombe noted that the current programme might not crunch. capture all those areas which the public may conceive as necessary to improving competitiveness within four years. “Most countries have taken this opportunity to strengthen their He added: “We have been getting feedback that the current economies to ensure that their domestic sectors are more programme may not necessarily achieve competiveness as resilient if faced with situations like these in the future. In the defined by some persons and we too are of the view that a four case of Barbados, the programme would, among other things, year programme, designed in the way that the BCP is, may not improve the export potential of the economy and enable the necessarily improve all aspects of competitiveness. domestic sectors to attract more private investors,” he added. “We are of the view, however, that this programme provides a Apart from these goals, Mr. Bascombe alluded to the four- good starting point for improving competitiveness; while alerting pronged strategy that would be adopted to realise these targets. the general population about the importance of improving “The first component would seek to ensure a coherent business competitiveness in Barbados. Once we have successfully development framework that deals with matters relating to fiscal implemented this first project, then there may be a need to incentives and regulation; the second component’s emphasis consider a second exercise, to fill the gaps that were observed would be on creating a more coherent architecture of public during the implementation of this first project. In other words, sector services to facilitate business development; while the third there can be a Barbados Competitiveness Programme part two,” component would address issues regarding the logistics of trade Mr. Bascombe pointed out. facilitation and improving access to infrastructure through public/ private partnerships. The fourth component on the other hand, The initiative is just one of a number of measures introduced would seek to improve public/private dialogue on improving the by government that will boost economic development over the competitiveness of the economy,” Mr. Bascombe surmised. long-term. (BGIS)
The Project Coordinator expressed the hope that a Medium- Term Competitiveness Strategy would be developed based on the ideas thrown out by the technocrats during discussions to be held on component four. Barbados Business Catalyst • July - September 2011 27
BIDC Business Catalyst 7 #4.indd 27 12/16/11 4:56:45 PM SME Efficiency
Government Launches Factoring Programme For SMEs
icro and small businesses which provide services Denis Kellman, Minister of Industry & Small Business and/or goods to Government will now have the Mopportunity to receive payment in a timely fashion. “The Trade Receivables Liquidity Programme is one in a series Rural Development, in conjunction with the Central Bank of of targeted initiatives intended for this purpose, which will be Barbados, launched its Trade Receivables Liquidity Facility, also undertaken by this Ministry to assist in the general improvement known as the Factoring Programme. of the Barbados SME Sector. As this Programme is rolled out in the upcoming days with the invitation for individuals, micro The Programme allows small and micro businesses (SMEs) to and small enterprises, to register with this Ministry, I can assure be paid (a minimum of $10,000.00 and maximum $200,000.00 you without doubt, that the previous untenable scenario of per quarter), for goods and or services which they provided inordinately long waits for payment of goods and services to Government Ministries or departments, in a short period of provided to government, will most definitely be a thing of the time, at a discountable rate. past,” he asserted.
“As this Programme is rolled out in the upcoming days with The Minister pointed out that the Factoring process should take no longer than seven days, and the invitation for individuals, micro and small enterprises, highlighted the financial institutions which are enlisted to register with this Ministry, I can assure you without under the Programme. These are: the main branches doubt, that the previous untenable scenario of inordinately of any commercial bank; the Enterprise Growth Fund long waits for payment of goods and services provided to Limited; Fund Access; Consolidated Finance; Globe Finance; Citicorp Merchant Bank; and Caribbean government, will most definitely be a thing of the past,” Financial Services Corporation.
The Minister reaffirmed the importance of the initiative and gave Speaking during the official launch, which took place at the the assurance that his Ministry would “leave no stone un-turned Grande Salle, Tom Adams Financial Centre, Minister of Industry in galvanising the support of the stakeholders, particularly those and Small Business Denis Kellman, affirmed that the within Government, whose responsibility is to ensure that this “... programme has the potential to positively impact the Programme is both sustainable and a continuing success.” micro and small enterprise sectors in terms of the significant financial benefit that can accrue to those individuals.” He further added that “as we seek to find creative ways to reposition the micro and small business sector to leverage both He underscored the SME sectors as major contributors to the its size and resource base to promote greater economic growth, growth of today’s economy, and reconfirmed Government’s there is an urgent need to ensure the avoidance of a dearth in commitment to repositioning those sectors “so as to viable idea generation.” ensure [their] maximum contribution to national economic development.
28 Barbados Business Catalyst • July - September 2011
BIDC Business Catalyst 7 #4.indd 28 12/16/11 4:56:48 PM News to Note
Export Management Training
n August 23 and 24, the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, held a FINPYME ExportPlus workshop on export management. The workshop, organized in partnership Owith the Barbados Investment and Development Corporation (BIDC), the Barbados Manufacturers’ Association (BMA), and Scotiabank, provided information and training to small and medium-sized enterprises on best practices, techniques, methods, and guidelines on how to better manage projects. Participants also received technical assistance on trade certification.
Efforts Under Way To Enhance Manufacturing Sector
overnment, through the Ministry of Industry, Small Business and Rural Development, is intent on enhancing He further stated that the Barbados Investment and Gthe manufacturing sector. Development Corporation (BIDC) “will continue to offer technical assistance, which will allow the various enterprises to This assertion came from Minister Denis Kellman, during his re-tool as they seek to improve the quality of their product and remarks at the launch of Caribbean LED Lighting Inc., at the their production efficiency”. Hilton Barbados. The Industry Minister gave the assurance that Government Minister Kellman said that there had been some communication would continue to give the necessary assistance to “raise the between officials from his Ministry and the Barbados standards of the manufacturing sector”, as long as it does not Manufacturers’ Association, and stated that as a result “we will conflict with the World Trade Organization’s rules. seek through policy formulation, an enabling framework and advocacy to create an environment that is conducive to the sector’s expansion and sustainability”.
IIC promoting transparent business environment for small and medium-sized companies
n September 6, 2011, the Inter-American Investment input from local companies and business ethics professionals, and Corporation (IIC), a member of the Inter-American ultimately make it available as a public good to scale up its reach ODevelopment Bank (IDB) Group, launched the throughout Latin America and the Caribbean. FINPYME Integrity Program in Barbados. To implement the program, the IIC is collaborating with local Companies attending learned how implementing ethical business organizations that serve the unique needs of local businesses in practices contributes to a company’s economic, environmental, each country. The IIC’s strategic partners for the program are and social impact. This initiative is possible thanks to the support The Cave Hill School of Business, The Barbados Manufacturers’ from a key IIC member country, the Republic of Korea, through Association, The Barbados Small Business Association, and The the Korea-IIC SME Development Trust Fund. Barbados Coalition of Services Industries.
During 2010, the IIC partnered with organizations such as the Through FINPYME Integrity, the IIC and its partner organizations International Trade Administration (ITA) of the U.S. Department will share best practices in business ethics for SMEs across of Commerce to create a “train the trainers” tool kit to help the Caribbean region through a series of group and individual bring business ethics principles such as integrity and transparency technical assistance activities. Experts will work with SMEs to to the level of local small and medium-sized enterprises (SMEs) create a strategic vision regarding ethics and integrity, develop a in a more effective way. After the FINPYME Integrity launching business and a code of conduct, and adopt international standards in the Caribbean, the IIC intends to perfect the toolkit by seeking for fighting corruption.
Barbados Business Catalyst • July - September 2011 29
BIDC Business Catalyst 7 #4.indd 29 12/16/11 4:56:48 PM Our Environment
SMART ENERGY FUND SIGNED
overnment is committed to reducing the island’s dependence on fossil fuels by 70 per cent over the next 15 years and this will be made possible with the implementation of the Smart Energy Fund. G Minister in the Prime Minister’s Office with responsibility for Meanwhile, Chairman of EGFL, Terrence Thornhill, expressed Energy, Senator Darcy Boyce, made this disclosure, during the delight that the company was selected as the executing agency signing ceremony for the US $10 million Smart Energy Fund for this initiative. between the Division of Energy and the Enterprise Growth Fund Limited (EGFL) at Government headquarters. “We have, over the past couple of years, ably demonstrated our capacity to disburse in a timely manner, funds apportioned to us He said the fund was broken down into components with the by Government. The Smart Energy Fund is one that has certain largest being US $6 million, for loans disbursal through EGFL, to technical challenges associated with it. assist small businesses and homeowners with energy efficiency projects. However, we have managed funds that have had other challenges and we have managed them well. So, we are looking forward to Senator Boyce added: “The Smart Energy Fund is the first step. the challenge of executing this particular fund. It is a pilot fund which we hope to use to test the concept and once we are happy that it will work well, we will want to expand Acting Permanent Secretary in the Division of Energy, that fund into a much larger commercial size fund for businesses Cora Richards, praised the partnership between EGFL and and householders.” Government; while the company’s Chief Executive Officer, Timothy Simmons, spoke of the ground-work already done to Regarding the energy consumption habits of householders, he facilitate the fund’s components. intimated that government was aiming to get 3 000 households per year utilising renewable energy sources. “We did a lot of work over the past eight months in preparing an operating guide to set the framework for the implementation He also urged the commercial sector to see the benefits of of the fund. Of the five components, three are ready for utilising alternative energy to power their respective businesses. implementation. For instance, the technical assistance component for energy audit is ready “To be able to “The Smart Energy Fund is the first step. It is a pilot to be rolled out, the hire purchase sustain that, we pilot scheme for consumers to have already fund which we hope to use to test the concept and purchase energy efficient appliances begun the search once we are happy that it will work well, we will want and the loan component for the for funding, to to expand that fund into a much larger commercial small and medium-sized enterprises ensure we can put size fund for businesses and householders.” sector is also ready,” Mr. Simmons that in place as surmised. soon as we have proven this concept with the Smart Energy Pilot Fund... and as Regarding the compact fluorescent and air condition unit soon as the Barbados Light and Power [Co. Ltd] has proven the schemes, the CEO said these will be on hold until a policy scheme which they have with the Fair Trading Commission for was devised to oversee the disposal of the harmful effects renewable energy,” Senator Boyce emphasised. of fluorescents and the ozone depleting gasses contained in defective air condition units. He said the Smart Fund’s components also facilitated the replacement of old air conditioning units, incandescent bulbs and Mr. Simmons said that policy was being worked on by officials other types of lighting to promote energy efficiency habits among within the Division of Energy and would be rolled out shortly. consumers. (BGIS)
30 Barbados Business Catalyst • July - September 2011
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When in….Belize The Cultural Etiquette Critical for Success
odern business is global and demands people travel to foreign countries and mix with foreign clients, colleagues or customers. Each one of those cultures will also have their own etiquette Mrules, many of them unwritten. When two or more different cultures mix, it is easy for small etiquette mistakes to be made that could have negative consequences. Not understanding the etiquette of another culture can and does lead to soured relationships, lost deals and in the end poor business results. The Barbados Business Catalyst explains the etiquette behind business dealings with Belize.
Greetings not to touch one another. Strong displays of affection are rare Belizeans are very friendly and gentle. Greet them with a warm and are considered rude by some people. “hello” or “good morning” and treat them with respect and your attitude will be reciprocated. In a more formal setting, avoid the There is no specific ritual surrounding the giving and receiving of firm handshakes you may get back home; a very gentle shake will business cards. do. Men typically have a simple oral exchange which would be accompanied by a handshake in a formal or semi-formal setting. Titles Belizeans formally address each other in business and often use If the men have had prior dealings or know each other well, they Mr., Mrs., or Miss (or Dr. when the individual has earned that might also pat a shoulder or initiate some similar physical contact designation). Sometimes, the person will use the Mr. etc. with in greeting each other. the first name rather than the last name.
Women similarly tend to have an oral exchange or shake hands if First names are used among persons who are in the same relative the meeting takes place in a formal or semi-formal setting. If the business position. It is best to wait to be invited to address women have had prior dealings or know each other well, then someone by their first name. the greeting might also involve hugs and perhaps a brief touching/ cheek to cheek or a light kiss on the cheek. Dress For both men and women, short sleeved shirts, shorts and In meetings between men and women greetings would be the sandals are acceptable. Even the prime minister wears slacks and same as between men greeting men and women greeting women a light shirt. People are generally more covered up, more for in formal or semi-formal settings. functional reasons than fashion.
Once individuals develop greater familiarity or a working Longer clothing and covered shoes are commonly worn as relationship, greetings might expand to a light hug, a brief protection against insects, and for the occasional chilly night. touching of cheeks or even a light kiss on the cheek. Belizeans dress most formally for church. Suits are common, though the majority of men wear black slacks and dress shirts, Where personal space is concerned, Belizeans are neither shy and women wear nice shirts and pants or long skirts. nor affectionate. In social settings, apart from greetings, they tend
Barbados Business Catalyst • July - September 2011 31
BIDC Business Catalyst 7 #4.indd 31 12/16/11 4:56:48 PM Cultural Etiquette
Dining Belizeans typically eat three meals a day, breakfast in the morning, lunch around noon, and dinner in the evening. Lunch is the largest and most important meal of the day. Businesses are usually closed for an hour or two for lunch and people often head home to eat with their families. Dining is usually very casual and dressing up, though perfectly acceptable, is very rarely expected.
Appointments Punctuality isn’t expected. Starting a business meeting on time is rare. The starting time for meetings is often set with the expectation that few people will arrive on time.
If the agenda says 8:00 a.m., it would not be unusual for the meeting to actually start at 8:30 or 9:00 a.m. and attendees might still be coming in after the meeting has been called to order. This attitude toward punctuality prevails whether in business or social settings. Similarly, strict schedules are not followed by buses, the primary form of transportation.
In many instances, bus schedules are not formally posted, and even when posted, are not necessarily followed. If you have a deadline or appointment, others may arrive late, but it’s courteous to show up on time and meet deadlines as often as In business, dress is semi-casual. Long khaki pants and collared possible. or knit shirts are the norm for men and long pants or skirts for women. Sandals, but not flip-flops, are perfectly acceptable. Negotiating Decisions tend to be reached from the top down and can take Conversation a while. Be prepared to have several meetings to reach a final Belizeans tend not to be direct or get to the point quickly. They decision. Arriving on time for meetings is important even though also dislike confrontation. Typically, any dialogue or meeting will you may be kept waiting. Beginning with small talk helps establish begin first with an exchange of small talk, which would begin by a base for the relationship, after which discussion of business saying “good morning” or “good afternoon” or the like and might matters can begin. It is best to allow your host to begin the cover some neutral subjects such as weather or a vague inquiry business discussion. about each other’s general well-being. Gifts When addressing issues, the propensity is to use a rather formal Gifts are generally not expected in business situations. If invited framework that may entail first defining historical background, to a Belizean’s house, it is appropriate to bring wine, spirits, or relevant documents, and the like, or even outline how the issue some type of dessert. will be approached before zeroing in on the topic at hand.
Generally, Belizeans will say what they mean in a tactful way but will avoid or be rather circumspect about communicating any negatives, consistent with their propensity to avoid confrontation.
There are a few things that should be left out of casual conversation. Belizeans don’t appreciate it when tourists and expatriates start telling them what’s wrong with Belize and how to fix it. Politics, race and religion are taken very seriously and are often taboo subjects.
Appropriate small talk topics include: family, sports, Belizean and places of interest. Keep in mind, too, that Belize is a small country and word travels fast. Be careful if you talk about someone negatively, as the person you’re talking to might know them.
32 Barbados Business Catalyst • JulyApril - -September June 2011 2011
BIDC Business Catalyst 7 #4.indd 32 12/16/11 4:56:49 PM Trading Developments Barbados/Guatemala discuss trade relations
The future of Barbados/Guatemala relations was The possibilities of exports and imports, as well as training discussed when Minister of Commerce and Trade, opportunities, were highlighted as areas of interest SSenator Haynesley Benn met with Guatemala’s which should be investigated. The Commerce Minister Ambassador to Barbados, Guisela Godinez Sazo. said: “We look forward to developing our linkages... may it be in agriculture, manufacturing, services... [We Minister Benn stated that he hoped to establish greater are] always looking for new areas of opportunity.” trade linkages with the Central American country, while the Ambassador agreed that a commercial Barbados and Guatemala established relationship could prove beneficial for both nations. diplomatic ties on January 27, 1992. Barbados and Czech Republic sign DTA arbados has entered into a Double Taxation part of the Caribbean and Latin America because you Agreement (DTA) with the Czech Republic. are really our biggest trade partner,” she said. BAttorney-General and Acting Minister of International Business and International Transport, Adriel Brathwaite, The Czech Ambassador highlighted some of the benefits signed the official documents at the Government’s Barbados would see including Czech investors coming Warrens Office Complex. In his remarks, he said the to the island to do business. With respect to tourism, agreement “symbolises the efforts of [the] Government she noted: “The Czechs are enthusiastic travellers, so to strategically enhance investment flows between both they are discovering the Caribbean and Barbados and countries and deepen our bilateral relationship.” I think this is very important for our relations.”
The Minister reported that the DTA, as envisioned by Between 2001 and 2005, Barbados’ major domestic Government, would boost trading opportunities and eventually exports to the Czech Republic consisted of: contact increase economic prosperity for the citizens of both lenses; spectacles and goggles; rum; articles for packaging countries. He noted it would also facilitate “tax cooperation and lenses for glasses. Principle imports from the Czech and cross border trade in goods and services, while ensuring Republic included: motor cars; tyres for buses and lorries; that the treaty partners are able to recognise the monetary herring-bone tyres for tractors; tyres for motor cars’ good benefits of private sector driven commercial activity.” vehicles; and other accessories for motor vehicles.
Ambassador of the Czech Republic to Barbados, Edita Hrda, Moreover, Ms. Hrda declared: “The only one thing described the agreement as a catalyst for the development we have now to hope is that our businessmen and of bilateral relations between the two countries. “Barbados, your businessmen will take it seriously and they will for us [the Czech Republic] is a strategic partner in this see the open door to both of our countries.” Australian Honorary Counsel Established in Barbados
ustralia has been added to the list of countries The Honorary Consul for Australia, who has been residing represented by an Honorary Consul in Barbados. in Barbados for the past 16 years, said he looked forward A to serving as his country’s representative in Barbados. In an official ceremony on Tuesday, August 16, Barbados’ Chief of Protocol, Hughland Allman, presented an exequatur The Australian Consulate will be located on the 2nd Floor, to Stuart James Gardiner at the Ministry of Foreign Affairs, Cedar Court, Wildey Business Park, Wildey, St. Michael and Culloden Road, St. Michael.The legal document will permit Mr. may be contacted at telephone number 246-434-1133. Gardiner to commence his duties as Honorary Consul, thus Barbados and Australia established diplomatic ties in January 1974. strengthening the existing ties between Australia and Barbados.
Barbados Business Catalyst • July - September 2011 33
BIDC Business Catalyst 7 #4.indd 33 12/16/11 4:56:49 PM Industry By Numbers
DOMESTIC EXPORTS JANUARY - JUNE 2010 / 2011
6,529,325 30,602,943 6,827,978 4.57% 32,483,958 6.15%
8,471,562 19,105,585 8,575,196 1.22% 20,414,372 6.85%
9,208,921 2,055,837 12,699,055 37.90% 3,189,912 55.16%
7,042,437 153,611 8,179,651 16.15% 239,062 55.63%
17,872,735 3,099,149 11,744,957 -34.29% 2,559,609 -17.41%
148,695 366,632 146.57% 8,379,107 10,139,336 21.01%
3,387,804 3,839,135 13.32% 563,928 841,783 49.27%
4,985,125 4,699,739 -5.72% 33,641,630 51,061,647 51.78%
1,549,701 1,819,814 17.43% 2,641,325 3,238,071 22.59%
9,445,051 10,306,440 9.12%
168,884,471 225,494,109 14.41% 193,226,347 13.68% 256,345,241
34 Barbados Business Catalyst • July - September 2011
BIDC Business Catalyst 7 #4.indd 34 12/16/11 4:56:49 PM Industry By Numbers
EMPLOYMENT IN MANUFACTURING SECTOR AT JUNE 2010/2011 JUNE 2010JUNE 2011 NET CHANGE % CHANGE -1.93% -68 * -16.51% 8,259 114 * -175 * 8,386 3,531 3,463 -1.09% 13.36% -8 * -2.63% -15 * 967 23 * 885 -5 * 1,060 732 853 724 -1.28% -2.63% -5.88% 570 -14 * 555 - 4.35% -9 * 27 * 5 * 15.98% 3.33% 384 392 387 361 -1.63% 2 * * 238 224 207 198 196 155 150 169 -1.51% -127 123 121
DISTRIBUTION OF INVESTMENT IN MANUFACTURING SECTOR AT JUNE 2010/2011(BDS$) -20.22% 100.0% 5,342,156 100.0% 4,262,070 -82.1% -33.0% 3,133,493 100.0% -62.0% 1,696,865 -92.1% 795,869 26,347 507,811 640,893 -51.5% 560,125 153,320 -65.1% -95.5% 1,064,260 32,400 332,639 259,951 275,500 62,977 14,910 13,500 13,640 7,229 -100.0% 4,050 -100.0% 5,923 2,067 1,457 0 0
TOTAL
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