St. Lucia Business Focus 59 by AMS St. Lucia

Issue No. 59

Sept/Oct 2011

The Business of

Events

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No. 59

Sept/Oct 2011

Contents

FEATURE The Business Of Events 64. Adrian Augier on events planning 72. Event planning is in demand 76. St. Lucia’s events calendar 80. SLASPA’s corporate events 82. 10 steps to planning your event

REGULARS

Editor’s Focus

In the Know (cont)

04.The Pleasure is Yours!

06. Business Briefs Business Tech

10. Avaya partners with LIME 11. Benefits of a computerized POS 12. Revolutionary marketing – QR codes 14. Google expands spoken search

Money Matters

16. ECCB annual report review 18. US increases funding 20. The secret life of Treasury Bills 22. The resilience & innovation of Caribbean financial institutions

Environmental Focus

24. Steaming up Energy at Ferrands 26. Google invests over US$780m 28. St. Lucia gets multi-million dollar aid 30. RSt. Lucia & Grenada benefit from World Bank Credit 30. Sustainable Inn on Labrelotte Bay 31. Seaweed threatens fishermen

In the Know

32. Caribbean Brewers fight anti-alcohol lobby 34. Get creative to survive 36. Family governance in business 38. Age matters 39. Setting the right tone

40. Mistakes Marketers Make 42. Is the customer always right? 43. LIME to partner with security companies 44. Petroleum dealers & fishermen blow gaskets 45. OECS nationals closer to free movement

Profile Focus

46. New leadership at IMF 48. Many paths to a Career 50. How TCL plans to turn itself around

Business Spotlight

54 Chamber outlines priorities 56. Chamber provides population statistics 80. Surviving a Recession

Bizz Buzz

84. Copyright law in digital makeover 84. OECS closes High Commission in Ottawa 85. Van Geest Foundation donates to Rotary 85. Redjet seeks OECS routes 88. Sagicor & LIME reward teachers 88. Hess & IMC donate US$1m

Health & Wellness

90. Talking about cancer

92. Events 2011 94. Major Moves 96. New Company Registration

EDITOR’S FOCUS

The Business of Events

BUSINESSFOCUS

Our feature focus in this issue is the business of events, which has evolved today into a new and viable commercial service producing professional and talented expertise for planning and execution of all types and sizes of events. With the launch of the St Lucia Jazz Festival 20 years ago, the island has become world renowned for hosting what is branded today as “The Best Party in the Caribbean.” Initially, most of the support services for making this major event a reality were delivered by international service providers. Twenty years later, St Lucia has grown to become one of the most sought-after destinations for the hosting of major regional and international events. St. Lucia is being chosen for hosting more and more regional and international events based on our support infrastructure and the competent and experienced pool of professional Event Management personnel catering to every sector required for the hosting of any event – large or small. This new service industry is truly a legacy of the annual Jazz Festival. Apart from the annual Jazz Festival, St. Lucia has hosted ICC Cricket World Cup, ICC World 20/20 Cricket, CHA Marketplace and a host of other major regional and international events where our people have risen to the occasion and become certified, qualified and experienced. In addition, they have also established professional businesses dedicated to the Events Industry which has been created as a new economic sub-sector. Today, outside of the major events there are a host of others which keep our events professionals busy such as festivals, award ceremonies, product launches, promotional events, cocktail receptions and weddings. The spread of services required is varied and diverse and persons or entities planning events need to contract the services of those who would have mastered the art, science and business of event planning to successfully organise and execute an event. We now have a proud history of doing this – and doing it damned well, we’re told! When a business invests its resources to developing and executing an event, it expects a desired standard, end result and positive returns on that investment. Today, hosting events is a powerful forum for connecting products or services with target audiences. The event planning checklist can be long, but the first item must be contracting experienced event planning professionals. St. Lucia has a long list of support service providers to cater for every need to make the event truly professional and memorable. Many of these persons have been recognised both locally and regionally and we salute them. We encourage you, Dear Reader, also to make full use of their services when hosting your next event. This issue also offers the usual round-up of events locally, regionally and internationally that would be important to you, whatever your business. Articles cover the local Chamber of Commerce outlining its priority areas ahead of the next general elections, the efforts of local businesses to help young persons and healthy causes, the ECCB Governor looking back and forward, the World Bank’s continuing commitment to Latin America and the Caribbean, and the IMF’s new leadership in search of global economic balancing. Happy reading!

Business Focus magazine is published every two months by Advertising & Marketing Services Limited (AMS), Saint Lucia.

Lokesh Singh Publisher / Managing Editor BusinessFocus Sept / Oct

Publisher / Managing Editor: Lokesh Singh email: lokesh@amsstlucia.com Project Coordinator: Alex Foster - alex@amsstlucia.com Graphic Designer: Donald Brower Deri Benjamin Advertising Sales: Cennette Flavien - cennette@amsstlucia.com Hudson Myers - hudson@amsstlucia.com Webmaster: Advertising & Marketing Services Photography: Video Ventures | Advertising & Marketing Services Ashley Anzie Contributors: Earl Bousquet | Pilaiye Cenac | Betty Combie First Citizens Investment Services | SLASPA Faithaline Hippolyte | Rashid Jean-Baptiste Dr. James Sutton Editorial, Advertising, Design & Production: Advertising & Marketing Services P.O. Box 2003, Castries, Saint Lucia Tel: (758) 453-1149; Fax: (758) 453-1290 email: ams@candw.lc www.amsstlucia.com, www.stluciafocus.com Business Focus welcomes contributions from professionals or writers in specialized fields or areas of interest. Reproduction of any material contained herein without written approval, constitutes a violation of copyright. Business Focus reserves the right to determine the content of the publication. On The Cover: Mr. Adrian Augier

BUSINESS BRIEFS FirstCaribbean Bank Re-Branded CIBC Brings World Class Recognition

Choice Hotels Continue to Raise the Diversity Bar

New Credit Union President Eyes the Sky

FirstCaribbean International Bank yesterday announced that it will be branded under the CIBC banner by adopting the co-branded name of “CIBC FirstCaribbean International Bank.” “By joining together the strong branding identities of both CIBC and FirstCaribbean, CIBC FirstCaribbean represents the proud heritage and uniqueness of the Caribbean backed by the financial strength of CIBC, one of the largest and best capitalised banks in Canada,” explained Michael Mansoor, the bank’s Executive Chairman. “CIBC is one of the leading banks in Canada, and Canada’s banking system has been ranked as the best in the world by the Genevabased World Economic Forum for the last three years,” Mansoor added. “And in May, the Bloomberg Markets magazine named CIBC the fourth strongest bank in the world, so linking the FirstCaribbean brand with CIBC will leverage this financial strength and world class recognition.” Director of Corporate Communications, Debra King explained that the change was not sudden, since the company had been using co-branding in advertising for some time now and hence it is a natural progression. Among the changes customers will observe over the next few months will be the dropping of the FirstCaribbean diamond and the adding of the CIBC logo along with changes to the interior of the branches, updating of marketing materials and a change in employee uniforms. King emphasised that all of the services the bank offers would remain the same. It will be the “same bank, same people, just a different look,” the director said. Meantime, the bank’s CEO John Orr said, “The addition of CIBC to the FirstCaribbean brand emphasises CIBC’s long-term commitment to the Caribbean region, our employees and our clients. “Our clients and our employees across the Caribbean will continue to benefit from the longterm investment that CIBC is making in the region, that dates back to when our first branches opened in 1920.”

The commitment of Choice Hotels to diversity and increasing the number of minority franchisees in its system across America continues to yield impressive results. Speaking in Atlanta during the recent annual Black Enterprise Entrepreneurs Conference and Expo, Brian Parker (pictured), Vice President of Emerging Markets and New Business Development of Choice Hotels International, said the company is extremely proud of the diversity leadership position that it holds in the lodging industry, especially as it pertains to minority hotel ownership. “Minority franchise recruitment is a core component of our corporate diversity strategy and over the past several years we’ve been fortunate to have a great deal of success,” said Parker, who is taking part in Black Enterprise’s Deal Makers Expo for the sole purpose of identifying, educating, and recruiting qualified African American entrepreneurs to become Choice Hotels franchisees. “We’re committed to showing the way for minority entrepreneurs who have no experience in hotel franchising, but are looking for new entrepreneurial opportunities,” said Isaac Brown, Emerging Markets Director for Choice Hotels. “As we come out of the downturn there’s no better time to invest in hotels than the present,” Brown added. As a symbol of the success of Choice Hotels in this diversity arena, on May 25th in downtown Atlanta, successful African American real estate investor, Evens Charles, along with his partners, opened his second Choice Hotels branded hotel, the first ever Comfort Suites property in downtown Atlanta. (His first hotel was a Comfort Inn property in Martinsville, Virginia.)

The new President of the St. Lucia Civil Service Cooperative Credit Union (SLCSCCU), Edmund Regis , says he has big plans for the future of the island’s largest credit union – and he intends to take it to its next level of development as a financial institution and a members’ organisation. Regis, General Manager of the National Printing Corporation, told BF his election to lead the island’s largest credit union during its 50th anniversary “is a momentous opportunity to start the credit union’s next 50 years. “I will be working with my fellow directors, the administration and, most of all, the members, to take the SLCSCCU through to the next level of changes necessary to better serve our members and place ourselves on a much better footing,” he added. A former Deputy Permanent Secretary in the Office of the Prime Minister who also served with the Ministry of Communications and Works and the Ministry of Planning, has been at his current post at the government-owned national printery for the past eight years. Regis served on the previous Board of Directors of the SLCSCCU and was elected by fellow directors following the institution’s 30th Annual General Meeting in Castries in June. He has replaced retired former Agriculture Ministry official Henry Lubin, who did not seek re-election. Agosta Degazon, a senior Finance Ministry official, retained his position as Vice President. Former Comptroller of Customs, Matthew Lafeuille, retained his position as Company Secretary while Deputy Comptroller of Inland Revenue, Adria Sonson, retained her position as Treasurer. Other board members include: Director of Audit Averil James Bonnette, Attorney Michael St. Catherine, NIPRO Human Resource Specialist Helen Richards, Ministry

BusinessFocus Sept / Oct

BUSINESS BRIEFS of Commerce Marketing Specialist Junia Emmanuelle and Sylvestre Dickson of the Inland Revenue Department. The SLCSCCU, with up-to-date assets of over $144 million, is the third strongest credit union in the OECS and ranks among then top five with Barbados included. Registered in 1961, it observes its 50th anniversary this year, ahead of the observance of 2012 as the International Cooperative Credit Union Year, as designated by the United Nations.

SLBC $26M Shares Purchase puts GOSL in Strategic Position in WINFRESH

The Government of Saint Lucia’s (GOSL) purchase of the major shares of the St. Lucia Banana Corporation (SLBC) in WINFRESH - the re-branded former Windward Islands Banana Development and Export Company (WIBDECO) - has strengthened its position in the ownership of the regional entity and given it a firmer grip on the local banana industry. In July, the government paid a cheque worth $26,266,000 to the SLBC’s liquidators, Omar Davis and Claude Griffith, for the shares of the island’s lone association of banana farmers, which is in voluntary liquidation. The liquidators indicated each SLBC shareholder would receive “a payout of $5,000,” with the rest of the monies to pay outstanding SLBC debts and commitments after July 5th. A new government-owned entity, the St. Lucia Agricultural Holding Company, was established to manage the acquired SLBC assets. The Government said the holding company will also manage other SLBC assets, including Ranju Farms and the SLBC building in Castries, over which possible purchase negotiations were still under way. Agriculture Minister, Ezekiel Joseph, said the purchase of the WINFRESH shares will also lead to the regional company investing

more in marketing a broader variety of St. Lucian agricultural produce. The government also expects to strategically benefit from the growth of WINFRESH, which one local agriculture ministry official told BF “has already been engaged in an aggressive program to broaden its commodity-base beyond bananas and to reposition itself as an agri-business enterprise.” The SLBC emerged from the original St. Lucia Banana Growers Association (SLBGA) and once stood as a powerful financial and economic institution, owned and run by the banana farmers in the largest producer in the Windward Islands. The SLBC’s 20% shares in WIBDECO and WINFRESH placed it as the most powerful player among the Windward Islands banana associations, with unmatched local property holdings, including farms, equipment and buildings. When added to the GOSL’s original 12.5% in WINFRESH, the SLBC share purchase gave the St. Lucia government 32.5% share of WINFRESH shares, placing it as the most powerful government on the WINFRESH Board of Directors. Major dissention between directors, bad investments, several court cases and divided leadership all had negative effects on the management of the entity of late, at a time when banana earnings were declining as a result of the lower prices on the traditional European market. With the SLBC now in liquidation, the private farmers are now without a major player that was the largest and most effective national association, leaving the turf wide open for other existing private entities to fill.

Opposition holds ‘Retreat on the Economy’

With General Elections approaching, the official opposition St. Lucia Labour Party (SLP) held a “Retreat on the Economy” on July 3rd, aimed at generating consensus on ideas for the party’s manifesto and finalising a blueprint for implementation should it win the polls. All of the party’s 17 candidates participated in the retreat, which was facilitated by a select group under the chairmanship of former St. Lucia Prime Minister, Dr. Vaughan Lewis. The party reports that several candidates made lead presentations, including former Tourism and Commerce Minister, Philip J. Pierre, who presented on ‘Financial Policy and Debt, Tourism and Investment,’ while Laborie MP Alva Baptiste, spoke on ‘Physical Development Planning and Air Transport Policy.’ Former Director of National Insurance, Emma Hippolyte presented on ‘Economic Governance and Social Partners’ (together with Dr. Vaughan Lewis), as well as on ‘Universal Health Care – A National Investment in our People.’ Dr. Ubaldus Raymond spoke on ‘The Economic Situation and Prospects Since 2006.’ Dr. Robert Lewis MP presented on ‘New Initiatives in Education to Stimulate Productivity,’ while Moses Jn. Baptiste MP presented on ‘Redirecting Our Agricultural Base for Contributing to Growth.’ Other presentations by non-candidate experts included ‘Energy and Water Efficiency,’ ‘Investment and Appropriate Innovation in ICT’ and ‘The New Economic Paradigm for Youth, Sports, Culture & the Creative Industries.’ The party says there was “lively and healthy discussion on all the presentations.” At the time of the retreat, no date had yet been set for the General Elections.

BusinessFocus Sept / Oct

BUSINESS BRIEFS AA links appreciated and reaffirmed

St. Lucia’s Tourism Minister Allen Chastanet and other local tourism officials say they are pleased with American Airlines’ contributions to the development of the island’s overall tourism product. Chastanet, Tourist Board Director Louis Lewis and President of the Hotel and Tourism Association, Karolyn Troubetzskoy, along with Communications Minister Guy Joseph, visited AA’s divisional headquarters in Greater Miami, where they met Peter Dolara, AA’s Senior VP for Mexico, the Caribbean and Latin America. Dolara, a Uruguayan, is responsible for all aspects of AA’s operations in Latin America and the Caribbean, including airport operations, sales activities, customer service, cargo sales and services, and scheduling activities. He also heads the region with the largest operating unit for AA, which includes Miami International Airport, the gateway to St. Lucia, the Caribbean and all of Latin America. The local group reviewed AA’s services to St. Lucia and provided Dolara and his team with destination updates. Chastanet said that with other airlines cutting back services in today’s recessionary times, “AA’s commitment to serve St. Lucia with daily non-stop flights from Miami and twice daily flight from San Juan, helps to keep our economy ticking.” Lewis described the meeting with the AA team as “an eye opener” and said it was important that “in today’s challenging aviation environment, with high costs of fuel and operations, it is important for us o continue solidifying our relationships with all of our partners.

BusinessFocus Sept / Oct

Tourism made affordable for locals Summerlicious Staycation!

Most Saint Lucians have always wished for a slice of that piece of the national tourism cake that would turn them into “a real tourist” – and to get some of the same treatment given to the visitors of their island’s shores. That wish to stay at home and have a world-famous vacation is no more – it’s now a reality. The Hotel & Tourism Association (SLHTA) and other local tourism entities have come up with the concept of a “Staycation” – to encourage St. Lucians to stay right here and vacation at home. Under the theme “Why not home!!!” the intention is to encourage St. Lucians – over a three-month period -- to pay and stay at any of 21 local properties – book at any hotel, eat at any restaurant and otherwise make use of every available facility normally geared to the overseas visitor. This way, any St. Lucia resident can – and for a price slashed so low that it’s simply affordable to all – stay at any of the facilities participating in the offer, which started July 1st and continues until September 30th. The facilities on offer range from hotels and guest houses, restaurants and diners to land and sea tours (from off-road trails to whale watching) – and the participating entities stretch around the island. Also part of the “Staycation” experience is “Summerlicious St. Lucia,” described by participating eating establishments as “a great gastronomical experience in some of St. Lucia’s best restaurants all summer long.” Louis Lewis, Director of the St. Lucia Tourist Board (SLTB), says, “Summerlicious is a wonderful opportunity for us to showcase St. Lucia’s wide variety of delectable cuisine from our diverse heritage. Saint Lucian dishes are infused with Creole, French, English and African flavours, making St. Lucia a truly desirable culinary destination.” The tourism planners hope this threemonth experience will usher in a greater

level of local involvement in the tourism industry, which has for too long been mistakenly regarded by too many as being only and solely oriented to visitors from overseas. Now, St. Lucian residents have the chance to vacation at home – to “Staycation” for a fraction of the full price paid by overseas visitors – and enjoy everything no less than any vacationer from any of the other climates.

Two Get Top CARICOM Awards

Two of CARICOM’s top awards have been doled out to one man and one woman who have long served the interests of the Caribbean at various levels over time. Former Caribbean Community (CARICOM) Secretary General, Sir Edwin Wilberforce Carrington, was invested with the Order of the Caribbean Community (OCC), CARICOM’s highest award, at the 32nd CARICOM Heads of Government Summit in St Kitts during the first week of July. “Eighteen years as the longest serving Secretary-General has revealed the mettle of this man,” the CARICOM leaders said in their citation. Sir Edwin Carrington retired in December 2010 after serving as CARICOM Secretary General for 18 years. Meanwhile, University of the West Indies (UWI) Deputy Principal and Gender Professor Dr. Violet Eudine Barriteau has been presented with the 10th Caribbean Community Triennial Award for Women during the official opening ceremony of the recently held CARICOM Heads of Government Summit in Basseterre, St Kitts. The academic was honoured for “her remarkable contribution to the field of gender and development and her role as a powerful exemplar of self-respect, selfdiscipline, vision and leadership.” The Triennial Award for Women was introduced in 1983 to recognize and honour Caribbean women who have made significant contributions to socioeconomic development at the national and regional levels. BF

BUSINESS TECH

Partners with

To Provide Communications Solutions for SMEs Avaya, a global provider of business collaboration systems, software and services has partnered with telecommunication provider LIME in rolling out a communications solution for small and medium-sized enterprises (SMEs) in the region, aimed at enhancing user experiences and helping to drive improved savings of up to 60 per cent. The product, Avaya IP Office 7.0, was one of several product releases and innovations in the small and medium business market launched by Avaya recently in Jamaica. Avaya IP Office 7.0 completes the integration of Nortel Enterprise Solutions (NES) IP and digital phones into the IP Office platform (NES was acquired by Avaya, December 2009). The integration now enables approximately 14 million NES users to gain Avaya IP Office’s collaboration capabilities. Avaya Channel Account Manager Natalie Pitchford advised, that companies which are migrating from Legacy Nortel communication systems can achieve between 40 - 60 per cent investment protection while taking advantage of the new features and functionalities of the IP Office 7.0. “Avaya Small and Medium Enterprise Communications business unit is focused on designing, building, and marketing complete communications systems for organisations with up to 250 employees,” said Pitchford. “From easy-to-use stand-alone systems to sophisticated and integrated multi-site BusinessFocus Sept / Oct

solutions, Avaya helps SMEs increase the productivity of their employees, deliver superior customer service, and reduce costs,” she said. Avaya IP Office 7.0 also delivers an expanded portfolio of devices for multimedia collaboration, including sophisticated new colour touch screen desktop phones that let users scroll through contacts or manage visual voicemail at the touch of a finger. Additionally, new conference room phones offer patented wide-band audio, call recording via SD card, and fast USB connectivity to a laptop for temporary set-ups. Additionally, Avaya is working with all its partners in the region including LIME, as a key partner, in some 14 countries in the Caribbean — among them, Anguilla, Antigua & Barbuda, Barbados, British Virgin Islands, Cayman Islands, Dominica, Grenada and Jamaica — offering Avaya IP Office 7.0 to all small and medium business customers. Lloyd Distant Jr, LIME Managing Director Customer Segments, noted that LIME’s recent receipt of Avaya’s most distinguished certification as Platinum partner has reinforced the telecom’s position as Avaya’s premier partner in the Caribbean and to this end, the companies sought more opportunities to bring value and targeted solutions to their customers. “Being conscious of the increasing demands on our SME customers, LIME with Avaya took the path to provide an offering that allows a cost effective solution to upgrading many of the Nortel systems

currently owned by our customers,” said Distant Jr. “This upgrade path provides a cost effective transition allowing customers to keep their existing handsets and migrating existing extensions and voicemails; one of the most cost-effective protections for existing telephony investments.” The LIME executive explained that the new IP Office 7.0 offer allows small businesses to operate like large enterprises, facilitating improved productivity with contact lists held directly on the phones, call recording capability, the ability to connect laptops directly to the system, HD video-conferencing and bringing handsets with multimedia capability like visual voicemail. Pitchford said there are many growth opportunities in the business of providing IT solutions for SMEs, including providing solutions which allow SMEs to better service their customers and providing solutions which allow SMEs to be more productive and accessible, such as being able to integrate mobile phones to their office communications systems. She said to engage in new markets in Jamaica and across the Caribbean, Avaya is leveraging and extending its partner base and working with key business organisations such as the American Chamber of Commerce (AMCHAM). BF Courtesy: Jamaica Observer

Benefits of a

Computerized POS By Rashid Jean-Baptiste

I am always surprised by the number of retail stores in St. Lucia which do not have a computerized point of sale system (POS). There are so many benefits to be had from such a system and this article will discuss some of them. All of these benefits lead to one thing, which is an increase in profitability for your business. The benefits we will discuss are the core benefits which will be found in the majority of systems on the market right now. There will of course be certain systems which provide more features and benefits but in this article we will stick to the core. Faster and Simpler Checkout: Just scanning the barcode can ring items up and if they do not have a barcode they can be programmed as buttons on the display. Any discounts can be automatically applied and when it is time for the customer to pay there will be buttons for common dollar amounts. Accurate Inventory Tracking: Each time an item is sold it will be automatically deducted from the store’s inventory. This helps track overall inventory movement, easily identifies best and worst selling products, points out stock discrepancies and stock depletions, just to name a few. Detailed Business Reporting: There are many useful reports coming from a POS that can aid a business owner

in making effective business decisions. Some of these reports include daily financial summaries, number of customers and average transaction amount, best and worst selling products, hours worked by each employee, number of items and amount of money on lay-away, etc.

to tie into many of the POS’ on the market. The integration may not be seamless in each case and it should be something to pay close attention to when deciding on which POS to acquire. Ideally you should select a system that seamlessly integrates with your existing accounting software.

Employee Management: Each employee can be assigned a unique code and password that they will use to clock in and clock out. This code will determine the permissions of the employee on the system. For example, the system can be configured in such a way that only a store manager can void a transaction and a sales clerk cannot. The system can always be reviewed to ensure the punctuality of staff and the actual number of hours that they worked. Each sales transaction will be tied to only one employee and total cash for a shift can be reconciled with all cash transactions executed during that shift.

I hope the above has shed some light on how a computerized point of sale system can help increase the profitability of your business. The average cost of a complete system, both hardware and software is around EC$5,000 but the final figure depends on the software you choose and the various hardware components that you require. This figure may seem significant, but when viewed in the bigger picture with all the system’s benefits, it really is trivial. Three popular software systems on the market right now are Cash Register Express from pcAmerica, QuickBooks Point of Sale from Intuit, and Retailman Point of Sale. BF

Loyalty Programs: The majority of POS’ on the market have built in loyalty programs for your customers. Customer data can be captured and all their transactions recorded so as to provide attractive incentives to your most loyal customers.

About the Author Rashid Jean-Baptiste is the Managing Director of West Technology Group Inc., an IT services provider company based in St. Lucia. Prior to this he spent over ten years in senior IT roles at Microsoft Corporation.

Accounting Software Integration: Accounting software like QuickBooks, MYOB and Peachtree all have the capability BusinessFocus Sept / Oct

BUSINESS TECH

Revolutionary Marketing Creative Ways to Use QR Codes in Business By Wayne Marsh

Have you noticed how Facebook and other popular social media website URLs are appearing in company ads lately? This is testimony to the fact that businesses are becoming more engaged in digital marketing activities. The next trend that may become popular locally is the use of Quick Response (QR) Codes. You may have seen them in a few local advertisements but did not know what they were called. QR Codes are a more advanced version of the bar-codes which we have become accustomed to seeing on products in supermarkets and stores. BlackBerry users should by now be familiar with their own QR Code which can be accessed from the ‘My Profile’ option in BlackBerry Messenger. They are referred to as Quick Response codes because of how quickly you can access the information stored in the code and with just a scan of the image. Unlike its one dimensional bar-code predecessor, the QR Code is a two dimensional bar-code which allows it to encode data horizontally and vertically therefore allowing for much greater information storage. Any smartphone with a QR Code reader can read these codes. They are most commonly seen in print ads and on billboards and websites. QR Codes are relatively new in the western hemisphere, but have been in use for some time in Japan and China. The use of QR codes has been spreading rapidly throughout North America. The most common use of the QR code locally is to exchange contact data between BlackBerry devices but there are many more uses that businesses can take advantage of. Let’s examine some examples of how you can market your business using QR codes. Business cards This is probably the most common example of QR codes in action. You can create a QR BusinessFocus Sept / Oct

code that leads prospects to a website with all the relevant information that you want to share with them about your products and services. However, remember that the more contact information you pack into your QR code the denser it will be. This may result in some QR code readers taking a very long time to read the code, if at all. Real estate Add a QR code to all your marketing material, including lawn signs for each property you have for sale. When prospective buyers scan the code they can be directed to a website that showcases all information for that property. Another option is to direct customers to videos that you have created and uploaded to your YouTube channel or to other video-sharing sites. Promote your Social Media presence Build your Twitter followers or Facebook fans by using QR codes. When the QR code is scanned, send persons to your mobile website landing page with Facebook “Like” buttons or direct them to your Twitter page. The Facebook “Like” process via this method is not as user-friendly as it could be, so ensure to test thoroughly before launching. It is always a good idea to incentivise persons to complete a call to action; a discount code via email may suffice.

Make a phone call You could create a QR Code to dial a specific number when it is scanned or generate an SMS text message. This is a great way to instantly generate leads. There is usually a prompt for you to confirm any such action in order to avoid any surprises. I have included an example of a QR code that takes you to a mobile web page. You can scan the code from the “Scan a Barcode” option in the App World app on a Blackberry or search your smartphone’s application store for a free QR code reader. Go ahead, give it a try. Closed but virtually open There is always the late shopper who arrives when your store or office is closed. Placing a QR code on your “Closed” door sign that directs the shopper to a mobile website could prevent you from losing a sale. You can either direct the shopper to a mobile e-commerce website or to a mobile Contact Us web page for you to follow up by the next business day. Coupons Imagine reaching the checkout counter at your favourite store and presenting a QR code displayed on your mobile phone’s screen to receive a 20 per cent discount. Retailers are doing this now. In this example the QR code would have been sent to you via email or by some other medium. The person at the checkout counter would use their cash register scanner to scan the QR code displayed on your phone’s screen. Note that your target market would not need a smartphone to receive the QR code. Apparel Place your QR codes on T-shirts, caps and any other form of clothing that you can use in a creative way. Send out your employees clad in T-shirts with large QR codes imprinted on them to your next

corporate event. Remember that you have the option of creating different branding messages in each code. QR codes can be effective in both your online and offline marketing. As you have seen they can be placed anywhere as long as the surface is flat enough, including on motor vehicles, clothing, and store windows. Companies have been editing their QR codes after they are generated using an image editing tool that place their logo or brand in the code. You are limited only by your creativity in using this new form of digital marketing. However, always be sure to test your QR code before putting it into mass production. Also, don’t forget to measure the success of your QR code campaigns. This can be done by using analytics tools which can also provide data on the type of phone that was used to scan the code. Also remember that, before engaging in any QR code campaign, you must first determine if your target market are likely to be smartphone users, even though we know this market is growing rapidly. You must also be specific as to the objectives of the campaign and it should be aligned with your overall marketing plan. Good luck. BF About the Author Wayne Marsh is an Internet Marketing Consultant and can be contacted at marshwa@ebusinessSolutionsJa.com or www.ebusinessSolutionsJa.com or Twitter.com/JamaicanTwits Courtesy: Jamaica Observer

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Saint Lucia: Corinth Estate Road, Gros Islet • T: (758) 451-7825 • M: (758) 485-4020 Florida: 18520 NW 67th Ave., Ste. 288, Miami, FL 33015 • T: (954) 840-5857 BusinessFocus Sept / Oct

BUSINESS TECH

Expands Spoken Search to Desktop Computers Google is introducing more technological tricks to simplify internet searching and give people another reason to surf the web on its Chrome browser. The features recently unveiled include an option that will allow people to speak their search requests in English while sitting in front of their office and home computers. It’s something they can already do on smartphones running on Google Inc’s Android software. The new features serve as another reminder that search remains Google’s backbone even as the company branches into mobile devices, browsers, computer software, music and even television. By continually coming up with new ways to simplify search requests, Google hopes BusinessFocus Sept / Oct

to extend its dominance in what so far has been the internet’s most lucrative market: steering people to the information they want as quickly as possible. Spurring more search requests provides Google with more opportunities to show the ads that generate most of its revenue. For now, the spoken-request option for desktop computers will be offered only on Google’s Chrome browser. It will be activated by clicking on a microphone icon inside Google’s search box. Google hopes to eventually make all the features available through Microsoft Corp’s Internet Explorer and Mozilla’s Firefox browsers, both of which have wider audiences than Chrome. Eventually, people

will be able to speak requests in other languages, too. The speech-recognition technology draws upon a database of more than 230 billion words that Google has built while processing spoken requests on phones for the past two and a half years. Another innovation is designed to load web pages more quickly after users click on the top search result. The “Instant Pages” option, which also requires Chrome, builds upon a nine-month old feature in which search results automatically appear after typing in a few characters into a search box. The results change as more letters are typed in to complete the search query. BF

MONEY MATTERS

ECCB Governor Says Projected OECS Growth Will Depend on Global Recovery and Domestic Policy Initiatives

Another Big Challenge! Sir Dwight Venner

When ECCB Governor, Sir Dwight Venner presented his annual report on the state of the performance of the OECS region’s Central Bank recently, he pointed out that the year 2010/2011 was “another challenging one” for the ECCB and its member governments, “as the global financial and economic crisis continued to impact the Eastern Caribbean Currency Union (ECCU).” He said a return to positive growth is anticipated in the OECS (Organisation of Eastern Caribbean States) region for 2011, as economic activity is projected to increase by 2.2%. But, he warned, “the eventual out-turn will depend, to a large extent, on spill-over effects from the global recovery, as well as deliberate policy initiatives in the domestic and regional economies.” As at 31 March 2011, the ECCB Governor reported, “the value of currency in circulation was EC$759.22 million. Banknotes accounted for EC$680.92 million or 89.69%, while coins in circulation amounted to EC$78.30 million or 10.31%. “The aggregate currency in circulation at the end of the financial year reflected an increase of EC$5.29 million (0.70%) above the total in the previous financial year.” The Governor reported that the bank “continues to work closely with member governments in the identification and removal of legal impediments to the establishment of a single financial and economic space.” In that regard, he added, “the bank has proposed, and held discussions on a conceptual framework inclusive of a legislative action plan to bring about the single financial space.” After years of steady growth, activity on the Regional Governments Securities Market (RGSM) declined during the financial year 2010/2011. This, said Sir Dwight, “was reflected in fewer auctions – only 29 -- as opposed to 42 in 2009/2010.” Additionally, he reported, the number of bonds issued declined to five from seven. Consequently, the value of securities issued BusinessFocus Sept / Oct

contracted by 27.4% ($233.4 million) to $618.0 million. “The secondary market for government securities experienced a 21.7% contraction ($2.3 million) to $8.4 million, in the value of trades. This was as a result of the decline in the number of trades from 30 to 27,” he added. “The downturn in activity was related to the growth of the broker repurchasing market and the decline in new bond issues by participating governments,” he explained. “As at 31 March 2011, the bank’s Total Assets stood at $2,832.5m, an increase of $256.1m (9.9%) when compared to the position last year. Foreign Assets increased by $282.6m (12.8%) to $2,485.5m, primarily due to inflows of grants and loans to member governments from international institutions….” Continuing his comprehensive report, Sir Dwight said that as at 31 March 2011, the bank’s Total Assets stood at $2,832.5m, an increase of $256.1m (9.9%) when compared to the position last year. Foreign Assets increased by $282.6m (12.8%) to $2,485.5m, primarily due to inflows of grants and loans to member governments from international institutions. The reinvestment of gains on the sale of foreign securities held within the ECCB’s foreign reserve portfolio also contributed to increase. Domestic Assets decreased by $26.5m (7.1%). The significant movements in that category, the Governor explained, were reported in Loans and Receivables – Participating Governments’ Advances and Accounts Receivable and Prepaid Expenses. Loans and Receivables – Participating Governments’ Advances, the Governor reported, declined by $17.7m (26.8%) as the Bank’s extension of credit to member governments at the end of the financial year was less than that at the end of the previous year. According to the Governor, “The decline of $8.6m (29.2%) in Accounts Receivable and Prepaid Expenses was mainly due to a decline in Prepaid Currency Cost which resulted from expensing the

cost related to currency notes and coins issued during the period.” The bank’s Total Liabilities expanded by $256.2m (10.9%) over the year, he reported, adding that, “the most significant increase in that category was an increase in Commercial Banks’ Reserve Balances of $275.7m (23.0%).” Total Equity remained relatively unchanged at $225.7m, however, significant movements were reflected in the Unrealised Holding Gain Account which decreased by $10.0m as a result of weakening in the US bond market. On the other hand, the General Reserve increased by $9.0m (7.6%) due to allocation from profit to increase the General Reserve to 5.0% of Demand Liabilities in compliance with the ECCB Agreement Act 1983 – Article 6(3). The consolidated net income for the year under review was $22.6m, a decrease of $14.5m (39.1%) from the previous year’s net income of $37.1m. The decline in net income, Sir Dwight explained, “was mainly attributed to decreases of $8.8m in Interest Income and $4.6m in Other Income.” The decrease in Interest Income, he said, “was due to a lower average interest earned on foreign securities and money market instruments in the foreign reserve portfolio.” Sir Dwight explained that as a result of the performance results, maintaining currency stabilisation and protecting member-states from further external shocks are among the ECCB’s highest priorities for the 2011/2012 financial year. He therefore outlined five strategic priorities for the current financial year, including: Early identification and resolution of risks; better influencing monetary and credit conditions; removal of impediments to a single financial (OECS) space; helping ECCU governments articulate and implement macroeconomic transformation programmes; and encouraging modernisation of the public sector. BF

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MONEY MATTERS

US Increases Funding

for Security, Clean Energy & Business Partnerships The United States has increased funding for a regional crime and security initiative and committed itself to helping green energy projects and boost Caribbean exports, Secretary of State Hillary Clinton said at a meeting held recently with Caribbean Foreign Ministers in Montego Bay, Jamaica. Washington backed up its pledge to help the region fight the trafficking of illegal weapons and drugs by allocating 77 million dollars in funding for the Caribbean Basin Security Initiative (CBSI) – a 70 per cent increase over the previous year. Clinton made the announcement at a news conference following a high-level meeting with her Caribbean counterparts at the Ritz Carlton Hotel in this tourist resort town. “We have stepped up our joint efforts to crack down on corruption, illegal weapons, narcotics traffickers and to create economic opportunities for young people,” Clinton told journalists. “As we work to invest this new money, we need to hear from you. What is working? What isn’t working? How do we achieve our priorities? How do we finally adopt formal mechanisms to coordinate maritime security efforts?” she told ministers. In a joint statement, the United States and CARICOM “reaffirmed a shared commitment to work together through the Caribbean Basin Security Initiative (CBSI) partnership.” Since they met in June 2010 in Bridgetown, Barbados the CBSI partner nations have made progress in addressing priorities in social programmes and law enforcement identified by the partners, the statement said. Under the CBSI, remedial education and jobs skills training have been provided for Caribbean youth, in addition to efforts at juvenile justice reform, anti-corruption, border security and prison reform, according to the statement. The CBSI is also intended to professionalise police officers, help the region share intelligence, interdict drugs at sea and reduce local demand for drugs. The American Secretary BusinessFocus Sept / Oct

of State and her Caribbean counterparts also held talks on the vexed issue of the repatriation of criminal deportees to their home countries. The US and CARICOM said they looked forward to further progress in addressing identified priorities as they prepared for a second annual meeting on regional security in November in The Bahamas. Clinton and CARICOM foreign ministers also pledged their solidarity with the people of Haiti and their commitment to support Haiti as it rebuilds from the devastating January 2010 earthquake. The United States and the Caribbean also announced cooperation under the Energy and Climate Partnership of the Americas (ECPA) in the areas of energy efficiency, renewable energy, energy poverty, and climate change. American expertise in clean energy is to be provided under the Enhancing Sustainable Energy Solutions in the Caribbean Initiative and the Caribbean Climate Change Adaptation Initiative, a partnership between the University of the West Indies and American universities to promote research and policy-making on climate change adaptation. “They will work together toward a successful outcome at the climate negotiations in Durban that builds on Cancun,” the statement said. With the Caribbean islands and coastal nations on the frontline of climate change, and increasingly vulnerable to intensifying natural disasters and rising sea levels, the Americans discussed the region’s vulnerability to natural disasters and the need for continued cooperation with its regional partners. Washington also pointed to opportunities for the Caribbean to boost trade with its largest trading partner through the extension of the Caribbean Basin Trade Partnership Act (CBTPA) which held out the “possibility” of greater Caribbean exports through “increased production and productivity.” “The United States and Caribbean countries recognized that enhancement of growth and economic development of the

US Secretary of State Hilary Clinton greeted by Jamaican Prime Minister Hon Bruce Golding and other officials

Caribbean would contribute to improving the international competitiveness of those countries, as well as to achieving their objectives of improved standard of living, job creation, and social stability,” the joint statement said. “They therefore, agree to work together to achieving these objectives.” The foreign ministers and the US secretary of state also recognized the civic and cultural contributions of the Caribbean Diaspora highlighted during Caribbean-American Heritage month in the United States. They noted the Caribbean Diaspora’s connections to their communities in the Caribbean and considered ways to engage those communities in solving shared problems. Last month, Clinton announced the launch of the International Diaspora Engagement Alliance (IDEA), a publicprivate partnership that will provide a “platform for the private sector, public institutions, and Diaspora organizations to coalesce and work together on issues of common interest.” Clinton announced the Caribbean IDEA Marketplace, a business competition platform being developed in partnership with public and private institutions to challenge global Caribbean Diaspora business and social entrepreneurs to generate innovative projects that will stimulate employment and economic growth in the region. Clinton met with foreign ministers and their representatives in the 15-nation CARICOM grouping together with the Dominican Republic. Although a full member of CARICOM, the meeting did not include Montserrat, a British dependent territory whose foreign policy is administered by London. BF

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MONEY MATTERS

The Secret Life of

Treasury Bills What is a Treasury Bill? Treasury Bills, otherwise known as T-Bills, are short-term debt instruments only issued by governments to fulfill their short-term borrowing needs. Treasury Bills are issued usually for tenors ranging between 91- 365 days within our region and are auctioned using one of two price methodologies. How are T-Bills brought to market? In securities markets, Treasury bills are auctioned using either a competitive or a non-competitive auction methodology. Persons interested in adding T-Bills to their portfolio can bid for them in two ways: • With a non-competitive auction, you agree to accept the discount rate determined at auction. In this type of auction, you are guaranteed to receive the security and the full amount you want. During this bid, brokers who bid first are most likely to have their bids filled – it is based on a first come, first served basis. • With a competitive auction, you specify the discount rate you are willing to accept. During this type of auction, your bid may be accepted in the full amount you want, if the rate you specify is less than the discount rate set by the auction. Your bid may be accepted in less than the full amount you want if your bid is equal to the high discount rate, or your bid may be rejected if the rate you specify is higher than the discount rate set at the auction. If the total amount bid for the treasury bill is greater than the issued amount, the treasury bill issue is said to be ‘oversubscribed’ and if the total amount bid is less than the issued amount, the treasury bill issue is said to be ‘undersubscribed’. An example: “The Government of St. Vincent & the Grenadines successfully issued EC$15 million 91-day Treasury Bills. The issue was oversubscribed by EC$1.4 million and closed at a discount rate of 5.5%.” This quote means that the government raised capital in the amount BusinessFocus Sept / Oct

of EC$15 million dollars through the issuance of a short-term debt instrument, a T-Bill. The demand was greater than supply by EC$1.4 million - investors placed bids totaling EC$16.4 million but only EC$15 million could be filled, hence the oversubscription of EC$1.4 million. The interest rate on the instrument at the close of the auction was 5.5%. T-Bills: The Process: Before Treasury Bills are issued, the relevant exchange and government will notify the public through press releases in the newspapers, on respective websites and other publications. Issuers decide what type of methodology will be used to auction the Treasury Bills, be it a noncompetitive or a competitive auction. On the day of the auction, brokers place their orders and have the opportunity to continue placing new bids or change already-placed bids until the auction closes. A bid must conform to the terms and conditions stated in the auction announcement and with the auction rules. Once an auction closes, no more bids or changes to those bids are allowed. If you bid in an auction and your bid is accepted, you are responsible for full payment. Non-competitive Bidding • Individual investors would most likely participate in a non-competitive auction to increase the chances that the security amount requested is accepted in the auction. • Investors agree to accept the discount rate or yield set at the auction. • The relevant exchange guarantees that you will receive the security for which you bid in the full amount requested up to the maximum bid limit. • Maximum bid limits vary depending on the issue size. • On auction day, the non-competitive close time is the same as the competitive close time. Competitive Bidding • Institutional investors and more savvy investors will generally place their bids

competitively. •Competitive bidders specify the discount rate or yield they wish to receive. •Success at this type of auction is not guaranteed since you may or may not be awarded the security for which you bid competitively. Depending on how your bid compares to the discount rate or yield determined at the auction - if your bid is less than or equal to the high discount rate or yield determined at the auction, you will receive securities; however, your bid equals the high rate/yield, your bid may be distributed. How do investors benefit from T-Bills? Treasury bills, or T-bills, are issued at a discount from their face value. For example, you might pay $970 for a $1,000 bill. When the bill matures, you would be paid its face value, $1,000. The interest, or profit, is the face value minus the purchase price – in this example, $30. The interest is determined by the discount rate, which is set when the bill is auctioned. To place a competitive bid, you must use a licensed broker-dealer. When a treasury bill is first issued, this takes place on a primary market. If investors want to sell their treasury after they have been first issued, this can be done on the secondary market. At maturity, investors are paid the T-Bill’s face value and the issue becomes void. Facts about Treasury-Bills: • Bills are sold at a discount. The discount rate is determined at auction. • Bills pay interest only at maturity. The interest is equal to the face value minus the purchase price. • Bills are sold in increments of $1,000. The minimum purchase is $5,000 on the Eastern Caribbean Securities Exchange (ECSE). • Treasury-bills on the ECSE generally have 91-day tenors. • Bills are issued in electronic or dematerialized form. • You can hold a bill until it matures or sell it before it matures. BF

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MONEY MATTERS

The Resilience & Innovation of Caribbean Financial Institutions

By Dave Seerattan CCMF

By: Dave Seerattan

It is now nearly four years since the international financial and economic crisis wrought severe damage to international financial markets and the global economy. The fallout from this crisis led to a serious assessment of the systems in place for promoting and sustaining financial stability around the world. In the Caribbean, the crisis that engulfed Stanford Bank and CL Financial was in part due to the fallout from this crisis which exposed inherently vulnerable institutions. These developments have highlighted how potentially damaging and pervasive the impact of this crisis could be to financial institutions and the regional economy. It also emphasised how critical systems for promoting financial stability are, for the future development of the Region. These issues are attracting the attention of regional policy makers in a difficult economic environment where the worst of the crisis seems to have passed but where growth in most Caribbean jurisdictions is expected to remain muted in the near term, creating challenges for policy makers charged with maintaining the resilience of financial institutions. Four years after the global event and over two years since the beginning of the problems at CL Financial and Stanford Bank is an opportune time to evaluate how well regional financial institutions have weathered the crisis by looking at the trend in key financial stability indicators. In the immediate aftermath of the crisis, BusinessFocus Sept / Oct

Caribbean Governments and Central Banks were at pains to reassure markets and stakeholders that the financial systems in the region were resilient and would in large part be unaffected by the global crisis. They argued that regional financial institutions were in large part not exposed to the financial innovations such as securitised mortgages which were the catalyst for the global crisis and that regional financial institutions, particularly the dominant commercial banks, had for the most part stuck to the traditional banking model and would therefore be unaffected by exposure to exotic funding instruments. This prognosis of the central banks in the region was largely correct in the case of commercial banks when one looks at indicators of financial soundness for these institutions. Indicators such as capital adequacy ratios were above the regulatory required minimum standard of 8% in all countries for which information was available. Areas of loan delinquency and profitability in commercial banks have weakened, however, as depressed economic conditions took its toll on the balance sheet of bank clients and therefore on credit demand. In spite of this the Caribbean banking sector generally compared well internationally and improvement is expected in these areas as economic growth firms up. Indeed, in the latest IMF World Economic Outlook update in April, the global growth forecast

for 2011 has remained steady at 4.5% and global financial conditions are expected to remain stable. In the case of other financial institutions, especially insurance companies, which may be more susceptible to market risks and the diminution in financial and other asset values, the negative fallout was more significant. Financial institutions in conglomerates were similarly affected not only because of these factors but also because of the added contagion from their non-financial affiliates. Indicators of financial soundness on non-bank financial institutions (NBFIs) are not readily available but the information that is available suggests that the negative impact on these institutions was more significant. The link inferred between limited financial innovation and the relative stability amongst Caribbean financial institutions during the crisis echoed a dominant strain in the global debate about the future of financial systems after the crisis. In particular, financial innovations were portrayed in a negative light since innovations such as securitised mortgages, particularly the securitisation of sub-prime mortgages, was one of the main causes of the crisis and, as such, needed to be scaled back or rigidly controlled. Indeed Paul Volcker asserts that the only financial innovation that has improved social welfare in the last 30 years was the ATM. Financial innovations attempt to do creative things in finance to create liquidity

and returns but they also create hazards. For example, it has also been argued that derivative markets allow investors to hedge important risks, but they may also tend to increase pre-existing financial market volatility. Felix Salmon of Reuters notes that, “Financial innovation is, by its nature, inherently and predictably dangerous. If something’s innovative, it’s new. And if something’s new, it’s untested.” Meanwhile, a very large part of what we consider ‘financial innovation’ consists of ‘improving’ on existing securities, usually by creating a source of new supply for indemand securities while also providing some kind of pick-up in yield. Eventually, a test comes along: the world behaves in a way that no one had expected, and the new securities prove to be less attractive than the traditional securities they replaced. When that happens, demand for them plunges, their price falls dramatically, and enormous losses ensue. This narrative has been played out many times — look at CMOs and junk bonds in the 1980s, or CDOs and money-market accounts more Barry Eichengreen advert - recently. Business Focus.pdf 1 7/28/2011 12:50:01

also commented during his remarks on the occasion of the award of the Schumpeter Prize of the International Schumpeter Society, Vienna, 20 January 2010, that “The main purpose of financial innovation has not been to provide more efficient diversification of risk, so that a given amount of risk can be held more safely, but to shift that risk to naïve investors who don’t know what they are holding (perhaps because they take the press releases of the rating agencies at face value) and to investors who are confident of being bailed out if things go wrong.” In many respects therefore many financial innovations could be viewed as double-edged swords and, like any weapon, the impact can be good or bad depending on the use to which they are put. This implies that the critical factor determining their impact are the ways in which they can be used and, therefore, the regulatory framework. The crisis has taught us many lessons in the Caribbean. In particular, we must have stronger investor protection in the retail sector, stricter disclosure requirements, more frequent disclosure of information

on risk-based performance and ensure that the regulatory and supervisory system keeps pace with innovations to avoid loopholes that allow institutions to exploit opportunities without necessary due diligence. Some innovations such as securitisation with appropriate regulatory changes can help to better manage risks and improve the long run performance of the financial sector. In fact, innovations might actually emerge from the crisis that lead to better outcomes in the regional financial sector. We have to resist the complacency of returning to business as usual because the region largely avoided the worst of the crisis, but we also need to resist the tendency to regulatory overkill which can stymie the development of the financial sector. BF About the Author Dave Seerattan is the Officer in Charge at the Caribbean Centre for Money & Finance (CCMF) in Port of Spain, Trinidad and is a planning contributor of the 4th Biennial International Business, Banking and Finance Conference. Visit http://sta.uwi.edu/ conferences/bbf4/ for further information.

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ENVIRONMENTAL FOCUS

Charles Devaux of Ferrands Dairy (2nd from left) with CERTUSS representatives at product launch

Steaming Up Energy to fire-up production and save fuel costs The rising cost of fuel is creating permanent headaches for many Caribbean businesses. So, one German firm is offering St. Lucian and other regional companies what it says is a sure opportunity to save on fuel costs through alternative energy generation. CERTUSS, a 50-year-old German company with outlets in 20 countries, is offering a steam generator that it says can save fuel costs by ensuring companies and manufacturers depend less on fuel or electricity for their operations. Ferrand’s Dairy became the first local company to install the new steam generator at its Cul-De-Sac dairy last June, when CERTUSS Sales Manager, Ray Timmins, said the product “will use

BusinessFocus Sept / Oct

less space, reduce operational costs and increase profit margins.” He said that “unlike conventional steam boilers”, his product offers “up to a 98.5% energy efficiency rate” and “is simple to operate and maintain and generates steam in 3 minutes, as against 30 minutes.” CERTUSS Caribbean Sales Representative, Harry Thomas, who also attended the commissioning ceremony, said the company will provide opportunities for training and for employment of local engineers and technicians who will be employed to install, to service and repair the product throughout the country. He said St. Lucians will also be trained to offer the service from two local installations

planned for the North and South of the island. Ferrand’s Dairy General Manager, Charles Devaux and former St. Lucia Manufacturers Association President, Roston Taylor both expressed satisfaction with and endorsed the product. Meanwhile, the company’s product line is not limited only to steam generation. Timmins said it has also designed and manufactured “a broad range of quiet and fully automatic steam generators and thermal systems over five decades, with consumers able to choose from oil, gas or combined burners, as well as electrically heated 8-2000kg/h steam generators.” BF

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ENVIRONMENTAL FOCUS

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Google has emerged as one of the most aggressive clean power investors in 2011, and has now invested over $780 million into clean power projects and technologies, with $700 million of that being invested this year. The latest funding announced, has Google adding another $102 million into a wind farm being built in Southern California’s Mojave Desert. Google has already put $55 million into that 1.5 GW wind farm, dubbed the Alta Wind Energy Center, which is being built by Terra-Gen Power. Google is structuring the deal in the same way as its previous investment in Alta Wind, and is again working with Citibank to create a leveraged lease, where Google and Citibank purchase part of the project, then lease it back to Terra-Gen, who will manage and operate it. Google now has invested $157

BusinessFocus Sept / Oct

million into 270 MW of wind generation at Alta Wind. Google says it’s not buying the electricity directly from the project, and says the returns are reason enough for the investment. The wind power will be sold to utility Southern California Edison under a power purchase agreement that was signed in 2006. But giving Google more control over the energy it needs for its data centers could be a smart investment in the long run. However, the amount of money that Google is investing in clean power is truly awe-inspiring (or maybe terribly shocking if you are a Google shareholder). Just earlier this month Google created a $280 million fund for solar installer SolarCity, its largest clean power investment to date, and its first in residential solar roof-

tops. Here’s a run-down of what Google has backed to date in the clean power space: • SolarCity rooftop solar fund • The world’s largest wind farm— in Oregon • North Dakota wind farm • East Coast wind farm backbone • Wind power from Iowa wind farm • Wind power from Oklahoma wind farm • BrightSource’s solar thermal project • German solar project • Greentech startups (these are small investments) BF Courtesy: Reuters

BusinessFocus Sept / Oct

ENVIRONMENTAL FOCUS

Co-chair of CIF’s Strategic Climate Fund, Admed Shafeeq Ibrahim Moosa

St. Lucia gets Multi-Million Dollar Aid for Climate Resilience

The Climate Investment Funds (CIFs), a partnership of five multilateral development banks, approved 17 million US dollars for St. Lucia to build its national climate resilience as part of the Caribbean regional programme, the World Bank said in a statement Friday. Under the CIF programme, St Lucia is to receive a mix of grants and near-zerointerest loans to offset the cost of climate change on its environment, amounting to 444 million dollars. The World Bank added that St Lucia is the third Caribbean country, after Grenada, and St. Vincent and the Grenadines which are among the first eight countries in the world to build in new strategies for climate resilience to their development plans with CIF support. The CIF’s Strategic Climate Fund gives priority to highly vulnerable least developed countries, including the small island developing states. “As momentum grows for climate action on the ground, the CIFs can be a real gamechanger,” said Admed Shafeeq Ibrahim Moosa, co-chair of the CIF’s Strategic Climate Fund, who is the Science and BusinessFocus Sept / Oct

Technology Advisor to the President of the Maldives, the tiny South Pacific islands on the frontline of climate change and sea level rise. “This week, we’ve seen impressive strategic plans from the many developing countries who want to partner with the Climate Investment Funds,” said Andrew Steer, World Bank Special Envoy for Climate Change. “Now, even more countries are queuing up. At this point, nearly all CIF funds have been allocated and, as we press forward on implementing these important projects, we are seeing a need for additional financing – at least to cover the gap between today and when the Green Climate Fund is fully operational,” he added. The financing announcements were made when more than 500 CIF stakeholders from 79 countries met in Cape Town, South Africa to assess progress on CIF investments, explore ways to scaleup countries’ impact on climate change, and share lessons learned. More than 70 civil society representatives attended the event, with

many more participating online to discuss green jobs, biodiversity-smart planning for wind farms, and how to finance largescale, transformative investments. The event featured sessions on private sector engagement, scientific updates, and climate modelling, the World Bank said. Discussions were held on the significance of CIF governing bodies’ equal representation of developed and developing countries, on innovative financing, on national-level planning, and on the importance of involving a range of participants in decision-making. “Through the CIFs we’re learning important lessons on climate action and helping inform the discussions on climate finance,” said Bobby Pittman, Vice President for Infrastructure, Private Sector and Regional Integration at the African Development Bank. Worth 6.5 billion dollars, the Climate Investment Funds are a partnership of the World Bank with the Inter-American Development Bank and multilateral lenders in Africa, Asia and Europe. BF Courtesy: Caribbean Media Corporation (CMC)

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BusinessFocus Sept / Oct

ENVIRONMENTAL FOCUS

World Bank Credit

Sustainable Inn On Labrelotte Bay

The World Bank is providing a credit of US$5.6 million to Grenada and St. Lucia as they seek to establish the Eastern Caribbean Energy Regulatory Authority (ECERA). As a regional entity, ECERA will improve electricity service delivery and diversify sources of energy generation, including renewables, benefiting electricity consumers across the Organisation of Eastern Caribbean States (OECS) countries. “This initiative will make it easier for OECS members to provide incentives to save energy, reduce electricity costs to consumers, and, in the longer term, lower electricity price volatility by relying less on diesel,” said Françoise Clottes, World Bank Director for the Caribbean. Clottes said demand for electricity in the sub-region has been growing at an annual rate of 3-4 per cent, driven mostly by commercial and residential sectors in tourism-led economies, while electricity prices are among the highest in the world. The Washington-based financial institution said the high tariffs are due, in part, to the countries’ “insular and small electricity systems, an almost complete dependence on diesel, as well as insufficient regulatory enforcement.” The World Bank said that in order to ensure a reliable energy supply in the OECS, regional electricity utilities need “stronger and more efficient regulation to improve oversight, tame the growth of electricity costs, diversify energy supply away from fossil fuels, and attract cost-effective investments in electricity generation.” OECS Director General Dr. Len Ishmael said that ECERA will maximize economies of scale among OECS participating states in establishing and operationalising a regional policy approach for the development of the electricity sector, enable better use of scarce skilled human resources, and increase the capacity of OECS countries to implement regional arrangements for electricity supply. The World Bank said the Eastern Caribbean Energy Regulatory Authority Programme will specifically carry out the legal and consultative process “leading to the formulation and ratification of the ECERA treaty.” It said it will also define options for ECERA self-financing mechanism, and review tariffs and incentive mechanisms to promote renewable energy. In addition, the World Bank said the aid will fund ECERA’s initial three years of operation, including dayto-day operations and execution of core regulatory tasks, such as tariff and investment plan reviews, and definition of a regional licensing framework for electricity market participants. The OECS Heads of State officially endorsed the creation of ECERA in 2007. The World Bank said it had been collaborating with the OECS Secretariat and consulting with a range of stakeholders and sub-regional governments in assessing the feasibility of ECERA and developing a comprehensive proposal. The World Bank said the first phase of the ECERA programme will launch the process with Grenada and St. Lucia, adding that other OECS members have expressed interest in joining ECERA at a later date. The OECS groups the islands of Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines, Montserrat, St. Kitts and Nevis, Anguilla and the British Virgin Islands. BF

East Winds Inn, located in Labrelotte Bay, St. Lucia, is basking in the sunshine of its recent Green Globe Certification for its sustainable operations and management. Green Globe, the leading certification program for the travel and tourism industry worldwide, has recognised “East Winds Inn’s strong commitment to economic and social sustainability via the genuinely harmonious relationship that has been established between guests and the local community who provide an authentic Caribbean holiday experience.” Mr. Gareth Leach, General Manager of East Winds Inn, said after the award was announced, “Protecting the fauna and flora at East Winds has always been our number one priority. We keep a watchful eye on the many reefs located quite close to our foreshore, which are home to local sea birds and those brief visitors on migratory routes north and south. Nesting turtles at East Winds beach between the months of April to July are a highlight of the year. “During the past twenty years, an outstanding botanic garden has been created within the estate, and great care has been taken to protect all the mature feature trees and mango orchard, which is also home to more than 30 different bird species. “A guide to the East Winds’ gardens has also been published and given to all arriving guests.” Mr. Guido Bauer, CEO of Green Globe Certification said, “Sustainability is based on the triple bottom line for business. As is the case with East Winds, they demonstrate that a consistent and quality approach to customer satisfaction and environmental protection can guarantee both longevity for the business, and an ongoing economic contribution to the important travel destination that is the island nation of St Lucia.” East Winds Inn is regarded as a true Caribbean paradise. One of the oldest and most established resorts in St. Lucia, it’s set among 12 acres of lush tropical gardens, bordered by the golden beachfront of one of the most pristine bays of St. Lucia. This traditional resort boasts an exclusive experience to those who value simple luxury. The hotel is a multiple tourism award winner, based on its excellent guest relations and its care of St. Lucia’s natural environment. In 2011 (so far), it has ranked number six in Trip Advisor’s Top 10 All-Inclusive Hotels in the World, the fourth year in a row that the resort has earned this recognition as one of the world’s premiere holiday experiences. In 2008 and 2009, the Inn was named in Trip Advisor’s Top 100 Luxury Hotels in the World, and is the only hotel from the entire Eastern Caribbean region to earn these honours year to year. Green Globe Certification is the worldwide sustainability system based on internationally-accepted criteria for sustainable operation and management of travel and tourism businesses. Operating under a worldwide license, it is based in California, USA, and is represented in over 83 countries. Green Globe is the only certification brand to be an affiliate member of the UN World Tourism Organization (UNWTO). It is partly owned by the World Travel and Tourism Council (WTTC) and is a member of the Caribbean Alliance for Sustainable Tourism (CAST) governing council. BF

St. Lucia and Grenada to Benefit from

BusinessFocus Sept / Oct

Invasive Seaweed Threatens Fishermen

Marine experts have identified both good and bad in a new phenomenon of floating seaweed affecting the Windward Islands. Some say it threatens the fishing industry and can thus widely affect the lives of the islands’ fishermen. But others say it has economic and agricultural use that can be exploited by farmers. The seas off Grenada’s eastern and southwestern coasts turned dirt brown in late May, as a rare seaweed invasion choked marine life in the area and threatened to disrupt fishing in Grenada and elsewhere in the Caribbean, prompting a probe by Fisheries officers and marine biologists. The island’s Ministry of Fisheries marine biologist, Crofton Isaac, reported that species of sea slug and shrimp, foreign to the Caribbean Sea, had been seen floating with beds of sargassum; the brown algae that have covered the island’s entire Atlantic coast, home to large numbers of fisher-folk. Experts feared that the marine life associated with the sargassum, a rare visitor to the southern Caribbean, could or would adapt to the region’s environment and disrupt fishing across the region. “We are hoping that they don’t adapt to our environment, because this will have negative impact on the entire fishing industry, not just in Grenada, but the Caribbean,” said Isaac. “This invasion has actually disrupted the fishing industry, because the seaweeds are getting entangled with fishing equipment and has almost shut down the entire fishing sector in St Andrew,” Isaac said. The eastern parish is home to several fishing communities and the island’s second largest town, Grenville. But marine experts see a potential benefit from the seaweed invasion, saying it can be used as a natural fertilizer. Farmers have been reaping sargussum by the truckload for use on farms. The algae are also sold commercially, but Grenada is not one of the countries licensed to conduct the trade. The unusual sight led to speculative conclusions and assumptions in St. Lucia, ranging from claimed evidence of oil in the waters off the island’s north coast to fears that underwater currents and sea bed movements may be signs of a possible major volcano or tsunami. The preponderance of the invasive seaweed has diminished in recent weeks, but marine biologists throughout the Windward Islands have been monitoring its presence and movements to determine what actions to take to avoid or prevent a level of permanence. BF BusinessFocus Sept / Oct

IN THE KNOW

Executive Officer of the Caribbean Breweries Association, Allen Chu-Fook

Caribbean Brewers to Fight Anti-Alcohol Lobby By Denis Scott Chabrol

Caribbean breweries, hoping to win the support of Caricom member nations at the World Health Assembly (WHA), are waging an all-out battle to ensure that ill-effects of alcohol use are not used against the billion-dollar industry. Executive Officer of the Caribbean Breweries Association, Allen Chu-Fook said that although the anti-alcohol lobby was not yet impacting adversely on the Caribbean, the regional industry was preparing to respond to calls for “very harsh and severe treatment.” Chu-Fook explained that efforts are underway to formulate a framework convention that would include banning all advertisements and restricting trade. Similar steps have been taken against tobacco products. “So what the brewing industry and indeed the wider alcohol producers are doing is to work with the WHO (World BusinessFocus Sept / Oct

Health Organisation) to have some say in the policy decisions that are being taken so as to head off any harsher and strict treatment of our products.” Regional producers of rum, beer and other alcoholic drinks have already been debunking arguments that the consumption of those products is costing countries too much to deal with related non-communicable diseases and accidents caused by driving under the influence of alcohol. “We recognise that the abuse of alcohol is not an acceptable behaviour and we will work with the WHA or WHO to formulate policies based on a proven fact to mitigate against abuse,” said Chu-Fook. Among the steps to be taken include controlling advertisements so that mature persons rather than youths are targeted to facilitate rational decisions. “The moderate use of alcohol is not harmful to health.”

He said significant progress has been made by taking advantage of the number of Caribbean countries in the WHA where they could hold sway in voting and policymaking. The Executive Officer of the Caribbean Brewers Association was among several delegates who attended a two-day technical conference of the organisation. The event was held at Banks DIH’s Thirst Park Complex in Georgetown, Guyana. Agenda items included bottling line efficiency, efficient brewing, yeast management and sanitation, and general standards. Caribbean Breweries Association member countries are Bahamas, Barbados, Belize, Cayman Islands, Jamaica, Grenada, Haiti, St. Vincent, St. Lucia, Netherlands, Suriname, Trinidad and Tobago, Dominica, Antigua, Dominican Republic, and Guyana. BF

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BusinessFocus Sept / Oct

IN THE KNOW

“Get Creative to Survive” Electrical Industries Ltd. CEO to Manufacturers approval for various aspects of their operations—Customs, the Bureau of Standards—can be challenging.

Krishna Ramlogan, Chief Operating Officer, Electrical Industries Ltd (EIL)

Caribbean manufacturers must find creative ways to overcome the challenges that they face. “Some of those things are within our control and some are not; they are government-related,” said Krishna Ramlogan, Chief Operating Officer, Electrical Industries Ltd (EIL). He was speaking at a seminar entitled, ‘Overcoming Challenges for Caribbean Manufacturers,’ at the Caribbean Investment Forum (CIF) at the Trinidad Hilton. Ramlogan said the small size of the region makes the lives of manufacturers difficult. “The challenges affecting manufacturers in the Caribbean are, firstly, economies of scale and small markets, together with import competition. The investment size and economy of plant relate to economies of scale. If you do a small plant, you don’t have economies of scale opportunities and cost of production,” he said. The overall focus of manufacturing as a driver of the economy is an area that Caribbean governments need to look at, Ramlogan said. “The Government needs to look at logistics and supply chain issues. It also needs to look at the support for the sector, in the Jamaican case and in T&T, where manufacturing is less than ten per cent of growth domestic product (GDP).” Ramlogan said dealing with government agencies from which manufacturers seek BusinessFocus Sept / Oct

Survivors and competition Ramlogan used EIL as an example of a Caribbean company that has overcome many challenges which are peculiar to the region. EIL is involved in the manufacturing of electrical cables, lighting and PVC products. The range of products includes wire and cables, PVC pipes, buckets, tanks and packaging in ten Caribbean islands. According to Ramlogan, EIL has grown significantly, even during the economic recession. “So how have we overcome these challenges? We have had some of our best years in the last two years and we have grown the size of our business two times the size it was in 2008. Businesses that survive are the ones that are competitive. “A competitive manufacturer is what will ensure survival,” he said. “This will determine your security of market and ultimately that is the golden rule. I think this goes to the heart of the manufacturing sector and what we should and should not be focused on. Are we looking at production and technology for products that are 20 years old and we have not invested in our plants and equipment, but still expected to be protected from manufacturers in China that are doing things at a fraction of the cost we are?” Pushing productivity Ramlogan said that productivity needs to be raised to ensure competitiveness. “Productivity is important. What is our labour force size? What are we doing to promote productivity? Those are some of the specific issues.” EIL employed five strategies to survive and stay competitive: 1. They employed more technology and upgraded their plants. “First thing we did along those lines is used technology and upgraded our plants during the period 2005 to 2007. A lot of other companies have done that as well, but they did that in anticipation of doubling

market size, significant growth and going into other markets which they did not match with those capacities. Investing in technology is important if you are building capacity. Then you also need to marry that with others things.” 2: They sought out new markets. “We also had a programme in terms of compliance standards. It has positioned us to go into markets, both in the Caribbean and outside as well. We made a deliberate thrust to grow markets, so when the recession hit, we found new markets to grow our business.” 3: They cut costs to be more efficient. “We went on a cost reduction programme and made the business lean and mean. A lot of manufacturers and companies do this during difficult times. I think more companies should be doing this, even when times are good and have the very best production model possible. We moved from stock-for-order manufacturers to made-to-order manufacturers. We are dealing with products like copper and PVC, and we felt that we should not be carrying that risk and exposure and that our distributors should do that instead.” 4: They applied a scorecard methodology. “In terms of management architecture, we found that by focusing on our execution strategy, we set deliberate targets for the business and there was a lot more delivery. We institutionalised the structure of the business, we had the right people on the bus, a focus on human capital and development and continuous learning.” 5. The company went on an acquisition drive. “We also decided we wanted to grow by acquisitions. We saw that we would diversify our risks, we would create synergies and generate security in terms of size and funds and strength in the marketplace, and so we went from Trinidad Cable to Electrical Industries Ltd, then we acquired Century Eslon Ltd Williams Group. Apart from acquisitions, you can cluster by corporations or joint ventures. There are ways to create value and size.” BF Courtesy: Business Guardian

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BusinessFocus Sept / Oct

IN THE KNOW

Family Governance: Towards More Defined Bodies By Annette Rahael

GOVERNANCE STRUCTURE

FAMILY

OWNERS

Family Forum

Board of Directors

Family Council

BUSINESS

All organisations need proper governance to set direction and policy and to ensure oversight of same. In businesses, this usually translates into a Board of Directors, the composition of which is a matter of public record. Family businesses, though, require an additional layer of governance that is often omitted and is at the very crux of proper functioning for these hybrid organisations. A family business (FB) is a blending of systems and must allow for the influence of the family on the business and vice versa. If not, then there is the risk of the family being predominant—the so called family first businesses where family considerations trump all decisions with the attendant negative consequences for the business. Alternatively, if only business considerations prevail, then the family might become increasingly disconnected from the company and that dilution of family devotion and influence could also result in business contraction. Family business owners grapple with that struggle regularly and are often at a loss as to how to reconcile family desires with business demands. The business must have empowered professional BusinessFocus Sept / Oct

management in place if it is to grow and the owning family’s needs for recognition and involvement must be honoured. Managing Boundaries Well-enacted governance structures help to provide some solutions. The diagram on this page lists the collective bodies by which family-owned businesses (FBs) can seek to fulfil the basic definition of governance to which I subscribe “as the right people discussing the right things in the right place at the right time.” It is a way of managing the boundaries between the systems without isolating one from the other. Often, the word boundary conjures up dividing lines upon which neither side must tread, for fear of igniting a major incident. Good FB governance is a way to allow controlled flow among all concerned while maintaining the integrity of each subsystem. A management team must be given authority but should not act in discord with the owning family’s values. A board of directors sets policy and direction within the parameters of the family’s wishes.In a family business where the family’s identity and livelihood are so intricately bound to

the business, there must be a place where family members define and coordinate their involvement in the company without excessive and messy spilling into the other domains. This introduces an additional level of governance that is not pertinent to publicly held corporations. It is family governance whereby the family sets policy and direction for its members as they interact with the business. A family council and a family forum or family assembly—is a formal mechanism that sets out the principles which dictate shareholder rights and responsibilities and governs the interaction between family members and the business. The preservation and inculcation of the family values, the formalisation of the family mission, the definition of acceptable risk, the mechanisms for asset protection and growth, the resolution of family conflicts, the establishment of clear guidelines for family involvement in the business, the mentoring and development of next generation leaders, are, inter alia, some of the aims of family governance. The family assembly includes active (working in the business), passive and future shareholders.

Family Assembly In smaller families, these two groups may be collapsed into one so that the family council incorporates all members of the family and doubles as the family assembly. However, by the time a family business has progressed to third and sometimes even second generations, it becomes more useful and productive to have separate gatherings. In most families there is a level of commonality and often we recognise related members of a family not only by bodily features but by their individual and joint enactment of what we may identify as family characteristics. In a business family, rules and roles need to be formally established and clearly delineated and accepted by all. It is this additional layer of governance in family businesses which, if well executed, forestalls family issues which often derail the proper functioning of the business. The Family Council The family council is responsible for setting the standards for family interaction with the business. It is the bridge between the business and the family. Its role is to keep the family in the loop with respect

to what is happening in the business and to inform those in the business about the family’s goals and expectations for the business. It is responsible for securing the family’s interest without undue disruption to the business. The family council organises the family forum at which the wider family is educated and enlightened as to their individual and collective roles as members of a business owning family. Brewing Discontent The family council also performs a critical task of working towards family harmony by organising family events and serving as mediator for family conflicts. A productive family council will undertake to be ever vigilant for the hint of brewing discontent which could lead to such havoc in business families. I continue to hear stories of how big family businesses were wrecked and families pulled apart because one shareholder felt that his son was more entitled to a particular and often measly perk than was his nephew; or that his wife be granted better privileges in the business than his shareholder sister’s husband because his wife carries the family name. These are sad and expensive

scenarios; sad, because family is the foundation of society; expensive because family businesses contribute so heavily to a country’s economy. In families where there is good communication and a willingness to tackle emotional issues, there sometimes exists an informal council which may agree on certain principles regarding the business and the family. These are seldom, if ever recorded and fully disseminated, and function as an unwritten agreement among a few. Moreover, the issues considered are often not as far-reaching as necessary, leaving gaps which become chasms when a difficult situation arises. It is recommended that the family council be formally constituted and be the initiator and the guardian of the family policies duly documented in a Family Charter or Family Plan or Family Constitution, as it is interchangeably labelled. BF About the Author Annette Rahael is a Family Business Adviser. She can be contacted at: annetterahael@ gmail.com

BusinessFocus Sept / Oct

IN THE KNOW

AGEMATTERS By Faithaline Hippolyte

Does the age of your employees matter? According to the preliminary results of the St. Lucia Population and Housing Census 2010, approximately 41% of the employed population range in age from 15 to 34 years old, and more than a third of these are less than 25 years old. Chances are that there may be an even higher percentage of young workers at your company. After spending time, effort and money to gain so many young workers, is it worth your while to look into strategies to help you to keep them, and to help them thrive on the job? Let’s take a look at some of characteristics of these young workers, and what you can do to increase their job satisfaction, productivity and retention. • Young workers want to contribute, so give them the opportunity. Let them have a say in the decisions that affect their work, and create a culture that allows them to speak freely without fear of retaliation. Actively seek their feedback and suggestions about possible changes in the company, and act on their ideas whenever it is feasible. Also instead of trying to silence their questions, encourage them to ask questions and take the time to give them explanations about company strategies and the big picture. Any increase in their knowledge will be to the benefit of your company. • These workers want to see results, so BusinessFocus Sept / Oct

share the company’s progress on various projects with them, and especially the steps the company has taken as a result of their feedback—and do this on a regular basis. • They want to have a work/life balance and the time to pursue other activities, so meet them half way on this issue: offer flexible scheduling, leave of absence, and telecommuting where possible. • This age group learns best by doing, so ensure that training sessions are not just about lecturing, but that they get the opportunity to have a hands-on training experience and to practice the new skills that they are taught. • This age group welcomes added responsibility, so go ahead and delegate tasks to them, and whilst you’re at it, provide them with continuous constructive feedback as to how they’re doing – they’ll thank you for it. Also, if you can’t provide upward movement within the company, then provide lateral movements. Give them the opportunity to learn new things, and to take on the challenge of increased responsibility. • Young persons thrive on technology, so encourage such an environment at work with which they are familiar. Consider the use of blogs and social networking groups through which employees can access company news, do networking

and share information; why not get company information to them via text messages; and give them easy access to computer kiosks at work where they can look up company policies, their own vacation balances etc. • Persons in this age group have expectations of advancing in the company. Manage their expectations by identifying their career paths and the steps and skills required to advance. Also provide career coaching and developmental support. • This generation values performance above tenure, so try to strike a balance between the two, and show by your compensation and rewards that your organisation also places emphasis on performance and results generation and not just length of service. Organisations that thrive are those that recognise the characteristics and values of this large portion of the labour pool, and find ways to make work meaningful to them, thereby improving job satisfaction, productivity and retention rates. BF About the Author Faithaline Hippolyte is a freelance writer. She holds a B.Sc. degree in Management Studies, and is a Certified Senior Professional in Human Resources.

Setting the Right Tone By Betty Combie

Leadership plays a vital role in any effort to improve the quality of a business system. It is about setting the right tone. By this I mean creating an environment that encourages employees to be committed and get involved. As a business leader, how do you set that tone?

Be an Example

First and foremost, you must model the actions and attitudes that you expect of your employees. For example, treat your employees the way you want them to treat your customers. I am reminded of a contribution by a training participant. He said leadership is about ensuring that, ‘your video is in sync with your audio’. It seemed so relevant in this technological age.

Communicate

Promote effective and two-way communi-

cation vertically and horizontally throughout the company. In particular, share the vision and goals of the company with all employees. Employees need to understand their contribution towards achieving these goals and vision.

Develop Employees

We all have strengths and weaknesses. However, there is a tendency to focus on employees’ weaknesses. Instead, recognize and capitalise on your employees’ strengths. Remember, ‘real management is about developing people through work.’

Build a Team

Foster teamwork. I especially like the definition of ‘team’ that reads: “a group of people working together to achieve a common purpose for which they hold themselves mutually accountable.” Note that in an effective team there are two critical

roles - the leader and the facilitator. The facilitator’s role includes observing and positively influencing the interactions among team members. Some leaders are equipped to take on both roles. Many leaders are not. So finally, I put it to you as a business leader: How well are you setting the right tone? I dare you: Ask your employees. BF About the Author Betty Combie is a Quality Systems Trainer with an MA in Educational Measurement and Evaluation and is PMP certified. She is the former Head of the Certification Department of the St. Lucia Bureau of Standards. She possesses achievement certificates in Managing Quality for Business Improvement, ISO 9001 (Quality Management Systems) Lead Auditor and ISO 14001 (Environmental Management Systems) Lead Auditor. Contact her at bcombie2000@yahoo.com

BusinessFocus Sept / Oct

IN THE KNOW

By Pilaiye Cenac

It’s not personal. It’s not that the CFO and/or the CEO don’t like your ideas; it’s just that they don’t trust that this money you’re requesting to do ‘some marketing’ will return any revenue. They control the purse strings, and they think that the marketing effort amounts to just that – an effort! Nothing comes out of it. The Fournaise Marketing Group, a UKbased marketing company, surveyed 600 CEOs from across the globe, and found that 73% of those CEOs thought marketers lacked credibility. Robert Craven, ‘The Entrepreneurs’ Guru,’ spoke to a number of accountants and got responses such as: • “I can tell you that marketing doesn’t work for us so we try not to do any.” • “We don’t want to do any marketing even if it is free! We are focusing on cutting costs.” Hmmm? Quite worrisome. It’s up to marketers to address these perceptions. Here are nine common mistakes marketers make, and should try to overcome to gain credibility in the world of business: 1. They don’t speak THE language: CFOs and CEOs speak the language of marketing ROI, profitability, market share. Marketers must consider marketing measures and performance targets aligned with those of the organization. Marketers must realise that they will always be required to justify the use of the company’s resources. 2. They neglect to include the entire organisation in marketing: Some have argued that every employee must be a marketer, and based on this BusinessFocus Sept / Oct

view marketing cannot operate as a disconnected department. Internal marketing is important in terms of getting employee buy-in. 3. They assume that they need a big budget to market: There are creative ways of reaching customers, so a hefty marketing budget is not always a necessity. The traditional methods, such as advertising, are not the only ways to get the word out there. 4. Poor targeting: Companies cannot provide all things to all people, and trying to do so only wastes resources. It is also wasteful to reach out to groups of customers that are not interested in the companies’ offering. Segmentation and accurate targeting are important. 5. They don’t identify and/or communicate points of difference: The companies’ products and services must be unique in some way; there must be a reason to choose one company’s products and services above another. Marketers must clearly communicate their points of difference to the target market. 6. They don’t keep track of information concerning customers, competitors, and the environment: It is not enough to take a wild guess or use observations of a few events to make big decisions. Marketers must access reliable information to justify their plan of action. They must be aware of what their competitors are up to, what their customers think and how the wider environment is changing.

7. Haphazard marketing: It is ineffective and inefficient to use marketing tools in an unstructured way. Purposeful marketing should be a marketer’s goal. Marketers must have a clear idea of where the organisation wants to go and use tools and techniques in a consistent manner to steer it in that direction. 8. They copy the competitor: Some marketers merely follow the competitor; their only approach is a ‘Me Too’ strategy. Customers are left thinking that there is no point of difference. 9. They ignore existing customers to pursue potentials: It costs five times more to attract a new customer than it is to engage an existing one. Furthermore, repeat customers generate 80% of a company’s business. A customer base is a valuable resource and marketers must see the benefit in building relationships with existing customers. Marketers must maintain a connection with old customers to avoid high attrition rates. Marketing mistakes can be costly, and may have long-term repercussions. Every effort must be made to avoid the blunders above. BF About the Author Pilaiye Cenac is an entrepreneur. Her qualifications include a BSc in Psychology and Sociology and MSc in Marketing. She is also a PMP® and a published writer. One of her companies, In Tandem, focuses on low cost approaches to enriching the customer experience.

Australian Institute of Business: One Year Old in St. Lucia The Australian Institute of Business, formerly known as Gibaran Learning Group opened its doors of opportunity here in St. Lucia in September 2010, enrolling 15 students into its first Masters in Business Administration cohort. In January 2011, a second Masters cohort joined the ranks, and in August and September respectively a Bachelors in Business Administration cohort and yet another Masters in Business Administration cohort is expected to commence. The seeming success of the programme thus far, is essentially a result of dedicated students and faculty. AIB has very specific requirements for acceptance into the programme and even more specific guidelines on how the program should be run. Two such idiosyncrasies are the horse shoe classroom style and the maintenance of very small numbers in each class. But has the programme been faithful to the promises made in their marketing campaign and are students satisfied? A few AIB Masters students have spoken out: Crissy Laurent/Student Challenging but do-able; a great way to

network and share ideas and information with professionals from diverse backgrounds. Louenda St. Croix/Student I would encourage any one currently in a management position or aspiring to undertake this. However the issue is one of total commitment, enthusiasm and sacrifice. You must want the qualification to provide the commitment. It also calls for a support system as you cannot do it alone, especially if you have kids. The class schedules and time to study are imperative for success and you need support to do this. Also organisation commitment helps! Anonymous This course has provided a wealth of knowledge for me as it covers all areas of the organization: HR, Finance, Leadership, Marketing etc. It has provided me with a new perspective and I am able to make a more informed and meaningful contribution to the team!!! Lindsey Joseph/Student The AIB’s work applied learning approach is indeed mind broadening and has inspired

change and brings new perspectives. It is a challenging course and trying to achieve the work, study, family life balance adds to this challenge. Selena Charles/Student The MBA offered by Gibran, is an excellent one-year distance learning interactive programme, which enables me to enhance my professional career whilst maintaining full time employment and domestic duties. The programme has employed a variety of modern teaching methodologies which has stimulated my thinking and learning. Moreover, constant dialogue with my classmates of different professional disciplines has further enriched this MBA experience. The Bachelors programme commenced on August 20th and the Masters programme is set to begin on September 24th. Late admission goes up to three months for each programme. For more information, contact NRDF, Miss Nesa Constantine Programme Coordinator, at 724-7722.

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BusinessFocus Sept / Oct

IN THE KNOW

How Often Is The Customer

Right? By Sir Richard Branson

What to do when an angry customer calls and asks, unreasonably, that your company redo his costly order? If you are an entrepreneur launching your first venture, you might be tempted to fall back on the common misconception that “the customer is always right,” and make a decision that will pull funds from your hard-earned war chest. But, in my experience, going along with the crowd is rarely a good choice. The expression about customers’ infallibility was coined in the early 1900s by Henry Gordon Selfridge, the founder of the eponymous London department store. It has endured because it sounds wonderful to marketers, but most established companies have learned from experience that it is too all-encompassing to apply in everyday business. In truth, the customer is only right most of the time; after all, they’re only human. In fact, as I wrote recently in this column, since your employees are your brand ambassadors, their needs should come before your customers’. That does not mean that your customers’ opinions aren’t important. But you should not build your customer service system on the premise that your organisation will never question the whims of your clients. No matter how well you run your company, there are always going to be a few chronically unhappy customers who cost more to maintain than to lose. One of my heroes in the aviation business is Herb Kelleher, the legendary founder of Southwest Airlines. There are many wonderful stories about him; I have always loved the one about the woman who was one of the low-cost carrier’s most frequent fliers, though she constantly complained about the service. The more she flew, the more she complained, until finally, Southwest’s head of customer relations sent one of the woman’s outpourings to Herb, with a BusinessFocus Sept / Oct

despairing note that read, “This one’s for you.” Herb’s response to the customer was brief, “Dear Mrs X, We will miss you. Love, Herb.” No one is sure whether she ever flew with Southwest again, but she never sent them another nasty letter. What’s more, the demoralised customer service staff probably heard this story within hours. The irony is that many entrepreneurs think that they are upping their company’s level of customer service by pursuing a “customer is always right” approach, but they end up doing the opposite, damaging relationships between customers and staff. If you take away your employees’ ability to negotiate on your company’s behalf, some will end up at your customers’ beck and call; even when they know of a better way to resolve a dispute. This is an especially important issue for entrepreneurs introducing an innovative product or service to a market. Since creativity and game-changing innovation are two of Virgin’s most important brand values, we are aware of the risks involved. One is that no matter how dissatisfied some people may be with the product or service they are using, change is anathema to them. If you are introducing something that’s radically different, it’s important not to confuse these reflexively negative reactions to change with real rejection. Try to prepare your customer service staff for what’s coming by looking at your offering from the customer’s perspective. Keep in mind that consumer expectations are severely limited by the scope of their past experiences; most customers cannot tell you what they want. When we started Virgin Atlantic Airways, no potential customers ever said that they’d like to see a new airline offering video screens at every seat or on-board massages. Why? Simply because no other airline had ever done so. Will your customers recognise

the product or service you are offering? What problems can you anticipate? When customers start contacting your customer service team, use their feedback and your team’s insights to understand why some customers are having trouble adapting to the change. Look for creative responses and solutions, which may involve anything from an informative marketing campaign to additional technical assistance. The key to providing great customer service is for your management team to recognise the true worth of your frontline staff, the most talented of whom are expert negotiators with deep understanding of interpersonal relationships. Make sure that they have the tools they need to exercise those skills – that they all have the information that they need and the authority to call anyone in the company, and they can work with real autonomy to find fair resolutions to the issues that come up (no scripts!). There is no maxim that sums up our attitude to customer service as neatly as Selfridge’s. Over 40 years of launching new products and services, we have striven to listen very carefully to what our customers think they want and then set about giving them something that is often very different, but always a little better. If your business proposition is innovative, your ultimate goal has to be: “The customer always thinks that we are right.” BF About the Author Sir Richard Branson is the founder of the Virgin Group and companies such as Virgin Atlantic, Virgin America, Virgin Mobile and Virgin Active. He maintains a blog at www. virgin.com /richard-branson/blog. You can follow him on Twitter at twitter.com/ richardbranson.

LIME to Enter Business of ‘Physical’ Security - Pitches Plan at ‘Cloud’ Forum

solutions to the market. Galt advised that the physical security-monitoring service was definitely in the pipeline.

LIME, a regional provider of telecoms services, says that it plans to leverage its technologies and partner with security companies to help regional firms monitor and protect their physical infrastructure. According to Ian Galt, LIME’s Managing Director for Customer Solutions, the new business line has been rolled out in Trinidad and Tobago, where Galt said that state-owned telecoms company in which LIME is a 49 per cent stakeholder is, after 15 months, the leader at that top-end of the security market. But it was not clear when the service will be rolled out in other markets and Jamaica, where he pitched cloud-computing

“We are looking to bring very innovative niche products to the market that, quite frankly, our competitors may be talking about but are not in a position (to deliver),” Galt said in reference to the proposed service. “It is not pie in the sky; it is not a wish list. We are currently doing it in Trinidad.” Explaining the rationale for the new business line, he highlighted the increasing need for firms to be conscious of the security of their operations — not just data, but also “their critical infrastructure.” “Whether it is CCTV cameras on the road, cameras in banks, etc, that is an expensive proposition,” he said. But installing these systems it is not the end of the spending for the company, he explained. They have to manage it and have the capacity to respond to threats. Galt likened this to a company “almost having a separate business geared up in order to run its core business.” LIME will put in critical infrastructure and offer a broad security service to clients. “We will partner with a company like, say, Guardsman, or G4S, since we are not in

the business of men in vans with guns,” said Galt. Such alliances, said the telecoms executive, would then allow LIME “to be able to say to companies that we will not only help you with firewall security, but your physical security as well.” In the meantime, in the area of its core competence, LIME has partnered with four North American-based companies to provide cloud-computing services in the area of videoconferencing, hosted email, network management and monitoring, and remote data storage. A deal with US-based company Terremark, a global provider of IT infrastructure services, will provide LIME with the platform that will be the core of the cloudservices products; network management and monitoring will be offered through Check-Point Software Technologies; hosted email services through Rackspace, of which Galt said, “We went live with our first customer two weeks ago,” while videoconferencing services will be delivered in partnership with BCS Global. “BCS is like a Skype working properly,” said Michelle Atherton, vice-president of BCS Global. BF Courtesy: Jamaica Gleaner

BusinessFocus Sept / Oct

IN THE KNOW

Government and minibus operators in St. Lucia have struck a deal over gas prices and bus fares: a six-month rebate on gas purchases in return for a six-month freeze on fares. But now that the minibus owners have stopped tooting their horns, the island’s petroleum dealers have begun honking theirs. And fishermen are blowing their gaskets. The National Council on Public Transport (NCOPT) and its members had had the government under almost daily pressure for several months, insisting that the constantly rising fuel costs on the basis of the “Pass Through Mechanism” (PTM) at the gas pumps was driving them out of business. The minibus owners and operators, who originally supported the PTM (calculated on the basis of the existing market price for fuel), said later, however, that the escalating cost of gas and the absence of road repairs in many areas, especially since Hurricane Tomas, were causing them unsustainable losses on the country’s roads. Last May, Prime Minister Stephenson King sought to ease the pressure from the operators and drivers by announcing a one-month cap on price increases. He warned, however, that it would not go beyond the four weeks, as the government depended heavily on the revenue from taxes on gas to prop up the Treasury. In June, the government sought to assuage the protesting and complaining minibus operators by allowing only a 25% increase in the cost of gas per gallon of gas, which had moved from just over $3.00 when the last fare increase was granted in 2008 to over $15.00 in June. The minibus operators said they are aware that the average commuter would be unable to BusinessFocus Sept / Oct

sustain a commensurate increase in bus fares, so they instead pleaded for rebates and concessions. The government’s initial offer was rejected by the NCOPT and the Finance Ministry asked the minibus operators to be patient as they undertook the administrative measures to deliver on rebates and concessions promised by government. In mid-June, the government announced it was giving the minibus operators a $2.5 million rebate on six months worth of gas. In return, the NCOPT agreed to freeze fares for the same period. The association said it would meet with its members to decide on how best to make use of the payout. The minibus operators’ demands having been met, however, the petroleum dealers started demanding attention to their outstanding appeals for an increase in their profit margin, which was less than the government got through taxes. The Association’s President, Clinton Charlery, said his members were not against the minibus operators having their demands met, but the gas station owners wanted similar attention and consideration given to their requests for a better profit margin. Petroleum dealers had for long been complaining that their low margins resulted in higher operational costs. They only get $5.92 on every $100.00 of gas sold, while the government gets $3.00 per gallon through taxes. In the first half of July, in the wake of the rebate agreement with NCOPT, the Petroleum Dealers pressed for a meeting with the Prime Minister (who is also Minister of Finance) to discuss their woes. But the gas station owners were not alone. Fishermen were also blowing gaskets about the cost of fueling their outboard

engines. Pressing for the government to address their gas price woes and on Fishermen’s Day (June 29), they let it be known that they too want their fuel cost problems addressed. President of the Castries Fishermen’s Cooperative Society Albert James said rising gas prices were “crippling” the fishing industry because “fishermen have to buy gas at the same regular price to provide the service to the nation, with less pay to take home.” He said, “While fishermen haven’t raised the price of their fish, other sectors with captive markets are getting huge rebates on gas.” He said fishermen island-wide were “crying for help” and would be coming together to approach the government for attention to their cause, “because we are using more gas than the minibus association.” Local fishermen complain that no one seems to understand the nature of their business and the daily sacrifices they have to endure every day at sea to make their product and service available. James explained to BF, “The average daily trip for a fisherman costs between 30 gallons and 75 gallons, which, at today’s prices, can range between $450 and $1,225 per day. Besides, the nature of the fishing trade is more ‘luck-and-chance’ than skill, as there’s no guarantee when leaving shore every day that any fisherman will catch even one fish, far less to make back his gas money. On the other hand,” he continued, “a minibus operator’s fuel expenses can range between $100 and $150 per day, depending on the route. But, unlike the fisherman’s daily uncertainty, the driver has a captive and dependable market. Do the maths and check the difference,” James urged. BF

Nationals Closer To Freedom of Movement Removals on restrictions on the free movement of nationals within the Organization of Eastern Caribbean States (OECS) sub-region is another important mechanism agreed upon by the smaller Caricom member states that is attracting the continuing attention of the larger territories, which have been largely unable to meet deadlines for similar but wider regional integration mechanisms. The larger Caricom member states have not been able to make any significant headway on important regional goals such as the Caricom Single Market and Economy (CSME) and the Caribbean Court of Justice (CCJ). The former has been put on the back burner, while the latter still lacks enough national parliamentary support to become a regional reality. But the OECS has been pursuing its own smaller version of the CSME through an Economic Union that has been agreed to by the majority of member-states, unlike Caricom. Embedded in the OECS Economic Union mechanism is the principle of Freedom of Movement by citizens between member-states and OECS Chairman, Prime Minister of St Lucia, Stephenson King, says the leaders of the smaller island memberstates are committed to seeing it happen. King says the leaders, during a recent meeting in St Vincent, “recognised and unequivocally confirmed” that the free movement of persons and of labour is one of the principal features of the new OECS Economic Union arrangement. “At that meeting, those OECS member states which had not yet enacted the required legislation to give effect to the Revised Treaty gave the undertaking to do so as a matter of priority,” King had said in an address marking the 30th Anniversary of the establishment of the OECS in June. “I therefore assure you, the OECS citizenry, of the absolute commitment of OECS Heads of Government to removing all restrictions to the Free Movement of OECS nationals throughout the Union by August of this year,” King said in his anniversary broadcast

aired across the sub-region. The OECS i n c l u d e s Antigua and Barbuda, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines, Montserrat, St. Kitts and Nevis, Anguilla and the British Virgin Islands. In June 1981, the leaders of seven territories signed the original Treaty of Basseterre establishing the foundation for deepening the integration process within the sub-region. Prime Minister King described their vision as “unmatched” as he praised their plans to pursue a currency union and implement a codified Development Charter through a more integrated governance and institutional framework. “We honour the unmatched foresight and vision demonstrated by these leaders in responding to the exigencies of the day by coming together in a mode of enhanced cooperation and corporate governance that would mobilise and motivate the abundant human energy of the people of our region towards achieving their full potential,” the St. Lucia PM said. Prime Minister King said that in keeping with this principle, a new generation of leaders, responding to the pressing global imperatives and challenges of the 21st century, agreed in 2001, “to further deepen and strengthen the integration process by advancing from the Common Market provisions of the original Treaty of Basseterre towards the Economic Union.” “The time had come to venture beyond the boundaries of the original Treaty into a new development paradigm. This

paradigm has come to be represented by the Revised Treaty of Basseterre establishing the Organisation of Eastern Caribbean States Economic Union, which was signed on 18th June 2010, here in St Lucia,” he said. King said that the provisions of the new treaty seek to upgrade the sub-regional arrangement by creating a single economic space through which capital, goods and people can flow unimpeded. “When fully operationalised, the new arrangement will deliver qualitative improvements in the governance and decision-making structures of the organisation that will serve to bridge the ‘implementation’ and ‘democracy’ deficits that have long plagued the integration movement. “Further to this aim, new institutions, such as the OECS Commission and the OECS Assembly, will serve to lock in mechanisms for greater consultation, collaboration and coordination of regional policies between key stakeholders at the national and regional levels, as well as improve public scrutiny of regional initiatives through the meaningful involvement and engagement of the people’s representatives in Parliament,” King noted. BF

BusinessFocus Sept / Oct

PROFILE FOCUS

New IMF Leaders Appointed With Global Balance in Mind

New IMF Managing Director Christine Lagarde has recommended new appointments that should please both North and South.

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), has proposed new changes in the leadership of the Bretton Woods institution aimed at pleasing and winning support of developed, emerging and developing countries. Creating a new top post to broaden leadership, she has recommended a top aide to President Obama, and a leading Chinese Central Banker, among her four Deputy Managing Directors – a step seen as having been taken with an eye on global economic balance and with balanced international political support in mind. In one of her first moves after her appointment to replace fellow French national Dominique Strauss Kahn, the new IMF chief, a former France Finance Minister, proposed David Lipton, a White House aide, to be the IMF’s First Deputy Managing Director. He will succeed John Lipsky, whose term ended on August 31. She also proposed the appointment of Zhu Min, then Special Advisor to the Managing Director, to the new position of the IMF’s Deputy Managing Director.

international expertise, public sector policy making and private sector experience, and a proven track record in economic crisis management, David brings to the Fund extensive experience in policy-making, excellent communication and negotiating skills, and a very good knowledge of IMF policies and procedures.” Lipton, an American, served before his appointment as Special Assistant to President Obama and Senior Director for International Economic Affairs at the U.S. National Economic Council and U.S. National Security Council at the White House. From 1993 through 1998, Lipton held senior positions at the U.S. Treasury Department, including as Under Secretary for International Affairs. He also served as an economic advisor to the governments of Poland, Russia and Slovenia during their transitions. After graduating from Harvard University in 1982, where he had earned a Ph.D. and a Master’s degree in economics, Lipton served on the staff of the IMF for eight years, working on economic stabilization issues in emerging markets and poor countries.

Zhu Min, the IMF’s Deputy Managing Director, was a key figure in China’s Central Bank who also taught at Johns Hopkins University in the US.

David Lipton, the next First IMF Deputy Managing Director, is a close confidant of President Barack Obama.

Lipton was appointed to serve as a Special Advisor to the Managing Director, starting on July 26, 2011, before assuming his duties as First Deputy Managing Director on September 1, 2011. Announcing Lipton’s selection, Ms. Lagarde said, “Combining BusinessFocus Sept / Oct

Zhu Min, the other new appointee nominated by Lagarde, joined the IMF as a Special Advisor to the Managing Director from the People’s Bank of China in 2010 and assumed duties in the newly created Deputy Managing Director position on July 26, 2011, working with the other three Deputy Managing Directors in support of the Managing Director. “Zhu Min brings a wealth of experience in government, international policy making and financial markets, strong managerial and communication skills, as well as an institutional understanding of the Fund, and I look forward to his counsel,” Lagarde said. “As Deputy Managing Director, he will play an important role in working with me and the rest of my management team in meeting the challenges facing our global membership in the period ahead, and in strengthening the Fund’s understanding of Asia and emerging markets more generally.” As Deputy Governor of the People’s Bank of China (China’s

IMF Headquarters, Washington, D.C., USA

Central Bank), Zhu Min was responsible for international affairs, policy research and credit information. Before that, he held various positions at the Bank of China, where he served as Group Executive Vice President responsible for finance and treasury, risk management, internal control, legal and compliance, and strategy and research. Zhu Min also worked at the World Bank for six years and taught economics at both Johns Hopkins University (USA) and Fudan University in China.

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Luis Breuer, the new IMF Director for the Caribbean, has already held his first meeting with Jamaican Government Officials.

Meanwhile, the new IMF Director for the Caribbean has been named as Luis Breuer, a Latin American national with much private sector experience. Mr. Breuer, who’s already on the job, in mid July paid his first visit to Jamaica, where he held meetings with Finance Minister Audley Shaw. All independent Caribbean nations are members of the IMF and several have ongoing engagements with the Washington-based international financial institution. And like most developing nations too small to exact influence at the decision-making level, Caribbean nations hope Lagarde will steer the IMF in a new direction that will make it less Eurocentric and more understanding of the needs of emerging and developing nations. “I am looking forward to working closely with Zhu Min, David and my other team members,” Lagarde said after nominating them. The Managing Director selects, nominates and appoints the First Deputy Managing Director and Deputy Managing Directors of the Fund. BF

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BusinessFocus Sept / Oct

PROFILE FOCUS

Q: I am a student at California State University, Monterey Bay. Graduation is two years away and already, all my classmates all seem to know what they want to do next. I feel like I am the only one who doesn’t. How did you figure out what you wanted to do as a career? —Trevor, United States A: In 1967, when I quit high school at age 17, I knew what my next project would be: founding Student magazine. But I did not know what I wanted to do in the long term. The headmaster’s parting words to me were, “Congratulations, Branson. I predict that you will either go to prison or become a millionaire.” I am still not sure whether that could be classed as career advice or not, but it did give me the impetus to prove him wrong on the first point. When I set up Student magazine, I wanted to work as a journalist; however, we needed to keep the magazine afloat financially, and soon I had to stop reporting and focus on production and financing instead. I stayed involved in the editorial side by landing some of our most important interviews but, for the most part, during Student’s early days I honed my skills at business, negotiating and management; all of which would later prove useful as we built the Virgin Group. I did not feel confident about my business skills, but I did take up the challenge without hesitation. I made that leap probably because my family instilled in me from an early age a sense of adventure that has served me well. My mother was determined that my sisters and I would become very independent, self-reliant people. She was constantly encouraging us to try new things; always sending us off alone on marathon bike rides and long hikes. Until that point, my personal challenges had always been practical. At school, I had struggled with dyslexia and myopia, and the education system at that time did not recognise learning problems or provide help. So instead of studying, I spent my days dreaming up business plans. During school holidays, I had attempted brief ventures like growing Christmas trees and breeding small Australian parrots. I was also willing to take on the business manager role at Student because I cared deeply about the venture. My friends and BusinessFocus Sept / Oct

For Recent Graduates Many Paths to a Career By Sir Richard Branson

I did not start up the magazine in hopes of making money. My early ventures had taught me that money was only a tool for getting a business going, and that the real reward was doing something fun, creative and positive. I felt that most

media organisations were not concerned about young people and did not look to their interests, and I wanted to make a difference. Three years later, as we started up our record stores, I had the same concerns. I

felt that many companies were asking high prices while distancing themselves from those customers. So we sold records at discounted prices and we tried to make our customers happy and comfortable, rather than pushing them to make their purchases and get out of the store as quickly as possible. We explained what we were doing to anyone who asked. At that time, our business model of offering better value at low prices, welcoming customers and communicating with them frankly was so unusual that it was nearly revolutionary. After Virgin Music and Virgin Records did so well, my ambitions broadened and I began to dream about setting up similarly fresh, fun, competitive ventures in other industries. Our group soon took on many diverse industries, reimagining everything from nightclubs to airlines to mobile phones, all intended for people who embraced our youthful spirit. We worked hard, partied even harder, had fun and made a positive change. Looking back, my team and I were not interested in pursuing particular careers or succeeding in certain industries. We wanted to make a positive difference

in our customers’ lives; we discovered our talents and built our careers while pursuing that goal. I’m proud of where Virgin is today, but I’m even more proud of the journey we took to get here. It was one of discovery and positive action. Today, you and many other young people face the problem of choosing which career path to pursue in a changing world, where the traditional models of business and government are in flux. The rise of the Internet is still constantly opening up new opportunities, and where the West once dominated global markets, a new order is taking shape with the emergence of China, India and Brazil. These changes mean a lot of uncertainty. Rather than try to position yourself for this changing future, use your remaining years at college to assess where your true interests and passions lie, and to look for opportunities to further develop your knowledge and talents. If you love music but can’t carry a tune, use your knowledge of music to promote your favourite band or bring them to your city for a concert. Do not worry if your path ahead is still

not clear when you graduate; careers take many different directions, with unexpected twists and turns along the way. As you enter the workforce, remember to stay alert to all opportunities while remaining focused on your interests, and your passion and knowledge will help you to find your way and succeed. It may take some time, but what a great adventure! As Mary Schmich of The Chicago Tribune wrote in one of her best-known, most quoted columns: “Don’t feel guilty if you don’t know what you want to do with your life. The most interesting people I know didn’t know at 22 what they wanted to do with their lives. Some of the most interesting 40-year-olds I know still don’t.” BF

About the Author Sir Richard Branson is the founder of the Virgin Group and companies such as Virgin Atlantic, Virgin America, Virgin Mobile and Virgin Active. He maintains a blog at www.virgin.com/richard-branson/blog Or you can follow him on Twitter at twitter.com/richardbranson Courtesy: Trinidad Guardian

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BusinessFocus Sept / Oct

PROFILE FOCUS

How TCL Plans to Turn Itself Around Regional Sales Decline Dramatically with Economic Downturn

Trinidad Cement Ltd. suffered through the worst year in its production history in 2010. Chairman of the Claxton Bay, Trindad based group of cement producing companies Andy Bhajan and Group Chief Executive Dr. Rollin Bertrand agree last year was the “most challenging” period for the TCL Group. A few years ago, TCL was riding the wave of a construction boom in Trinidad and Tobago and around the Caribbean. The group was regarded as a steady, if not sure-fire bet on the stock market and TCL’s profits soared. It seemed to have the local and regional markets cornered and was in such a good position that Mexican cement giant Cemex wanted control of it several years ago. No one saw the meltdown coming. In a matter of two years, weak demand brought on by a slide in construction and a worldwide financial crisis, was chipping away at TCL’s business. Domestic sales volume, which generates the bulk of the Group’s profit margin, plummeted by 16 per cent in 2010 compared to 2009, Bhajan notes in the company’s audited financial report for its year ended December 31 last year. Weak demand also meant that revenue fell by $179 million following on the $333 million decline TCL recorded in 2009. TCL’s troubles grew worse, as simultaneously, its inventory increased BusinessFocus Sept / Oct

to what the company called “unsustainable levels” and it was forced to shut down its kilns in Jamaica and Barbados for 40 and 98 days in the third and fourth quarters of the year respectively. In an interview with the Business Express CEO Bertrand admits 2010 was horrendous for TCL and was caused by a “confluence of issues.” A general election in Trinidad in May last year slowed the pace of business and construction and as a new government found its feet, TCL’s revenues declined because of uncertainty in the construction sector. The perfect storm of events around the Caribbean continued to envelop TCL as the Dudus/Manatt Commission of Enquiry in Jamaica eroded investor confidence in that country. At the home of its other production plant in Barbados, TCL had to deal with the fallout to business caused by the death of that country’s Prime Minister David Thompson. “All came together, to impact on TCL,” Bertrand said. The cement group was unsuccessful in an anti-dumping matter in the region and it had to shut down kilns at a time when it had invested heavily to build a new kiln in Jamaica, Bertrand says. The bottom line was that TCL was “bringing new assets into a contracting market and it was struggling with volumes,” Bertrand says. TCL also incurred higher operating costs from increased fuel prices and higher personnel costs for termination and pension benefits. The result was that TCL posted an after tax loss last year of more than $80 million,

down from a profit of $94 million in 2009. Bertrand says the group recognised that revenues were falling for a second consecutive year and took a decision to turn itself around. In August 2010, it ‘re-profiled’ its debt portfolio as much higher debt service payments were becoming due. The debt portfolio had increased significantly because of TCL’s expansion programme, Bertrand pointed out, adding that lenders have indicated their willingness to participate in the re-profiling process. Aside from the strategy with lenders, TCL is now focused on entering new markets, Bertrand says. A contract to supply cement to South America is being negotiated, as well as for Haiti and the French West Indies. There is a tremendous amount of infrastructural work to be done in Haiti and TCL, working with a joint venture partner, can help rebuild the country that was devastated by an earthquake last year, he added. Bertrand and his Chairman believe that TCL can turn itself around as the fundamentals of the Trinidad and Tobago economy pick up. An improvement in the construction sector will also boost TCL’s sales, he says even if the Barbados and Jamaica economic recoveries take longer. Trinidad Cement Ltd. are the principal suppliers of cement to St Lucia and the Caribbean islands. For years they were represented in St Lucia by Renwick & Company Ltd and have recently contracted with Peter & Company Ltd. as their new local agent. BF Courtesy: Trinidad Express

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BUSINESS SPOTLIGHT

CUTTING EDGE TECH INC.

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Trevor Hinkson Entrepreneur

Bennet Raggie Managing Director

The Finest Quality of Home Theatre / Stereo Equipment

Cutting Edge Tech Inc. was established in September 2010 by Bennet Raggie and Trevor Hinkson, to fill a void in the access to top-of-the-line stereo and home theatre equipment locally. They recognised that there had been a death of good sound systems in residences, perhaps because equipment had become a little too costly. However, technology has changed considerably and it is now possible to equip your house with top-of-the-line equipment at a much more affordable price. Despite not having the tools to conduct market research, Raggie and Hinkson came to the conclusion that there must be music aficionados in St. Lucia, and there must be some who are not satisfied where availability of top-of-the-line stereo and home theatre equipment is concerned. There must be some folks in St Lucia who would like to upgrade their furniture, like big speakers to the more appealing bookshelf (wife-friendly) speakers. As a result, the idea came about to set up the first outlet BusinessFocus Sept / Oct

of Cutting Edge Tech at # 4 Manoel Street, Castries (lower Jeremie Street, next to Tropical Shipping). Cutting Edge Tech Inc’s outlet at lower Jeremie Street rightfully claims to house the only living room type setting for displaying and demonstrating stereo and home theatre merchandise. Come sit on our very comfortable couch to savour the sights and sounds - you will be astounded!! Cutting Edge Tech stock equipment such as: Bose, Harmon, Kardon, Jamo, Yamaha, Klipsch, Polkaudio, NHT, Boston Acoustics, Definite Technology, Denon, and Mitsubishi 60” Televisions We have taken the extra step to ensure that we have equipment that pass the ‘wife test’ as we are aware that many wives prefer the bookshelf speakers, to the

bigger floor standing ones. The bookshelf speakers are also are a better fit when the living space is limited. Computers and Accessories Market research was done on the prices and availability of computers and computer accessories in St. Lucia. It was found that we can access and sell at lower prices than previously obtained locally. We work with our trading partners to ensure that we select some of the better name brand products, and also to guarantee that our prices remain among the lowest on island. We currently stock Dell computers, Acer monitors, Biostar Foxcom and ECS motherboards and Western Digital Hard-Drives among others. We also stock items such as hurricane lanterns, torches, remote controllers and cable connecters with diverse applications. We look forward to seeing you at our outlet soon.

Come let us upgrade you!!

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We also sell top of the line Car Stereos. Also available are Computers and Computer Accessories Battery Operated G E Hurricane Lamps with Replaceable Bulbs

Visit us today @ the corner of Manoel Street and lower Jeremie Street next to Tropical Shipping or call us @ (758) 453-2255

BUSINESS SPOTLIGHT

Chamber Outlines Priorities Elections, VAT, Good Governance and Halting the Slide in Business Rankings!

The St. Lucia Chamber of Commerce, the island’s oldest and largest private sector organisation, wants the government to halt the slide in the island’s business rankings, engage in Good Governance practices, start preparing the nation for Value Added Tax (VAT), address the crime situation and fix the nation’s water problem. Those were the main features in the report to the Chamber’s First Quarterly General Meeting for the year, which took place mid-year in June at the NIC Conference Centre in Castries. In the absence of President Chester Hinkson, Vice President Gerard Bergasse reported on developments since the Chamber’s last Annual General Meeting in November 2010 and a retreat held by board members in January 2011, where directors also discussed increasing their own roles in the organisation’s development. Among several “priority areas of advocacy” identified by the directors were Governance, Law and Order, Unemployment and Poverty Alleviation, Education and Post-Tomas recovery. Reporting on the state of the island’s reputation as a place to do business in the world, Bergasse noted that the island’s rankings had decreased “from among the top 30, to the 60th.” He said it was “an indictment of the government departments” with which businesses have to interact and called on the St. Lucia Government to “take early action” to reverse that slide. Bergasse also spoke of the Chamber’s concerns about “good governance.” He said the Chamber supported continuing efforts towards legal and constitutional reform and urged that all government meaBusinessFocus Sept / Oct

sures in that regard “should be based on transparency and accountability.” He said measures and steps taken by the government should follow “not just the letter, but also the spirit of the law.” He said the Chamber also encouraged “ethical business practices” and including such elements as “annual NIC (National Insurance) certificate of good standing” in the structure of Good Governance. The Chamber Vice President also called for the St. Lucia Parliament’s Public Accounts Committee to be activated and made to function and for all parliamentarians to “pay their taxes and don’t appear to be unscrupulous.” To this end, Bergasse indicated the Chamber would be seeking to promote and execute “a workshop on Good Governance” in the not-too-distant future, in which interested parties will be invited to participate. With the island’s next general elections also already in the air when he spoke, the Chamber Vice President said the grouping was also concerned about the upcoming poll and, as usual, “will also talk to both parties about their policies and plans as the elections get nearer.” Also looking ahead at the government’s promise that VAT will be implemented in the first quarter of 2012 – no matter which government – Bergasse called on the government “to start preparing for April.” He also urged that the government gives the business community “early enough signals of the mechanism to be used for its implementation.” The Chamber VP said, “a VAT Resource Centre would be helpful” to businesses

ahead of implementation of the new tax and called for consideration of its establishment. Regarding law and order, Bergasse reported the Chamber had pledged over $20,000 to the island’s battle against crime. It had also invited the Commissioner of Police to address an executive luncheon, followed by several meetings to share information with the police high command on the concerns of the local business community. Bergasse said the Chamber was concerned about the increasing murder rate, but also about the increasing number of killings by the police. Regarding water, Bergasse noted the effects of drought following last year’s hurricane and reiterated that water problems continue to affect businesses islandwide, especially since Tomas. He said, “not enough attention” is being paid to WASCO (the national water company) and lamented that there was “not any government strategy to take WASCO to the next level.” The VP therefore called on government to invest more into the sector. The meeting discussed a draft paper on the island’s fuel pricing problems that was circulated at the meeting, in which it called on the government to lower the tax on fuel, even slightly, even though the Chamber maintained its support of the Pass Through mechanism that sets pump prices according to world market prices. Bergasse said, however, that while the Chamber supported calls for subsidising public transport, that had to be selective and “not across the board.” BF

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BusinessFocus Sept / Oct

BUSINESS SPOTLIGHT

Stats for Biz Director of Statistics addresses Chamber of

Commerce on Findings of 2011 National Census St. Lucia’s Director of Statistics, Edwin St. Catherine, addressed the mid-year Quarterly General Meeting of the St. Lucia Chamber of Commerce, Industry and Agriculture in June, during which he provided statistics to help businesses better understand how population changes and other statistics collected can help them better plan for the months and years ahead. In charge of government statistics since 1993, and also a consultant with both the

World Bank and the Caribbean Development Bank (CDB), St. Catherine led the latest national population census in 2010, a decade after the previous one in 2001. Acknowledging that, “while statistics bore others, it doesn’t bore me at all”, St. Catherine updated the representatives of the local business community on the national enumeration exercise, and explained that the national exercise brought 93% of persons on the island under the count, with

the other 7% inaccessible for various reasons. Before revealing the new figures and analysing the trends, St Catherine appealed to the Chamber’s members to be more readily available and willing to provide statistics on their businesses. He pointed out that too many are unwilling and too many don’t submit statistics and warned that “insufficient data can lead to and result in bad estimates.”

Using a power-point presentation to guide listeners through the mass of figures, the Director of Statistics pointed out the following:

FIGURES • • • • • • • • • • • • • • • • • • • •

Total Population: Total Number of Households: Unemployment Rate: Total Number of Persons Unemployed: Youth Unemployment Rate: Total Size of Labour Force: Average Annual Income per worker: Total Number of Persons Employed Nationally by Private and Public Sectors: Total Number of Persons Employed by Private Companies: Total Number of Private Sector Business Owners and Operators: Total Number of Persons Employed by Non-Government Organizations: Total Number of Persons Not Employed in Private Sector: Total Percentage of Persons Employed by Private Sector: Total Percentage of Persons Employed by Public Sector: Total Percentage of Persons Employed in Agriculture: Total Number of Persons Self Employed With Paid Employees: Total Number of Persons Self Employed Without Paid Employees: Total Number of Informal Business Owners Without Paid Employees: Total number of Women Seeking Opportunities Abroad: Total number of Men Seeking Opportunities Abroad:

BusinessFocus Sept / Oct

166,52 58,000 20.6% 17,606 34% 80,000 $2,169 67,701 52,000 12,000 3,701 36,000 77% 21% 2% 1,307 518 11,573 8,400 7,700

TRENDS In terms of trends, the 2011 National Census revealed that:

• Unemployment is increasing (up from 18.5% in 2001) • Population growth rate declined (from 18% in 2001 to 5% in 2010) • The Castries population grew by only 2% • The largest population group is aged between 10 and 24 • While population growth decreased, the number of elderly persons increased • Urban population is more female • The workforce has less women • More women travel abroad to seek opportunities than men • Business ownership is male dominated • Most business owners per capita live in Gros Islet • A decline in pre-school and primary school population

• Increase in demand for secondary and tertiary education • Housing increased by 23% since 2001 • The number of persons per household decreased (from 3.2 in 2001 to 2.1 in 2010) • Half of all households have a computer that works • Half of all households with a working computer have access to the internet • More people are accessing smart phones • Women are better (cell phone) connected than men • Education levels have improved (with 1 of every 25 students having access to university) • ICT, real estate and professional services drew more interest than agriculture • ICT not as productive as other professional service industries • ICT services attract the best pay, followed by financial and insur ance services • More persons over 65 years old are seeking employment. BF

BusinessFocus Sept / Oct

BUSINESS SPOTLIGHT

Car Care Tips Volume 4

Is this issue, we continue to look at batteries. Unfortunately, your car battery will not last forever and will have to be replaced at some point. Often it will fail at the most inconvenient time, so knowing how to deal with a battery that won’t start is a must for every car driver.

How to Jump Start Your Battery:

1. If possible, bring two cars together nose to nose, about 18” apart. Be sure you’re parked well away from traffic. Make sure both cars have their parking brakes on, and that your transmission is in park (or neutral in the case of a manual transmission). Make sure your parking brake is engaged. 2. Determine which terminals are positive and negative on both batteries. Look for a “+” sign or red indicator for positive, and a “-” sign or black indicator for negative. The positive terminal is usually wider than the negative. Caution: Once you begin the next steps, do not touch the metal portion of the jumper cable clamps to each other or any part of the car except the proper battery terminal. 1. The jumper cables are marked with colours or stripes to help you keep track of the two separate wires. Attach one end of the positive cable clamp to the positive terminal of the dead battery (the positive cable may have a stripe, or if the cables are marked with red and black, the red cable is positive). 2. Attach the other end of the positive cable to the positive terminal of the good battery. 3. Attach one end of the negative cable to the negative terminal of the good battery. YOUR CABLES ARE NOW LIVE! DO NOT TOUCH THE REMAINING CABLE CLAMP METAL PORTION TO YOURSELF OR ANY PART OF THE CAR EXCEPT THE NEGATIVE TERMINAL OF THE DEAD BATTERY 4. Attach the other end of the negative cable to a metal section (bracket, block, etc.) of the engine away from any moving parts (CAUTION: belts and pulleys can be dangerous). Connecting this cable last, and away from the battery, will avoid sparks and potential hazards at the battery. 5. Make certain everyone is clear of the engine compartments - don’t allow hands or clothing to be caught by moving engine parts. 6. Start the engine of the good car. Allow it to run for 1-2 minutes. Rev the engine slightly by pressing on the gas pedal lightly. 7. Start the engine of the dead car. It may take more than one try, but do not try to restart it more than three or four times. Caution: Some cars’ electrical and computer systems may be damaged by running the engine with a dead battery. Check your owner’s manual or service provider for guidance.

If the car still won’t start: If the dead car gets no “click” when you turn the key, the booster cables may not have a good connection at the terminals. Turn off the engine and try rocking the cable clamps back and forth to get the clamps to dig into the terminals. Or, try another ground point to attach the negative cables. If the engine still won’t start, allow the good car to run for 5-10 minutes while hooked up to the dead car. Rev the engine slightly. This may build a charge in the dead battery and allow you to restart. If these steps do not work after three or four more tries, stop trying to jump-start. The battery may be shorted internally, or the dead car may have other electrical problems besides the battery. Continuing to try to jump-start can cause damage to the electrical system. Have the car towed to Automotive Art for service. BusinessFocus Sept / Oct

BUSINESS SPOTLIGHT

Farmers Credit Union Expands Northward with Eyes on Reaping Growing Dividends for Members The National Farmers and General Workers Cooperative Credit Union Limited (NF&GWCCU) and affiliated groups island-wide have taken another major step – opening a new branch of their relatively young organisation. It already had offices in Castries and Vieux Fort, and now it has moved into a prime northern location, at Orange Park Commercial Centre, Bois D’Orange, Gros Islet, to better serve the fastest growing part of the island, which is also home to a large farming community. Farmers have always been the major plank of St. Lucia’s economic fabric. From sugar cane to bananas, they have always been the major bedrock on which the national economic foundation was based. Today, many are experimenting with new and other products with added market value, ranging from aquaculture to horticulture. But it is not only on the farm that they are breaking new ground. They needed a financial institution of their own to promote the economic development of farming communities, so, 17 years ago, they went the credit union route, which allowed them to combine their economic clout with all the possibilities that it allows. The NF&GWCCU was established in 1994 and registered on December 6th 1995, after farmers decided they needed more than just a trade union or members’ association to take care of their interests. Mr. Sylvanus Fontenard, a son of Choiseul, committed to opening new avenues for the island’s farming community, pioneered the transition from the National Farmers Association (NFA) to the NF&GWCCU. Today, under the leadership of Julius Polius, an experienced agricultural administrator who also served in the highest positions at the island’s Ministry of Agriculture before retirement, the NF&GWCCU aims to grow and better serve and benefit its members. “What we are is a viable alternative to the banks with a special smaller pool, with micro finance on the front burner. All we need is a little more tweaking to ensure we can get to the stage of our counterpart credit unions in Asia and Africa,” Polius told BF. BusinessFocus Sept / Oct

Julius Polius - Chairman

“Further,” he added, “our customers are also our members and shareholders, so this is also a good, logical move.” Polius sees the NF&GWCCU engaging in “partnership with other local and regional credit unions,” especially as the credit unions across the OECS region have now been put under the regulatory ambits of the Eastern Caribbean’s Central Bank, the ECCB. According to Polius, the farmers’ cooperative credit union’s vision is “to be committed in providing and enhancing the quality of our products and services to our members and customers, according to their changing financial needs, as we remain abreast with technological upgrades in our operating environment.” The farmers went the credit union route because it allows them to save together and lend money to each other at low interest rates. And, every year, they meet to elect directors who will set policies and procedures for their credit union. A largely unknown fact is that the NF&GWCCU is the second largest credit union on the island, in terms of membership (with 8,000 members) and seventh in terms of assets ($22 million). Membership of the farmers’ cooperative credit union is as easy as 1-2-3: Any resident anywhere in St. Lucia who is fully employed or self-employed can walk into any of its three locations in Castries, Vieux Fort or Gros Islet with $10.00, and register to become a member and, in effect, also, instantly, have their spouses and children also registered and covered. One only has to purchase at least 20 shares at $5.00 each. Members can make savings and earn profits through shares and deposits. In addition, there is a withdrawal facility, loans are issued, salaries are assigned and

statements of accounts are forwarded to depositors/members/shareholders. Under the family indemnity plan (for up to six persons including spouse, children and parents), the credit union offers to take care of funeral and other related expenses. For this plan, no questions are asked and no medical examinations are needed, and claims are processed to be paid within two days. The credit union offers members life savings insurance of up to $30,000 as an added cause for gain at no extra cost. Under that plan, each dollar share a member saves is matched dollar-to-dollar for the insurance. It also provides loan protection insurance to eligible members, at no extra charge. Under the plan, the borrower’s loan balance is insured up to $70,000 until the individual’s death or disability. In the event of such casualties, the beneficiaries do not inherit the member’s debt to the credit union. The interest on loans is paid at an alltime low rate of 0.75% of the unpaid balance, which enables members to save more and make more money available to other users. At the end of each financial year, after expenses are paid and reserves are set aside, the credit union may pay its members a percentage of its income as interest and/or dividends. It also offers fixed deposits at competitive interest rates… Among the “productive and provident purposes” for which the credit union will provide loans are education, travel, medical care, mortgages, land, housing and debt consolidation. But if you didn’t know about the island’s second largest membership credit union until now, don’t feel alone. It is out of its realisation of the need to farm itself out even more to the national community that the NF&GWCCU has opened its new headquarters in the north to serve the growing Marisule, Corinth, Bois d’Orange, Morne Giraud, Babonneau, Monchy, Rodney Bay, Cap, Corinth and other areas in the north between Castries and Gros Islet. As with every entity anywhere, the NF&GWCCU has taken stock of its trade and decided to increase its investment in itself. Polius says it is now working to ensure that its investment in itself pays the expected dividends. BF

National Farmers & General Workers Co-operative Credit Union

STEP BY STEP

Bois D Orange Branch

WHAT IS STEP-BY-STEP? The Introduction of saving accounts design specially for children the ages of 0 - 15 years old BECOME A MEMBER By Completing a Membership Application Form. No Registration Fee required and a minimum desposit of $5.00 Terms & Conditions Earn Interest Quarterly. At 16 years, the child becomes a full pledge member of NF&GWCCU can start buying shares.

BENEFITS FOR TEACHING CHILDREN TO SAVE: 1. TEACHES THEM ABOUT MONEY 3. TEACHES HIM / HER TO SAVE FOR THE FUTURE 5. TEENS CAN LEARN TO DO THEIR OWN SAVINGS

2. TEACHES THEM ABOUT SAVING 4. SAVING ACCOUNTS FOR MINORS 6. FUTURE GOALS

The NF&GWCCU offers loans at affordable and competitive interest rates for productive and provident purposes Providing quality, timely and professional services to its membership as it continuously encourages maximum participation, staff development, while remaining committed to its socio-economic responsibility to our people

We Are Located at the following locations: NATIONAL FARMERS & GENERAL WORKERS CO-OPERATIVE CREDIT UNION LTD. Bridge St. Castries: Tel: (758) 452.7277 Fax: (758) 454.2348 / 458.2368 Vieux Fort: (758) 454.6710 Fax: (758)454.9526 Bois D’ Orange, Daher Building, Marisule: TEL: (758)452.9219 Fax: (758) 452.9218 Email: nfccu@yahoo.com • Website: www.dcslu.com/NFGWCCU.html

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BusinessFocus Sept / Oct

FEATURE

A Man of More than Business The many lives of Adrian Augier

Adrian Augier isn’t a regular guy. He can appear to be, as he does most times. But he’s always been much more than he seems, much deeper than skin. Born in England “by accident of geography” he is undoubtedly 100% body-and-soul St. Lucian, and has remained above ground and walked tall in everything he’s done or been part of – from culture to commerce, academics to economics, from theatre to the serious business of national development planning. Son of the late Leonard Augier, former Chief Engineer of the Public Works Department (PWD) and later Consultant Engineer with Crown Agents-St. Lucia, Adrian was exposed, from his preteen days, to many aspects of planning for this small Caribbean island. In addition, his dad was referred to as “a very cultured gentleman” and was himself a former Carnival King and noted Tenor with the Cultural and Performing Arts Society (CPAS). No less would be said of his mother, Arlette. Her footprint on the cultural landscape includes roles in the CPAS, Carifesta, Carnival, and the M&C Fine Arts Council. In the words of his parents’ generation, Adrian had “a cultured upbringing.” Just past 50 now, Adrian’s breadth and depth of knowledge, sartorial elegance and dogged perseverance inform and pervade whatever he does, wherever. He rubs shoulders with Prime Ministers, Nobel Laureates and Knights, just as easily as he works alongside aspiring young artists, challenging them to hone their skills, pool their talents, and produce quality output. He’ll lead a workshop, chair a seminar, lecture at a college and strategize at the highest levels of decision-making. Through all of that, Adrian clings tightly to his St. Lucian heart and soul. Acknowledged as one of the island’s savviest economists, Adrian attended St. Mary’s College (1969-1974) and The BusinessFocus Sept / Oct

St. Lucia A-Level College (1975-1977) before furthering his education abroad. He earned a Bachelor of Arts degree in Economics and Political Science from the University of Western Ontario, Canada and a Master of Arts Degree (with Distinction) in Development Finance and Planning from American University in Washington, DC. His local cultural credentials are also impeccable. Fresh from University in Canada, he co-founded the Lighthouse Theatre in 1983, and in 1997 established the Factory Creative Arts Centre as an incubator for young performing talents. He has written and produced several musicals, including the creation myth Hewanorra Story and its sequel Troumassay. He is also the writer and producer of Anthem (2004) and Esperance (2009), commissioned by the St. Lucia Government to mark the island’s 25th and 30th Independence anniversaries. An avid ‘Mas Man’ since he was 17, Adrian was four times King of the Bands in portrayals he designed and built himself.

He has been intimately involved in St. Lucia carnival production for more than three decades, having first excelled first with Royalites and then launched his own band, Rituals, in 2003. For his creative work, he was awarded six times by the Minvielle & Chastanet (M&C) Fine Arts Awards Council in 1980, 1981, 1982, 1991, 1994 and 1998. He remains one of a select few to be recognised in all three major categories of literary, visual and performing arts. A decade later he went regional and received the Caribbean Cacique Award from the National Drama Association of Trinidad & Tobago for “Outstanding Contribution to the Development and Integration of Caribbean Theatre.” His highest award to date came just last year when he was declared the 2010 Caribbean Laureate for Arts and Letters. He received this prestigious distinction from the Anthony N. Sabga Foundation of Trinidad & Tobago, becoming the first St. Lucian and OECS national to be so recognised. The foundation lauded

Adrian’s involvement in creative projects across the region and his impact on an upcoming generation of practitioners likely to benefit from his knowledge, experience and example. At the other end of the experiential spectrum, Adrian has worked collaboratively on projects involving many internationally acclaimed artists, like Raf Robertson, Mavis John and Peter Minshall, David Rudder, Ella Andall and Derek Walcott. His stage work in Trinidad includes the critically acclaimed multimedia stage production Urban Drift, St. Lucia’s country presentation and signal event at Carifesta 10. Adrian has broken ground and opened doors for many a fellow artist and has taken local talent to major cities such as Dublin, Dakar, London, New York, and Sydney. Both as performer and producer, he has also presented work in Canada and all over the Caribbean, including the French West Indies. As a poet, he’s written several titles, the latest of which, Bridgemaker, was

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FEATURE

critically acclaimed by the likes of Edward Kamau Brathwaite and Kwame Dawes. Of Bridgemaker, Rex Nettleford - late Vice Chancellor of UWI and Caribbean cultural icon, said, “…a welcome collection, beautifully crafted, …rooted in the creative diversity of the Caribbean persona and psychic inheritance of this bridgemaker poet.” Adrian’s business expertise also stretches far and wide. He was Director and Chairman of the Windward Islands Packaging Company (WINERA) from 1998 to 2007 and Executive Director of the St. Lucia Chamber of Commerce from 1988 to 1993. Before that he served as Chief Economist in St. Lucia’s Ministry of Finance and Planning and was Economic Policy Advisor to Prime Minister Dr Kenny Anthony. During this tenure, he served as Deputy National Authorising Officer for the St. Lucia’s grant assistance program with the European Union, and established the Office of Private Sector Relations (OPSR) as well as the National Economic Council (NEC). Given this unlikely blend of private sector, public sector and entrepreneurial expertise, Adrian has been recognised at regional level as a proficient economic development consultant. He has in fact worked in that capacity on projects with the World Bank, the European Union, the United Nations Conference on Trade and Development (UNCTAD) and the United States Agency for International Development USAID. He is currently Co-Chair of the Caricom Task Force on the Development of Creative Industries and a member of the Interim Festival Directorate for Carifesta, the region’s ultimate arts and culture showcase. One of the architects of the Maroon Festival in Carriacou, he has served as consultant to the Grenada government on the development of new cultural products. Business being in his blood, Adrian is always at it. His private endeavours are mostly art, design, and event related, and he has been a central figure promoting here - and most everywhere else - the development of indigenous and regional creative industry. He’s also a prime mover and fund raiser, when it comes to networking between private sector agencies and other entities involved in culture-related industries. But Adrian Augier is also much more than BusinessFocus Sept / Oct

just culture and business. He’s been able to shape and harness synergies that marry art and commerce to meet development goals. This is the mandate of the St. Lucia Arts Festival Company, a not-for-profit agency created to expand performance and employment opportunities in the creative sector. This agency manages two major products: the KALALU World Music Festival (2005 to 2008) and the WordAlive International Literary Festival now into its 7th successful year. Over the years, his relentless pursuit of excellence has ensured that he invested in both the skills and equipment that his creative companies need to make events successful. That way, he has also made available to everyone else - customers and competitors alike - all the physical ingredients required for perfect events. Today, event management is a recognised industry, a new subject on the UWI curriculum and an economic and business phenomenon that is mushrooming across the Caribbean. Always seeking to reflect his vision through his work, Adrian has become known and respected at home and abroad. Multi-talented and a very capable organizer and administrator, he also shares many similarities with other great St. Lucian minds. He would not make the comparison himself, but it stands true that

Adrian and Derek Walcott, have a lot in common: they both paint, write plays and poetry, and are uncompromising on issues of quality. Walcott was selected to produce his Drums and Colours, as the major cultural event for the formal ceremony in Portof-Spain marking the establishment of the West Indies Federation. Decades later, Adrian was commissioned to produce Anthem, Esperance and Urban Drift to mark St. Lucia’s 25th and 30th Independence Anniversary and the 10th edition of Carifesta. And, as if the gods willed them together, Walcott and Adrian were both awarded at separate ceremonies in Trinidad & Tobago: Walcott won the OCM Bocas Prize for his latest work White Egrets, shortly after Augier copped the 2010 Sabga Award for Arts and Letters. Chairman of the OECS Nominating Committee, Dominica’s former trade minister and ambassador, Charles Maynard, said of Adrian: “He has consistently displayed excellent standards of work in the field of culture and those who are eminently equipped to assess his contribution endorse that view... he has considerable scope and potential for impacting on his community… and going beyond himself in his field of endeavour.” The Sabga Awards Committee, in its citation, said it “expects that he will continue to make a contribution to the cultural and social development of the region and that the only limitations on his potential are time and space to do everything he hopes to achieve.” Thanks in large part that pioneering spirit, St. Lucia towers above its OECS neighbours in the field of Event Management. It is now an open field with many players, but back when it humbly began he had to build his nest from straw. Who better then, to talk about the business of Event Management and the development of creative industries? Earl Bousquet sat with Adrian Augier on the first working day after the 2011 St. Lucia Carnival, in which his band Rituals, won most of the major awards, including both Junior and Adult King and Queen of the Bands, Individual of the Year, Mas on the Move and Section of the Year, with runner-up titles for Band of the Year, Best Design and Best Portrayal. BF

The Interview

Adrian with relatives at Sabga Award Ceremony in Trinidad

You look and sound fresh and rejuvenated one day after your band won all those awards. Congrats… Thanks, but I’ve been up since dawn, doing all the things I do every day. One gets used to it over time, I guess… How do you transcend the worlds of arts and enterprise? It is not easy... sometimes - as in almost every day - the desire to be the pure artist tugs against the need to pay bills and be efficient and generate profits. Generally, I’m happy if there is enough left over to start the next project. That’s why I have an accountant, mostly to keep the artist in line. So, what’s changed over the years? A lot... What’s great is that the economy has matured significantly and creative goods and services are now recognised as having value. When we started out, it was harder to earn a living from creative talent. Carpenters, electricians, truck drivers everyone else got paid and performers were expected to work for free. But, thankfully, that has changed. More people understand the events business and the importance of the creative industry. Cricket World Cup, St. Lucia Jazz and other mega events have nurtured the whole events sector that we speak of today. At

Landmark, with Kalalu and WordAlive, we developed a niche as festival designers. That helps our regional profile a great deal. We have over the years enhanced a range of professional skills and emerged from the era of “free-sources” to be recognised as a cadre of real economic resources. How did that happen? Competition, sports, tourism, entertainment, communications, distribution… All these emerging services have needs which have to be met, so we’ve been able to tap into that need and create a new sector to serve them. Even with our internal need to generate quality theatre productions like Hewanorra Story, Troumassay and Esperance, we had to invest in skills and technology which enabled us to develop an inventory available to us and then to other entities; whatever you need from lighting to costumes, custom decor, an opening number, dinner for 500, tents, tables, chairs, stages and whole venues... we can literally create. Necessity being the mother of invention, what sustained that process? The decline of the banana industry and the collapse of manufacturing caused many to look at the economic potential of our creative assets. Ecotourism emerged at the wake of export agriculture. Export

services overtook export manufacturing. But it was perhaps fixtures like the annual Jazz Festival, now in its 20th year, which truly helped give shape to the local creative sector. Suddenly there was dependable business. There was a budget we could count on every year, which enabled us to plan. The annual M&C Fine Arts Awards also helped open the way with another fixture on the calendar. For more than 20 years it gave work to script writers and producers and helped unearth new talents and skills. Then you have the annual Carnival and the annual National Tourism Awards, all of which had growing budgets. It meant we could dream bigger. And what’s come out of that? As a result, over the years a talent pool has developed in St. Lucia that really puts us at the top of the events planning business, certainly in the OECS, and we compare favourably with the likes of Jamaica, Barbados and Trinidad as well. In our case, the median is moving upward. People from other countries, islands and territories come here to a show and they look at us with awe. We bring a lot of originality and true creativity to the table. We are good at what we do and once we have a little respect and self confidence, what we can BusinessFocus Sept / Oct

FEATURE

do with a dollar is pretty damn impressive. You are the 2010 Anthony Sabga Laureate for Arts & Letters. You were serenaded and cited for your life’s work. How did that feel? This is not just a personal triumph. I felt a fierce pride for St. Lucia and for the OECS. It was the first time an OECS national got up there. At each round we knew we were going up against the big Caribbean guns, we had to build the case, so in the end I felt victorious for our country and our region. I said so in my acceptance speech: this is for my village - the OECS. I also thought a lot about my regional work, and the people who helped me discover new ground. My extended family – St. Lucia, Trinidad, Jamaica - all came to the ceremony and really good friends from all over. It was a huge moment. It still is... I remind myself that I’ve been honoured to work with some of the best professionals in the business, especially in Trinidad. So they know me and my work and they know of us – what we have achieved here in St. Lucia. Mostly, I was thankful that the award recognised the work I’ve been doing with younger people, using my good fortune to help shape others. I think all of that is behind the award. So, where to from here? There’s no limit to the possibilities. We have huge opportunities. But we need to mobilise the whole arts sector. We lack real leadership across the region: people with vision. We are just drifting along. There’s a crisis of leadership, and it’s not only in the political arena but also in the private sector and civil society. It’s not that people have become so profit-oriented; it’s the absence of something more fundamental: a cause, a rationale, a set of guiding principles as a society, a sense of where we’re going. I am writing a lot about that in the new BusinessFocus Sept / Oct

collection – Navel String. Most of us live and work and think it’s about income. Income is measured in dollars. But it’s about wealth. Wealth is about ownership, stability, self-determination, wisdom. And with that comes choice – long-term options for real progress, not this ‘I-gainyou-lose’, dog-eat-dog vibe that we get off on. People need to focus on issues larger than themselves and these two-bit islands we exist on. Even the regional integration movement has become so diluted that today it’s all about “me” and “I”, not much about “us”. We have to look beyond that to create a larger socio-political economic space. We can and we should. We must put our house in order. But you’re Co-Chair of the Caricom Task Force on Development of the Creative Industries… Yes, and we’re looking at the institutional framework and the policy mechanisms and measures to accelerate development of the creative industries across the region. But it is frustratingly slow because we have to work within the system. It is slow and cumbersome, when what we need is radical change, and sooner rather than later. Also, we are working from the bottom up to convince leaders who should already know the merits of the case. The political ethic is fractured. There are so few champions with both faith and fire. The UWI is offering a course in Events Management… Yes, but it’s more of a response than a consistent strategy. Check the priority list and see if there are any scholarships in the sector. You know, we suffer from great hindsight in the Caribbean. We have the course and the means, but we still have not taken the decisions to make events regionally more competitive. Our industry is attracting foreign exchange to

the country and the region because people travel and stay at hotels. They buy our services. But, unfortunately, there is no comprehensive policy to recognise those services and make larger things happen. These issues need to be addressed at the macro level. We have to ask ourselves some tough questions. For example, why is government here subsidising the travesty that Carnival has become? Don’t get me wrong: Carnival bands, tents, steel bands all need the subsidy - and desperately - because times are tough and cash sponsorship is minimal. But we must decide what we’re subsidising and why. What is the desired outcome? The struggle for the creative industries is by no means over... Does everything always go well in Adrian’s world? Frankly, I get quite despondent hitting my head against the same brick walls. We think too small. The old heads are too hard. The blood-out-of-stone business has been a long story that’s still with us. The pettiness, the mediocrity… It’s all there. Yes, things can go wrong for even the best of us. It’s a tough call sometimes not to pack up and look elsewhere. But as Derek says: “If there is nothing here then there is everything to be built!” Everyone is concerned about the young people today. You too? Don’t write off the young generation. There are incredible young people out there who are dynamic and talented and not all after the fast buck. Many accept that they have to work hard and pay dues. The problem is that they don’t come with the requisite skills or depth of knowledge. It’s hard to get young people who are ready... a lot of training and parenting and mentoring to do all at once. Great energy, but practical skills are limited and communication is mostly NOT! We have to hone them. It’s the only way because they lack confidence. It’s a societal thing. We discourage excellence. The society would rather drag you down into a comfort zone of complacency. It’s hard work staying up. So we scout and recruit and train those who have what we’re looking for or who are showing a will to change for the better or to start off on the right track. It’s never easy, but it’s always possible. Who’s to blame? Well, all of us I suppose. But, the education policy doesn’t help. We prepare

young people to be employees and consumers, to be led and told what to do. We don’t raise them to be leaders, thinkers, inventors, problem-solvers, owners. We promise them a CXC pass, but not a thirst for life-long learning. Many are studying computers and business skills in a vacuum. We don’t teach them to use these tools to release the creative potential within, to build communities and a nation. Like I said in my poem: “You think the struggle is over..? Yes you, with your fake name-brand jeans halfway down the black crack in your consciousness. A lil’ fry chicken, weekend sex, and some cell phone money, and we okay. We good to go...” What will be your legacy in the development of the local creative industry? It’s three years since we’ve merged our three entities – Jen S Designs, Rent-A-Tent and Office Online – into Landmark Events, hoping to become the leading one-stopshop for events. We are getting there. There’s always more to do. We have to make and change the blue print as we go along. One day there may be a case study: How not to run an events company. Who knows? In the meantime, we build the team and share the dream. It’s not always

about competing. I must say, we have a great team of people at Landmark, and I love my staff. I think they have all grown immensely with us, not just as workers, but as individuals. Young interns want to come to Landmark, so we must be doing something right. We meet new challenges each day, but we stay the course. We invent and reinvent, we adapt, we create. It’s the greatest gift. We’ve also grown organically, so it’s imperfect, but pretty stable. Even our corporate building has grown in stages. You can trace our corporate history in the various renovations and extensions. Now we have Samaans Park, which has created new economic space for us and others. We’re about to start a new expansion there. That’s very exciting. And so, we keep thinking - that’s the main thing. Looking beyond Adrian? Yes, and thinking of what to do next. I’d like go to Asia where truly old meets truly new. I’d like to write and paint much more; and teach, and create living workshops where young people can be energised and then sent out to a brave new world; a creative revolution! Actually I have asked my children to get ready, because as the

next generation, they will hopefully take what’s there to the next level. That’s fine with me. They’ll have to expand into new areas, to broaden and pull fresh elements together, to take us to the stage where you can plan your global event around our online portfolio. The brand should outlive the man. The ‘Adrian Augier’ brand? Yes, but it’s a double-edged sword. People need to know that things go well even if AA is not around... And it usually does! Last words? Just that event management is only one aspect of creative industry. This is a wide open field, an ocean of uncharted water, if you like. Creative industry is global. We have a lot to offer, and must be ready to compare and compete with the best because we deserve no less. At Landmark, we are bridging borders to widen our horizons. We strive to stay on the cutting edge. Growth, like a tide, raises all boats. We want St. Lucia to grow. It would improve us all. BF

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BusinessFocus Sept / Oct

FEATURE

Landmark Events

Above and Beyond…!

Objective, mission, driving force, raison d’etre… all in one phrase! Rising above expectations and thinking beyond boundaries, Landmark Events sees itself as the company by which milestones are set and standards are measured. Born out of a marriage between two trendsetting industry leaders (Jen-S Designs and Renta Tent Plus), this hybrid company is defining a new service frontier for the Special Events sector in St. Lucia. A member of the Landmark Group established over 20 years ago and growing quietly on a reputation of originality and professionalism, Landmark Events now offers the region’s most comprehensive range of products and services spanning event planning, production, infrastructure and custom designed décor. “It’s a unique company” says Admin and HR Manager Jeanine Fricot-Miller who recently joined the Group as part of an evolving corporate structure. “I actually look forward to coming to work each day because of the dynamic atmosphere and sheer creative energy… At Landmark Events it’s never the same day twice!” “That dynamic energy is exactly what attracted me to the Group” says Sales and Marketing Director, Tracey Warner-Arnold. With years of experience in tourism and telecommunications marketing, and a healthy dose of planning and managing Cricket and Jazz events, it has proven to be a near-perfect fit. “Landmark Events is very serious about the growth and development of its team as well as its corporate position as a regional leader… We’re responsive, market driven and open to new ideas, and want to maintain these fundamentals as we continue to grow.” That’s exactly why the company has gone about quietly reinventing itself, redesignBusinessFocus Sept Sept//Oct Oct BusinessFocus

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ing its internal systems and putting the right people in place. The result is a company positioned to offer one-stop shopping to the growing events sector in St. Lucia and beyond. An impressive range of customers include private individuals planning a small family gathering, to international corporations staging product promotions and incentive events. Besides its association with annual fixtures like the Bank of St. Lucia’s AutoMax and First Caribbean’s Home Show, the company also owns and operates several successfully branded events of its own, including the Kalalu World Music Festival, Jazz Afterglow, Word Alive and Rituals Carnival. The new and improved, Landmark Events continues to produce events from concept to completion irrespective of size. With an eye on creativity, value and quality, an intimate waterside wedding with a modest budget is likely to receive as much attention and enthusiasm as a regional conference or a million dollar opening ceremony. As a single seamless service provider, Landmark Events is a genuine partnership of people and ideas, bringing clients the region’s most diversified in-house special events inventory. This includes a variety of tents, lights, tables, chairs, décor items, stage equipment, linens and cutlery, as well as a six-acre special events facility at Samaans Park, Choc Bay, which comprises three venues in one. Well into its second operating year, the park has accommodated a diversity of events from tradeshows and music festivals to parties, pageants and poetry readings. The real asset however is the company’s service. Landmark Events now offers both standard décor packages and custom designed solutions, which means almost

any event that can be conceived can be successfully created with a sense of style and drama attributable to its origins in the carnival arts and theatre. Their in-house capacity covers everything from supplying skirted tables to scripted speeches, live music to living mannequins, flowing fountains and forest scenes complete with rising mist and birdsong. Over the years the group has undertaken projects as diverse as Cricket World Cup, Virgin Atlantic’s inaugural reception, and the visit of a Papal Nuncio. At home in St. Lucia, they have feted American Presidents and British Princes, managed corporate launches as smoothly as state funerals, and seated heads of state and government. Further afield, the Group has provided set design, lighting and stage management services to festivals in Anguilla, Guadeloupe and Trinidad, exported costumes to Martinique, Latvia and Mexico, and produced an array of stunning events across the region. This track record of cost effective creativity earned the Group the Chamber of Commerce “Service Exporter of the Year Award” for 2007, and since then the accolades and enquiries have poured in. “It’s a badge of honour to be recognised in this way” says a thankful CEO Adrian Augier, recently featured in the Who’s Who of St. Lucia Business and clearly the company’s artistic and entrepreneurial epicentre. A trained economist and talented artist, his unusual combination of heart and head may well account for the dynamism of the Landmark model and the company’s admirable ability to bridge that uncharted space between Art and Commerce.

LandmarkEvents

Corporate Events • Weddings • Promotions • Trade Shows Festivals • Conferences • Stage Productions Design • Production • Management • Décor Rentals • Lighting • Entertainment

758 452 8418 BusinessFocus Sept / Oct

landmarkcaribbean.com

FEATURE

EVENTPLANNING A New Service in Great Demand

Planning a party? A conference? A wedding? A festival? A graduation? An awards ceremony? Whatever it is, it’s an event. And it needs to be planned properly if it is to be the success you want it to be.

and sound systems, arrange lighting, ensure security, arrange entertainment, prepare promotional items, choose garments, arrange emergency services, ensure clean-up and garbage disposal…

But you need not sweat, because there are people whothin’ll do it all for you. They’re called Event Planners and Event Managers. And they have companies to do the job for you. Expertly.

Back in time, none of that existed. But times have changed radically – and so has the way events are planned and managed. Event planning and management is so in need now that it’s become an industry – one of several creative industries that have emerged on the St. Lucia business landscape. Individuals and companies have emerged and mushroomed, providing everything from tents, stages and sounds to flowers and posters, music and photographs, lights and security.

Once upon a time planning a party was simply spontaneous – invitations, food and drinks, full stop. Not any more. Today, every event needs to be properly planned if it is to be remembered like any other. For today’s event, no matter where, there are things you’ll need to do: secure the venue, arrange catering (food and drinks), choose decorations, secure tents, chairs and tables, arrange transport, select music BusinessFocus Sept / Oct

The industry is sustained by a growing calendar of events that has seen increasing emphasis on improving event quality. Apart from the regulars mega events like

the Jazz Festival and the ARC race, other staple products have emerged on the national stage such as the fringe St. Lucia Jazz Events (Jazz on the Square, Jazz in the South, Fond d’Or Jazz, Jazz on the Beach, Jazz on the Pier, etc), the Kalalu World Music Festival, Word Alive, IWC 20/20 Cricket, the St. Lucia Business Awards and the International Food Festival, etc. The services needed for these events are offered and provided by many local entrepreneurs, most of which have grown with the industry and taken it from strength to strength. The quality of this particular service has also been improving by leaps and bounds, as can be seen in the TV broadcasts of the major planned events. Events planning and management is truly a new and emerging industry that’s already serving St. Lucia well. BF

EQP

Poised for

TAKE-OFF

The Signs Are Clear!

EQP Signs took off when Terry Foster was asked to do a pair of number plates for his dad’s car. He took the challenge and tried – and it worked. At the time he had a very busy job, flying the islands as a courier, and the number plate affair turned out to be “a hobby that grew into a little business on a side.” From there, Terry widened his lens and graduated into signage. That was a full 25 years ago when EQP was still a one-man-shop. Since then, it’s taken the quantum technological leap from hand-painting to computerization. “That’s when we made the transition to sign software,” Foster told BF. EQP started out at a family-owned outlet at 5 High Street, but Terry’s signs were being seen beyond his shop. “By word of mouth, I started to get more customers and my customer base started growing,” he recalled. Another industry change soon came with the entry of digital printing.

Determined to produce the best quality, Terry concentrated on building capacity. But Terry was never all just alone. His wife, Junita, was his prime partner from the inception. “She was the one who would run things while I had a regular job. I would look after the artistic and sales aspect, while she did the accounts and took care of administration,” he added. With time, more equipment was needed and the business outgrew the High Street location, resulting in relocation to the present headquarters at Ganter’s Bay, Vigie. But the High Street outlet did not close. It was transformed into a city branch where smaller and more urgent jobs can be done, and jobs requiring more technical and artistic detail would be redirected to Vigie. EQP Signs can handle all signage needs: from number-plates to banners, to labels, to signboards - all using digital printing. So, what’s next for EQP Signs? According

Terry Foster - Managing Director

to Foster, “Billboards, vehicle wraps - and seeing whether our operation can hold ground at home and expand regionally.” He confirmed the company has already got a few regional jobs (including a major one with Sagicor) and is convinced that once EQP Signs can maintain its record of delivering the superior products it’s become known for, it will prevail on the signage market, at home and abroad. “All the signs are there,” says Foster. BF

Wide Format Digital Printing Banners Logo & Other Custom Designs Glass & Window Signs Vehicle Wraps & Decals Bumper Stickers illuminated & Non-Illuminated Signs Billboards, Directories & Architectural Signs

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Email: eqpsigns@yahoo.com BusinessFocus Sept / Oct

FEATURE

Daniel Belizaire, President Eventstar (St. Lucia)

EVENTSTAR Catering for All Events From glitzy shows to natural disasters… St. Lucia is home to an international Events Planning entity that’s not only serving the local market, but also has its eyes set on the wider Caribbean community. EventStar (St Lucia) Ltd was established in St Lucia in 2009 as a joint venture between EventStar USA and St. Lucian Daniel Belizaire, who is the principal shareholder. The company’s primary business was to provide temporary structures and related support services for the hosting of public and private events in St Lucia and the wider English speaking Caribbean. They have been highly acclaimed for the structures delivered in the hosting of CHA Caribbean Marketplace in St Lucia, which set a totally new standard for temporary structures in the island. They have since made a similar impact at St Lucia Jazz with the VIP and Corporate areas as well as washroom facilities, and have been awarded a number of contracts since. EventStar’s temporary structures at Jazz also included the setting up of the craft sale shops, arts & craft village, corporate shops and air conditioned washrooms. Eventstar isn’t only about preparing for entertainment events. It can also cater for emergencies as was done in New Orleans after Hurricane Katrina and did the same in Soufriere last year after Hurricane Tomas, when the Soufriere Foundation contracted them to erect a relief centre for victims. A temporary structure was established for affected families and remained in place for some three weeks. “We were able to set up that first Soufriere structure at Fond St. Jacques within 12 hours of being contacted,” BusinessFocus Sept / Oct

Belizaire proudly recalls, “following which we are also asked to set up another structure in the town itself, this time for the CARE school students, who were able to attend classes in our temporary structures.” “So, apart from entertainment events, we also do hurricanes and other natural disaster relief works and services,” he added. In identifying another market for EventStar, Belizaire says the company is now in contact with Caricom governments, “informing and offering them that we can provide relief structures within 48 hours of an earthquake, hurricane or any other type of disaster.” EventStar provides structures for events, but Belizaire emphasizes that “We can also provide temporary structures for any other eventuality.” He said several of his company’s products are based here, “but we have such a wide variety and there’s such a large range of needs that whatever is needed and isn’t available here is only a phone call away and can be shipped here – or anywhere else -- in the quickest possible time.” Indeed, from its St. Lucia base, EventStar caters for the entire English-speaking Caribbean, from Jamaica to Trinidad & Tobago and Guyana. And, to ensure perfect execution, the company has developed a local skills base comprising some fifteen (15) individuals, trained by parent company specialists flown in from Miami, who can erect and dismantle structures in record time. EventStar structures are recognized worldwide for its unique designs of permanent and semipermanent fabric structures. Specializing in fabric architecture, temperature control

units and power generation solutions, and known for their creative and innovative event infrastructures, EventStar has become the go-to resource for temporary structures and accessories for the South, Central, and North American and Caribbean markets. The company’s mobile restroom division, especially, offers single, double and multiple portable restroom systems. Its luxury series are especially designed for high-end hospitality parties and exclusive gatherings. These upscale facilities bring superior comfort and convenience, featuring units with cooling capabilities, hardwood floors, marble sinks, ceramic toilets, full-length mirrors, and sound systems. EventStar’s internationally diversified rental inventory offers prospective clients the option of designing unique venues for their temporary and semi-permanent building needs. From concept to completion, EventStar has proven that it has the capabilities and expertise to assist with every facet of special events. Looking ahead to new pastures, Belizaire said EventStar will be interested in providing special facilities for next year’s St. Lucia Carnival celebrations. “We’d like to erect structures here for Carnival, such as viewing areas, bleachers, washrooms and other air-conditioned temporary structures, because we see the need for them and will be working in that direction as of next year,” he said. “We’re also looking at starting our very own event here in St. Lucia, but it’s just too early to talk about that,” he concluded. BF

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BusinessFocus Sept / Oct

FEATURE

St. Lucia’s Events Calendar is Year-Round now among the best known for having a good time in the Caribbean. You don’t have to be a visitor to have a good time here. Anyone living on the island can spend each and every night out - if one wants to set a little record. But among all the nightly and daily good times are some landmark annual events that have given rise to a new industry called Events Management. Yes, managing events has become a work of art, if one is to listen to those involved. They’ll tell you a hundred things you need to have in place, and if you thought they were only throwing numbers at you, they’d justify every single item they recommended. That’s because the people planning St. Lucia’s major events have to live up to a particular standard, especially as they have to plan for world famous performers and guests who’ll measure what they get here against what they’re accustomed to. “Take the St. Lucia Jazz Festival,” one planner associated with preparations for the annual event told BF, “It brings to our shores seasoned performers with all types of demands, requests and desires. But apart from catering for them, we also have to cater for the thousands of visitors coming to attend and the tens of thousands of St. Lucians who take part every year.” According to this particular shy guy, “We have all year to plan, but we only have days to deliver and during that period we have to be able to work efficiently and quickly, and at the same time, deliver the best product possible.” St. Lucia’s events calendar is year-round, so much so, that if you’re not careful, you could indeed end up attending events from January to December on an island that’s BusinessFocus Sept / Oct

So, what are the events on the island’s calendar that have given rise to a number of professional event planning agencies, companies and individuals offering services ranging from sounds to stages to

tents to fireworks, flowers and transport? The annual Jazz Festival (in its 20th year) is the main calendar item, but St. Lucia’s hosting of the Cricket World Cup in 2007 was also another landmark event that honed the skills of local event planners and voluntary brigades that had to cater for the month-long series of activities that brought visitors to the island, along with players and their families from across the world. Equally important, however, are the annual Atlantic Rally for Cruisers (now in its 25th year) and the annual Carnival and Calypso parade competitions, which are growing in popularity and dimension at home and attracting even more Caribbean persons to the island, particularly as our Carnival season no longer clashes with Trinidad & Tobago’s. Between these expected annual activities, come the annual Creole Heritage Month activities (in October) and the annual International Food festival and National Tourism and Sports Awards. Then there are the occasional undated big shows – like St. Lucia’s hosting of Caribbean Heads of Government Summits, or the Caribbean Hotel & Tourism Association’s annual Caribbean Marketplace Convention and Exhibition, or a major Convention of the Florida-Caribbean Cruise Association (FCCA), or high-profile local events like conventions of St. Lucia Associations overseas, or the recent Homecoming 2010 that saw thousands of St. Lucian residents abroad return from the Diaspora to participate in meetings, meet relatives and make new friends. The addition of the Beausejour Cricket Ground as an events venue alongside Samaans Park in the north are being complemented by the emergence of similar, even though smaller, facilities or

venues in other parts of the island. Major conference venues like the NIC Conference Centre in Castries and the William Jefferson Clinton Ballroom at Sandals Grande St. Lucian, along with growing facilities at smaller properties like Auberge Seraphine, Bay Gardens and Palm Haven, also make the island an attractive venue for regional and international meetings and conferences, participants in which all have to be entertained through events. All these events have to be properly managed, thus giving rise over the years to a whole new industry in which St. Lucia stands out among its OECS neighbours as the best in the business. With better planning and hosting facilities and venues, more local, regional and international organisations are targeting St. Lucia for major events, whether conferences or entertainment activities. The national events calendar is indeed growing – and so is the industry it has spawned, with local event planners and managers now also eyeing the regional and international markets. BF

Major Events St. Lucia’s Annual Events Calendar Include: • The St. Lucia Jazz Festival (Mainstage) • Jazz in the South • Jazz on the Square • Fond d’Or Jazz • Tea Time Jazz • Jazz on the Pier • Jazz on the Beach • The Atlantic Rally for Cruisers (ARC) • Carnival • Mas on the Square • King and Queen of the Bands • Carnival Queen Contest • Calypso and Soca Monarch Competitions • Word Alive Poetry

Weddings

on the waterfront

• Kalalu World Music Festival • St. Lucia Business Awards • National Sports Awards Ceremony • St. Lucia International Billfish Tournament • St. Lucia National Junior Sailing Championships • St. Lucia Squash Championships • National Tourism Awards Ceremony

Jacques Waterfront Dining is a gem, hidden away in Vigie Cove, offering tranquil waterfront dining, a tropical garden ambience and great views across the harbour of Castries to Morne Fortune and beyond.

• Love Fest

We host wedding receptions and other private or corporate functions plus we cater to any location from 10 to 1000 people. Call Cathy on 4581900 for details or e-mail cathy@jacquesrestaurant.com PROUD PROVIDERS OF TIMELY, RELIABLE AND PROFESSIONAL CATERING SERVICES SINCE 1999.

• Oktoberfest

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Open for Lunch and Dinner: Monday-Saturday Reservations Recommended Office: (758) 458 1900 Website: www.jacquesrestaurant.com

BusinessFocus Sept / Oct

FEATURE

Rain Forest Sky Rides offers STRETCH Limousine Service For Weddings, VIPs, Tours, Airport Transfers, Sightseeing, Casino & Prom nights, Anniversaries, Bachelor & Bachelorette parties, Birthdays, Concerts, Corporate & Group Events… all for that special treat! New in St. Lucia: The one and only Stretch Limo Service! It’s the only way to travel in style and luxury!!

Extras:

• Tour guides & hostesses are optional • Beverage packages, picnic baskets, a wine list, etc. to suit your occasion. All Limo Service comes with free bottled water. • For the safety conscious guest, we offer armed or non-armed security personnel who can either ride in the limousine or in an additional vehicle. Rain Forest Sky Rides / Rainforest Adventures / Rainforest Expeditions are in the business of raising standards of service for all its products by exceeding customers’ expectations. We welcome this new venture to our suite of services and activities.

Rain Forest Sky Rides is now expanding their service by adding a Stretch Limousine Service. Choose to hire either a black or white Lincoln Town Stretch Limo to travel in style for that special occasion. Vehicles are fully equipped with black leather interior, TV, DVD player and even a crystal stocked bar! Hourly, half day and daily rates are offered. Capacity is for a maximum of 8 persons, with a minimum rate for two persons.

Rain Forest Sky Rides is better known for the Rain Forest Adventure Park in Chassin/Babonneau where you’ll find activities including: • Aerial Tram • Tranopy = Tram + Canopy + Hike • AdrenaLINE = Day time zipping • The one and only AdrenaLUNA = Night time zipping • Trails • Bird watching • The new Hummingbird Garden and Waterfall • Rainforest Expeditions Jeep Tours • And much more…

Our drivers, guides and hostesses are experts in customer service. They guarantee a professional, courteous service and a very neat presentation. They will pick you up from the airport, your home, hotel or business.

FOR INFORMATION OR RESERVATIONS PLEASE CALL US on (758) 458-5151 OR EMAIL US AT: rainforestskyrides@gmail.com OR reservations.slu@rainforestadventure.com

BusinessFocus Sept / Oct

We specialize in : • Event Management and Venue Design • Event Planning and Co-odinating • Interior and Stage Design • Merchandising • Exhibitions • Displays • Wedding Planners • Wedding Supplies and Services

La Clery, P.O.Box GM595, Gablewoods Mall Sunny Acres, St. lucia

Tel: (758) 450-0819 1 Fax: (758) 452-3172 Cell: 758) 716-5974 97 / 715-1030

Email: eventoptions@candw.lc • eventoptions@gmail.com

Ltd.

Party Rentals, Event Planning & Co-ordination

Customer Service Is Our Strenght Email: vimhill@yahoo.com

We Rent: * Tables * Chairs * Glasses(Wine & Drinking) * Cutlery * Crockery * Ice-Bins * Chafing Dishes * Serving Spoons * * Trays and many more items

Corinth P.O. Box 1958 Castries, St. Lucia

Call Vimla at Tel/Fax: 758.450.2273 Cell: 758.720.1783 BusinessFocus Sept / Oct

FEATURE

SLASPA

SAINT LUCIA AIR AND SEA PORTS AUTHORITY

SLASPA tells all on

Corporate Events

The Saint Lucia Air and Sea Ports Authority (SLASPA) facilitates many corporate events such as symposiums, product and service launches, conferences, workshops, media events, dinners, trade shows, corporate hospitality and meetings to name a few. Apart from co-ordination of its internal events, SLASPA facilitates one of St. Lucia’s biggest fringe events on St. Lucia’s Jazz Festival’s calendar of events, the Tea Time Jazz. Most of these events are organised to help SLASPA to engage its target market, communicate messages, improve its business profile and most importantly, to highlight their overall communications strategy. Ms. Dona Regis, SLASPA’s Director of Marketing and Product Development indicated, “SLASPA is not all about landing planes and berthing boats. Rather, we are also the operators and managers of St. Lucia’s ports of entry, and it is important that we communicate our messages through various mediums. To complement our radio, television and newspaper programs, we felt it was necessary to communicate our messages through corporate events.” BusinessFocus Sept / Oct

As part of corporate events, SLASPA through its Marketing and Research Department launched its redeveloped website, refurbished cargo shed, handbook and directory, new port police facility, safety and security campaign at the airport and seaports and media room among many. Between 2009 and 2010, SLASPA organised and hosted the air and sea port transportation and maritime symposiums with a combined total of over 300 participants. On average, SLASPA co-ordinates four media events monthly, participates in three annual international tradeshows and conferences and hosts many local and regional training workshops annually. To successfully host these events, firstly, the Marketing and Research Department prepares a realistic budget and timeline and makes use of critical tools such as checklists, venue analysis, critical paths and program running order. Secondly, timely decisions on details such as the guest list, the start and end time of the event and the selection of service providers are a must for success. Thirdly, the most appropriate theme of

the event, the recommended dress attire, door entry requirements, highlights of the event, promotional campaign and program menu are all necessary to ensure that SLASPA’s corporate message is communicated effectively. Finally, the feedback from SLASPA’s guests at any event is of utmost important as this indicates how satisfied they are and therefore an informal survey is performed to ensure that the next event is better than the one before. So the next time you attend any of SLASPA’s events after moving past the entrance, and you are escorted to a table, do pay attention to the carefully crafted décor, the intricately designed program of the evening, and even the colours and design of the invitation which allowed you entry into the room. All these events require careful planning, detailed preparation and immaculate execution in an effort to ensure that their corporate mandate is met. At the end, guests are left smiling and satisfied, all due to the thoroughness of the event. BF

style

Hewanorra International Airport

Departing in

comfort

style Facilities & Amenities

• Fully stocked bar & complementary snacks • Tastefully outﬁtted with comfortable furnishings • Located within the Departure Lounge after security checks • Wireless Internet • Fax service • Card Swipe Telephone • Cable Television • Flight Information Display Monitor • Duty-free Shopping • Local and international magazines • Smokers’ Gallery • Personalized Customer Service by professionally trained staff Sept / Oct | 81 • Iyanola Executive Lounge, Hewanorra International Airport, P.O. Box 373, Vieux Fort, Saint Lucia, W. I. • Tel: (758) 454 - 8556, Fax: (758) 454 –BusinessFocus 5581 • Email: marketingdepartment@slaspa.com

FEATURE

10 STEPS TO PLANNING YOUR EVENT

Planning an event you want everyone to remember? Professional help is available from several local entities and individuals with track records in the business. But if you wish to venture on your own, here are ten tips to consider: STEP 1: Identify what type of event/activity you want. STEP 2: Determine the goals of the event and what you would like to accomplish. Define your objectives and outcomes and identify the target audience. STEP 3: Decide on a date and time. STEP 4: Consider locations and types of facilities to host the event. Determine the use of space and/or seating arrangements and capacity required, and then decide who will be responsible to secure the facility and be the event coordinator. STEP 5: Consider establishing partnerships with other organisations or people to assist with the execution of the event and identify their roles when determining key decisions. STEP 6: Create a budget, identify the sources and amounts of potential revenue and expenses and revise for realistic cost estimates. STEP 7: Create a timeline outlining all essential decisions and activities in a sequential order from the point of initial consideration to finalisation and execution. Document who is responsible for each function; and communicate the timeline to everyone involved. STEP 8: Determine Key Decisions Program Determine the order of activities. Determine who will perform or execute the agenda items. Determine if a published program is necessary and if so, decide who will create and print the program. Presentation(s)/ Speakers Identify the topics. Determine if presenters/speakers are needed. If so, identify potential presenters or speakers. BusinessFocus Sept / Oct

Decide on the time frame for each presentation. Decide the type of communication that should transpire with the speaker/presenter, when it should occur and who will be responsible to execute and follow-up. Equipment Identify what equipment is necessary. Identify potential sources to secure needed equipment. Evaluate the cost of the equipment. Decide who will be responsible for the pick up and return of the equipment. Materials Determine what materials are needed, and identify potential sources to purchase them. Decide who will be responsible for purchasing, preparing and storing the materials. Awards Determine who will receive awards, as well as the presenters/ speakers to introduce the awardees. Decide on awards items and identify sources to purchase them. Decide who will be responsible for purchasing awards and presenting them. Public Relations Identify the methods which will be used to publicise the event. Decide who will be responsible for preparation of invitations, flyers, press releases, emails etc. Decide who will be the contact for public inquiries for the event. Decide who will be responsible to disseminate the types of information on the event. Internal Communication Determine the method of communication to best inform, include and encourage participation (email, newsletter etc). STEP 9: Take into consideration these special additions/items: Food • Music • Decorations • Flowers Photography/video • Clean up STEP 10: You have planned well and are ready to go.

Good Luck & have a successful event!

If this all sounds too much for you to handle, then contact one of the many experienced local events service providers as advertised in our feature.

ost public events require some form of garbage collection, so whether planning a sporting event, festival, or other gathering please remember to provide an adequate system for collecting and removing garbage. If you coordinate events that will be open to the public the Saint Lucia Solid Waste Management Authority encourages you to consider the following tips: Did you know that the Waste Management Act of 2004 makes provision for the management of waste at public events. According to Section 37 – (1) any person who holds any gathering, meeting or an event open to the public shall prior to the gathering, meeting or event, submit a waste management plan to the Authority for review and approval; and supply sufficient litter bins for the gathering, meeting or event, and shall ensure that all litter on the site is properly collected and disposed of at an approved landfill site within twenty-four hours of the gathering, meeting or event. (2) an organizer who fails to comply with the provisions of subsection (1), commits an offence and is liable on summary conviction to a fine of not exceeding fifteen thousand dollars plus the cost of cleaning up after the gathering, meeting, or event reasonably incurred by the Authority or any other party who cleans up. (3) In addition to the penalty under subsection (2) an organizer shall be liable to not more than three months of community service as the court may order. How many vendors are expected? The size of the venue/activity would determine the number of vendors anticipated as well as the amount of waste to be disposed? Will food or beverages be served? If food and beverages are going to be served, then litter bins will be necessary.

How many litter receptacles will be needed? Anticipating crowd size will help determine the number of litter receptacles and how frequently they will need to be emptied. Some events employ small teams to monitor and collect waste throughout the course of the event. Who will provide litter receptacles? If litter receptacles are not already on site the waste collection contractor may provide them as part of their collection service for the event. If not the bins can be rented from other collection contractor. Where should litter receptacles be placed? Litter receptacles should be placed in convenient areas including the main concourse, near food and beverage vendors, near rest rooms and at entry and exit points. How will litter receptacles be transferred to a centralized collection point? Typically plastic bags/bins are used and replaced/ emptied when full. Depending on the size of the event, site garbage would need to be transferred to dumpsters. Those should be placed nearby, but preferably outside the immediate event location. Will final collection and disposal services be provided by a private waste collection contractor? A number of licensed waste haulers provide garbage collection and disposal services. A list can be provided by the Saint Lucia Solid Waste Management Authority. How will you promote proper waste management practices at the event? Encourage proper waste management practices by promoting it during special announcements. Vendors could also encourage patrons to utilize waste receptacles.

This is in accordance with the Waste Management Act of 2004 which seeks to ensure proper waste management during and after public events which include dances, block-o-ramas, community days, shows, beach parties, public meetings etc. The prescribed form can be obtained from the offices of the SLSWMA. Forms can also be obtained from the website or the offices of the SLSWMA at Sans Souci, Vieux-Fort and Deglos. For more information contact the Saint Lucia Solid Waste Management Authority Tel# 453-2208 or 450-7070 or email us at sluswma@candw.lc The Authority encourages the public to cooperate and notify its office of any public event by calling 453-2208/450-7070.

Support this year’s activity by undertaking one of the following:

 mobilize

staff/groups/community undertake a cleanup activity

and

 donate materials to assist groups involved in cleanup activities or

 contribute financially towards the purchase of materials.

Organizers of public events are encouraged to support all efforts at keeping the country clean and submit to the Authority two weeks before any public event a waste management plan for review and approval. BusinessFocus Sept / Oct

BIZZ BUZZ

OECS Closes Down

High Commission in Ottawa

The reforms offer new scope for people to adopt copyrighted material A review of the UK’s copyright laws offers reforms, but not the radical overhaul demanded by some. The Hargreaves Report was requested by David Cameron amid concerns that current legislation was outdated in the Internet age. Its author, Professor Ian Hargreaves, recommends legalizing the practice of copying music and films. Other suggestions include relaxing the rules on parodies and other re-workings of existing content. It also calls for the setting up of a new agency to mediate between those wanting to license music, film and other digital content, and rights owners. Professor Hargreaves, of Cardiff University said, “My recommendations set out how the intellectual property framework can promote innovation and economic growth in the UK economy. They are designed to enhance the economic potential of the UK’s creative industries and to ensure that the emergence of high technology businesses, especially smaller businesses in other sectors, are not impeded by our IP laws.” One of the key changes it recommends is to legalize format shifting for personal use - the copying of CDs or DVDs onto digital music players or computers. Although no individual has been prosecuted for ripping music, having an outdated legal framework has stifled some innovations, the report said. Another big idea in the report is the creation of a Digital Copyright Exchange. Ms. Hall welcomed the decision to relax the laws on parody. She said that would allow YouTube clips such as Newport State of Mind new breathing space. The song performed by a Welsh rap duo became an internet hit when it replaced the Jay Z hit about New York with lyrics about Newport. But it was taken down following a copyright claim by EMI. Prior to its publication, the Hargreaves Report had been referred to as the ‘Google Review,’ after the search giant claimed that it could never have been founded in the UK because of outdated copyright laws. While the Hargreaves panel accepted that US laws were friendlier towards innovation, it decided it would not work in the UK because it would require copyright changes across Europe. Many of the reforms recommended in the report had already been suggested in the 2006 Gowers Review of Intellectual Property, but never implemented. BF BusinessFocus Sept / Oct

The Organization of Eastern Caribbean States (OECS) recently announced that it would be closing its High Commission in Ottawa, Canada. OECS Director General Dr. Len Ishmael said the High Commission, which was established in 1982, would be closed by December 2011. She blamed the ongoing global financial and economic crisis for the situation. “OECS Heads of Government have been engaged in a critical review of the organisation aimed at the rationalization of its operation, and overseas representation was one area subject to this review in light of the extraordinary burden which it constituted for the treasuries of member states. “It was to be noted that increasingly, the focus of engagement between Canada and the member states of the OECS had shifted as a result of Canada’s policy of decentralisation in respect of CIDA” (Canadian International Development Agency), Ishmael said. She said this policy has resulted in the relocation of key CIDA personnel and related operations to Canada’s High Commission in Barbados. “As a result, collaborative efforts involving Canadian and OECS member state officials had shifted to the region, and in particular, to Barbados. “When taken together, these factors raised serious doubts about the wisdom of maintaining the High Commission in Canada, and as a result, OECS Heads of Government agreed to the closure,” she noted. Ishmael said that the OECS will consolidate and strengthen their consular operations in Toronto in order to satisfy the growing consular demands of OECS nationals resident in Canada, and to be in a position to respond adequately to the expanded range of economic opportunities in Canada for OECS nationals. “The Heads of Government have noted with interest, the opportunities which present themselves, especially in the areas of trade and service provision and have indicated their intention to broaden the scope of operations of the Eastern Caribbean Liaison Service in Toronto. “In this way it would be better equipped to provide the necessary support to the commercial sectors in the OECS, as well as private nationals in the region who may wish to explore and avail themselves of these opportunities,” she added. The OECS groups the islands of Antigua and Barbuda, Dominica, St. Lucia, St. Vincent and the Grenadines, St. Kitts and Nevis, Montserrat, Anguilla and the British Virgin Islands. BF

Van Geest Foundation Donates to Rotary Charity

Van Geest Foundation representative, Malcolm Charles (left), presenting the cheque to Rotary Club President, Timothy Moffat & immediate past President, Dr. Azima Long, in the company of the Governor General, H.E. Dame Pearlette Louisy

The Rotary Club of St. Lucia was recently the recipient of a EC $220,000 grant from the Van Geest Foundation towards the purchase of a Mobile Youth Counselling Clinic for St. Lucia. President of the Rotary Club, Timothy Moffat, said that the Club (through its musical performing arm namely “The Rotary Calabashers”) had been raising funds locally towards the Mobile Unit for some time now and that “the generous donation by the Van Geest Foundation has brought these fundraising efforts to fruition.” Resident Representative of the Van Geest Foundation in the OECS, Mr. Malcolm Charles, said he was pleased to have been instrumental in facilitating the Foundation’s grant to Rotary, as “it was essential that initiatives in providing youth care services to assist in curbing youth frustration and anti social behaviour, along with the provision of opportunities for Career Counseling, Micro Self-Employment and Planned Parenthood programs” be given priority.

Accounting Professionals Better Equipped to Conduct Training

Fifty-three members of the Institute of Chartered Accountants of the Eastern Caribbean (ICAEC) are now better equipped to train other accounting professionals in the Eastern Caribbean Currency Union (ECCU) in the International Financial Reporting Standards (IFRS) for small and medium-sized entities (SMEs). Accounting professionals from seven ECCU member countries participated in a train the trainers workshop on IFRS for SMEs, which was held at the Eastern Caribbean Central Bank Headquarters, St Kitts and Nevis from 16 - 20 May. The IFRS for SMEs is a self-contained standard designed to meet the needs and capabilities of small and medium enterprises, which are estimated to account for over 95 percent of all companies around the world. During the five-day workshop, the participants were introduced to the conceptual framework of the IFRS and were involved in intense training sessions on all sections of the IFRS for SMEs. Each session included plenary instruction followed by group discussion supported by quizzes and case studies.

The establishment of the Rotary Youth Counseling Clinic (similar in concept to the Rotary Sponsored Mobile Blood Bank) is expected to be operated in collaboration with the Government and the Saint Lucia Planned Parenthood Association (SLPPA), with counseling services available to young and disadvantaged persons island wide, across St. Lucia.

Michael Wells, director of the IFRS Education Initiative; Mary Barth, academic advisor to the International Accounting Standards Board; and Bob Garnett, chairman, IFRS Interpretations Committee conducted the sessions. The participants have given their commitment to train other accounting professionals in their respective countries in the use of IFRS for SMEs, thereby improving the overall quality of the financial reporting in the ECCU.

The Van Geest Foundation is a UK based registered charity, founded in 1977 by the late John & Lucille Van Geest and currently operates under a Board of Trustees, dealing primarily with matters of cancer research, wellness, infirmity and social circumstances. BF

The train-the-trainers IFRS workshop was one of the main deliverables of a World Bank sponsored project to strengthen the institutional capacity of the ICAEC. The next major deliverable is the preparation of a Continuing Professional Development (CPD) education programme for members of the ICAEC. BF

BusinessFocus Sept / Oct

BIZZ BUZZ

Jamaica and Trinidad give go-ahead to low cost airline

merged entity from the low fare factor is worrying Trinidad & Tobago’s Transport Minister, Jack Warner, who originally claimed he knew absolutely nothing about the first announcement by the new airline that it was offering tickets to Port of Spain from Barbados. The Trinidad and Jamaica aviation and tourism officials raised all sorts of initial concerns, including safety issues relating to the 24-year-old REDjet fleet. The delays and resulting allegations and responses led to fierce political exchanges between Caribbean leaders with a stake in the debate.

Now Seeking OECS Routes The Caribbean’s first low budget carrier, REDjet, finally got permission to fly to Jamaica and Trinidad & Tobago from Barbados in mid-July. Now with Caricom’s four largest territories (including Guyana) under its wings, the new airline is seeking to fly into and out of St. Lucia and Grenada, with an eye on the wider OECS market. In the case of St. Lucia, the airline’s request for permission is being advertised in the local press, with invitations from the government to interested persons or entities who so wish to share any concerns they may have. REDjet’s Chairman and Chief Executive Officer, Ian Burns says his company has also already held “preliminary discussions” with the Grenada Airlift Committee, as a first step to making an official application to service the route. Grenada’s Tourism and Civil Aviation Minister, Peter David, says Government will be prepared to consider all factors in the interest of the tourism sector and the Grenada economy. REDjet estimates it could commence operations in and out of Grenada by October 2011. In April, the Barbados-based REDjet announced that it would be flying between Jamaica and Barbados as of May 8, but it faced administrative hurdles in both countries, with observers and industry analysts saying the hiccups were more associated with competitive concerns than anything else.

With the way now cleared for REDjet to fly to Jamaica and Trinidad, Caribbean travellers are looking forward to being able to pay the low fare of US $9.99 – plus Government Taxes – to go beyond Guyana. OECS nationals, in St. Lucia and Grenada in the first instance, are also looking forward to being able to take advantage of low-cost air travel to the larger and smaller destinations. Meanwhile, recent indications have also raised the possibility of other low-cost fares and increased air services by other airlines serving the region. JetBlue, already operating into St. Lucia from New York, is seeking to increase its number of destinations to include other OECS and Caribbean destinations, while Air Canada says it is also looking at the possibility of a low cost flight to the Caribbean. BF

ST. LUCIA ELECTRICAL & MECHANICAL SERVICES LTD (SLEAMS)

Full-Service Electrical Contractors founded in 1996

Reliable, Respected & Versatile Committed to Safety, Health & Enviromental Regulations

OUR SERVICES INCLUDE • New Electrical Systems: • Domestic • Commercial • Industrial

The maximum administrative delays in responses from Kingston and Port of Spain, in the eyes of most, had to do with the Trinidad & Tobago’s Caribbean Airlines Limited (CAL) acquisition of Air Jamaica. The delays forced REDjet to cancel its operations for a period, restricting it to the Barbados- Guyana route, and even promising to reimburse any pre-paid passengers should their tickets be compromised.

• New Construction and Installation

“I can only say that our business model is tried and tested around the world and the low fare model works extremely well,” said Burns. “The best low fare models around the world are the most profitable airlines in the world and a recession is a great time for a low fare airline. People are much more conscious of how much they can spend on travel,” he added.

• Trouble Shooting, Testing and Repair

But the competition that’s likely to come to the CAL/Air Jamaica BusinessFocus Sept / Oct

• Upgrades, Renovations and Expansion • Alterations • Power Wiring • Maintenance: • Mini Split Unit • AC Installation

P.O. Box CP5328, Summersdale, St. Lucia Phone: 758.451.6173/8769 mobile:758.721.7808 Fax: 758.452.5447 e-mail: sleams@candw.lc

Now Open

BAY OPTICAL

Dr. Shah

Ophthalmologist

“See Better, Look Great”

Comprehensive Eye Examinations Designer Frames/Sunglasses Contact Lenses Evening Appointments We carry Brands such as:

We specialize In The Fabrication Of Kitchen & Bathroom Counter-Top

• Quartz • Granite • Marble • Premiere Grade Granite Grande Riviere, Gros Islet, St. Lucia W. I. Tel: 1(758) 450-4348 Fax: 1(758) 450 3643 1(758) 458-9839

Bay Walk Mall, Rodney Bay. Tel: 451-2000

West Indies General Insurance Company Limited

Contractors (All Risks) Computer (All Risks) Householders Motor Vehicles Money Fire Burglary Travel Insurance Goods in Transit Liability Marine

We cover the things you care for... A member of The Julian R. Hunte Group of Companies

Looking for 1st Class IT Support from a Microsoft Partner Small Business Specialist? Need help in taking your IT infrastructure to the next level and getting more out of your IT investment?

Manoel Street, P.O. Box 64, Castries, St. Lucia, W.I.

Tel: 452-2230/1 Fax: 453-7671 email:wiginsurance@candw.lc

West Technology Group Inc, Telephone: 758-458-WEST(9378) Email us at info@westtg.com.

BusinessFocus Sept / Oct

BIZZ BUZZ

Sagicor & LIME

Team Up to Reward Teachers Sagicor General Insurance Inc. partnered with LIME in a regional promotion that allowed teachers from St Lucia, Dominica, Antigua, Barbados and Trinidad to enter a series of draws for a chance to win laptops from Sagicor General and state-of-the-art Blackberry smartphones along with free data service, and free internet service, courtesy of LIME. To qualify, the teachers had to insure their private properties or their motor vehicles with Sagicor General. The offer applies to new policies signed up between April 1st, 2010 and March 31st, 2011. Mrs Wyn Jean-Griffith, a member of the St Joseph’s Convent Math department, is the winner from St Lucia. She found out she had won after receiving a surprise visit from Senior Underwriter at Sagicor, Ms Gillian Polius and LIME’s Sagicor Corporate Account Manager, Placide Noelien. They came to give her the great news. Mrs. Jean-Griffith has three policies with Sagicor General and is a proud LIME customer. She won a laptop from Sagicor and a BlackBerry from LIME, plus one month free data on her BlackBerry and one month free Internet service. Sagicor also gave the school a brand new desktop computer. Mrs Wyn Jean-Griffith expressed her gratitude to Sagicor General and LIME. She is one of several teachers from across the Caribbean who won fabulous prizes from Sagicor and LIME in this joint regional promotion. Sagicor also provided a desktop computer to each of their schools. “Sagicor General views teachers as one of the main pillars of a sound and progressive society and we salute them for devoting their lives to educating the nation’s children,” said Ms Polius. “As a result, Sagicor General will continue to offer teachers special discounts on their private motor and property insurances. Along with LIME, we take the opportunity to thank the many teachers who opted to protect their investments with an AM Best A rated, financially strong company which has been in the insurance business since 1880,” Ms Polius added. LIME Corporate Account Manager, Placide Noelien said, “LIME is always happy to give back, especially to our teachers who, along with parents, are the main source of knowledge and values for the region’s children. They deserve to be rewarded for their hard work and dedication. We are delighted to give them the opportunity to win some special treats and enjoy the best services and world-class handsets from LIME.” The St Lucia prize draw was supervised by Miss Vanessa Granderson an Auditor of PriceWaterhouseCoopers. BF BusinessFocus Sept / Oct

and

Pump in US$1M to Help Revive Local Health Sector Hess Oil Corporation, which has been operating a trans-shipment terminal in St. Lucia since 1980, has contributed half a million US dollars to purchase medical supplies and equipment needed by local health institutions after being damaged by Hurricane Tomas. Hess’ half a million was matched by the International Medical Corps (IMC), a US-based, locally represented, humanitarian, non-profit organisation established in 1984 and working out of 75 countries. The island’s Health Minister, Dr Keith Mondesir, said the total received sum of EC $2.7 million “will be used to purchase needed supplies at facilities damaged by last year’s hurricane.” IMC Program Director, Kimberly Mathurin, making the presentation, noted that the IMC’s local team “is fully St. Lucian” and said they were “really proud to assist with US $500,000 worth of supplies from our donor, Hess, which we’ve also matched.” She added, “We’re donating all this with the hope that it will benefit all St. Lucians.” The Program Director pointed out that the IMC’s mandate is “to provide relief by delivering medical services to those impacted by war, natural disaster and disease.” Hess Oil Corporation has been a significant contributor to health and education facilities on the island. The company built several secondary schools around the island as an independence gift and has been assisting the island’s energy storage efforts by having all fuel imported by local companies for sale located at its vast compound just outside Castries. The company, based at Cul De Sac on the island’s North West coast, has an exclusive license and agreement with the Government of St. Lucia to import oil from distant supply locations for onward delivery to its refineries in the Caribbean and mainland USA. BF

PROTECTOR

SECURITY SYSTEMS

WATER AND S EWERAGE COMPANY INC. W (WASCO)

Anse la Raye Treatment Plant

Water Tips to Customers:

During an emergency, if the safety of a drinking water supply is questionable, take the appropriate actions to protect your health. • Boil drinking water for a minimum of 5-10 minutes • Obtain bottled water • Treat the water with unscented liquid bleach

SERVICE

SUPPORT

MAINTENANCE

Burglar Alarms - Hard Wire & Wireless Access Control 24hrs Monitoring & Response Service Morne Du Don, Castries, St. Lucia

(758)720.8080

Tel: e-mail: protecsecure@gmail.com

PHYSIOTHERAPHY SERVICES

Disinfecting with bleach may be more practical than boiling especially in cases when large volumes of treated water are needed and there is no means available for boiling. Measurement guide for treating water with unscented bleach is as follows: • Two drops of bleach to one quart of water • Eight drops of bleach to one gallon of water • Half teaspoon of bleach to five gallons of water It is important to let the mixture stand for thirty minutes prior to use to allow the chlorine time to kill any harmful organisms.

Lingerie

Treat water for making drinks, preparing food or brushing teeth the same as water for drinking. Once disinfected store water only in clean containers.

Plus

For All Your Intimate Apparel Needs

WHAT IS PHYSIOTHERAPHY

Physiotheraphy is a science-based health care profession which views human movement as central to the health and well-being of individuals. Its practice is directed at evaluating restoring and maintaining physical function.

Seductive Wear (A Large Variety) Hospital Wear Girdles Bra & Panty Set Garter Belts Robes - His & Hers (Can Be Personalized) Weddings-Total Control Body Wear Silk & Cotton Boxers For Men Special Request orders for the XXXtra -ordinary

PHYSIOTHERAPHY services provides treatment for: In Patients at Tapion Hospital

• Pre and Post-operative Surgical Conditions • Chest Conditions • Orthopaedic Conditions • Neurological Conditions • Arthritic Conditions • Home Visits and much more... P. O. Box 1068, Castries, St. Lucia W. I. Tel: (758) 452 3582 • Fax: (758) 452 5857 • Email physioservices@candw.lc

COMING

SOON

A wide variety of Plus Sizes & X-Shop Stuff

#6 Bridge Street, Castries, St. Lucia W.I. Tel: 758.451.7200 Opposite the General post office E: alintimate@hotmail.com BusinessFocus Sept / Oct

HEALTH HEALTH& &WELLNESS WELLNESS

BusinessFocus Sept / Oct BusinessFocus Sept / Oct

90 90

About the Author Dr. James Sutton is a practising physician in Antigua Courtesy Business Focus Antigua

BusinessFocus Sept / Oct BusinessFocus Sept / Oct

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events 2011

REGIONAL TRADE SHOWS AND CONFERENCES

IF YOU HAVE MISSED THIS YEAR’S EVENTS, ENSURE TO PENCIL PLANS FOR ATTENDING NEXT YEAR. LOOK OUT FOR NEW DATES.

DESIGN CARIBBEAN (FORMERLY THE CARIBBEAN GIFT & CRAFT SHOW) 1-4 September, 2011 Santo Domingo, Dominican Republic Design Caribbean presents a unique opportunity to introduce your product to buyers and the media. We guarantee exposure by providing interested par es with informa on on all products exhibited. Products will also be photographed and the photographs featured on our website and other promo onal material. In addi on to providing a market place for your products, Design Caribbean creates an opportunity to exchange informa on about products and marke ng. For further info: www.designcaribbean.com

LA CUMBRE 2011 – THE AMERICAS INDUSTRY SUMMIT 7th – 9th September 2011 Las Vegas, USA La Cumbre, The Americas´ Travel Industry Summit is an annual, dynamic, must a end, three day event, where you can discover a diverse range of exhibitors from the travel & tourism industry and meet with the leading interna onal travel professionals. For further info: www.lacumbre.com

GUYEXPO – GUYANA’S LARGEST TRADE & MANUFACTURERS EXPOSITION End of September 2011 Na onal Exhibi on Complex, Sophia, Georgetown, Guyana GuyExpo is the premier exposi on and trade fair offering business associates the opportunity to meet, network and nego ate with interna onal companies and establishments, as well as showcase their skills, talents and crea ve works. This annual event provides a pla orm for both local and foreign businesses: importers, exporters, retailers, wholesalers. It fuses together a wide cross sec on of producers of handicra , furniture, garments, jewellery, and hor culture, pharmaceu cals, tourism, informa on technology and most of all our culture. This ideal se ng provides the opportunity for businesses to increase their compe veness and efficiency and foster growth.

18th ANNUAL FCCA CRUISE CONFERENCE & TRADE SHOW 3-7 October 2011 , San Juan, Puerto Rico For many cruise execu ves, des na ons, suppliers and tour operators, the annual FCCA Cruise Conference & Trade Show is the premier industry event of the year to meet with key industry players, analyze trends and discuss current issues. It is because of the unique forum provided by the Conference that nearly 1,000 cruise industry partners, including approximately 100 cruise execu ves, a end each year. For further info: www.f-cca.com

CARIBBEAN SME BUSINESS TECHNOLOGY EXPO & CONFERENCE 27th – 29th October, 2011 – Rose Hall, Montego Bay, Jamaica The conference will include the interna onal, regional and local speakers sharing with par cipants’ trends, opportuni es and challenges of social media and technology in moderated conference panels, keynote sessions,featured interac ve presenta ons and workshops exploring a variety of topics. For further info: www.caribiztech.wordpress.com

BusinessFocus Sept / Oct

events 2011 THE CARIBBEAN RUM & BEER FESTIVAL 2011 28-29th October 2011 If you want to experience a range of outstanding, world-class rum and beer products then this is the event for you. During the 2-day event dis lleries, breweries and distributors are invited to set up stalls and promote their products by providing patrons with the opportunity to sample and purchase a host of diverse rum and beer beverages. These same companies also vie fiercely for the Gold, Silver & Bronze 2011 Caribbean Alcohol Beverage (CAB) Awards. For further info: www.rumandbeerfes val.com/

GULF & CARIBBEAN FISHERIES INSTITUTE – 64th ANNUAL MEETING 31st October – 4th November 2011, Puerto Morelos, Mexico The 64th GCFI will be comprised on oral sessions and poster sessions. All oral presenta ons will be simultaneously interpreted into English and Spanish (French is pending). The keynote presenta on will be on “Conspicuous consump on and the hidden costs of luxury seafood”. Other sessions & workshops will be on “Integra ng management of wetlands, mangroves& coral reef ecosystems for conserva on” and “Invasive Lionfish control and management”. For further info: www.gcfi.org

WORLD TRAVEL MARKET 2011 7th – 10th November 2011, ExCel, London, UK Staged annually in London, World Travel Market - the leading global event for the travel industry - is a vibrant must a¤end four-day business-to-business event presen ng a diverse range of des na ons and industry sectors to UK and Interna onal travel professionals. It is a unique opportunity for the whole global travel trade to meet, network, nego ate and conduct business. By a¤ending World Travel Market, par cipants efficiently, effec vely and produc vely gain immediate compe ve advantage for their business and stay abreast with the latest developments in the travel industry. For further info: www.wtmlondon.com

CAIB’s 38TH ANNUAL GENERAL MEETING & CONFERENCE 16-19th November, 2011, Paramaribo, Suriname Caribbean Associa on of Indigenous Banks, Inc (CAIB) is a community of locally incorporated/owned banks and other financial ins tu ons in the Caribbean/CARICOM Region, which provides opportuni es for discussion on issues impac ng the indigenous banking/financial services community as well as for the sharing of experiences and networking. For Further info: www.caibinc.info

CARIBBEAN HIV CONFERENCE 18th – 21st November 2011, The Bahamas The purpose of this conference is to assist in improving regional responses to HIV through the applica on of research, knowledge, lessons learnt from collabora on and good prac ces throughout the Caribbean. For further info: www.2011caribbeanhivconference.org

BusinessFocus Sept / Oct

MAJOR MOVES

IRWIN LAROCQUE Caricom Secretary General Irwin Larocque a national of the Commonwealth of Dominica, has been selected to serve as the seventh Secretary-General of the Caribbean Community (CARICOM). He replaces Edwin Carrington of Trinidad and Tobago, who resigned the post earlier this year after 18 years at the helm of the regional grouping. LaRocque, 56, who was picked for the job by Caricom Heads of Government, served as Assistant Secretary-General for Trade and Economic Integration at the CARICOM Secretariat in Guyana since September 2005. The new top man at the Caricom Secretariat was educated at Queenâ&#x20AC;&#x2122;s College, the New School for Social Research and New York University, and he majored in Political Philosophy, Political Economics and Economics, respectively. Before his appointment as Assistant Secretary-General, he served as Permanent Secretary in various Ministries in Dominica for more than 14 years, including the Ministries of Trade, Industry, Enterprise BusinessFocus Sept / Oct

Development, Tourism and Foreign Affairs, where he headed the diplomatic service. He also served as the principal advisor to the Government of Dominica on all matters pertaining to economic integration and regional and international trade. LaRocque was Dominicaâ&#x20AC;&#x2122;s Senior Policy Adviser on the revision of the original Treaty of Chaguaramas, and served on the CARICOM Inter Governmental Task Force which drafted the Revised Treaty of Chaguaramas. The new Caricom Secretary-General has a wealth of experience in management, public administration, economic development, trade, foreign affairs and diplomacy. During the period when Dominica underwent a structural adjustment programme, he was a member of the Cabinet-appointed Public Sector Reform Task Force (which included the private sector, trade unions and non-governmental organizations) with responsibility for the overall management, planning and performance review of the public sector reform process. He also served as the Chairman of the Consultative Working Group, a public/private sector consultative and advisory committee appointed by the Dominica Cabinet, with focus on the enabling environment for private sector development and growth. LaRocque has served on several boards, including those of the Caribbean Community Climate Change Centre, Caribbean Export, the Dominica Agricultural, Industrial and Development Bank and the Dominica National Development Corporation. As Assistant Caricom Secretary-General, he provided strategic leadership for the continuing implementation and further development of the CARICOM Single Market and Economy (CSME), as well as the Sectoral Programmes of the Community, including agriculture, services, industry and energy. Ambassador LaRocque has managed diplomatic negotiations with third world countries and international development partners which required political acumen for successful completion.

He has testified, on behalf of the Community, before the US International Trade Commission on trade relations between the Caribbean and the US, with emphasis on extending and expanding the Caribbean Basin Initiative (CBI). LaRocque is currently the Co-Chair of the US-CARICOM Trade and Investment Council and is leading the negotiations with the United States Trade Representative Office for a new Trade and Investment Framework Agreement. He has gained considerable experience with the European arrangements through his involvement in developing and negotiating with the Commission of the European Union, development assistance under the European Development Fund.

Mr. Trevor Louisy, Managing Director of St. Lucia Electricity Services Limited (LUCELEC), has been elected to the Board of The Barbados Light & Power Company Limited. Mr. Louisy holds a BSc (Hons) in Electrical Engineering from the University of the West Indies and has completed advanced training in engineering management as well as courses in strategic planning and business management at various institutions in the Caribbean, Canada, United Kingdom, United States of America and Israel. Mr. Louisy joined LUCELEC in 1986 as a trainee engineer, moved through the ranks and in 1995 was appointed Assistant Chief Engineer. In 1996, he was seconded to Anguilla Electricity Company Limited

MAJOR MOVES (ANGLEC) where he served as General Manager from February 1996 to August 1997. He was appointed Chief Engineer at LUCELEC in September 1997 and Managing Director in 2004, and has served as a Director of the Board of LUCELEC since. He is a member of the St. Lucia Association of Professional Engineers, a member of the Executive Committee of the St. Lucia Chamber of Commerce, Industry & Agriculture, and a member of the Saint Lucia National Trust. He is presently a member of the CARILEC Board of Directors and has served as Chairman of the regional organisation. Mr. Louisy brings more than twenty years of professional knowledge and technical expertise to the Board of the Barbados Light & Power Company Limited.

The Secretariat of the Pan Caribbean Partnership against HIV and AIDS (PANCAP), has a new Regional Director - Ms. Juliet BynoeSutherland. A national of Barbados and an attorney-at-Law by profession, Ms. Bynoe-Sutherland brings to the post a background in law, political science, health policy and planning. She has had more than 16 years of regional and international experience in public health, having worked in Barbados, the United Kingdom, and the USA in key areas relevant to HIV and AIDS, specifically health systems reform, tertiary care, palliative care and national AIDS programme planning.

Most notably, she served as a senior Health Planner with the Ministry of Health, Barbados, and held appointments as Research Fellow and Lecturer with the London School of Hygiene and Tropical Medicine, University College, London, and University of the West Indies, HIV/AIDS Research Programme (UWIHARP). She also led private sector HIV initiatives as Executive Director of the AIDS Foundation of Barbados. A committed gender advocate, she was recently appointed as a Regional Gender Advocate for the Caribbean Coalition on Women and Girls/UN Women. She is interested in policy and law reform in the Caribbean Region, particularly in enhancing the human rights of PLHIV, children, and vulnerable communities. In addition to incorporating an emphasis on gender and human rights advocacy, she intends her tenure as director to be characterised by a re-engagement with countries and adoption of new strategies for enhancing PANCAP’s coordination and resource mobilization functions. Ms. Bynoe-Sutherland stated that it was a privilege to have been selected to serve the region at this critical juncture of PANCAP’s existence, and to help to play a role in fostering the regional movement. “I look forward to working with the team and our committed partners to end the dual epidemic of HIV and related stigma, she said.” The new director disclosed that her immediate focus will be “to shift the organisation into being a more country-focused, target driven, learning organization which is able to respond flexibly to emerging needs. “I am cognizant that we are all now working in a resourceconstrained environment. However, by focusing on results and value for money, PANCAP will be able to attract resources and maintain the confidence of our leaders”, she added.

Ms. Priscilla Charles, the newly appointed B u s i n e s s Development Manager of First Citizens Investment Services Limited, brings to the position over 23 years experience in banking and finance. Prior to this appointment, Ms. Charles was employed with the Antigua based Eastern Caribbean Amalgamated Bank (ECAB) as Senior Manager – Credit for approximately three years. As a senior manager at ECAB, she successfully spearheaded the drive to restructure the Credit Department. Over the past 16 years, Ms. Charles has held supervisory and management positions at various financial institutions (including Barclays Bank PLC, National Research & Development Foundation (NRDF), and 1st National Bank St Lucia Ltd.), providing overall leadership and strategic guidance in the areas of customer service, business development and counseling. The experience gained has been quite instrumental in fostering her professional agility. Ms. Charles holds an MBA in Marketing from the University of Leicester (UK) as well as Certification in Management Studies and Banking. She is registered with the International Labour Organisation (ILO) as a Certified Trainer. Priscilla possesses effective selling and communication skills and has an outgoing personality. She prides herself on getting to know the customers, their specific business needs and providing the best service to suit the unique nature of their business and financial structures. We have no doubt that First Citizens Investment Services Ltd. will benefit tremendously from her experience. BusinessFocus Sept / Oct

NEW COMPANY REGISTRATIONS

COMPANY

NATURE OF BUSINESS

DIRECTORS

Building and sale of timber homes

Soraya Roberts

Motor Sports Facilities (St.Lucia) Inc

Entertainment & venue management

Neil Beepat

Carr Management Group Inc

Consultancy services, business management

Donald Carr, Christene Repass

UrDesign Timber Homes (St.Lucia) Ltd.

My Dream Wedding Inc Wedding consultancy, wedding planner

Davis Barnard, Catherine Biscette Zaniah Biscette

Redstone Investments Inc.

Effrem Owen Edgar

Property development, marketing, sales and other investments

Hubert Daniel Construction Ltd Construction of industrial residential building

Hubert Daniel,Gabriela Daniel Delbert Hubert Daniel

SamFi Gardens Ltd.

To carry on the trade of property rental inclusive of apartments and condominiums to local & foreigners with touristic related flavour

Philina Francois-Augier Shari Augier Kassam Augier

Reel Rush Inc.

Graphic designing, T Shirt printing and retail, shipping

Kervin Medouze

Cero Design Services Ltd.

Architectural services & construction designs

Keisha Cenac Alejandro Rosa

St.Lucia Agricultural Trading Agricultural products and marketing company Company Inc.

Stephen Best,Mc Hale Andrew Kerde Severin, Elrus Elcock Claudius Emmanuel

Fortville Inn Limited

Orville Liburd, Christine Liburd

To carry on the business of accommodation and restaurateur

Yorke Security Services (YSS) Inc. Security services

Randall Oliver Yorke Maria Thomas Brenda Yorke

Tradevin Ltd

General trading

Vipil Balwani

Captain Mikeâ&#x20AC;&#x2122;s Bar & Grill Ltd.

Restaurant

Bruce Hackshaw, George Bovell

Food Center St.Lucia

Business of trading consumer goods

A Hipp Service

Import & export Services

Yvor Nassief,David Kawaja

Alban Frederick Hippolyte

Felix-Ducrot Ltd. Property ownership & development

Frederick T.J. Ducrot Rudolph Felix, Scholastica Merle

West Indies Chopper Ltd.

Restaurant

Shawn Lewis

Cellucian Ltd.

Cell phone assembly

George Benson

BusinessFocus Sept / Oct

NEW COMPANY REGISTRATIONS

COMPANY

NATURE OF BUSINESS

DIRECTORS

Temptation Perfumes and Cosmetics Inc. General merchandising

Natasha Daniel, George Daniel Mary Daniel

Good Guys Construction Inc.

The business of construction

Byron Gajadhar

Doreen Ventures Inc.

Management of real estate properties nationwide, promoting healthy living and lifestyles

Collistus A. Charles Christine Ann Charles

Muslim Society of Saint Establishment of a Muslim society Lucia Limited

Abdullah Darnly Allain Shiraz Ali, Menan Deosaran

F.A.C.E to Face Limited Consultancy

Tracey Ann Farrin David Farrin

Taurus Inc.

PIF Corporate Services Inc.

Property holding

Jayven Limited

Residential lettings

Steven Birtles, Jeanette Andrea

Quality Farms Limited

Poultry farming and other related businesses

Camron John

Flash International Ltd.

To carry on the business of general merchants and to buy and sell and deal in goods of all kinds both retail and wholesale

Wadi N. Zakhour Norma A. Chreiki

Edward 4 Education, Incorporation

Assisting and aiding the education sector and providing assistance to students and schools in a charitable manner

Thomas Aaron Ladner Claudia Edward George Barnard

E&T Enterprise Ltd. Retail of clothing, shoes and accessories

Emmanuel Mc. Lorren Martha Mc Lorren Catherine Sifflet

Lyndsayâ&#x20AC;&#x2122;s Holdings & Investments Ltd.

Eugene Nelson Ferlyn Nelson

Cash advances to the public on gold, precious metals and other jewellery. Buying & selling of property and real estate in general

Sinson Holdings ltd. Real estate, rental property, rental of vehicles

Brett Francis Sinson Henri Clive Sinson Stephen Paul Sinson

CannonBall-Inc. Software development & artwork

Canice Pierre Sheran Emmanuel

Savbay Investments Ltd. Property holdings company

Lyndell A.G. Gordon Gregory Fevrier

Life Inc.

Christopher Talal Tohme

Water production

BusinessFocus Sept / Oct

NEW COMPANY REGISTRATIONS

COMPANY

NATURE OF BUSINESS

DIRECTORS

Asset Portfolio and Consultancy Consultancy, asset portfolio (APand C) Services Ltd.

Timothy Mc Donald Greene Dinah Hippolyte Cliviston Greene

Holiday Taxi Limited

Taxi Service, transfers of tours from hotels, generally to do any other business that is not restricted by law

Joseph Marius, Robert Lewis Francois Felix, Hugo Alcide Matthew Hutchinson

Surveying Solutions Limited

Surveying and land management services

John Gregory Labadie

Toodles Inc. Property holding

Christopher Alexander, Bota McNamara, Derek Clarke

Caribbean Financial Systems Consultancy Ltd.

Accountants software, point of sales software

Kerie J. Dantes

Life Inc.

Water production

Christopher Talal Tohme

Saint Lucia Agricultural Holding Company Ltd.

To hold equity in various companies as may be desired

Cosmos Richardson Isaac Anthony

The Volger Group Ltd.

Consultancy services

Michael R. Brown

Skeeterz Rum Bar Grill Inc.

Restaurant & bar

Margaret Jean-Wilson

Giggles Incorporated Family entertained and restaurant

Crowne Nominee Services Limited

Kay-Dee Inc.

Manufacturing of souvenir dolls, carnival body art, box packaging and T- shirt printing

Gilland Avril, Daryl Raymond Gasper George, Nathalie Williams

Do Something World (St Lucia) Incorporated

The organisation is geared towards promoting the love of Christ in the nation through business, social and religious activities whilst fostering a spirit of volunteerism and community service

Timothy Robinson, Emmanuel McLorren Michael Francis

Elm Investments Ltd. Property holdings company

Edmond Oâ&#x20AC;&#x2122;Dwyer, Barbara Singh Doris Carter-Nandlal Rhory McNamara

Clear Ocean Technology Inc.

Water production

Christopher Talal Tohme

Escape Charters Limited

Boat charters

Kent Glace, Sophia Betts

Harlequin Air Limited

Travel & airline services, commercial flight services

David Edward Ames

T MC Lorren Enterprises Ltd.

Arts, craft, literature, theatre production

Emmanuel Mc Lorren

BusinessFocus Sept / Oct