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Your business with Bernadette
Bernadette Barrow Assistant General Manager, SME National Commercial Bank
T
he Nation Builder Awards are a tremendous source of pride for us here at National Commercial Bank. Through this programme, we are able to recognise and celebrate the outstanding achievements of Jamaica’s small and medium-sized enterprises, not only for operating successful businesses, but for their commitment to giving back to their communities and doing their part to help develop the country. Over the five-year history of the awards, we have rewarded the work of a number of outstanding SME companies and, since last year, with our Impact award, the accomplishments of an equally exceptional non-profit organisation, the Mustard Seed Communities. This year will be no different as a new crop of winners takes centre stage. We are proud to celebrate the SME sector and encourage its growth and development, since this is the engine that drives the Jamaican economy. In this issue of clickSME, we profile the winner of last year’s Nation Builder Award, Jamaica Standard Products
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Company. The business was launched in 1942 as a trader in produce such as goat skin, cola nut (bissy), sarsaparilla, pimento, ginger and honey. Over the years, it has grown to become the single largest growers and processors of coffee in Jamaica, exporting its premium products to markets in Europe, United States, Japan and China. We hope this outstanding success story spurs you to keep developing your own business. Applications for this year’s NCB Nation Builder Awards close on July 31. There is still time for your business to be among this year’s winners. If you have any comments or questions, email me at barrowbd@jncb.com or call me at 935-2065. I look forward to hearing from you!
fined! Applications now open
for the 5th NCB Nation Builder Awards
N
ational Commercial Bank Jamaica Limited (NCB) recently launched the fifth staging of its annual Nation Builder Awards (NBA), which recognises the achievements of its small and medium-sized business clients. Applications are now being accepted at all NCB branches island wide. The deadline for submissions is July 31.
The partners for the 2012 awards are The Gleaner Company, LIME Jamaica, Fujitsu Caribbean (Jamaica), the Private Sector Organization of Jamaica, Women Business Owners, the Lions Club of New Kingston, the University of the West Indies, HEART Trust NTA and the Jamaica Business Development Centre.
and NCB Vision. The nominees will be selected by an expert panel of judges, who will then choose the national winner in each category. Winners will be announced at the Nation Builder Awards Ceremony later this year.
said Bernadette Barrow, assistant general manager, Small and Medium Enterprises. “This programme has grown over the five years through, among other things, the introduction of new categories such as the Impact and Vision Awards and we look forward to another exciting year when we will unveil outstanding entrepreneurs who have made their mark in their various areas of business.”
Let NCB give your business the “Twenty twelve is an important year for NCB as we mark you175th anniversary of the bank. We take particular Ten nominees each will compete in recognition six categories for the that the highly coveted awards. The categories are: Nation Builder, pride in the Nation Builder Awards, which is steeped in have earned. Innovation, Start-up, Women in Business, NCB Impact the principle of not only doing well, but doing good,”
Each national awardee will receive a combination of cash, products and services from NCB and its partners, technical and capacity-building training, financial consultation, scholarships and/or marketing support.
nding business The theme for this year’s awards is Entrepreneurs Building nd nation building.
Communities…Building Jamaica, and will again celebrate
SME following customers that not only demonstrate outstanding ds in the
entrepreneurial performance but strong community involvement as well. The NBA programme is supported by partners who give recognition and assistance to the nominees and help them to develop their businesses throughout the programme.
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The 2011 Nation Builder Award was given to Jamaica Standard Products Company. The Innovation award went to Spatial Innovision Limited, while the Start-Up awardee was DDB Island 1962 Company Limited. The Women in Business award went to Rondel Village, with Natalie Fletcher and Candace Carby copping the Vision award. Mustard Seed Communities received the Impact Award.
1-888-NCB-FIRST | www.jncb.com
Your success defined!
Let NCB give your business the recognition that you have earned.
The NCB Nation Builder Awards
recognize small and medium enterprises that demonstrate outstanding business performance and clear contribution to community development and nation building. Applications are now open for the 2012 NCB Nation Builder Awards in the following categories: · · · · · ·
Nation Builder Start Up Innovation Women Business Owners Impact Vision
Visit the nearest NCB branch or www.jncb.com to apply or nominate an individual or business.
Application deadline: July 31, 2012 Partners
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The coffee connoisseurs: Jamaica Standard Products Company rewarded for 70 years of excellence
Top left: John O ‘Jackie’ Minott, Managing Director of Jamaica Standard Products Company Ltd. Top right: Minott (centre) receives the 2011 Nation Builder Award from Michael Lee Chin (left) and Patrick Hylton, NCB Group Managing Director (right). Centre: Minott (right) with son John and daughter-in-law Kerry at the 2011 Nation Builder Awards.
L
ast year, Jamaica Standard Products Company (JSP) celebrated 69 years of successful existence by winning the titular 2011 National Commercial Bank’s Nation Builder Award. The company, launched in 1942, was rewarded for its outstanding business performance over the years as well as its strong record of community involvement.
“[The award is] very important. It means that you are the top person in the field. People who get the Nation Builder Award have to be competent and it just shows that we are a competent company.”
The business started out as a trader in produce such as goat skin, cola nut (bissy), sarsaparilla, pimento, ginger and honey. Today, it is the largest single growers and processors of coffee in the country, exporting three premium brands to markets in Europe, United States, Japan and China: Wallenford Blue Jamaica Blue Mountain Coffee, Baronhall Estate Jamaican Gourmet Coffee and flagship brand, Jamaica High Mountain Coffee.
business” won the top award. “Kingston seems to get a fair amount of publicity and I was happy that I was able to bring some amount of [joy] to us in the country,” he said.
Managing Director Jackie Minott is still feeling “on top of the world” about the award, which he believes will give JSP a boost in publicity. He is especially proud that a “country 5
JSP, based in Manchester, is headed by Jackie and his son, John, with a team of more than 150 permanent employees and in excess of 500 seasonal pickers. Over its 70-year history, JSP has had a number of accomplishments, including the distinction of being the only coffee company in the country to be awarded ISO 9001:2008 certification, which means the company meets the high quality management standards.
Top left: Minott (2nd right) chats with entertainers Queen Ifrica and Tony Rebel and former Prime Minister PJ Patterson after last year’s High Mountain 5k and 10k road race event. Bottom left: Minott talks with William Shagoury after an appreciation dinner held in his honour by the Manchester Parish Development Committee in 2010. Top right: Minott and Sharon J Clarke, Human Resource Manager at JSP. Bottom right: Minott (centre) with Anthony Bell and Doreen Frankson at an EXIM Bank function in 2010.
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For Minott, receiving the coveted Nation Builder Award means recognition that the company is doing something right. “[The award is] very important. It means that you are the top person in the field. People who get the Nation Builder Award have to be competent and it just shows that we are a competent company,” he said. “We will be 70 years old this year and I suppose it is a family tradition. My late father would be turning over in his grave in happiness to know that after 70 years, this is what we have done for the company.”
held in the parish and say to me that they do more business on our race day than they do on Grand Market,” he said.
In addition to running a ‘competent’ business, Minott believes JSP stood out to the judges because of its history of community involvement. One of the company’s major supported events is the High Mountain 5k and 10k road races, which are held every last Sunday in January. Many residents sell goods to the hundreds of people who descend on the community for the race. “They have told me that it is the biggest event that is
JSP has faced a few challenges over the years, especially during the recent global recession, but Minott commended NCB for standing by the company. “Sometimes you’re up and sometimes you’re down and you have to accept that every day can’t be like Christmas. You have to accept the bad and the good. That is how business operates in any country,” he said. “We think that better days are around the corner.”
Going forward, JSP is looking to expand its 70-acre Blue Baron Farm in the Blue Mountains by 40 acres. “Then we would be top dog in both Blue Mountain and High Mountain,” he said. “In addition to this, we are investigating the possibility of setting up an instant plant in Jamaica, which I think will be beneficial to us, but it takes a lot of money. Therefore, if we can find the right partners, we would be happy to get ourselves involved.”
National Commercial Bank’s Nation Builder Awards
Lauded by 2011 recipients
Left: Giuseppe Mafessanti accepts a donation from the NCB Foundation from Brian Boothe, Senior Assistant General Manager of Corporate Banking Division – Western Region, earlier this month. Right: John Minott, (3rd left), Managing Director of Jamaica Standard Products Company Ltd - overall winner of the NCB Nation Builder Award 2011 - receives a Mitel Voice and Internet solution telephony system from Vaughn Powell (left), SME Sales Representative, LIME and Vennis Williamson (2nd left), Head of Department, SME Business Sales, LIME; while Mervyn Eyre (second right), President & CEO of Fuijitsu hands over a Notebook, assisted by Bernadette Barrow (right), Assistant General Manager, Small and Medium Enterprises, NCB.
“I
would encourage entrepreneurs to enter their businesses for the National Commercial Bank’s National Builder Awards as I believe the programme offers an opportunity for greater awareness of the intricacies of operating a business and an avenue for greater public awareness of the products and services being offered,” said Jackie Minott, Managing Director of Jamaica Standard Products Company Limited. His company was declared the overall winner of the NCB Nation Builder Award (NBA) 2011, at a gala ceremony held at the Jamaica Pegasus Hotel. Minott’s comments came as he reflected on the decision to enter his company in the Award programme last year. “We need many more nation builders in Jamaica, especially in these economically challenging times, so I would encourage as many businesses and volunteers across the island to enter this prestigious programme. As the overall winner, it also provides an opportunity to win a scholarship for an employee of your company,” he continued. National Commercial Bank Jamaica Ltd, in partnership with the Department of Management Studies at the University of the West Indies, Mona offers a selected member of staff of the Nation Builder Award-winning company a three-year Management Studies scholarship to the institution. Carolyn Wright, General Manager of Rondel Village, the 2011 NBA Women in Business Awardee, said: “I have a framed photo of the trophy presentation which was sent to me by
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NCB on display, together with the trophy, in the lobby of our hotel and the guests are excited when they see it. The award has really given our property good publicity, which our small business would not have been able to afford otherwise.” 2011 Impact Award (Individual) winner, Giuseppe Maffessanti said: “The $200,000 that I received as the cash prize has helped a number of students at the Montego Bay Community College and a couple of basic schools. And on a personal note, it was a great experience to have been honoured in such a wonderful way by NCB. It is really a great programme.” Law student and prospective entrepreneur, Natalie Fletcher, and Master’s degree student Candice Carby, were recipients of the 2011 NCB Vision Award. They both considered the award to be a great financial investment from a caring bank. They look forward to starting the businesses at the end of their current studies. Applications for the 2012 NCB Nation Builder Awards are now open until July 31. Forms are available at any NCB branch island wide and can also be downloaded from the website. The NCB Nation Builder Awards programme was established to celebrate small and medium businesses, which demonstrate outstanding entrepreneurial performance and strong community impact. NCB also recognises the work of Jamaica’s community builders and encourages the development of business ideas through these awards.
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Using barter to help your business grow
I
n a world where cash is king, how can a small business survive if it has limited funds? One simple answer is barter, the system of trade many of us learned about in high school history where parties swapped or exchanged what they had for what they wanted. Although bartering has largely been replaced by buying since the advent of monetary units, it has not completely faded from the picture. Many companies, large and small, still practise bar-
tering in some form.Let’s say you operate a small boutique hotel and you want to get some publicity but lack the big bucks. Luckily, an advertising and marketing agency is planning to have its staff retreat at your property. It wouldn’t be out of the way to strike a deal with the agency where you offer the group a discounted rate in exchange for assistance with an ad campaign.
HERE ARE SOME TIPS TO CONSIDER WHEN BARTERING: 1. Make a list of businesses you can trade services with. Examine your needs then carefully match them with the companies that can help you to achieve them before making your pitch.
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an electronic media campaign for a similar 30 per cent discount.
2. Make a list of what you have to offer. Bartering is a two-way street, so ensure what you’re bringing to the table matches up with what you want others to give you.
4. Calculate the terms of the deal. To make sure the trade is fair for both parties involved, figure out the cost of the goods or services being traded. You don’t want to be trading $50,000 worth of your hotel’s amenities for a $20,000 discount. Make sure the monetary values are in the same ballpark.
3. Spell it out. Be specific so there is no question as to what you have and what you want. Don’t just say you are offering the ad agency staff a discount in exchange for help with your publicity campaign – you are offering a 30 per cent cut rate and you want the agency to craft
5. Get it in writing. No matter how ‘small’ the tradeoff may seem, you’re running a business, so ensure that everything is laid out in writing. Even a simple email detailing the terms will do. For larger, big-budget tradeoffs, you should ensure you have proper documentation.
Three bold tips to boost growth
A
cursory drive down any street in a major business district in Jamaica will show the aftermath of a struggling economy – closed shops or, for those that valiantly fight to stay open, very few customers wandering about. It has been hard to sustain small businesses in the wake of the global recession as consumers’ spending power diminished severely. Still, many businesses have survived as owners buckled down and came up with winning strategies that have seen them not only hang on for dear life, but thrive. If you keep doing what you’ve always done, you will keep getting what you’ve always got, so here are three ways to shake up the old routine and help boost your company’s bottom line:
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t %SPQ MPVTZ DVTUPNFST But how can dropping customers help my business, you ask? If they’re not paying, they are draining you of your already scarce financial resources to cover their debts, so force them to pay up or cut your losses – literally. Go on an aggressive collections campaign; threaten late fees or repossession (if it applies) or even legal action, if the debt is out of control. The thought of paying more than they have to or being embarrassed when the repo van pulls up will spur those lagging in their payments to find the cash and pay up. At the same time, define your ideal customer and retool your marketing plans, products and/or services towards attracting buyers of that ilk. t 3BJTF ZPVS QSJDFT No, you did not read that incorrectly. It might seem counterproductive, but a price hike will weed out problem clients. Of course, you have to justify the increase to your loyal (paying) customers, so up the standard of your customer service, throw in
extras (free installation/servicing, special discounts for bulk purchases) and reward those who consistently do business with you. A happy customer is a great advertisement for your company. t 3F EFmOF ZPVS OJDIF Don’t spread yourself and your resources too thin trying to attract every potential customer out there. Examine your accounts and see where the majority of your sales come from, whether by locality or industry. Focus your attention on retaining this core clientele. Approach potential clients in your redefined area and rebuild from there. Alternatively, you can redefine your niche by focusing on the service you provide that no one else does, and move from being a Jack-of-all-trades to a master of one. This gives you ‘expert’ status and that makes your current customers trust you more and compels them to recommend you to others.
The power of
networking with LinkedIn
I
f you’ve heard it once, you’ve heard it a thousand times: in business, it is not always about what you know, but who. More often than not, knowing or being somehow connected to the right person is the difference between getting your company’s project off the ground or having to put it on hold. Much networking takes place informally, at after-work happy hours or through casual introductions after meetings, but in today’s tech-driven marketplace, meaningful connections are also being made online. Social sites like Facebook, Twitter and Google+ put you in contact with everyone, from old schoolmates to famous stars. Another major network, LinkedIn, was created exclusively for business purposes, but many are not fully aware of how to use the site and how it can help them. LinkedIn is the world’s largest professional online network, putting you in touch with your trusted contacts and the people they know, while allowing you to connect with a broader network with a variety of tools. Here are four ways to make LinkedIn work for you: t $SFBUF B DPNQSFIFOTJWF QSPmMF This is your official introduction to potential investors, contractors or clients, so ensure that you grab their attention. Use power words that speak specifically to your skills and experiences, and what
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you (your company) have to offer. Don’t just say you are in marketing – so are about 100 others. Do you do social media marketing? Marketing for non-profits? Being specific allows you to stand out and increases the chances of being seen by the people who matter. t +PJO SFMFWBOU HSPVQT  You would be surprised at the doors that can be opened by sharing a common interest. You can join groups according to industry, education, hobbies, interests, religion and many more. Being part of a group allows you to connect with other members who may even be in different countries. And don’t just join to be there. Engage in the discussions that are taking place. You never know who is paying attention. t (JWF BOE UBLF  You can ask your connections to write testimonials, reviews, recommendations and referrals so that others will get a more rounded view of what you bring to the table. It might be daunting to ask your connections to put in a word for you, but don’t be. And be sure to do the same for connections who ask you to vouch for them. t 1VU JU BMM PVU UIFSF  LinkedIn allows you to add your company’s website and/or blog as well as personal sites, as well as post and share stories and information related to your business or industry. You can add polls, share events notification, presentations and portfolios or share and track collaborative projects with your connections.Â
National Commercial Bank Limited 32 Trafalgar Road, Kingston 10 Jamaica, W.I. 1-888-NCB-FIRST 1-888-622-3477 www.jncb.com
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