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Small Business ASSOCIATION
Vol. 03 Issue. 3 March, 2015 Edition
Building Networks; Creating Wealth
BUILDING MARKET SHARE The Small Business Association hosted its first members’ meeting for 2015 in the month of February. With standing room only, the Bagnall Point Gallery was filled with both members and non-members alike, keen on learning about Strategies to Build Market Share, which was the meeting’s theme. The meeting was organised to assist small businesses in exploring strategies to improve their marketability, both in the domestic space and overseas markets. Consequently, focus was placed on the use of effective distribution channels and harnessing technology-based solutions as a key feature of the business model for today’s successful firm.
This included: • Deliveries to countries other couriers do not service • Guaranteed delivery times • Internet tracking The presentation by the BPS was considered strategic for small businesses at this time, particularly those desirous of exporting their goods. The cost efficiencies to be realised would contribute to the positioning of firms to be competitive and to grow market share.
• Maximising Online Market Presence – the benefits of search engine optimisation, social media marketing, starting a blog and email marketing. How social media can effectively work to give a business the necessary online presence it needed to be successful.
Mr. Cornelius Barlett of CORBAR Business Solutions asking one of the many questions during the meeting. Mr. Chesterfield Coppin making a point during his presentation.
A section of the audience at the Bagnall Point Gallery. Presentations were made by representatives from the Barbados Postal Service (BPS) and the Ministry of Commerce. The BPS presenter, Ms. Margaret Ashby, highlighted the services of the postal service, which were offered to assist small firms in reducing their operating cost and enhancing their customer service. Members were introduced to the agency’s inland courier service, which is available at all post offices, the same-day delivery feature and the Internet service to help customers trace their packages. Additionally, the postal service provided an attractive product for firms conducting business in export markets.
IMPORTANT DATES 2015
Mr. Chesterfield Coppin from the Ministry of Commerce gave an in-depth look into the marketing strategies required by business owners to maintain a competitive edge. These included:
The meeting also provided members an opportunity to network across economic sectors and to explore cost sharing methods in the procurements of key goods and services.
•Building Effective Distribution Channels – the way in which a business delivered its products to consumers and what and what should be considered. The importance of choosing the right channels and the key areas to consider such as, direct selling, the use of wholesalers or distributors, the use of agents and online marketing. • Building Winning Marketing Campaigns – the importance of having a clear understanding of one’s position in the market place, relative to the business’ target audience. How to choose the appropriate media channels and why a business should have consistent marketing visuals with clear content.
FEATURE ACTIVITY
FEATURE ACTIVITY
SBA CEO, Ms. Lynette Holder (Right) presenting Ms. Kathy Daniel with a prize for outstanding attendance at members’s meeting.
REACH THE SBA HEAD OFFICE 1 Pelican Industrial Park, Bridgetown, Barbados
April 9: Be SME SMART Media Launch & Bus Tour April 22-24: Tax Clinics Visit www.sba.bb for more infromation
www.smallbusinessapproved.bb
Phone: (246) 228-0162 Fax: (246) 228-0613 Email: theoffice@sba.bb Website: www.sba.bb
Rodjmon Holdings Incorporated is a boutique Communications Company specialising in Event Planning, Website Design, Public Relations, Marketing and Corporate Communications. They have over 30 years of experience in assisting clients to exceed their goals and objectives. Whatever the assignment, their experience, commitment to excellence, attention to detail, and professionalism combine to ensure that the exercise is administered cost effectively, efficiently and with panache. This month, Rodjmon Holdings would like to ask, “Is Unprecedented Success within your Reach?” To enjoy unprecedented success, you need to differentiate yourself from the competition. In order to do this effectively the following must be considered. Marketing: It is important to be constantly marketing your business, this is done by taking advantage of social media, maintaining your websites, Facebook pages and any other avenues where customers can interact to acquire information, view and purchase goods and services, solicit answers and share ideas and opinions. Customer Service: Improve your customer experiences with wow,
excellent service; making each customer experience a special one based on value and engagement Refresh your Brands: Ensuring your business is top of mind in the eyes of your target publics. Records: Keeping proper records is important to determine the financial status of the business, ensuring profitability, providing financials necessary for acquiring financing, and assuring stakeholders of the solvency, credibility and transparency of the business. Governance Programme: This ensures regulatory compliance to satisfy the legal requirements of doing business to protect shareholders, stakeholders and the public. Leadership ability: This ensures that you are setting excellent examples for your employees, partners, stakeholders and shareholders to engender mutual respect and empowerment. Human Resources: This is one of your most valuable assets. It is important to create a culture where employees feel protected, excited, passionate and committed to delivery of excellent service. If you would like to achieve unprecedented success in your business, and want to know more about how you can implement these improvements, please contact: Rodjmon Holdings Incorporated, Tel:822-0390 Skype:Rodjmon “You Demand, We Supply”
Dedicated to providing quick micro-loans to small businesses and gainfully employed persons, Axcel Finance is the leading regional microfinance institution in the Caribbean! The company was founded by experienced finance professionals in 2011 and has subsequently developed a healthy client base in Antigua, St. Lucia, Grenada, Dominican Republic and here in Barbados. Axcel Finance believes in delivering high-quality, innovative financial solutions which meet the needs of the under-served but deserving markets throughout the Caribbean. By so doing, they are able to support the development and social mobility of everyday individuals, enabling them to pursue and achieve their goals and dreams and ultimately contributing to the economic growth of the nations in which they operate. The offerings within their loans portfolio are classified as either Xpress Loans or MicroBiz Loans. Their Xpress Loans provide quick access to cash in a hassle free and convenient manner that is tailored to your financial needs. Their clients utilise their loans for many purposes including but not limited to: medical, travel, tuition, home improvement and bill payments. It is no secret that small and medium enterprises are the engine of growth, especially in small economies like Barbados. In light of this, Axcel Finance is passionate about working with entrepreneurs and small business owners to provide them with innovative financial solutions to suit their specific needs. This is accomplished through their MicroBiz Loans. These loans are right for your business if you are seeking to expand the business, invest in equipment or other assets, if you are purchasing additional stock in preparation for your peak period or if you desire to supplement your cash flow. Axcel Finance is well positioned to be the catalyst for growth in the small business sector and the Barbados economy. With a proven track record and high credibility, Axcel Finance is indeed a financial institution with a difference! Horizon House, First Floor, McGregor Street,Bridgetown Tel: 228-8222 Fax: 228-8224 Email: barbados@axcelfinance.com www.axcelfinance.com SBA Outlook Newsletter
March 2015
That is the simple yet powerful motto of Insta-Equip Landscaping and Rentals as they aim to provide swift solutions to all your landscaping and rental needs. Providing service is what they do, and no one does it like they do it! They are in the business of making a difference in the landscaping industry. They treat their clients with the utmost respect, anticipate their needs and provide solutions that go way beyond their expectations. Insta-equip promises to serve their customers with honesty, integrity and reliable services as they view their client’s projects as an investment in their future and the value of each client is priceless. Insta-equip just launched their Read Set Mow promotion. This promotion is aimed to introduce consumers to their business and services. Services offered are: Mowing Edging Tree & shrub trimming Flower & bed care Clean ups and much more As part of their Read Set Mow promotion you can receive Insta-Savings by utilising their referal system, coupons, seasonal specials and gift cards For more infromation contact: Akeem Payne 245-4429 www.instaequip.com
The Be SME SMART Programme is designed to sensitise you, the consumer, about the products offered by Micro, Small and Medium Enterprises (MSME) and to encourage your patronage of firms in this sector. The campaign’s key objective is the sustainability of small firms through inter alia, • Saving jobs • Increasing revenue • Reducing the use of foreign exchange • Enhancing the competitiveness of firms • Improving the quality of goods and services offered in the sector. The Be SME SMART campaign features a Discount Programme which includes a SMART Card designed to benefit consumers and businesses alike. Upon presenting your SMART Card to participating businesses at every purchase, you will receive discounts and special offers. The more the you shop, the more you will save money and the more small businesses will benefit. It’s that easy!
1.
Register for your SMART Card at participating busi nesses, partners of the programme, the office of the Small Business Association, the SBA’s website, www.sba.bb or with any of the Be SME SMART Ambassadors. To the right is an example of the required infromation to complete your registration card
2.
On successful completion of the registration process, your discount card will be processed and will be sent to you via surface mail within 5 business days.
3.
Visit the Be SME SMART Marketplace via the SBA’s website www.sba.bb, to view discounts and special offers.
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Begin shopping at participating businesses to receive discounts and save money!
The SBA online Market Place is the home of the Be SME SMART Discount Programme. It is here SMART Card holders can view the varying goods and services being offered at discounted rates as well as special offers by participating businesses. SMART Card holders should visit our Market Place regularly to view updated discounts or specials that are being offered as can be seen in the examples below:
Sign up for your SMART Card and start saving today! For more information contact the Small Business Association, tel: 228-0162 or email: besmesmart@sba.bb or visit us online at www.sba.bb.
The Small Business Association (SBA) is the island’s non-governmental, non-profit representative body for micro, small and medium enterprises. The SBA seeks to expand business opportunities for its members, provide educational and developmental services and lobby to ensure an enabling environment for the growth and sustainability of the SME sector. For more information on the work of the Small Business Association, please visit our website www.sba.bb SBA Outlook Newsletter
March 2015