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Small Business ASSOCIATION
Vol. 02 Issue. 8 August, 2014 Edition
Building Networks; Creating Wealth
In Focus
SMALL BUSINESS WEEK 2014 LAUNCHED The primary objective of the Small Business Association’s (SBA) annual week of activities is to celebrate and highlight the contributions and accomplishments of small business owners within Barbados. This view was expressed by Mr. Dalton Medford, President at the SBA, at the recent launch of Small Business Week 2014. Mr. Medford stressed that the SME sector in Barbados was one that required more attention due to its positive impact on local development. He referenced a study conducted in 2009 by the CARICOM secretariat, which showed that in the region, micro and small enterprises accounted for 45% of employment. This figure increased to 70% when medium sized firms were taken into account. During the launched, title sponsor First Citizens Bank, affirmed their commitment to the sector, evidenced through their continued partnership with the SBA. Mr. Kareem McClean, Marketing Officer of the bank confirmed that the bank believed in the important and sizable contribution of small businesses to revenue generation, the creation of employment & opportunities for social mobilisation, and the influence of economic prosperity within the nation. At a time of prolonged economic downturn and the clarion call for greater focus on growth strategies to resuscitate the Barbados economy, there was a need to raise the national dialogue on the role of small businesses to the island’s growth and recovery agenda. The theme for this 11th annual week of activities is, “Small Business as an Elixir for Economy Recovery”, which
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underscored the need to treat to the value of SMEs within the context of sustainable development. The week of activities will feature six events that are educational and entertaining. The signature event, the Awards Ceremony & Dinner, will showcase businesses in eight economic sectors that have attained outstanding results in employment generation and/or retention, applied effective business development solutions, and use innovation in their business processes and product development. The public will also be invited to participate in the activities through the People’s Choice Award where some 16 micro businesses will be featured. Members of the public will participate initially through voting for their firm of choice on the association’s Facebook page, which will be followed by text voting during the final round. CEO of the association, Ms. Lynette Holder confirmed that this component of the week had performed admirably in the past and was again a feature of this year’s event to galvanise support and interest in the micro sector. The 16 businesses shortlisted for the competition were drawn from various sectors within the community. “The focus on micro businesses would also show the impact not only on economic development but on the social elements of the society since these firms provided goods and services primarily for the domestic market, were at the community level and had a direct interface with the general public”, Holder added.
Small Business ASSOCIATION
Small Business Approved
in collaboration with
PRESENTS “Small Business as an Elixir for Economic Recovery”
SMALL BUSINESS WEEK 2014
September 21 - 27 2014 SUNDAY Church Service September 21, 10:00 a.m. Sanctuary Empowerment Centre MONDAY VI Annual Leo Leacock Memorial Lecture September 22, 7:00 p.m. Errol Barrow Centre for Creative Imagination WEDNESDAY Youth Forum September 24, 10:00 a.m. Savannah Beach Hotel THURSDAY Promotional Bus Tour September 25, 9:00 a.m. Various sites island wide FRIDAY 20/20 Cricket Match September 26, 7:00 p.m. Lumber Company Playing Field SATURDAY Awards Ceremony & Dinner September 27, 7:00 p.m. Hilton Barbados Resort SPONSORED BY:
CHAMPION
CRYSTAL President of the SBA Mr. Dalton Medford (left), CEO of the SBA Ms. Lynette Holder & Kareem McLCeam Marketing Officer fo First Citizens Bank (right) REACH THE SBA
FEATURE ACTIVITY
FEATURE ACTIVITY
HEAD OFFICE 1 Pelican Industrial Park, Bridgetown, Barbados Phone: (246) 228-0162 Fax: (246) 228-0613 Email: theoffice@sba.bb Website: www.sba.bb
CORPORATE
www.SmallBusinessApproved.bb
A SEAL OF APPROVAL who often highlighted the negatives and pointed out where the business was deficient. Whereas this constructive criticism could help the business to improve, often there was no mechanism to highlight the positives and to celebrate those who delivered quality as part of a referral feature. It is hope that the Small The new feature is the Small Business Business Approved programme will help to Approved seal; a quality mark that is available close the gap in this area. to SMEs to be placed on their corporate stationery, website & social media interfaces, Representative of BIM Media Group, Mr. emails, offices, company vehicles, etc. The seal Daryl Kelly, compared the review system to represents a symbol of excellence, promotes international consumer sites Amazon and quality, recognises businesses with exacting EBay, and underscored the importance of standards and provides a guarantee that the providing feedback to the shopping experibusiness operates according to best practices. ence. Mr. Kelly also reported that an App Business Operations Manager, Ms. Andrea would be developed as a value-added to the Taylor confirmed that the initiative would programme and made available for download help consumers to identify those firms that on smartphones to allow consumers to were prepared to guarantee a quality experi- benefit from discounts offered by participatence to the customer. Additionally, the ing firms. businesses with the seal were those prepared to follow best practice relative to advertising, corporate behaviour and to strengthen consumer loyalty. “This is the standard we desire from our members and the wider SME sector, since quality service is the hallmark of the business and what will separate the successful enterprise from the uncompetitive firm,” Taylor added. Consumers will be able from this month, to patronise businesses that provide a quality guarantee of their goods and services. This is made possible through the collaboration of the Small Business Association (SBA) and the online firm Bim.bb.
The initiative also features a review system where customers will be encouraged to rate their experiences with participating firms in an effort to not only provide feedback to businesses on the good or service purchased but to influence a culture of celebrating the quality product offerings available in the local small business community. The SBA execu- SBA Business Operations Manager Ms Andrea Taylor tive reported that that there were consumers & Mr. Daryl Kelly of Bim Media Group
SIR DWIGHT VENNER TO HEADLINE SMALL BUSINESS WEEK 2014 The Governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner, will deliver the VI Annual Leo Leacock Memorial Lecture during Small Business Week 2014. The lecture will continue discussion on the theme for the week, “Small Business as an Elixir for Economy Recovery”; will special focus on Small Island Developing States (SIDS). Such a topic is timely in light of the recent United Nations conference on SIDS held in Samoa where the world’s attention was on the sustainable development of small states, particularly within the context of the post-2015 UN development agenda. Equally, the prevailing economic crises being experienced by Caribbean nations provide the backdrop to explore needed solutions to return to economic growth within the region.
due to the ease in market entry and low overheads, are able to leapfrog the domestic space and quickly expand into export markets. The changing business environment, from brick & mortar to an Internet driven climate, further strengthened the growth prospects for the small business. Sir Dwight will therefore offer solutions on the elements of the ecosystem needed for this sector to play its catalytic role.
Governor with the ECCB since 1989, Sir Dwight also served in the position of Director of Finance and Planning in the Saint Lucian Government between 1981 and 1989. Sir Dwight is an Economist by training and was educated at the University of the West Indies, Mona, Jamaica where he obtained both a Bachelor of Science (BSc) and a Master of Science (MSc) Degree in Economics. He served as a Junior Research Fellow at the Institute of Social and Economic The chief economist of the Organisation Research at the University of the West Indies of Eastern Caribbean States sub-region, and then as a Lecturer in Economics from will draw from his wealth of training and 1974 to 1981. experience in analysing the role small businesses ought to play within the recov- He has written and published extensively in ery plan of small island states. SMEs have the areas of Monetary and International the innate potential to catalyse an economy Economics, Central Banking, Public Finance, to new levels of growth as these businesses Economic Development, Political Economy are flexible, operate in all areas of trade, and and International Economic Relations. SBA Outlook Newsletter August 2014
The lecture will be held at the Errol Barrow Centre for Creative Imagination, UWI Cave Hill on Monday September 22, 2014 beginning at 7:00pm. The public is invited to attend.
The Governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner,
People’s Choice Award Nominees Small Business ASSOCIATION
To vote for Your choice Like our facebook page & Like your Nominee To vote visit https://www.facebook.com/sbabarbados
Alex & Corena Carrington A3KD INC
Rochelle Walrond/Kevin Bishop Ivan Cox/ Chenika Moore BOOK LINE
Micro company which offers photography, graphic design and makeup services. Business Slogan: A3KD, It's Who We Are
A textbook loans and rental business providing tertiary level school materials and textbooks. Caribbean Innovation Challenge Competition finalist 2013
Daryl Kelly BIM MEDIA GROUP
Online marketplace which provides buyers and sellers with a unique community approach to buying and selling. Website also allows individuals and businesses to advertise their goods and services at a very low cost.
Provider of event décor services and accessories for individuals, commercial entities, government and non-profit organisations throughout the island.
Kerry Alleyne PREFERRED INSURANCE BROKERS
Provider of general insurance policies including motor, property, personal contents, travel commercial fire and public liability. Only brokerage firm in Barbados that offers free services in the collection of payments, delivery of documents and payment of road tax
Lyle Sealy C.S.L ENTERPRISES INC. Enterprises Inc.
Landscaping and maintenance company. Also offers freighting services and upholstery of office furniture.
Andrea Thompson & David Davis RENAISSANCE DESIGNS INC.
Lionel Dawson BIZ OFFICE SYSTEMS SOLUTIONS INC.
Specialises in the creation of imaginative solutions to marketing and design problems particularly for new business ventures. They offer services from traditional print media ,to website design, electronic signage and vehicle graphics
Sales and service provider of stationary supplies and equipment for offices and homes. Recipient of the Wholesale/ Retail Award for SBW2012
Paula Phillips CHILOM INC.
Christian based business and marketing consultancy service which designs & distributes home textiles including fashionable bed sheet sets with bible verses on pillow cases, on the foot of the sheet, as well as curtains, table cloths & blankets.
Nicole Forde CARIBBEAN DREAMS MAGAZINE
Vallis Jemmott NOTES OF PRAISE
Wayne Willock RUK-A-TUK INC.
This business offers tourismfocused Marketing, Advertising & Promotional Services to local and overseas markets. Also offers high quality travel oriented reading and visuals to travelers.
A Christian music school offering training in keyboards, drums, bass and rhythm guitar. Currently offers the Royal School of Music piano, theory and voice exams, as well as CXC music
Provider of cultural and indigenous art forms. The company supplies entertainment bands of varying genres for any event, in addition to event coordination and studio
VOTE TO CHOOSE YOUR FINALIST! Online voting ends Monday September 8, 2014 at 4:00 p.m. SBA Outlook Newsletter August 2014
Producer of pain relieving oils, rubs, sinus rubs, natural insect repellents, hair treatments & skin products. The firm is currently pursuing the Asian markets to establish a presence there.
Kathie Daniel SOUTHPAW GRAFIX
Osmond McFarlane NEW HORIZONS ENTERPRISES BARBADOS
Supplier of coloured wood mulch and coloured fiber products. The mulch is available in 3 colours - brown, gold, and red, and enhances the landscape of properties.
Carlos Jones MIRACLE BALM
Kellie Cadogan-Price EAST POINT PRODUCTIONS INC.
A voice development & production company Firm is a representative for the London College of Music. Company’s vision is “inspiring lives through the arts”
Willie Alleyne WILLIE ALLEYNE ASSOCIATES PHOTOGRAPHY LTD.
Established over 40 years, specilises in professional photography services including weddings, portraits, social events, PR, promo brochures and graduations.