Wealth Mag i25

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And the winner is... Adam and Eve Day Spa copped 3 awards at the 2014 Jamaica Observer Under the Dryer Awards. The world-class spa won the awards for Best New Industry Player, Best Hair Care Spot for Children and Best Spa Treatment of the Year.

Adam and Eve also received nominations in various categories: • Best Nail Salon • Rainforest Wet Room • Spa of the Year

• Best Customer Experience • Favourite Made in Jamaica Skin & Body Care Line • Spa Treatment of the Year


Publishers’ Note

Garth Walker & Leighton Davis

Managing Editors

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f you open your ears you will hear the cry of entrepreneurs across our island of Jamaica. People with dreams of building a better life for themselves and their families watch in despair as their companies choke from lack of revenues. What is an entrepreneur to do to save their business when cash flow is at a trickle or customers are hard to come by? It’s going to take a change of business models and forging partnerships for some companies to make it through and to rise again to the top of the business mountain. Wealth Magazine, which was started in the belly of the beast called recession in early 2009, has innovated and partnered with many companies to push our media brand to the forefront and to ensure we keep our brand top of mind to the consumer. We have also found it necessary to forge relationships with our clients to always be aware of their needs and to be able to fulfill them quickly. Adapting to the industry your company is in and doing what is necessary to dominate it can only be done with a solid plan and a market driven strategy. Against the background of the fast-paced technology era in which we operate, it’s also imperative that business leaders look at their systems and decide how to innovate using various technological platforms to enhance their operations. With that said, Wealth Magazine and its brands have and will continue to be the #1 entrepreneurial content provider in Jamaica and in the future, the Caribbean. Stay tuned.

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Publisher

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The Editor’s Survey

ince Columbus Communications Jamaica Ltd. (Flow) entered Jamaican shores in 2006 the company has contributed to the improvement of our country’s telecommunications sector. The company’s entrance into the local telecoms market also increased competition; making cable TV, internet and telephone services more accessible to Jamaicans. Columbus Communications has also invested more than US$2.5 billion into the region since its inception; no doubt Jamaica has received a sizeable portion of that investment. As part of our mandate to highlight those businesses and business leaders who are contributing to the growth of our economy, Wealth Magazine is pleased to feature, on this issue’s cover, Flow’s new Managing Director - Sean Latty. Sean Latty is determined to take Columbus Communications to a new dimension. We hope you’ll learn a lesson or two from his journey.

If you too, are looking to take your business to new dimensions, we have several articles that can help you. If you are a US person living in Jamaica, or a Jamaican with US ties, be sure to read Sancia Campbell’s FATCA: What it means for you as well as Ryan Strachan’s Indicators of a Buoyant Economy. All submissions were carefully written with you in mind. If there are any ways we can enhance your reading experience, please let us know. Blessings…

Garth Walker Leighton Davis

Sales and Marketing Manager Simone Riley

Sales Executives Latoya Taylor Geoffery Wilson

Photography Tricia Bent

Designer

Conroy Green

Printed in Jamaica By Pear Tree Press

Special thanks to:

Our writers, advertisers, readers, partners, family, friends and the CME Team.

Monique Grange Editor-in-Chief

Copyright © 2014 Wealth Magazine Issue 25 All rights reserved. Wealth Magazine accepts no responsibility for unsolicited material. This material may not be reproduced, displayed, modified or distributed without the express prior written permission from the publishers. For further information on Wealth Magazine, contact: Creative Media and Events 15b Trinidad Terrace, Kingston 5, Jamaica W.I. Tel: (876) 754-2075 Fax: (876)-754-2070 Cell: (876)-579-7381 info@cmeja.com /wealthmagja

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Managing Editors

www.wealthmagja.com

@wealthmagazine

/wealthmagazinejamaica



Contributors

Dennis Brooks has been a respected journalist and sociology teacher for over a decade. He has produced and presented several of the country’s top radio programmes, namely The Breakfast Club, The Corner, This Morning, Nationwide at Five, The Ballot Box, and Left Right & Centre, to name a few.

Laura Tanna author of the books Baugh: Jamaica’s Master Potter and Folk Tales and Oral Histories with DVD and CD versions as well as the CD Maroon Storyteller. She does interviews and writes on art, culture and travel for various publications.

He has served as a communications adviser to government ministers.

Ryan Strachan is the manager, corporate solutions & wealth management at Stocks & Securities Limited.

Joni Wedderburn

a writer and public relations consultant, Joni Wedderburn, has enjoyed a long-standing affair with creative and engaging communication. Having lived in cosmopolitan Miami, historic London and bustling Kingston, she has been inspired to be bold in her career. She is currently the Content Director of her new, dynamic PR agency, Muse.

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Issue 25 | Oct.-Nov. 2014

Latoya West-Blackwood is an independent publishing consultant with a particular interest in merging traditional publishing with digital and new media. She is a member of the Book Industry Association of Jamaica’s Board of Directors (Director - Development Initiatives) and also a member of the Jamaica Cultural Development Commission’s Creative Writing Advisory Committee.

David Mullings is co-founder and CEO of Keystone Augusta, a private investment firm based in Orlando, Florida. He can be foundat Facebook.com/davidpmullings.

Hodine Williams

Nick Abbott

Sancia Campbell

is often referred to as pragmatic and a critical thinker. He holds degrees in general management and economics, and law. He is currently the assistant to the auditor general. He enjoys lively discussions on topical issues and has a keen interest in business reengineering and efficiency gains. When not working, he enjoys karate, painting, and charitable services.

is the principal of FrontLine Evolution, a boutique consulting firms which helps organisations increase profits and improve effectiveness by creating long-term, sustainable change to the behaviours of their front-line, customer facing staff.

is a PR practitioner in the business and hospitality sectors with over 13 years experience in marketing, publicity and communications. An excellent writer and avid lifestyle blogger, Sancia enjoys reading and events planning. She is currently the PR & events coordinator at the Jamaica Business Development Corporation.

Alicea James is a full time editor at a popular publishing house in Kingston Jamaica. She has been a freelance writer for several years on sites such as Odesk and freelancer.com. Her passions include writing, traveling and shopping.



Contents Table of

Cover story 39

Issue 25 | Oct.-Nov. 2014

Cover story

Enabling the Future: Lessons from Sean Latty’s Life

Innovation 10

Managing Your Email To Boost Productivity

12

When Is The Right Time To Rebrand?

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10 Tips on How To Build And Grow A Truly Unique Small Business Brand

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Vital Rules For Business Etiquette

Technology 22

App Development For Business

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Business Blogs : Why, When, Where and How?

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Helping Businesses Stay Competitive and Relevant with ICT

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Samsung Unveils Curved Ultra High Definition TV

Feature 32 34 36

Cheers To The Weekend

Super Therm: The Remedy To The High Energy Cost Desease Social Enetriprises- Businesses Built To Serve

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Things To Know About IPOs

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Indicators of a Buoyant Economy

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Winning Investors Over

53

Building a Supportive Ecosystem For Entrepreneurship

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FATCA:What It Means For You

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Taxing employees’ Benefits- is it tax on 'Kindness'?

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Things To Know About IPOs

46

Amputee Farmer Receives Energy- Efficient House From Food For The Poor

Finance

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39

Building a Supportive Ecosystem For Entrepreneurship

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FATCA: What It Means For You

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Contents Table of

Issue 25 | Oct.-Nov. 2014

Health & Wellness 64

Corporate Wellness

68

You Are What You Eat

Lifestyle 70

Express Fitness: The Fitness Club You Can Afford

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Corporate Mingle: Western Sports Celebrating 40 Years

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A Model to Emulate:The Mayo Clinic

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Style Me Chic

Express Fitness: The Fitness Club You Can Afford

Travel Feature

Career 82

Are Jamaican Entrepreneurs Happy?

85

The Ambitions of Edufocal’s CEO Gordon Swaby

70 76 80

Bouncing Back From A Bad

Romance Office

Survival Strategies For Small Business Success

Remain focused on fulfilling your business mission. Never allow adversity divert your attention and efforts.

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Book Review

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-Sir Richard Branson

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INNOVATION

Managing Your Emails To

Boost Productivity

By Nick Abbott

How much time do you spend on emails each week? Ten hours, 20 hours, more? If so you are probably an addict.

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hatever your answer there is no escaping that email has become a colossal consumer of our time. If we work with a computer it is almost certain that we spend a significant amount of time writing and answering emails every day. Could some of this time be spent more productively? Are you being effective or merely busy?

1955; but it could have been written especially for email. In fact, Parkinson’s Law of Triviality that organisations give disproportionate attention to trivial issues, could apply to email too.

OK, let me ask you two more questions:

A recent article in the Wall Street Journal stated that:

1. How much training were you given in managing your emails?

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How often have you spent a really busy day on emails and meetings, but achieved exactly none of the things you wanted to get done? All too frequently high value productivity is replaced by low or zero value busyness.

• Workers typically check email every 20 minutes

2. How much time do you allocate in your calendar to dealing with emails?

• It takes an average of 15 minutes to get back on track after being distracted by an email or phone call.

Of course in reality, for the vast majority of us the answer to both questions is “none”. We often dive into our inboxes as soon as we get to work (or in many cases as soon as we wake up) and fill all of our available time reading and responding to emails. C. Northcote Parkinson penned his famous law that "work expands to fill the time available” in

If this is true, the math means that we are only working at full productivity for 15 minutes of each hour; the rest of the time we are either handling emails or recovering from the distraction. Before I go on, I want to go on record by saying that I


have nothing against the tool; as a technology email is fantastic. What worries me is how poorly we manage the technology. In many cases it seems that email is managing us rather than the other way around.

So how can we start managing email in a way which can make us more effective? 1. Schedule the time you spend on email- If email is such a huge task why don’t you schedule time for it in your calendar like you do for all your other major tasks? Because we don’t schedule time for email we do it all the time in a haphazard and highly ineffective manner. You should also try to exercise some level of discipline and prioritise which emails are read and those you respond to throughout the day. It’s a good idea to read and respond to those marked urgent or those which are critical to the completion of your work duties. 2. Empty your inbox- For years people have been surprised that rather than having an inbox full of hundreds of messages which date back months or even years, my inbox only has emails which are a few hours old. This is because I am ruthless at emptying my inbox every day. This is the single most important thing you can do to keep the email monster under control. 3. Disable notifications- You are a lot better than me if you can resist the temptation of the email notification that pops up in your task tray each time a new email arrives; the little envelope is just too tempting. The same goes for the “chirp” that I get from my phone with every email. The answer is simple: disable them. This is a huge first step towards breaking your addiction and becoming more productive. Unless you are expecting an urgent email, notifications may become distracting. 4. Work offline- The next stage in your recovery is to setup your email client to work off-line. It is simple to do and it means that your server will only send you messages when you ask for them by hitting send/receive. This will make perfect sense once you acquire the discipline of only checking emails during the allotted time. At 10 a.m (or whatever time you have scheduled), you hit send/ receive and watch the messages slip into your inbox one by one. This in itself can be quite a gratifying experience and help alleviate some of your withdrawal symptoms. This is particularly important if you want to keep your mail client open so that you can use the calendar and task functions. 5. Use Rules to Route Messages- I see a lot of people who already use rules to route or flag messages from their bosses and key clients which is great, I suggest that you take this a step further. First, set up a rule which routes messages on which you are carbon copied (Cc’d) into a special folder. By definition you are not expected

to take action from these messages so do what I do and skim this folder quickly at the end of each day. You can also route messages by key words in the subject which can be a great way to keep messages about the big project together in the same place until the time you have set aside to work on this project. 6. Trim Distribution Lists- We have all seen the email trail which has a distribution list that expands like a pie eating champion’s waist line. Gradually new names are added while none are removed. My recommendation is that when you reply you review the list of recipients and simply remove the names of those who don’t need to read your reply. This tends to shorten the length of the trail and lessen the chances of it going off on a tangent which doesn’t apply to you. 7. Pick up the Phone- The rule is simple: if you absolutely need a response today don’t use email. Email is a great tool, but it is highly ineffective as the communication channel for urgent issues. This is the time to pick up the phone or go for a walk. I promise, no I guarantee, if you can go “cold turkey” with your email addiction and follow my recommendations for a month you will become more productive, more efficient, more effective while at the same time lowering your stress levels.


INNOVATION

When Is The

Right Time

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uilding a strong, healthy brand for your business is a complex task. It takes a significant amount of time to come up with the right name and to identify the components that will assist in building a brand that connects with a company’s constituents.

As the business expands, or as things change in the business environment or in its operations, it becomes necessary for the business to rebrand. Rebranding is the process of creating a new look and feel for an established business in order to differentiate it from its competitors. The rebranding efforts may include a name change, new logo or packaging and updated marketing materials. It may also include the introduction of new products and services which may be seen as signature products. The goal of rebranding is to influence customers' perception about the business by revitalising the brand and making it more modern and relevant to the customers’ needs.

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To Rebrand? By Sancia Campbell

Before delving into the topic of rebranding however, let us define what exactly is a brand? A brand is the name, term, design, symbol or any other feature that identifies a business and by extension, its products and/or services. These identifying marks distinguish one business from the other. In the local context, big brands such as GraceKennedy and the National Commercial Bank consistently engage in rebranding activities which see the incorporation of new taglines targeting specific customer groups; the introduction of new products; and a general revival of their brands so that they appear even more attractive to customer groups. Business owners must recognise that markets change constantly, as do customer expectations, so brands can become outdated. Another recent, significant brand change was KFC’s adjusting their brands to include a breakfast option as well as fresh vegetable salads and wraps for health conscious consumers.


There are several reasons why companies, both small and large, should consider rebranding. As a matter of fact, the company’s business plan should make provisions for the rebranding process. The following are the most popular reasons a business should consider rebranding:

1. The business has expanded beyond its original scope – If the business started out as a

basic car wash but over time expanded to include full detailing and servicing, it’s time to let customers know. The best way to inform the customers of the changes is to upgrade your signage by incorporating the new services.

2. Your signature product or service has taken over your business – If you are a retailer and you sell

products that are not your own but they complement your business, you might be at risk of being associated with the product – especially if said product outsells your own. If this is the case, it’s definitely time to rebrand so that your clients are clear on who you are and what you sell.

3. The business has expanded beyond the geographical name – If you have a business with

the geographical location in the title e.g. Western Cars, it will be difficult to expand into Eastern or Central Jamaica and retain that name. When you are ready to expand, choose a name that does not emphasise the

location. Place the emphasis on the features, attributes and benefits of utilising your business.

4. Your brand is dull and boring – Always bear in mind that there are other competitors in the market providing the very same products or services that your business offers. If your company’s branding is dull and boring, hard as it is to accept, it’s time to upgrade. Rebranding will give the business new life. It will assist the business in retaining its old customers while successfully bringing in new ones. 5. People have no idea who you are or what you do - Have you ever had someone ask you what

you do? Have you found yourself fumbling to get the right words out? Does your description take longer than 10 seconds? If so, it might be time to rebrand. You should be able to tell people who you are and what you do in a quick and easy way. Rebranding is one strategy that must be included in a company’s business planning process. Rebranding helps the company to discover the type of business it really is, what are its long and short term goals as well as assist in precisely defining the organisational culture. Importantly, rebranding involves finding out whether customers see the company as the business owner wants it to be seen. Rebranding identifies any disparities and recommends changes that better target your specific market.

Corporate Rebranding of KFC

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Lady

Premier Michelle Anderson Director of Distribution, Digicel Jamaica

1. What inspires you? I am inspired by persons who overcome major challenges to accomplish much in life. There are so many stories of successful people who have defied the odds. I am reminded by their stories that a big part of success has to do with a positive mindset, willpower and determination. 2. What’s the last good piece of advice you received? “You can’t move to second base with one foot on first”. This quote was used by a friend while I was on vacation oversees recently. Progress often involves risk which you must be willing to take if you want to achieve anything great 3.What was your dream job growing up? When I was in high school I wanted to be a psychologist. I was fascinated by the human psyche and behaviour and wanted to help people suffering from mental problems and distress. Having pursued a career in business, I have no regrets as I have accomplished much and still have significant goals I would like to achieve in this field. 4. What is your dream car, and why? Porsche Cayenne. It’s sexy and powerful. 5. After a hard day, what relaxes you? My downtime is usually during the 1 hour drive home from work. Music is my relaxation. If I had a hard day at work I turn the music up and drown out the events of the day. Of course, there is nothing like getting home to the excited cheers of my two kids to help overcome a hard day. 6. What current projects are you working on? With my recent appointment to the role of Director of Distribution at Digicel earlier this year, my sole focus professionally is to deliver on all retail and distribution goals of the company. So at the moment for example, my team and I are working on plans for our Christmas promotion, which is an annual highlight of the business that our consumers look forward to. Outside of work, I am on a personal journey to improve my physical and mental wellness to attain all-round optimal performance. 7. What does ‘Wealth’ mean to you? I believe true wealth is having a richness in life that creates contentment, happiness and security. This comes not just from the accumulation of money but from good relationships with family and friends, good health and the ability to live life to the fullest, enjoying the things that matter most to you.


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tips on

How To Build And Grow A Truly Unique Small Business Brand

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e all have favourite spots, whether it is somewhere to eat, order stationery, dry clean, buy grocery, advertising or rentals – Jamaica is the epitome of small business ventures – it’s our thing! According to the Global Entrepreneurship Monitor (GEM), from 2005 to 2008, Jamaicans performed comparably well on the world stage as it relates to entrepreneurial activities. In fact, we ranked higher than the United States, the United Kingdom, China, and Germany. The report stated that the consumer oriented sector remained the most buoyant in 2008, accounting for 52.4% of all entrepreneurial activities. Every Jamaican interacts and conducts transactions with small businesses daily. Through the provision of a myriad of products and services, they are the backbone of the Jamaican economy and the basis for an acceptable standard of living for the majority. It is therefore important for these business establishments to ensure that their service delivery is above par and that they are in a position to create and deliver valuable customer experiences every time. It is a characteristic of small businesses to have products tailored to niches. The services are personal and this creates trust, marketing opportunities, brand loyalty, and growth. These small enterprises face many challenges but also benefit from more lenient regulations and are able to effect change to their operations and focus as needed. We

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By Hodine Williams

all know a business owner we can call on their cell phone, often greet in public, and even give a hug while enquiring as to the progress of kids or other personal interests. How many times have you said “Oh, call this person, tell them I sent you”? Now, as a business owner or even a potential one, you should be considering what you can do to capitalise on your existing relationships and position while growing your unique brand, without running your business into debt.

Here are 10 tips that can help: 1. Define Your Brand

I am not necessarily referring to just your company logo – it’s easy to connecting with your graphic designer or walk into a graphic company and have them convert your scribbling into a digital image that you slap on your door, website and letterheads. Think instead, of your brand essence. It’s the sum total of all that your brand is; what you think you are, your experiences and relationships, what you offer, how you want to be known, what you post on Facebook, your webpage, or Instagram, and what differentiates you from your competitors. If you have that covered, then you have in your pocket, the foundations of a good brand.

2. About the logo

Your logo is that one graphic symbol that persons, at a glance, will associate with your establishment. Thought and


effort must go in the design and concept behind, not only the logo; but also your business name. You do not want to bear the expenses and marketing campaign it would take to change the logo and/or the name when your business becomes more successful. I would suggest that if it is that you are in any form of joint venture, it is safe to leave the names out of the logo or business name unless the point of the business is to garner customers via the use of the said names. The logo and the names should naturally spark people’s interests. Remember, your name and logo should reflect the personality of your brand, what you stand for, the products you offer, possibly your market and should set the overall tone of your business.

Having an excellent product is and should be your constant focus. People will refer countless persons to you with much confidence. If you are a tailor, then when people wear your clothes, it sells itself, so never shortchange on quality of products and services – set a standard and deliver it every time!

5. Add an Element of Personalised Service

What makes your business thrive is not how similar you are with your competitors – it’s how much you stand outso go for that! Distance yourself! Be bold and innovative… dare to be different! Sit a while and consider, “What makes me different from that guy that sells the same products I have?” Maybe it’s your after sales service or your follow-up emails. Define and capitalise on what makes you unique… it has its benefits! And don’t forget…don’t be afraid to tell everyone how different you are! Stand on your soapbox and sing it!

Be visible but not overbearing. One experience I had working in New York at the famous Surf Lodge was that the owners always pitched in. They were never bossy and you could not tell they weren’t regular employees. In fact, I thought they worked harder than most persons did. Remember, the business is yours and all your efforts should be towards its growth and sustainability. Liaise with customers, make your face be known and be accessible. Do not sit in an office and shout instructions – you are in the business of personal service – that’s why you have loyal repeat customers. If you are not around to engage customers and employees, then both groups lose respect. Employees may become less motivated which can negatively impact your service delivery overnight. Don’t get me wrong, it is important that your business is able to run without you being there at every stage or every day but your presence has its benefits. Put a face to the business.

4. Excellent Products and Services

6. Have a Distinct Voice

3. Set Yourself Apart

People ultimately engage you because of the product or service that you offer. In case you are ever of the view that it’s the ‘because I’m great’ factor, disabuse yourself of that.

Similarity is the enemy. Determine your pitch and stick to it. Try focusing on your interaction with your customers. Examine how you relate to them at all points of contact; in-

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person, on the phone, via correspondence, and on social media. It’s not a problem to look at other companies and see what they are doing to determine what you like, what might work, and aspects that you can adopt to suit your own needs. Take a look at how other businesses interact and relate to you. Look at your suppliers – ask yourself, what is it about this supplier that makes me want to continue doing business with them? And that my friend is a good pitch.

7. Garner Support via Social Media

I’m not preaching to the choir nor am I intending to waste my energy on some lost cause traditionalist with no business acumen. This is for persons who are serious about business. Try cost neutral ways to garner support for your business. Facebook, Twitter, Instagram, Websites, Blogs, and Online Communities, are great for building solid customer interaction and engagement.

8. Support Local

Work the ground! Set up a booth the next time you see an upcoming health fair. Call up the church and or community centre and ask them how to get tent space and bring some of your finest offerings to their event. Support local events and they will support you.

9. Sell Truth

If you have a truly excellent product – it’s easier to sell. You don’t have to patch up lies or do anything untoward. You can’t be a tailor and not wear your own product. How cool would it be to be selling a shirt and point to your very own and say “it’s just like this one”. Have real conversations about your product and be fair and honest.

10. Don’t be Rigid -Be Reliable

Never stand behind just strict provisions (I know coming from an attorney-at-law, such a statement seems strange - but it has its benefits). Be customer-focused and reasonable in your engagements. If you have sold a couch and the customer returned it saying if fell off the moving truck and broke the arm, we know you are not obligated to fix it but it might be best to have it replaced if it’s cost neutral. In case it isn’t, tell the customer to bear the cost of material and minimal labour. They will respect you for it. You see it’s not always about the money and not always about right now. Remember, you are constantly managing relationships and building your customer base. That one customer will refer several more – so over time it’s in your best interest to think long term and think reasonably. With small businesses, it’s word of mouth that creates the greatest advantage.



INNOVATION

Vital Rules for

B US I NESS ETIQUETTE

M

ost of us know the basic meaning of etiquette, we apply it to our everyday lives and situations– or for some of us, we don’t, even when we should. In simple terms etiquette is a set of rules which govern the way we should act in certain environments. The term comes into play no matter who we are or where we are, and the business world is no exception. Some organisations provide an employee handbook covering the basic rules and guidelines regarding vacation leave, sick days, workplace attire and other procedures specific to that company. However, for those not equipped with said manual here are some vital tips that govern business etiquette.

Dress for success! Workplace attire

In an effort to avoid this headache altogether, some organisations provide uniforms for their employees. It is an ideal way to ensure that everyone properly represents whatever it is the company wishes to portray to the outside world. Depending on the business you’re in, chances are the company’s main goal is for you to dress in a professional manner. Even on casual days you should still display professional

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By Alicea James garb. If you opt for jeans, throw on a pair of heels for a more ‘business casual’ vibe, and for males; add a jacket to pull the look together in a more professional manner- always remember dress for success!

Event attire

If your company has an event, ask about the dress code before your arrive in your booty shorts or skin tight mini, even if it’s a fun, casual outing. Once the event is related in any way to your job, you should always bring some sort of professionalism to the plate. I am not saying that you should wear dress pants and heels to your boss’ birthday party, but you certainly don’t need to wear your crop top either. Once the party is over and Monday rolls around you will once again have to put on your professional hat and sometimes when you are seen in a certain light it’s hard to take you seriously after that. So, try to find a proper balance when dressing for these occasions.

Time is Money!

If there is one rule of etiquette that must be employed no matter where you work, it’s the issue of time. Showing up late for a meeting can send a message that you do not respect anyone’s time and as you know by now, time is money. Always show up to meetings at least a few minutes early, especially if you are the one hosting the meeting or giving a presentation. Outside


of that, just be on time for anything related to your job; arrive on time for work each day and if during any situation you predict that you will be late, inform your superior well in advance. The same rule applies to timelines for projects and other tasks that are time sensitive.

Communication is Key

One of the most effective tools you can employ at work is proper communication with your co-workers, clients and your boss. Always return phone calls in a reasonable amount of time and always respond to your emails. if you don’t have time to properly respond to an email, acknowledge receipt of same and indicate to the sender when you will be able to send a proper response. Smallbusiness.chron.com has another vital tip for email communication, “Take the same care in crafting email that you would for any published work, including spelling, punctuation, grammar and capitalisation.” Communication also involves the relationship with your co-workers and manager, be clear and concise with them and if there are any issues related to your work, express it in a respectful manner.

Employ mobile manners

Before you panic I would never suggest that you leave your

cell phone at home or that you turn it off in the office that would be madness! However, it is only fair to establish some basic rules regarding mobile etiquette. For one, please ensure you have a respectable ringtone – common sense should let you know which ones are inappropriate. Also if you constantly receive messages and updates on your phone, it can be quite annoying for nearby co-workers, either decrease the volume or set your phone to vibrate mode. If you are in a meeting, ensure that your phone is on silent so as not to disturb anyone else, and only check your phone if you deem it an emergency. FYI, Facebook, Twitter and Instagram notifications are not considered emergencies. Also, if you must take a phone call, discreetly excuse yourself from the meeting and take it on the outside.

Back to Basics

For the most part, business etiquette is quite simple to follow. In situations where an employee handbook is not provided, just go back to the basics; the rules you were taught as a child still apply as an adult. ‘Yes’, ‘please’ and ‘thank you’ were drilled into our heads from early on for a reason- because we would need to use them for the rest of our lives. Once we remember the basics it should be quite easy for us to function in any and every situation.

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TECHNOLOGY

App Development for Business By Carlette DeLeon

So, you’ve decided that your business needs a mobile app. After all, smartphones are everywhere.

P

erhaps you feel that your customers would benefit from a dedicated contact point. Perhaps you feel that you are missing out on commercial opportunities. Or perhaps, you just think it’s a “good look”.

A dedicated app does have the advantage of residing on a consumer’s handset as a constant reminder, it can leverage GPS features for a location based experience, and take advantage of built-in SMS for even better user experience.

Whatever the reason that you have decided to enter the massive and potentially lucrative app market, there must be a clearly defined objective, a simple yet articulate consumer message and a specific target audience.

That said, to access these advantages, the business owner must get the consumer to first locate, download, install and use the app. Consumers also need to return to the app regularly, forcing businesses to ensure apps are relevant, interactive and frequently updated.

App Targets

Unless you have money to burn and time to waste, do not get an app just for having an app. Consider if a mobile optimised website, strategic social media interactions or piggy backing on other relevant apps will realise the objectives you hope to achieve. In many cases, these options are cheaper and faster to deploy than a full fledged cross-platform app and quite frankly are a precursor that will help mitigate potential app issues.

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"While most may think this an easy undertaking, usually they find this not to be the case. To be honest, application development can be straight forward but never easy. It truly depends on the amount of experience that person has in software development and the amount of thought put into the development approach at the outset” cautions Emerson Brown, Director of Technolgy of Aye Technologies Limited.


App Development

Indeed, the potentially expensive and time consuming experience of app development should not be taken lightly. But, with some thought and some time, a small business can develop an app for very little monetary cost. Dozens of excellent free tools can help a non-coder/nondeveloper realise a very simple yet effective app. Novices can turn to tools like Google App Inventor, AppMakr, SwebApps, BuildAnApp, EachScape and Appcelerator just to name a few.

The downside: Several of these services have backend subscription fees, built-in advertisements and other caveats that limit their flexibility, not to mention creativity. And creativity like functionality is critical to an appealing app. The Jamaica Observer recently relaunched its mobile app. “We wanted to make it fresh, fast and totally interactive,” explains Jamaica Observer’s Head of Advertising, Marketing & Communications, Natalie ChinWatkins. For its app, the Jamaica Observer contracted a developer rather than to develop in-house. A developer or development team does bring more costs but can yield infinitely better results. With the input of a developer an app can be more creative, more engaging and more lucrative than without that input. Scores of developers are emerging from various private/public sector partnerships like Startup Jamaica. Minister of State in Jamaica’s Ministry of Technology, Julian Robinson has been recently quoted as saying: “We provide an opportunity for them [developers] to have access to people who have money and who want to invest in their businesses. This creates a tremendous opportunity for entrepreneurs with no tech skills to partner with developers with limited entrepreneurial skills for mutual benefit.

iOS. I’d then include Windows Phone as Universal apps allow the same app to be deployed both on Windows phone and full Windows with little modification and that may be compelling”, he explains. Once all the relevant factors have been considered affordability, usefulness and accessibility - it is time to consider if the app can be monetised. Not every app needs to make money directly; an app can contribute to the bottom line in other ways. However, if the decision is made to eek cash from the app there are some options: advertising and in-app purchases.

App Money

Advertising doesn’t cost the consumer a dime, but can aggravate the user experience if not properly handled. Google, Millennial Media and JumpTap are ad management services that require little effort and deliver rewards. As for in-app purchases, regardless of the platform, all these transactions are subject to overseas regulations while local regulations come up to speed on an everchanging technological climate. To date, the Bank of Jamaica has introduced a regulatory framework for mobile banking, e-money and e-payment systems with hopes to advance legislation by the next financial year.

App Platforms

Regardless of the route taken, developer or free web based tool, the user experience will ultimately determine the success of the app. The two major Jamaican telecoms companies, LIME and Digicel together support a range of smartphone platforms including Blackberry, Apple iOS, Google Android and Windows. Emerson Brown offered some insights on which platform to start with based on current consumer trends. "By far android is the clear market leader both locally and worldwide, next would be

There are a lot of factors to consider when developing an app. To help make the final decision, heed the words of the CEO whose company created the market in the first place: "You can only do so many things great, and you should cast aside everything else," -Tim Cook, CEO of Apple Inc.

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TECHNOLOGY

Why, When, Where and How?

A

lthough blogging seems like a fairly new phenomenon, it has been around for at least 20 years. Its integration into mainstream was initially slow, but it has now become a dominant form of media. The word blog originated from the term web log. In a nutshell, it is a site or web page that's part online journal and part open forum. Blogs are more effective when they are frequently updated, and they can be based on any conceivable topic. The component that is most unique to blogs is the interactive nature which differs from static websites. Some blogs function as personal online diaries, some offer commentary on a particular subject and others are online marketing tools for a company or a particular individual. Since their inception, blogs have been rapidly growing in popularity, to date WordPress hosts 7.3 million worldwide and Tumblr hosts over 170 million (The Business of Blogging). And, these are just two of the many hosting platforms available. Blog tracking firm, Technorati notes that “Every day, an estimated 175,000 new blogs and more than 1.6 million blog updates go online”. According to the Business of Blogging, “Over 400 million people view 14.4 billion pages per month”.

WHY do you need a business blog?

So why do you really need to go through the hassle of creating a blog for your business, when you already have

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By Alicea James

a website? Well it certainly won’t hurt; it is another medium to promote your business, gain new customers or clients or simply get more exposure. But, there are several other reasons:

Gaining feedback -A business blog is a great way to garner feedback from customer or clients. Most blogs have a customer feedback option built in; this is a great interactive tool. You can answer questions, respond to concerns, or it might even provide a platform for you to defend your company against negative feedback. Also, it gives you insight into customers’ interests and needs. Reach new clients/customers-With your website

you are simply speaking to the customers you already have, but a blog creates a platform for new customers. The interconnected aspect of social media, where one customer can share their experience (good or bad) with others within their network creates the opportunity to reach millions. Also, once you constantly post new and interesting content, the blog will be updated and rank higher and higher in internet searches. This will also attract new clients or customers.

WHEN should you start your blog?

You might be wondering, is there a perfect time to start a blog? Well, only you can decide on the best time to start as you will need to dedicate time and effort into this. However, whether you’ve been in operation for several


years, or your company is brand new, this is a useful advertising tool that can be employed at any given time. And, if done effectively it can even boost sales for your business. According to entrepreneur.com, “In a recent survey of business technology marketing executives, blogs were voted the number 4 tool for generating sales leads”.

WHERE should you host your blog?

Once you’ve decided to go the blogging route, you then need to choose an effective platform. There’s no shortage of options to choose from; some are free while others require a small monthly or yearly fee. Review all the options and decide which will offer the most value. Wordpress, Blogger and Tumblr are some of the most popular options. powers almost 19% of the web and has been downloaded over 45 million times (thenextweb.com). It offers both a free and paid option and its best quality seems to be the sophisticated customisation and tweaks, along with offering a variety of powerful plug-ins. The downside is that less experienced users might find it too complicated. is Google’s take on blogging; it is a free platform that only requires a Gmail or Google account in order to use it. It has easily customisable backgrounds and layout and is hardwired into the company’s Adsense advertising program, which gives you an opportunity to make money from blogging. The downside to using Blogger is that it does not offer the bells and whistles that other platforms do, but might be ideal for first time bloggers. is quoted by thenextweb.com as the “cool kid on the blogging block” and it’s easy to see why. It is quite popular with the younger generation and has a viable community of users similar to that of Facebook and Twitter. Now owned by Yahoo, many prefer Tumblr as they can easily re-blog other users’ content to their own Tumblr account. The negative is that it might not be the best option for a company’s main blog, but could be a fun option if you have the time and effort to commit to more than one blogs. Other notable platforms include Medium, Google+, Typepad, Facebook Notes, SETT, Svbtle and Squarespace.

HOW do you get started ?

So, you’ve seen the light and realise that a business blog might very well be the marketing push your business needs to take it to the next level. Now, you just need to get started; the process is quite simple. Once you have decided on a platform to use, think about content for your blog and decide what you want to showcase about your business and how often. Once you’ve created your blog make sure that it is consistently updated, and always keep your message clear and concise. Respond to questions posted by readers, be open to feedback and stay up to date with current blog trends so that your blog doesn’t get lost in the 'bloghosphere'. The main goal is to just get started and the process will get easier with time.

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We caught up with Digicel Business General Manager, Jason Corrigan, about all things business in the world of ICT. Tell us about what you do.

“We work with companies across Jamaica and the wider Caribbean to help maximise the potential of technology to solve technical challenges in their businesses.”

As General Manager of Digicel Business, I provide leadership to the GSM and ICT teams in developing, implementing and managing the business strategy for Digicel Jamaica to suit the needs of our business customers.

In a global market where technology is making historical and geographical divisions increasingly irrelevant, there is huge pressure on countries, companies and individuals to remain competitive. We are therefore here to navigate our business customers through the technological landscape in order to give them that competitive edge. Jason Corrigan, General Manager, Digicel Business

Ok, what is Digicel Business and how does it differ from Digicel as we know it? Digicel Business is the corporate arm of Digicel. We provide business solutions to our corporate customers, whether they are a small company or a large enterprise in Jamaica and across the Caribbean. Simply put, Digicel Business works with companies across Jamaica and the wider Caribbean to help maximise the potential of technology to solve their business and technical challenges. So regardless of size or industry, our solutions are designed to help businesses manage costs and improve efficiency in delivering their products and services to their customers. These solutions include Network Services, Managed Services and Cloud Services.

minimal administrative costs, customers don’t have to re-invest in an entirely new solution when their businesses grow, because these solutions are all fully-scalable and customisable.

TECHNOLOGY

Digicel Business Solutions - Helping Businesses Stay Competitive and Relevant with ICT What kind of security infrastructure does Digicel Business have? Digicel Business boasts the region’s only Tier III Certified Data Centre facility – housed right here in Jamaica. This secure and fully redundant facility provides the peace of mind our customers require to maintain uptime of their critical services. With research showing that the average cost of downtime for a mid-sized company is US$70,000 per hour1 and that up to 70% of companies that experience a major data loss go out of business within a year2, securing their data has never been more important for businesses across Jamaica. That’s why some of the country’s leading brands – including one of the nation’s leading financial institutions – have given us their business, and we’re proud to be their partner of choice.

What’s next then? In June this year, we made a JA$600 million investment in an underground fibre optic network – critical infrastructure that will have significant transformative effects on the economic development of Kingston, Montego Bay and Jamaica as a whole. This network delivers uncontended, super-fast connectivity that provides 99.9% resiliency around the clock – further boosting business productivity. With phase one of the network now complete, phase two is well underway and will see the network connect to Jamaica’s IXP, ensuring businesses have the backbone infrastructure required to compete with their international counterparts. This investment is in-line with the Government of Jamaica’s Vision 2030, through which, ICT has been identified as a major catalyst for economic development – and we are proud to be doing our part to achieve this goal.

We can do this because our partnerships with, and accreditations from top global technology companies such as Cisco, Avaya, Citrix, Dell and Microsoft, enable us to provide the latest products to customers. We also have a team of highly trained and certified professionals who help customers implement solutions that are best-aligned to their individual requirements.

How does Digicel Business meet the demands of the different industries? At Digicel Business, we work hard to deliver tailored solutions based on the needs of each customer. In Jamaica for example, Sandals Resorts has reported a 44% decrease in its communication costs just one year after implementing a Pan-Caribbean closed-user group (CUG) solution from Digicel Business. Another example is Secrets Resorts & Spas which has partnered with Digicel Business to offer unlimited wireless connectivity to guests, regardless of where they are on the vast property. With a new, state-of-the-art Wi-Fi solution, the hotel has been able to meet the connectivity needs of its guests, while increasing customer satisfaction by approximately 80%. These are just two examples, but with the benefit of a full suite of Cloud solutions, businesses can outsource the hassle of managing high-end IT solutions. And, with pay-as-you-go pricing models with

General Manager of Digicel Business, Jason Corrigan, discusses the impact that the new underground fibre network will have on the city of Kingston with (L-R) Robert H.P. Hill, Town Clerk, Norman Horne, Chairman of the ARC group, Senator Angella Brown-Burke, Mayor of Kingston and Barry O’Brien, CEO of Digicel, during a visit to the Kingston and St. Andrew Corporation (KSAC) in August.

1 Research according to one of the world’s leading technology research firms, Gartner 2 Based on a study by PricewaterhouseCoopers

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TECHNOLOGY

Samsung Unveils New

Curved Ultra High Definition TV

S

amsung Electronics has again demonstrated its ingenuity with the launch of the Samsung Curved Ultra High Definition (UHD) TV in Kingston, Jamaica on September 2, 2014. Under dimmed lights and blazing torches at the coliseum-themed event, the company ushered in a new era in electronics in the Jamaican market.

Televisions have transitioned from CRT to LED, from HD to UHD, and now making history moving from flat screens to curved screens. Not only will the curved UHD TV provide users with the latest TV entertainment experience, but also a better picture and overall image quality. The cutting-edge curved design of the TV also provides a more ‘natural’ viewing experience with improved angles to satisfy all viewers. The device has several advanced features for one’s viewing pleasure. • Samsung’s Auto Depth Enhancer, an algorithm that analyses the regions in the images and automatically adjusts the contrast for greater depth perception, further amplifying the image quality offering a 3D effect without glasses. • UHD Upscaling provides improved playback of broadcast TV shows, movies, and video on demand by reducing noise and enhancing the quality of the low resolution content and seamlessly upconvert SD, HD or full HD content to UHD level picture quality.

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• The Curved UHD TV also boasts UHD Dimming, Precision Black and Peak Illuminator to improve viewing experience. • The UHD Evolution Kit enables the Samsung UHD TV to be updated to be compatible with future UHD standards without the need for a new TV. Speaking at the launch of the Samsung UHD TV Patricia Laufer, Marketing Manager of Samsung Electronics Latin America said her company was delighted to introduce the new product to Jamaica, reaffirming its commitment to placing the latest technology within the reach of consumers.

“Our greater aim is to create superior products and services in all areas of our business and thereby improving the lives of people, wherever they are, creating positive changes in the world around us. Our ultimate objective is to create technologies and offer services that empower our consumers and open the door to a new world of possibilities.” Ms. Laufer also pointed out that for Samsung, the TV is much more than a screen but a window to the world, providing new experiences and new discoveries. Jamaica’s own Minister of Science, Technology, Energy and Mining with responsibility for telecommunications, Honourable Phillip Paulwell also commended Samsung for its move. “What Samsung is doing is in keeping with the government’s mandate to enable people to have access to the latest in technology. I must commend Samsung for its demonstration of confidence in the Jamaican economy and we are pleased to welcome the new product.” Specially invited guests to the launch were also pleased about the quality and detail of the images displayed on the new Samsung Curved UHD TV. For that, credit must be given to a special colour technology called PurColour, which increases the number of colour adjustment points by a factor of seven. This results in a wider range of colours and shades that are as close to real life as it gets, bringing viewers closer to what nature intended.

Patricia Laufer, Marketing Manager of Samsung Electronics and Minister of Science & Technology, Honourable Phillip Paulwell discussing the new curved UHD TV from Samsung.

The U9000 models will be available in 65” and 55” screens. Once again, Samsung has proven to be a leader in the technology field with the unveiling of its newest product.

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FEATURE

A

Cheers

To The Weekend

s the sun sets along the second city’s vibrant coast, excitedly ushering in the arrival of the much-anticipated weekend, Montegonians and tourists alike head out on their quest to find a fun, memorable experience. Many make their way along a tiny, winding corridor to the town’s aptly named Hip Strip, a vivacious cluster of trendy restaurants, bars and night clubs. A magnetic space, bustling with the hums of car engines, the murmur of clamouring voices echoing along the sidewalk, and high energy music blasting from the surrounding buildings, this is undoubtedly the place to be on a Friday night. Those starved for good food should head over to Marguerite’s By the Sea, one of the island’s oldest and most celebrated restaurants. The swanky eatery has been a part of Montego Bay’s iconic landscape for the better part of 50 years; a “must visit” spot, it’s easy to see why Marguerite’s keeps attracting a steady following year after year. “Restaurants come and go but over the years Marguerite’s has enjoyed success and has become a legendary place in its own right,” says Andre Boswell, Senior Marketing Manager at Island Entertainment Brands. “The secret: the restaurant has a great ambiance, great vibe and great service.” Entering through double doors just off the rowdy streets, guests enter a quiet, sophisticated setting through a regal entryway boasting old world beauty. The space is charmingly decorated with large, colourful paintings, exquisitely crafted wood furnishings and a grand chandelier, hanging toward the end of the hallway. Moving past a set of glass doors and into the large dining area, visitors are serenaded by soft, romantic lighting and elegant music. But the best seat in the house awaits on the outdoor deck, overlooking clear, turquoise waters gently lapping the shoreline.

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By Joni Wedderburn


With a small stage serving as the focal point at the front of the room, it’s undeniable that music is the undisputed star here. Originally starting out as purely a jazz bar, Blue Beat, has since opened up to other genres, expanding its entertainment offerings to ‘unplugged’ performances by Tessanne Chin, Tami Chynn and Tanya Stephens, and moving ahead with future plans to host a slew of up and coming singers.

Though extraordinary views and impeccable service have been part of the restaurant’s mainstay over the past 5 decades, the big attraction is of course the food. With award winning master chef, Cecil Jagdath at the helm, epicureans are in for a culinary treat with Marguerite’s assortment of creative and flavourful dishes. Challenged with making a selection from these delectable choices, a visually striking sampler with juicy pork tenderloin stuffed with callaloo and dried fruits, mouthwatering coconut shrimp, and a succulent beggar’s purse made with jerk chicken mousse, wrapped and deep fried, may entice the taste buds further but completely muddies your decision making process. Rest assured, everything on the menu has been prepared to please the most discerning palate so any selection is, in essence, a good one.

Beyond the stage lies a chic bar, brightly lit up to showcase the wide, premium selections of beverages and spirits on tap, including an expansive martini menu with tasty Lychee Flirtinis, Appletinis, Mudslides and Island Cosmopolitans. With the industry’s most talented mixologists trained by the very best at Diageo, CPJ and Appleton, visitors enjoy attentive service and short wait times, as they indulge in refreshingly delicious drinks.

Blue Beat

After a satisfying meal at Marguerite’s, guests can take a few short steps over to the neighbouring Blue Beat to enjoy an upscale nightclub experience. The lounge is fittingly decked out with blue walls, ambient blue lighting and plush blue seating, while dark floors, black and white photos of jazz musicians and sleek flat screens, have transformed this intimate mecca into a modern space. Heading out to the open air patio, the laid-back lounge gives way to a lively club. To create a truly unique, entertaining experience, Blue Beat is always mixing up their lineup of guest DJs, pulling in popular personalities from Kingston, Miami, Las Vegas and the UK, so no two nights are ever the same. House music in particular has proven to be a huge hit among club goers, with its energetic, global sound that’s sure to get the crowd moving and partying for hours into the morning. “Blue Beat’s opening hours during the week typically run from 6:00 p.m. until about midnight”, explains Andre Boswell. “But over the weekends it can go until pretty late so we have more of a ‘whenever the party ends’ policy when it comes to closing hours on Fridays and Saturdays. We manage it accordingly since we’re definitely not in the habit of kicking people out when they’re having a good time.”

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FEATURE

The Remedy To The

J

High Energy Cost Disease

amaica normally experiences approximately 300 days of 80% or greater sunshine per year, and because of its proximity to the equator, it also experiences very hot days. With the forecast increase in temperature due to global climate change, 2014 has already recorded significant highs. Further, because buildings in Jamaica are constructed to withstand hurricanes and earthquakes, the composition of the materials used is a very poor temperature barrier. The walls, roof, and foundation, serve as heat barriers and play an important role in determining the amount of energy needed to maintain a comfortable indoor environment relative to the outside environment. This is a critical factor in energy efficiency and energy costs. According to the Center for Climate and Energy Solutions, in the USA, ventilation, cooling and space heating account for the largest portion of end-use energy consumption in commercial and residential buildings in the USA - 32% in the commercial sector and 52% in the residential sector. In Jamaica, this is estimated to be 50%-60% for the commercial sector. The solution is SUPER THERM® !! SUPER THERM® is a ceramic coating for industrial, commercial, petrochemical and residential applications. Based on the manufacturer’s specifications which guarantees performance for 15 years [conditions apply], SUPER THERM® has to be professionally applied. Prior to application the integrity of the surface will have to be checked and any necessary remedial work done. Based on its composition of specific ceramics and resins, SUPER THERM® is designed to prevent solar heat from loading on all external surfaces (buildings, vehicles, containers, tents, etc.) Coating roofs with SUPER THERM® will greatly reduce heat penetration. When the exterior walls are also coated with

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SUPER THERM® the reduction will be significantly greater. This results in greater energy efficiency and reduced energy costs. Prior to introducing SUPER THERM® to the Jamaican market, we wanted to ensure that it would be just as effective under local conditions. In this regard, the Ministry of Science, Technology, Energy and Mining in conjunction with the Engineering Regiment of the Jamaica Defence Force (JDF) conducted a controlled test. The Air Wing Technical Stores building which houses sensitive avionics equipment that need to be stored in a cool environment was selected for the test. Over a 65-day test period using a rate of J$40.00 per KWH, the JDF realised savings of J$306,240.00 in energy costs on that one building. Without SUPER THERM® the energy used over the 65-day period would have cost J$746,440.00. This represents a 41% reduction in the energy cost and an achieved Return on Investment of four months which also demonstrates its affordability. Investments made in protective waterproofing materials (asphalt membrane, sprayed polyurethane foam, etc.) can be protected and enhanced by applying SUPER THERM®. Also, by applying SUPER THERM® the underlying protective material will itself be protected from solar radiation, causing greater protection and longevity. Additionally, the warranty received on these materials will be enhanced by our manufacturer’s specified performance guarantee of 15 years. TESTED AND PROVEN: SUPER THERM® is one of the most independently tested ceramic coatings on the market, passing more than 37 ASTM International tests and earning numerous certifications including ISO-9001. Validations have been received from NASA; the US Department of Agriculture Energy Star; Factory Mutual; International Code Council; Japanese Industrial Standards Corporation; China Center for Technical Testing; Green Label; LEED; DNV; MBDC Gold


Certification; Marine Safety Council; US Federal Authorised Vendor and Contractor Approval; Russian Academy of Science and much more.

SUPER THERM®

• Proactively prevents 95% of solar heat gain on all external surfaces • Shatters air conditioning costs and reduces overall energy cost. • Minimises maintenance cost associated with contraction/ expansion on surfaces • Reduces sound waves • Makes surfaces safer and more resistant to flash fires • Prevents mold and mildew growth • Prevents moisture infiltration When SUPER THERM® is applied, the surface temperature will always be ambient, or near ambient, (within 1-10 degrees, depending on humidity levels). For example, when a roof is protected with SUPER THERM®, it will, on a 85º F day, maintain a surface temperature of 85ºF or near 85ºF, regardless of the material used for its construction (metal, fabric, asphalt, concrete, etc.), rather than soar to approximately 140º-200ºF without SUPER THERM® protection. Buildings that cannot load and conduct solar heat will have lower surface temperatures on their roof and walls, as well as lower solar BTU load and transmission that results in lower air conditioning and maintenance costs, which directly impacts the overall energy consumption.

Specifically, SUPER THERM® blocks 99.5% of infrared heat, 92% of visual light, and 99% of ultraviolet light. Due to its composition SUPER THERM® not only reflects visual light (40% of the heat load), it also blocks infrared (57% of the total heat load). Infrared cannot effectively be reflected by a coating that is merely white in colour, hence most external surfaces which are only painted white will still get hot, load with heat and feel hot to the touch. SUPER THERM® on the other hand performs long term even if it gets etched with acid rain or gets dirty, as happens with most roofs and external surfaces.

• • • •

HVAC systems; tanks; spheres; storage systems and concrete wall. As a system over metal, concrete, masonry and wood to stop moisture penetration and corrosion. Ability to resist dirt, mold, mildew and pollution to increase longevity and reduce surface maintenance. As a top coat over metal roofs, or an intermediate coat on flat roofs. Provides insulation and remains flexible when applied over fabric.

With SUPER THERM® you not only shatter air condition costs and reduce the overall energy costs, you can do so aesthetically. SUPER THERM® is available in different colours, with white providing maximum protection. However, the other options, even our darkest, still give above 50% protection. Tints are available in various shades of: Aqua

Brown

Green

Beige

Cream

Blue

Gray

Peach

Tan

Lavender

Pink

Yellow

Magenta

Purple

Globally, SUPER THERM® is used in the following sectors: Agriculture & Farming

Housing & Renovation

Shipping & Transport

Education

Industry & Manufacturing

Telecoms & Infrastructure

Energy & Mining

Military

Warehouse & Buildings

Sample of global customers: BP

Hyundai

Skoda

Canal De Panama

KIA

Sony

Chengdu International Airport

Kirin Brewery Co.

Toshiba

Chevron

LG

Total

Coca-Cola

Monterey Gourmet Foods

Toys-R-Us

Continental

Munich Airport

Tucson International Airport

DU PONT

NEC

US Department of Transport

ESSO

Nissan

US Military

Fuji Heavy Industries

O2

Vodafone

Halliburton

Panasonic

Walt Disney Pictures

Heineken

Pasfrost

Westinghouse Electric Co.

Honda

Portugal Telecom

YangSan Hyundai Farm

Don’t delay! Call or email us today to set your inspection appointment.

Typical Uses

• As a one-coat insulation system on exteriors to block the migration of solar heat gain on roofs and side walls. • As an insulation system for interior applications. • As an insulation for transportation vehicles; reefer trucks; refrigerated containers; and railroad cars when applied to the exterior. • Exterior application to reduce or eliminate condensation on

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FEATURE

Social Enterprises-

S

Businesses Built To Serve

ocial enterprises are emerging as the new and dynamic business model most able to provide solutions to Jamaica’s social, economic and environmental challenges, while being smart and sustainable businesses that maximise public good. These ventures engage in business activities that produce or sell goods or services for the purpose of generating revenue, which is reinvested to achieve social, cultural, and/or environmental goals. These goals or social missions can be anything from providing employment, skills training or education; to improved infrastructure for schools or community centres; or support services for the elderly or disabled.

contribute to the achievement of Vision 2030: to make Jamaica the place of choice to live, work, do business and raise families.

How are profits used ?

Some groups in the private and social sectors have questioned the notion of nonprofit organisations earning profits. Well it is what these organisations do with their profit that makes the difference. Whether they are small, medium or large enterprises, they all have one thing in common – they reinvest their profits to continue the advancement of their social mission and operate to improve the lives of the communities they serve.

The Social Enterprise Why the social enterprise Boost Initiative The Social Enterprise Boost Initiative (SEBI) model? is working to lay the foundation for a The economic climate has presented a need for solutions to sustain an array of social programmes. It is no secret that some NGOs and other socially-driven agencies have been forced to close or drastically cut their services due to lack of funding. The social enterprise model is a viable option for non-governmental organisations, charities and similar entities to reduce their dependence on grant funding or donations, while providing them with resources that will help them to achieve their social missions. This model encourages more sustainable social programmes and subsequently a stronger platform for sustainable development; which will ultimately

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vibrant social enterprise sector in Jamaica. SEBI is implemented by the Jamaica National Building Society Foundation in collaboration with the United States Agency for International Development.

Recognising that making the transition to a thriving social enterprise is not easy, the SEBI initiative provides strong technical and business development support to the sector. A key focus of the programme was to work closely with a selected group of pioneering social enterprise projects. These projects engage in diverse businesses, from mushroom growing in the hills of Manchester to venue rental and recreational services in Downtown Kingston.

Inside the Superior Crafts and More workshop


Preparing for egg sales at Mustard Seed Communities

Pioneering Social Enterprises

Superior Crafts and More is one of the pioneering enterprises. Superior’s social mission is to provide special-needs skills training and employment for the blind and visually impaired, thereby allowing them to lead productive and independent lives. Superior Crafts and More currently makes and restores furniture, using mainly wicker and cane, and also produce craft and home décor items. Grounded in a solid business plan, their commercial aims are to expand their custom made product line and refurbishing services, and provide high quality and environmentally friendly Jamaican furniture. The more success they achieve in their commercial aims, the more blind and visually impaired persons they can support.

Another social enterprise is Mustard Seed Communities, a renowned NGO, which is working to ensure the long-term care for children with special needs. The income generated through Mustard Seed’s farm initiative allows the organisation to sustain the care and shelter given to over 400 physically and mentally disabled children, including those who were abandoned and are living with HIV and AIDS. While Mustard Seed already had some income-generating activities, the SEBI project is helping the organisation develop its tilapia fish and chicken enterprises. The social benefits from this expansion will allow Mustard Seed to provide further training to community residents and widen its social outreach across the island; therefore increasing the positive impact of their efforts among some of Jamaica’s most vulnerable groups.

How can persons support social enterprises?

Invididuals and organisations can support social enterprises by buying their products or services. They can make financial investments to support these organisations’ growth or they can serve as volunteers to help increase their capacity. By supporting social enterprises persons will directly contribute to changing lives and building Jamaica’s communities. For further information visit: www.sebijm.com Follow @SEBIJM on Twitter. Like SEBI Jamaica on Facebook.


FEATURE

Amputee Farmer Receives Energy-Efficient House From Food For The Poor

S

ixty year-old Aston Smith, an amputee farmer from Arlington, St Elizabeth, is expressing his gratitude and appreciation to Food for the Poor (FFP) Inc. in Florida for building him a new energy-efficient house.

Mr. Smith was one of the 40 people who received keys to a new house under FFP’s Father Tony Village Project. Father Tony, after whom the project is named, is an elderly Floridabased pastor who has been doing extensive fund-raising for FFP projects in Jamaica. Mr. Smith was involved in an accident while assisting a friend in cutting wood for the construction of an enclosure for cows some years ago. He was hospitalised with a broken leg and eventually released. Sometime later, he started experiencing severe pain in his leg, which doctors diagnosed as poor circulation. They then encouraged him to remove his leg in an effort to preserve his life. “I was hesitant because I didn’t want to lose my leg, but seeing no

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improvement after a month in hospital, the doctors said the leg had to go and I finally agreed”, said Mr. Smith. After losing his leg, Mr. Smith said he felt distraught, but decided that he did not want to be counted among the voluntarily unemployed in Jamaica. Therefore, he remained active in farming. Although hardworking and determined to achieve, Mr. Smith could not afford to build himself a house. He had been living in an old one-room wooden shack which he constructed on lands given to him by a friend. That shack was also a dwelling for roaches, rats and other rodents and had no electricity, no running water and no proper sanitation facility. After talking with Mr. Smith members of Food for the Poor decided to build him a house under their recent Father Tony Village Project. “Although amputated, Mr. Smith is a hardworking farmer. He is determined and contributes to nation-building in many ways. His living conditions were not suitable for any human being so Food for the Poor had to help him” said Mr. David Mair, Executive Director, Food for the Poor Jamaica. “In addition to the house and furniture, we try to make every house given as energy efficient as possible, with energy saving bulbs”, he said.

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COVER STORY

ENABLING

THE FUTURE Lessons from Sean Latty’s Life By Dennis Brooks

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W

hether you believe in the guiding hand of The Almighty, the sordid humour of fate, the stubborn compelling force of destiny or some strange cocktail of any or all of the above, there is a certain belief that many of us hold dear to. For one reason or another, people have come to believe that the universe gives us the tools we need to navigate the journey of life. That isn’t too outlandish a belief to subscribe to. At any point in our lives we could be presented with a situation that gives us the opportunity to acquire some skill, learn some lesson and evolve further into that person we need to become. There are ‘teachable moments’ in every life challenge – good or bad – that makes crucial deposits in life’s well of much-needed experience…which we hope will teach us wisdom later in life. Sean Latty may not yet have lived a long life, but his journey is one that has been blessed with a wealth of valuable experiences. Those experiences have emboldened him with a sense of confidence that drives him forward; motivating him to achieve success in everything he puts his hands to. The very good news for the customers, team members and investors at Columbus Communications Jamaica Limited (Flow) is that those unique experiences have made him the perfect man to take hold of the reins as the company’s managing director. Latty’s leadership at Columbus Communications only began in June this year. Yet, what we discovered in our heart-to-heart with him is that, he was being equipped for this latest adventure in leadership so many years ago. In a conversation punctuated by much laughter, the very selfassured managing director of one of corporate Jamaica’s most successful companies took us through some of the dimensions of his life that have been responsible for making him the person best fit to lead Columbus Communications at such a time as this.

Lesson One: Rurality is a Blessing ‘Humble Beginnings’ have been used by some as capital to launch their political careers. It sounds good when you say it because it helps you to make a connection with the masses. But such beginnings are worth far more than just something to write in your political bio. Born in Kingston, Latty’s early life was spent in rural Jamaica. He moved to James Hill, Clarendon very early before settling in the cool and tranquil town of Point Hill in St Catherine. This quiet farming community provided him with a platform from which he could explore various dimensions of his personality and acquire skills he’d need much later in life.

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“Where I grew up, you had access to water but there was no light. We actually had a kerosene oil fridge! So when you had your homework, you either did it early or by the Home Sweet Home lamp. So you had to get home by a certain time.” Latty explains that from very early, rural life helped him to grasp the importance of time management. “You knew that by 6 o’clock it gets dark and you’d be asked: 'Why didn’t you come home early and do your homework and not be burning the lamp?' I wear glasses today. Maybe if I had just listened, I wouldn’t be.” He notes that his early experiences having to make do without certain amenities, have caused him to adjust easily when the luxuries of modern urban life are absent. “Rain would fall and we’d fill up the bathtub with water. We’d all bathe in it and it was freezing cold! Today I can appreciate some of the finer things. Certain things I know I can live without.”

Lesson Two: A Culture of Education Many column inches of Wealth Magazine have been devoted to sharing stories of successful entrepreneurs and managers who were literally born into the businesses they run. Those businesses act as cocoons; nurturing the growth and transformation of the young one inside it. But other family contexts do provide those perfect incubator conditions too. In Latty’s case, he was blessed to have been born into a family of educators. For him, having people around him who all seemed to have the same thirst for knowledge and the sharing of it, helped him to conform to a certain discipline from very early. He didn’t just live in Point Hill and attend Point Hill All-Age; his grandmother was – at one time or another – the vice principal and then principal of the institution! Additionally, his mother has been a long-serving teacher at Jonathan Grant High School in Spanish Town, while his aunts and other relatives were also members of that ‘noble profession’. He explains that there was pressure from day one to wear the Latty name with pride and distinction. “Coming from my family background, they ensured you stayed focus on your work. I remember one time my grandmother and mother saying that if I didn’t pass my CXC subjects, I would have to find somewhere else to live. So I thought it was okay, I could go live with an aunt. But then my aunts – who were all teachers and educators as well - would say the same thing! Sean Latty is the first to admit that he was no perfect child. And yet, his family name loomed large in his life and taught him some valuable lessons about responsibility. “I hung out with a lot of idlers. Travelling from Spanish Town


to Jamaica College (JC), the opportunities were endless. There’s no mother putting you on a bus or uncle guiding you. So you had freedom. You just had to ensure that even if you strayed a little, it was never too far. I was always someone people would follow so I tried to motivate them.” Even to this day it comes across. “At the time I thought my grandmother is a school principal, my mother teaches at Jonathan Grant, I go to JC, I also attend Phillippo Baptist… teaching Sunday School, involved in youth fellowship. I have to ask myself ‘Am I living an exemplary life?’ I was mindful of people calling me a ‘one-day Christian’ but also of the peer pressure at school as not coming across too soft. I always remembered, ‘A soft answer turneth away wrath’. But how soft must that answer be?”

Lesson Three: Pursuit of Adventure In Jamaica, when you live outside of Kingston’s bustling metropolis, there’s a natural fascination with ‘town’. Even if you’re from another urban center like Spanish Town, there’s still nothing quite like it. That fascination is not lost on children, but it only represents part of the allure of passing your Common Entrance for a ‘town school’. But, while most children at Point Hill All-Age were dreaming of attending one of the parish’s top institutions, like St Catherine High or St Jago High, Sean Latty’s sense of adventure made him crave the ‘town school’ experience. “I wanted to be different. I wanted to see if I could make it all the way out there. I was excited about coming off at ‘The Clock’. When you’re little, everything looks so big and confusing. It was intimidating at first but I was always able to make friends. So coming all that way, you found persons from other schools like St George’s and Wolmer’s who were going in your direction. I learned that there was strength in numbers.” In many ways, Jamaica College was a microcosm of wider society for him. He admits that he did revel in the opportunity to rub shoulders with children of all socioeconomic backgrounds, but insists that no one was made to feel superior to anyone. Latty reflects on how impactful journeying to Jamaica College was in shaping him into the man he is today. “I learned some key life lessons from travelling so far to school. I learned the value of time and to respect people’s time. I learned to lead from the front and so today I won’t ask someone to do something that I’m not prepared to do. In sixth form, I was active in the Sixth Form Association, I ran for Head Boy and got beaten by 2 votes. I was on other committees and coordinated lots of activities. I look back and I’m glad that I did those things, because they gave me responsibility and made me accountable.”

Lesson Four: Haste Makes Waste Ironically, Latty’s love for Saturday morning football provided him with a context to learn some valuable life lessons. Living in the heart of Spanish Town during his teens, his mother demanded that, if he was to play football with his friends, he would have to do the shopping for produce in Spanish Town Market first. He admits that he didn’t always pay the necessary attention to detail. “I would go in early to the market, rush and just throw things into the bag and head out to football training. It took a long time for me to learn that I needed to take my time and select the things properly. I learned that getting the best deals from the market takes time and attention. That experience has also made me a more rounded individual.” But Latty admits that such lessons didn’t always come to him readily. In fact, he shared one story of how it took some ‘strong physical reinforcement’ for him to learn to slow down and take the time to do things properly. “I remember back in the 1970s when things were scarce. They used to marry items in the supermarket. My mother used to make homemade milk. She sent me to the supermarket to buy granulated sugar and I just ran in, took it up and put it in my bag. When I got home, my mom took it from me and started making the milk. Soon into the process she tasted it and realised I had bought salt! I got such a hiding, but that taught me that, ‘haste makes waste’.” So now, when everybody is rushing around, Sean Latty is the manager saying “Let’s calm down. Lets relax and make sure we me are taking the right decision in a timely manner.” He’ll be the first to tell you that he doesn’t venture anywhere near the market today. But he readily admits he values those early experiences. “I don’t like having to go back and do this all over again when silly mistakes are made because of haste. In a work environment, when you do that, you’re burning dollars. Going to market taught me to be that much more levelheaded.”

Lesson Five: Launching Out Sean Latty’s well-honed sense of adventure has allowed him to have an eventful professional life involving gaining vast experiences in a variety of cultures across the Caribbean. His parents couldn’t afford to send him to university right out of high school so he got a job at Air Jamaica and decided to work while studying. At 22-years- old and after just a year on the job, he was made a supervisor in the company’s Cargo Department. He explains that: “I was at the right place at the right time and I showed good work ethic. It was an important time for the company. Gordon ‘Butch’ Stewart had just taken it over and they were doing

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" I see my role as building and driving the business forward to speak to the tenets of a strong network and great people."

– Sean Latty , Managing Director Columbus Communications Jamaica Limited

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some redundancies. They needed a supervisor and they just looked at the people there who were performing well. So at a young age I was given that task of managing 33 people for five years.” The decision of telecommunications giant, Digicel, to set up shop in Jamaica and the wider Caribbean in 2001 represented the beginning of a journey that would take Latty to several islands in the region. By this time, he was working at the Jamaica Tourist Board, but once Digicel came to town, they immediately identified his talents and abilities. Within a year of working, he was promoted to team leader. Within a year of that, he was asked to relocate to Aruba for what was promised to be four weeks; that turned out to be a whole year. He would eventually assume operations manager duties in Grand Cayman. His preparation for life at the helm of Columbus Communications would take him to St Kitts & Nevis and St Vincent & the Grenadines. “The values I learned at Air Jamaica were crucial. I always had to be on time; always had to pay attention to detail. At Digicel there were huge learning curves but I loved the challenge. The foundation was laid from when I was young.”

Lesson Six: Enabling the Future Sean Latty has been at the helm of Columbus Communications for a matter of months, and yet he continues to be amazed by the quality of the team assembled for him to work with. “When I was coming, I was told that I would be working with good people but since I’ve been here, I’ve constantly seen greatness being delivered in everyday interactions with the people I’ve worked with. Coming in the hot seat and seeing the hard work that Michele [English] put in, it’s clear that the differentiator for me is to complement that by cementing Columbus …Flow as the first choice telecommunications provider.”

For him, picking up the mantle from Michele English is not a difficult task. He sees her tenure of leadership at the organisation as serving a different purpose from his. “I think Michele’s role was to build, put the foundation in place and ensure that the pillars are strong; and they are! I’ve come in and in three months, what we’ve been able to achieve in a short time is proof that a strong foundation was there. I see my role as building on that and driving the business forward to speak to the tenets of a strong network and great people.” Already, Latty has set out on a mission to ensure the market is aware that Columbus Business Solutions has a diverse portfolio of products to offer; by way of Managed Services, Wifi Networks and different solutions that drive businesses. However, he’s acutely aware of the fact that without good customer service, all of the hard work will have been for nothing. “That is going to be a key differentiator. When you put the suite of products out there and diversify the revenue streams, we have to complement that with excellent pre and post sales support.”

Fixing Problems of the Future

The phrase ‘Logistics Hub’ has emerged on the lips of most who are interested in Jamaican industry, investment and commerce. The Hub represents the essence of the country’s economic growth agenda, but it cannot do so without the proper infrastructure and ecosystem in place to make it work. It’s in this regard that Columbus is way ahead of the game. “Everybody is saying that the Logistics Hub will be the game changer for Jamaica; which is true. But I find that a lot of people who want to get involved in a logistics hub scenario and to make it work will need certain technology and solutions.” Latty adds, “When we were building out our network, we did all the groundwork long ago. We have put in an infrastructure, products and solutions to problems that people haven’t even encountered yet. From large clients to SMEs we are already there to say ‘we can empower and guide you to do this.’” He proudly explains how far ahead of the rest of the market Columbus is, “The last thing SMEs want to think of is buying large servers and putting in hardware. Well our Cloud PBX Solutions and Managed Services remove that element of money that they have to spend on capital investment. They can therefore focus on the delivery of their products. We’ve made that investment and continue to invest in it. Columbus Business Solutions presently uses a mere 10% of its available network, and that is connecting over 40 countries.”

Sean Lattey and Michele English at a soiree to mark the end of Michele's eight-year stint at the helm and to welcome Sean to the role of managing director.

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Sean Latty’s life meandered, twisted and turned more times than Spur Tree Hill. His journey has been one that has presented him with challenge after challenge as well as opportunity after opportunity. Yet, in every instance, Latty has used those challenges as ‘teachable moments’. He has grown with every hurdle he has surmounted. Each lesson he has learned along the way, has enabled his own future in much the same way that Columbus Business Solutions seeks on a daily basis to enable the future of the Jamaican economy.



FINANCE

Things To Know

ABOUT IPOs

A

s Jamaica’s capital markets and by extension, its economy matures, we will find that more things become a matter of public record. The days of private notes and equity purchases remaining secret are long gone as more companies and individuals have started to tap into the general public for funding needs. The rise of the Junior Stock Exchange in 2009 and the listing of 22 companies in the 4 years which have elapsed attest to this sentiment. Further, the proliferation of corporate notes, which have graced newspapers and the mass media also suggest that the wind of change is blowing across our nation’s shores. This is a welcomed change, as it allows for greater access to financial instruments and broadens the scope of investor knowledge as we continue to develop. Culturally, we have trended towards privacy, which has led to other social ills which will go unmentioned. But when one compares

46

By Ryan Strachan it to the United States for instance, the change was inevitable. While anecdotal, evidence suggests that investors tend to place funds in what they understand. It affirms why the Facebook Initial Public Offering (IPO) in 2012 was so popular among Jamaicans, as many of them use the service. In the USA, most of the companies with which individuals do business as publicly-traded companies, and perhaps a reason why they continue to grow and get additional business is that of self-interest. Investors are likely to feel that as they spend money with a company they own a piece of, they are contributing to their own success. It also seeks to explain a bit why some of the IPOs have done as well as they have in such short periods of time, despite many of the most popular Jamaican companies remaining as private institutions for the time being. The elephant in the room is that, more often than not, transparency brings increased scrutiny and the need for compliance with measures that may not be necessarily faced


by a private institution. To that end, it may seek to explain why many companies opt to remain private, rather than open their books to the general public and thus face many more eyes than they usually would. The discussion surrounding an IPO can be approached from multiple sides, two of which are, that of the investor seeking to invest in a company which is about to list, and that of the entrepreneur floating a percentage of ownership in said company. An entrepreneur seeking to list the company they have spent many years developing must first be aware of the implications of listing. Whichever stock exchange bears responsibility for the trading of the shares in the company will have rules and regulations by which every listed company must abide. Usually, there are specific timelines within which one must release quarterly financial statements, report material events (executive departures, acquisitions/discontinuation of business lines) and generally interact with the public. Naturally, this can be quite a paradigm shift for an entity which was previously used to keeping all information in-house.

The investor should be aware that buying into an IPO should be driven by the desire to own a piece of the company for the foreseeable future and not to speculate on an increase within a few days, weeks or months. The investor, particularly in overseas markets, should pay close attention to the news regarding earnings guidance and whether there have been any material issues regarding the company to have surfaced just ahead of their listing. It would serve the investor well to assess the performance of the listed company’s publicly-traded competitors for insight into the issues their potential investment may face and the expectations for their holding. An IPO is at its heart, an equity investment and should be treated accordingly. It is the literal taking of ownership in an entity and investors should be cautioned to purchase only Interacting with publicists, PR Companies, those which they would be comfortable holding for an extended (in some cases) international audit and legal period of time. firms, stockbrokers and bankers may require an adjustment period for the aforementioned Please be guided accordingly. entrepreneur. The individual(s) may suddenly find themselves with tremendous amounts of liquidity (by virtue of their equity being afforded a legal and transparent marketplace) and great care must be taken to ensure that appropriate financial planning measures are taken. Treasury management procedures need to be implemented within the company to ensure the liquidity is given its due care. Stories are told of the then CEO (now Chairman and Founder) of eBay, Pierre Omidyar, launching the company on Labour Day weekend in 1995, raising funds in 1997 at a valuation of US$22 million which then made Mr Omidyar a billionaire months after the September 1998 IPO. Can you imagine the catastrophe that would have resulted had he not had the proper support in place? That is sufficient capital and success to drive anyone crazy.

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FINANCE

Indicators of a

E

Buoyant Economy

conomic analysis plays a vital role in the responsibilities of most stockbrokers I’ve had the privilege of crossing paths with. Such practitioners tend to spend so much time following economic trends that they are often moonlight as economists, should the need arise. The reasoning is simply that, markets and economies are inextricably linked and as such, it behoves one to be aware of the behaviour of an economy to better advise clients regarding where they should place their hard-earned principal. Years past have seen ‘bull’ and ‘bear’ markets in which global economies experience recessionary times, and of course, the markets followed them. Stories of 2007/8 abound, and while they won’t be repeated, the necessity for knowledge of economies is established. With all that said, in anticipating contractionary economic environments, contemporary analysts are all too aware of the respective signs having lived through the worst financial climate since the Great Depression. The converse would be, what constitutes a buoyant economy, and what should the average layman be aware of when assessing indicators?

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By Ryan Strachan

That is what this discourse aims to draw attention to.

Gross Domestic Product (GDP)

First, reasonable GDP growth is the first indicator of a buoyant economy. Growth too aggressive may not be ideal for a number of reasons, the least of which is sustainability and whether it will lead to high rates of inflation. Consider China, whose lowest rate of annual GDP growth in 15 years is 9.2% per annum. It sounds fantastic, and is quite an accomplishment, but high rates of growth in economies, just like companies, can have disastrous effects if not managed properly. One such example is that of asset price ‘bubbles’ and hyper-inflation. As it is right now, in 2007, when the GDP was north of 17%, inflation in that same year was encroaching on 10%. This was hardly desired in an economy which could be subject to low consumption levels as per the abiding culture in many of its residents. So what of inflated asset prices? Well, China is now, in 2014, in the midst of a real estate bubble which resulted from this hypergrowth of the early 2000s, and the eyes of the world are on emerging markets such as itself. The unfortunate reality is that growth is now slowing


drastically, and the overly-inflated bubble has been losing air at an alarming rate. So much so that the earnings outlook for listed companies have suddenly become very conservative from the standpoint of growth expected from emerging market economies, with China being the foremost. It would bear the reader well to recall that the global financial crisis of 2007/8 was in part predicated on a stateside real estate bubble in the USA which was driven somewhat by subprime loans/mortgages which reflected a fall in due diligence standards exercised by lending institutions.

Rate of Inflation

Along that line of thought, a second indicator/sign of a buoyant economy would be that of a reasonable rate of inflation and accommodative monetary policy i.e. relatively low interest rates. As the reader will perhaps start to recognise, economic indicators are all linked and are subject to a delicate balancing act. In this precarious global economy, countries in recovery such as the United Kingdom, the USA and Japan have set their benchmark inflation rate – signalling bonafide economic recovery – as 2% per annum. One does not want to see prices falling, nor them remaining the same, as global prices of inputs will rise, and as such, prices should move in that direction. Economic deflation – falling prices – is unfortunately a negative indicator which should be avoided.

Reduction in Unemployment

Finally, the drum of falling unemployment has been beaten and we all know the tune. The fourth and final indicator, with all this said, is not falling unemployment, in the general sense, but a very low youth unemployment. Youth unemployment is described as “the unemployment of young people, defined by the United Nations as 15–24 years old ”. Needless to say, even if one were to speak anecdotally, youth unemployment is an epidemic which has greatly contributed to many of the ills in society. Idleness results from swathes of spare time, and the adage of the devil finding work for idle hands is certainly true when one considers that 25% of all crimes are committed by those under the age of 18 years in the United Kingdom. Further, the majority of criminal gangs are composed of youths who do not foresee living past 30-years-old. One need not expound on the deleterious effect that gangs have on the world at large.

Growth in Exports

Any analyst noticing an economy achieving growing exports and the growth in new businesses being started and thriving would be encouraged, and this is the third point. For a country such as Jamaica, which is heavily reliant on international trade – mostly imports, unfortunately – and foreign exchange earnings, all stakeholders would be thrilled to see growth in exports. This will have the benefit of foreign exchange inflows into the nation’s coffers. Further, a premier local entrepreneur – a magnate, if you will – was quoted as saying that an economy is simply the grouping of many small businesses, and this writer is in total agreement. Employment is driven by the private sector – or should be – and as such, an influx of new businesses will augur well in this regard.

The final impact of youth unemployment is that children move back into their parents’ home for longer periods after tertiary education and the sustainability of the workforce is threatened when the youth are unemployed. The inability to acquire skills critical for performance in the workplace also threaten the youth and delay their development, and as such, lowers their earning potential for up to 2 decades, it has been said. To conclude the discussion about the importance of youth employment to an economy’s sustainability, is it any wonder that Germany – which is perhaps the strongest economy on planet earth – has a youth unemployment rate below 8% while Spain – which is in the midst of a severe financial struggle – has a youth unemployment rate above 50%?

I rest my case. 49


FINANCE

Winning Investors Over By David Mullings

J

amaica is in on the search for a blueprint to growth and many eyes have turned to earlystage startups and fostering innovation. Money has been committed by major private sector players to capitalise a few venture funds and an accelerator, Start-Up Jamaica, was launched this past summer, adding to helpful centres like the Branson Centre for Entrepreneurship - Caribbean. Many entrepreneurs have asked me for advice in raising capital since we have been able to raise money in the past for a few projects and now actively seek out investment opportunities. That has taught us invaluable lessons. The first thing I tell anyone is that it is not easy. You will probably speak to 60 people and raise money from only one. An entrepreneur has to be willing to accept rejection and not take it personally. Be sure not to burn those bridges either because they might well come back to fund your venture in a future round or be asked by someone else considering investing.

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Winning investors over starts with a willingness to talk about your ideas freely as my friend Michelle Messina said during a Silicon Valley presentation she invited me to. She made it clear that you should not share your trade secrets but you never know who might be willing to help you. That is how I have met numerous people who opened doors; I spoke about my ideas every chance I got. You cannot be a paranoid entrepreneur and get very far. You must be confident enough in your ability to execute better than anyone else pursuing the same idea because if it is any good someone else has the same idea as well or will start competing the minute you prove there is a sizable market. Your idea must solve an actual problem for a price less than the economic cost. A simple example: a company in Jamaica seeking a steady supply of electricity will not be willing to pay more than the cost of keeping JPS in order to solve the problem so your solution must be cheaper. Solutions always provide a savings either by reducing cost or improving productivity.


Few investors will invest in just an idea unless the founders are serial entrepreneurs with successful track records. Most entrepreneurs will need to have some traction. Jonathan Baer of Threshold Ventures also presented with Michelle and put it simply: “Investors like momentum” so you need to start something and be able to speak to any milestones to date. He also points out that while the world generally thinks that venture capitalists like to take risks, the opposite is actually true. They are very risk averse, hence why they invest in so few deals. Investors actively try to minimise the risk of losing their money and so look for factors that help such as founder experience, team, market size, meaningful milestones achieved and exit strategy. Winning investors over is never guaranteed but if you have a decent idea, a strong team and achieved some traction (what investors like to call “market validation” which refers to proving there is some demand for the product or service) then you have a higher chance of securing capital. The trick is to get the right introduction because investors rarely invest in ventures that come out of the blue. How do you get the right introduction? Talk about your ideas to people, go to the places where you may meet potential investors and ask your lawyer or an advisor for introductions. If you don’t have any advisors then you need to get some quickly. Lawyers are required if you plan to scale the company so be sure to start considering different firms. Most entrepreneurs do not realise that fundraising is a full-time job and the person undertaking it has to be the best presenter on the team. Everyone should not present to investors. It takes practice to perfect your pitch as well so test it on friends, family and keep refining based on feedback from each investor

meeting. Do not get discouraged but instead incorporate the lessons and anticipate the questions that will be asked based on past experience. If you have a demo then start with it. Too often an entrepreneur focuses on the idea when they have a prototype. If you have something surprising like showing how something is currently done and how much easier your product completes the same job then lead with that and leave a mark. Show, don’t tell. Some investors will ask you how you make money and if you have not thought through a business model then you are not ready to raise outside capital. Understand the competitive landscape, understand your projected cash flow if you raise the money, be clear about the use of funds, know what skills must be added to your team (specific people to hire would be even better to have) and be likable. Take time to read about the different kinds of investors so that you understand your audience when you meet and make the effort to read about the different terms that investors serious about putting in capital will ask about such as voting rights, liquidation rights and more. You really do have to put in work to understand what a term sheet will look like. Do not simply say that you want $100,000 for 20% of the company and not have an answer to specific terms they will bring up. Also have an answer for your exit strategy. It could very well change, but have an answer. Baer shared a Top 10 list for raising capital and I am happy to share it in this article. 1) It’s not about the product or the tech. It’s about the business. 2) It is easiest to raise money when you don’t need it. 3) Have a compelling story and practice, practice, practice. 4) Know your audience - understand who they are, what experience they have and what motivates them. 5) Tell a story 6) 80/20 Rule - If you are there to talk about a product then 80% of your time should be about the product and 20% about the business. If you are there to raise money then 80% should be about the business. 7) Milestones 8) It’s not about the numbers, it’s about the assumptions that lead to the numbers. 9) Find points of leverage and do not try to do everything the hard way 10) It is a very very small world. David P. Mullings is a Managing Partner of Keystone Augusta Group, a single family office which manages a portfolio of investments covering companies involved in investments, private equity, music, film, mobile apps, clothing, energy production and sustainable technology.

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FINANCE

Building a Supportive

ECOSYSTEM for

ENTREPRENEURSHIP By David Mullings

T

he topic of entrepreneurship and the importance of creating a viable ecosystem to support startups has taken centre stage in Jamaica this year. The successful launch of Startup Jamaica which involves Oasis500, a Jordan-based accelerator, receiving far more applications than the 60 spaces available for the first cohort shows that ideas good enough to be accepted for further development exist and entrepreneurs are willing to part with equity to help realise their goals. The Development Bank of Jamaica has also made tremendous progress in its push to create a venture capital fund focused on Jamaica, including bringing in major private sector partners who have committed between US$500,000 and US$2 million each. The search is now on for individuals to manage the

fund or funds. However, the DBJ team wisely recognised that access to capital is not the only problem facing local entrepreneurs. In fact, giving an entrepreneur money alone is usually a recipe for disaster and most venture capital firms and angel investors in the USA (a more mature market) know this. A sustainable ecosystem must include access to equity capital at the early stages, guidance and training to help with growing the venture, networks to provide access to talent and markets overseas, and reasonable ways to provide an exit for early investors. Successful start-up ecosystems usually have formal angel investor groups - funded incubators that allow someone with an idea a home to start working on the idea, get guidance and network with fellow entrepreneurs all trying to get to the next stage. They have accelerators Cont'd on Pg. 56

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that help existing companies speed up their time to market and showcase them to more established investor networks; they also have formal venture capital firms looking to take calculated risks. In addition, there is usually a university involved at some point along the line, either hosting something formal like LaunchPad or running a simple business plan competition. Jamaica is slowly getting there but it will require a complete change in the mindset of potential investors. Seasoned venture capitalists and angel investors understand that 5-year projections are best guesses, that none of them can accurately predict how a company will do, that they will probably write-down more than 50% of their investments and that this is the price one must pay in order to foster entrepreneurship and support the creation of companies like Apple, Google, Amazon, FaceBook and even the less sexy Threadless, Zappos and Huffington Post. I deliberately list non-tech companies because we must not limit ourselves to that industry. The investors will eventually come around because they can no longer depend on Government of Jamaica bonds to pay them big interest so the hunt for yield is on. However, the quality of the deals that they will be looking at must also increase and that is where accelerators like Startup Jamaica and entities like the Branson Centre for Entrepreneurship - Caribbean come in to play. Most venture capital firms will tell you that they only invest in three or four deals for every 100 they see and they only look at a

subset of all the ones they get introduced to. Jamaica does not yet have that level of deal flow and so a concerted effort to help entrepreneurs properly develop their ideas to be presented to investors is going to be critical. At the same time, we need to instill an automatic disposition to think globally when formulating a plan. Too many entrepreneurs are thinking about just the local market instead of recognising that the market is tiny; many larger countries face similar problems. Therefore, if you can solve a problem in Jamaica, you can probably solve that problem in Ghana which has 30 million people. Jamaica is the ideal test market for many problems faced by developing countries around the world. We have not pushed hard enough to get our people to think big and until we do that, no serious venture capitalist will look to Jamaican start-ups and early-stage ventures because the need exits in the tens of millions to recoup their investment and continue operating. Thinking local makes it that much harder, especially because of the limited exit options. Digicel is a great example of being entrepreneurial, thinking big and starting with Jamaica as the testing ground. They solved a real problem here and then applied those lessons to other similar markets, creating a multi-billion dollar business. My line of business exposes me to business pitches frequently and not many of them are thinking big. I must single out the Branson Centre because I was very impressed with a number of the pitches I had to judge in April, so much so that

I am looking into investing in no fewer than four of them if we can agree on terms. One Branson Centre alone though will not build the ecosystem. We need three or more entities like that across the island. We now have First Angels Ja, the first formal angel investor group in Jamaica and that bodes well for getting more of the people able to take risks with capital to become angel investors. This will help to provide a venture capital fund with more qualified deals to consider since they would not need to be the first money in. My personal desire is to see a Diasporaled investment fund that would work within the emerging ecosystem to provide capital, advice and networking to Jamaican entrepreneurs. I have been discussing it for years now i hope to see it materialise in 2015 now that the government has shown that it is serious and the private sector is finally putting money where it needs to go. David P. Mullings is a Managing Partner of Keystone Augusta Group, a single family office which manages a portfolio of investments covering companies involved in investments, private equity, music, film, mobile apps, clothing, energy production and sustainable technology.

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FINANCE

FATCA what it means for you By Sancia Campbell

T

he Foreign Account Tax Compliance Act (FATCA), which came into effect in July this year, is not expected to cause many challenges for the average Jamaican once individuals can successfully substantiate their nationality. According to the available information on the Act, the main requirement for Jamaicans would be answering additional questions from their financial institutions in order to verify their nationality.

For United States (US) residents and citizens who hold financial interests in Jamaica, the Act means that they are now less likely to dodge tax obligations in their own country. FATCA now mandates local financial institutions to report to the US government on any financial accounts or other financial assets held by ‘US persons’ in Jamaica. A US person may be defined as anyone born in the US or anyone who has a US address, a green card or anyone who visits the US for at least two months each year.

FATCA was established in March 2010 by the US government but only came into effect in Jamaica in July 2014 through an Intergovernmental Agreement (IGA) signed between the United States and Jamaican governments.

The Act targets non-compliant US taxpayers by requiring that all Foreign Financial Institutions (FFIs) located in its jurisdiction identify US accounts with balances over US$50,000 and report information about those accounts to Tax Administration Jamaica (TAJ). Cont'd on Pg. 58

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“Under the FATCA IGA the US has until September 2015 to exchange information on financial accounts with TAJ,” says TAJ Director, Communications Meris Haughton. She notes that the nature of the information required is stipulated under Article 2 of the IGA. “To be specific, it is financial information for tax purposes and not tax information being exchanged. TAJ is ready to receive this information whenever the US’s Internal Revenue Services (IRS) is ready to send it before September 2015.” The information is to be electronically transmitted by the US and applies to Jamaican Reportable Accounts. TAJ, she notes, is continually refining its IT system to transmit and receive this information prior to the deadline. One of the critical points of the IGA between Jamaica and the US is the reciprocal arrangement which means that Jamaicans who have financial interests in the US will soon see the local tax authority targeting them for non-compliance as well. TAJ notes that under the Tax Information Exchange Agreement, which presently exists between both countries, the organisation can receive tax information on Jamaican taxpayers on request. Presently, local financial institutions, which are directly affected by the Act, are busy putting the measures in place to meet the requirements as failure to do so could result in serious consequences. These include the possibility of US financial counterparts withholding up to 30% of the local institution’s source income. Registration of local financial firms was carried out between November to May 2014, and reporting to the IRS will begin in January 2015 after the identification of accounts for this year is completed in December 2014. Among the institutions in preparation mode is the Jamaica National Building Society and its affiliate institutions. According to its website, the organisation is proactively implementing changes

to its business practices as well as sensitising both staff and customers on the requirements and resultant changes. As stated by the website: “We have taken steps to identify members that are likely to be affected by FATCA and are ensuring that all our members are adequately informed about the US law and its requirements. We have also trained our customer-facing staff, so that our customer service standards are maintained at a high level.” When FATCA is fully enforced, local financial institutions will register with the IRS electronically with a view to forwarding information on reportable accounts to the Jamaican authorities who will then proceed to make annual reports to the IRS. Local accounts, once established as such, are exempt from this reporting. The reportable information includes the name, address and US Taxpayer Identification Number of the US person. In the case of a US owned foreign entity, local financial institutions will report the name and address of the entity and the Taxpayer Identification Number. It will also report the taxpayer number for each substantial US owner, their account numbers and balances at the end of the year. FFIs include, but are not limited to, deposit taking institutions such as banks; custodial institutions such as those holding mutual funds; investment entities with hedge funds or private equity funds; and certain types of insurance companies that have cash value products or annuities. The FATCA regulations further exempt some categories of FFIs from the requirement to register and report. These include most governmental entities, most non-profit organisations, certain small, local financial institutions and retirement entities. Other foreign nationals living and working in Jamaica need not worry as Jamaica has not signed any similar agreement with any other country for exchange of tax information.



FINANCE

Taxing Employees' BenefitsIs it Tax on ‘Kindness’?

W

hile I was studying in England some years ago, it was my understanding that the BBC used to have a pronunciation department, whose task was to ensure that all of the corporation’s broadcasters and journalists dealt correct with foreign names. A particular example was an African tribal leader whose name caused particular difficulty. Eventually, the employees managed to pronounce his name with confidence, only to report the next day that he had been assassinated. Many readers will recognise the parallels with our tax laws recently. As soon as one set of provisions were settled, the rules changed leaving us confused as to where we are now in the panorama. Sometimes this amounts to a simple tweaking of the old rules, such as the GCT on imported services to completely new measures. The number of changes from 1986 to 2005 and in 2009, have been superseded by the legislative changes as set out in the White Paper on tax reform and the Omnibus Legislation. In this article, what the writer wishes to focus on is the rules concerning employees’ benefits.

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By Everald Dewar

In a 2012 Provisional Order, taxable benefits were redefined and extended beyond what was previously specified. The definition now states: “anything received by the employee whether in the form of monies paid, benefit or kind”.The tax will be on “the full cost of providing the benefit or kind”. The law gives three things that will be subject to tax: monies paid to the employee, benefits given or kind. Cash paid is straight forward. Traditionally a benefit itself can be either in cash or kind but to conjoin kind with the word benefit is a little confusing. The fact that what will be taxed is ‘benefit or kind’ may lead one into thinking that tax will be due not only on benefits but on the kindness of an employer. To tax kindness would be boldly going ‘where no man has gone before’, this however is not what the law is doing and this will be explained momentarily. Not all payment received by the employee will be seen as benefits and those benefits that can be taxed must be something that the employee receives as a reward for his services. For instance: the fact that an employer makes a payment to compensate his employee for some kind of loss or to relieve stress is not a benefit and is not taxable. In addition, where the benefit is provided to the


staff as a whole e.g. a staff trip, this is a benefit but no taxable ‘benefit in kind’ can be ascertained by arbitrarily allocating the cost to each individual employee. There is a basic distinction from a gift and salary. A gift is given in appreciation of an individual’s personal qualities and is not a benefit in any sense of the word. It is normally a one-off payment e.g. a wedding gift or testimonial and is to one employee and not to a whole class of employees. Were all employees to receive $15,000 each instead of the ten pound ham they usually receive at Christmas, this would be a Christmas gift in the mind of the employer but a benefit that is a ‘ taxable’ gift. If the payment is made by a third party it can more be seen as a gift for personal qualities of the employee. However tips are usually taxable.

What are Benefits? Benefits that were already subject to income tax in the employee’s hands such as cars, rent, uniform, laundry allowances, credit cards, loans etc. Under the new regime benefits could include: lunch vouchers, tax paid by the employer to cover the employee’s liability, loans written off by the employer and the payment of the employee’s personal costs, such as household bills. The common factor is that most of these items are regarded as pseudo-cash, and is subject to income tax as if they were cash. The tax treatments are explained below. Group Health Medical Coverage: This is frequently a costeffective way for employees to obtain access to private medical coverage. Although a benefit, it will not be subject to income tax so long as certain criteria are met.

Nursery Places: There is currently no tax on nursery places supplied on the employer’s premises or where the employer is actively involved in the provision of the nursery and consequently the employee obtains a benefit. In theory this is a taxable benefit. However, where it is done for the employees as a whole no tax may apply. Cheap or Interest Free Loans: Currently where cheap loans are given to employees of financial institutions there is a taxable benefit arising on the difference in commercial and the concessionary rate. The writer does not see this being extended to loans granted to employees of non-financial institutions, neither on qualifying loans, such as a loan to buy shares in an Employee Stock Ownership Plan. Educational Assistance or Services Supplied to Employees: Again this is a taxable benefit but there may be an exemption where scholarships or services are granted that are also available to the general public. There will be no Pay As You Earn (PAYE) application where the employer reimburses a genuine business expense, which includes, travelling and subsistence . However, one should try and receive approval. This is a frequent target of PAYE audit. However the rules for allowable business expenses must satisfy the well-known test as being wholly and exclusively incurred in the performance of the duties. This grants relief for specific and distinct payments of, or a contribution toward expenses actually incurred by the employee in carrying out his duties and he should not profit from receiving the reimbursement. Rent Cheques: Given the level of abuse of the special tax benefit of 15% applicable on accommodation over the years, the law was amended to make it clear that accommodation rent provided to an employee is taxable in full. This means that the famous ‘rent cheque’ is now taxable in full. If the accommodation is necessary for the performance of the job, then only 30% of the employee’s salary will be taxed. Lunch : A lunch eaten in a staff canteen cannot be converted into money (that entereth in at the mouth goeth into the belly, and is cast out into the draught’ - Matthew 15:17). Notwithstanding because a value can be placed on providing lunch, the strict application of the amendment would make a subsidised lunch subject to tax. Historically, this would only be taxable if cash is paid to the employees. However, by concession, tax is not applicable if payment is made to a concessionaire etc. for lunch or luncheon vouchers or meals provided or allowance granted for a meal out of base. The lunch should be only given on the day the employee is on active duty and is not transferrable. Super allowance: Supper allowance is not taxable if paid for work done outside of a regular hours. The price of a three piece chicken meal from everyone’s favourite fast food restaurant can be allowed if the cash were to be paid directly to the staff. Everald Dewar is Senior Taxation Manager at BDO Chartered Accountants in Kingston.

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FINANCE

Pictures. Profiles. Personalities

President of Guardian Life Eric Hosin presents the Guardian Life GSAT 2014 Top Girl Victoria Richards with her gift basket during the GSAT Awards ceremony held at the company’s head office on Tuesday August 19, 2014.

Guardian Life’s President Eric Hosin presents the 2014 GSAT Scholarship Top Boy- Alexander Crooks with his honorary certificate during the GSAT Awards ceremony on Tuesday August 19, 2014.

The proud GSAT scholarship and grant recipients pose with Guardian Life’s President Eric Hosin (centre at back) and Guest Speaker, Miss Jamaica Festival Queen 2014 Anjell Bryan at the Guardian Life GSAT Scholarship Awards ceremony held on Tuesday August 19 at the company’s Trafalgar Road Head Office.

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BMW's Brand Manager Kim Bernard and Paramount's Hugh Graham were all smiles at the recent launch of Rubis.

(L-R) Rubis' Head of Advertising and Marketing Natalie Chin Watkins, Assistant Advertising Manager Kayann Henlon, Sales Executive Sherice McDonald and Agency Sales Executive Sharla Murray-Wright.


Samsung Representative Manuel Rendon, EB Regional Sales Manager, Caribbean captures the attention of Emelia Chen, Samsung Product Manager for consumables and Claudia Bermudez, Sales Manager at Intcomex Jamaica at the launch of Samsung’s new line of Samsung NFC-enabled laser printers.

Marsha Lumley, Market Transformation Manager of Redstripe gleamed as she sat in the Mercedes GLA 250 4Matic launch held recently.

Something quite amusing clearly caught the attention of (l-r) Professor Sir Kenneth Hall, former GovernorGeneral; Hon. Lascelles Chin, Founder and Executive Director of LASCO Affiliated Companies; Danville Walker, Managing Director, Jamaica Observer and Dr. Eileen Chin, Managing Director, LASCO Manufacturing Limited at the celebratory media luncheon.

Tshani Jaja, Marketing Manager at Jamaica Yellow Pages speaks with a guest during The Innovators, fourth season launch.

Matthew Deleon, (2nd left) Managing Director, Intcomex Jamaica has the keen attention of Latoya Taylor, (left) Sales Executive Wealth Magazine and Simone Riley, Sales and Marketing Manager, Wealth Magazine; and Neil Williams, IT Manager Xsomo International at the official launch of the first NFC-enabled colour laser printers and multi-function printers at CRU Bar.

Digicel Acquires Sportsmax. Digicel Group COO, Andy Thorburn, and Patrick Rousseau, Chairman of IMC and SportsMax (front row left and right) celebrate with Phillip Martin, Deputy Chairman of IMC and Sportsmax (standing left) and Oliver McIntosh, CEO of Sportsmax (standing right).

These charming gentlemen (l-r) Hon. Lascelles Chin, Garth Walker, Chairm an, Creative Media and Events; Gary Allen, Managing Director, RJR Communications Group; Gary Cole, Group Marketing Manager, RJR Communications Group and Peter Chin, Managing Director, LASCO Distributors Limited looked dapper at the celebratory media luncheon.

From left- Host Kamila McDonald with Brand Manager at World Brands Services Candice Minott at the launch of Soy Fresh.​

(L-R) Matthew Blake, Marketing Officer, LASCO Financial Services Limited, Richard ‘Richie B’ Burgess, Broadcaster and Janet Fagan of Buzzz Magazine gave thumbs up to the LASCO Affiliated Companies at a celebratory media luncheon hosted by the Hon. Lascelles Chin on September 16.

L-R Co-host of The Innovators Gary Matalon, Tshani Jaja, Marketing Manager at Jamaica Yellow Pages and Yaneek Page, co-host, creat or and executive producer at the launch of the programme's 4th season.

From left- Gen eral Manager at World Brands Services Tamara GarelThompson, Seni or Export Manager at Ace Canning Corporation Lee Chee Bun, and Presi dent of the Jamaica Athletic Administrative Association Dr. Warren Blake at the launch of Soy Fresh.​

Book us now for your next corporate event. Contact: tricia@cmeja.com or (876) 754-2075. For full album visit www.facebook.com/wealthmagja

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Jamaica has moved up eight places on the Global Competitiveness Index ranking 86 out of 144 countries 2014/15 up from 97 out of 144 countries in 2013/14. What implication does that have for business confidence? It has positive implications. But we need to ask how will that be transmitted to the general population? If the population is not picking up on what is happening at the macro-economic level then what will it really mean to them and especially those in the MSME sector? On the other side of it, we know that Jamaica has long been overburdened by governmental bureaucracy and corruption and much of it still exists but the fact that we registered a positive movement on the Global Competitiveness Index must mean that something good is happening somewhere and, that is better than the many negatives that we have become used to. What is needed right now and in the short term is for our policy makers to loudly shout to the bureaucracy that positive change is the mantra and at the same time engage in the more problematic mechanics of moving the civil service into the modern age. The national and international business communities have many choices globally so no one investor is prepared to wait on a Jamaica which just can't seem to get anything done.

Mark Wignall – Observer Columnist The improved rating has the potential to impact investments greatly. Investors are likely to get a sense that it’s easier and better to do business in Jamaica as there are now improvements in the systems in place to do business in comparison to the last ranking. These improvements relate to the removal of red tape, cheaper interest rates, crime control, improved technology and the availability of resources to businesses. If the country can implement changes that affect our global economic standing in a positive way then it lends to our credibility as a good place to do business and potential investors will see this as an indication that with the proper reforms , Jamaica can be a viable investment option.

Charm Campbell- Director, CEC Custom Brokers

It has positive implications. However, the effects could be minimal as business confidence is much more than our profile in the global competitive index. National confidence and less redtape helps in business confidence, easier and greater flow from agency to agency as we navigate in the market place would also help in boosting business confidence.

Christopher Bowen- CEO, Wentworth Construction and Consultants

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HEALTH & WELLNESS

Corporate Wellness

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he secret is out; high performing organisations understand that healthy employees equal a healthy bottom-line (profitability). They are keen on implementing onsite wellness programmes that will create healthy employees.

If your organisation’s healthcare cost is skyrocketing and busting your budget then perhaps it’s time to look at an onsite wellness programme. Truth is, for a long time companies have focused heavily on cost containment as it relates to healthcare for employees, but that has not worked effectively. In fact, they have not been able to contain their healthcare costs and the long list of issues with employees continues to grow. Unlike companies that are more focused on containing their healthcare costs, high performing companies are very people centric; they know that the well-being of their employees is most critical to the success of their businesses. These

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By Rese Carter

high performing organisations have identified practical solutions that can possibly help to contain not only their high healthcare costs, but also improve the employees’ wellbeing. It’s imperative for organisations to understand that for their businesses to be successful the mindset of the employees must be balanced. High performing organisations are cognisant of this fact. They have noted that the wellbeing of the people they hire has to be considered in their strategic objectives. They also recognise that effective onsite wellness programmes can yield a number of benefits if implemented correctly. Where does your organisation fall, are you busy containing costs or are you looking at how you can improve your employees overall wellbeing and improve your bottom-line at the same time? There are a number of organisations that are still stuck in the past, fighting to contain costs. Some are willing to look at programmes but only the bare minimum and often have missed the essence


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what they can truly invest because they cannot see beyond the short term bottom-line benefits. It’s often almost always missed that your wellness goals really should be tied to your organisations’ strategic goals. Too often people think by putting together an exercise program, their company has a wellness programme. Onsite wellness programmes should really focus on as many wellness dimensions as possible. In conducting wellness audits with organisations, I have often observed teams who are not cohesive, managers who are a nightmare to deal with and employees who suffer from a myriad of lifestyle health issues that burden the company. The burden is often twofold, from a health cost perspective and also from a productivity view point. It’s really quite simple, if there is a manager who leads the charge, who is unhealthy in mind, body and spirit, then logically it must affect and infect the persons who he/ she interacts with. There is an adage that says: “You are as strong as your weakest link”. That manager cannot be fully engaged, nor productive if he or she is sleep deprived, not emotionally well, stressed out or doesn’t know how to connect with his or her team. What if you were able to get that manager on a healthier track, what would be the ripple effect on your organisation? Now multiply the number of managers and employees who are not well, whether mentality, physically, spiritually, emotionally or financially, within your organisation, now ask yourself what is the impact? Who do you have showing up to work on a daily basis?

of all they can gain from an onsite wellness programme. In fact, some are only doing it to say they have a programme without a strategic wellness goal for their organisation. Companies like Google, Facebook, Microsoft and General Electric completely get it. They understand that onsite wellness programmes are essential to the growth and development of their employees and therefore they have invested heavily in such programmes. General Electric has one of the number one wellness programmes in America. They have pulled all the stops. They have all the best practices in effect. They have made their programme accessible and healthcare affordable for all their employees. Their employees benefit from maternity and paternity leave, onsite gyms at most of their locations, an online wellness site with a myriad of resources and tools to guide their wellness journey. They have a fully outfitted gym. They have also factored areas such as financial, spiritual, occupational, and emotional wellness into their programme. Focusing on the short term is never good for any organisation’s growth. The saddest thing to witness are those CEOs who clearly see the need for a programme, who truly would like to invest in one but are limited in terms of

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If at this point you are still not convinced that your organisation needs to at least consider an onsite wellness programme, here are some benefits to both employees and organisation by:

Employee benefits: • • • • • •

Prevents and manages lifestyle diseases Stress management Greater job satisfaction Improved physical and mental wellness Improved morale Improved working relationships

Company benefits: • • • • •

Lower healthcare costs Reduction in absenteeism Higher employee productivity Reduction in workers’ compensation and disability-related costs Improved employee morale and loyalty

This will have a direct impact on the amount of money your organisation spends on healthcare and will help to contain your cost over time. Having an onsite wellness programme is really not as complex as you think.



HEALTH & WELLNESS

You Are T What You Eat

he old saying "you are what you eat" is true. Our bodies are made up of cells that receive the majority of their building blocks from what we put in our bodies. It's just like building a house, if you place poor quality cement and other materials in the foundation and walls the structure may crack and crumble but if you construct with strong durable, tried and tested elements the structure will stand strong for LONG! The same applies to our bodies. So for something as important as food we cannot leave anything to chance. Be deliberate with your food choices and choose well. The busier we get the more complicated healthy meal choices can get. here are a few tips that can help:

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By Dr. Sandra Knight

1. Make a firm decision on the type of nutritional lifestyle you would like to follow and stick to it! -

Whether you choose, vegan, raw, no red meat, low carb etc, once you have chosen and are convinced based on medical advice and your own research that you are on the right path, stick to it no matter where you go.

2. Take your food with you - This removes the risk

of having to make a choice you might not want to. You might work in an area where its difficult to get health meals. But if you have your own meals packed up, that will not matter. Leftovers can be very tasty so last night's dinner can be today's delicious home-cooked lunch.


3. Always add colour to your meals - Whether it's in the form

of fruits, veggies or a natural fruit juice, colours have to be in sight. Brightly coloured foods signal the presence of potent, anti-oxidants, powerful anticancer elements and vitamins and minerals that your body use daily. If you didn't have time to make a salad, grab a whole tomato! Have that, it's just as good and is packed full of goodness!

4. If you wish to lose weight and are being very unsuccessful at it.... Get help -There might be many

things that are physiologically wrong with your body that is impeding your weight loss. These include, thyroid, pituitary, pancreas and liver defects that might be insidiously undermining your health. Just as over eating is harmful so is under eating. Food fuels your metabolism, if you are starving to lose weight, it will never work..at least in the long term.

5. Don't be too extreme with the things that you are told you should NOT eat - No, ice cream is not a

dinner item but treat yourself now and then. Being healthy should not be a burden, accept the fact that a slice of cheese cake, once or twice per year will not derail your health. I know this sounds contradictory but that treat may be the mood fixer you need. Eat it and enjoy!

6. Stop eating when you are full -Yep! Put that fork down when your body tells you to. There might be a little food left in the plate, but there is no rule that says the plate must be left clean. By the way, what you left in the plate was also extra calories. With all the talk of food don't forget to get moving too! Exercise and great nutritional habits will go a long way towards getting you a long way! Have a happy healthy day!

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HEALTH & WELLNESS

E

Express Fitness “The fitness Club that you can afford.”

xpress Fitness is Jamaica’s newest and most innovative Fitness Club that focuses on the holistic wellbeing of its clients. The club is locally owned with eight branches scattered all across Jamaica, giving members the opportunity to workout even if they are in a different location. With innovative marketing and public relations strategies, Express Fitness is poised to be Jamaica’s number one membership fitness club. Being a member of Express Fitness also affords you a number of benefits: • The gym is open 24 hours a day, making it easier for you to incorporate gym time into a very busy schedule. • Members are given free classes, a free one-on-one session with certified trainers, free WiFi, as well as a free orientation on how to use all gym equipment. •A written workout plan that includes aerobics, circuit training spin bikes and booth camps. Express Fitness is also committed to making exercise time fun and enjoyable and therefore they are constantly ensuring that members are given new and creative workout ideas to make the Express experience one that is like no other. With all these listed benefits, the Express Fitness package has been designed to fit into

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the budget of all Jamaicans, ensuring that there is no excuse for persons not to make exercise a part of their lifestyle. To ensure commitment to the fitness goals the gym provides a centralised direct debiting system to all members wanting to eliminate the hassle of making over the counter or cash payments. The direct debit arrangement is made in club without the member having to go to a bank. All clubs are cash-free to ensure the safety of members. The Express Fitness Club was opened in Bogue, Montego Bay in February 2012, one of the first branches of the Club to be launched. Catering to the needs of busy Montegonians, the club is centrally located at the Fairview Office Park in Montego Bay. Equipped with the best gym equipment in the world Express Fitness staff members are not only focused on ensuring that clients are satisfied with their workouts but also committed to members involved in other physical activities. This has led to the conceptualisation of Express Fitness events such as the Express Fitness Supreme Hike that took place on May 24, 2014 from Kingston to Hollywell. Express Fitness’ focus is making Jamaican healthier at an affordable cost with more innovative and creative ideas. One such idea is the forging of Corporate Partnerships. Express Fitness has partnered with some of the biggest companies in Jamaica providing their staff with unlimited access to fitness across the island. Corporate partners such as Jamaica National, Sagicor, Digicel Ja Ltd., Margaritaville, Vistaprint, Mailpac, KCT Services, all benefit from the convenience and affordability Express Fitness provides. Express Fitness invites one and all to join the fitness revolution.

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Wealth MAGAZINE

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ESTERN SPORTS, one of Jamaica’s leading Sporting Goods stores, launched their 40th anniversary celebrations under the theme, “Sports and More Since 1974” at Wealth Magazine’s Corporate Mingle at the Spanish Court Hotel in Kingston on September 5, 2014. The event was hosted by accomplished football coach and broadcaster Neville ‘Bertis’ Bell. President of the Kingston and St. Andrew Football Association Ambassador A.B. Stewart Stephenson gave the keynote address. CEO of Western Sports, Carl Chang, says his stores remain committed to providing top brands of apparel, sporting goods and lifestyle gear: “Our commitment to provide the sports community with quality products and service along with the tremendous support from customers, have led us to reach the milestone of 40 years. As we recognize this achievement we invite all Jamaica to celebrate with us.” Western Sports operates four branches across the island. The company is privately owned by Carl and Susan Chang. Western Sports first opened its doors in Montego Bay in 1974 despite uncertain economic conditions. The Company imports sporting goods for retail and wholesale.

Owners of Western Sports Susan and Carl Chang listening attentively to the main address.

The company also unveiled their collector’s edition 40th Anniversary Magazine, and announced a number of upcoming events in celebration of their 40 years in operation for the year. [L-R] Diandra Davis, Margaux-Ann Brown, Andrzej Gardener, Carl Chang Members of the Western Sports team takes a break from their mingling for a quick photo.

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Western Sports CEO Carl Chang posing with Justice Ingrid Mangatal and businessman Dr. David McBean.

Wayne Shaw, General Secretary KSAFA chats with Ambassador A.B. Stewart Stevenson, President of KSAFA.

Founder and Managing Director of Western Sports Carl Chang with Broadcaster Western Sports CEO Carl Chang (centre) posing with Corporate Mingle Neville Bell attendees (L) Raymond and Julia Moodie (R)Tommy Cowan and Carlene Davis.

Managing Director, Carl Chang and Western Sports Communication Consultant (L-R) Lesley Fraser, Margaux-Ann Brown, Stephanie Chen See - are all smiles. Allison Watson

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LIFESTYLE

M

odel Karrueche Tran visited the Adam & Eve Day Spa on Friday August 22 to get her nails done and for a little pampering. After indulging in Adam & Eve’s Signature Massage – a combination of a Swedish massage, deep aroma therapy and hot stones - the model and girlfriend of international artiste Chris Brown, was treated to a mani and pedi from members of the Adam & Eve team. After awakening from her slumber, which she fell into during the almost hour long massage, the petite Tran donned a robe, got comfy in Adam & Eve’s high chair, and relaxed her tiny feet (about size 4 ½). Her acrylic-covered finger nails were buffed and polished in her signature white nail polish. She said she usually covers her nail in white because it’s safe. While Tran is probably not considered a ‘safe’ person, the white does reflect the cool and calm of her personality. While explaining that she has used brighter colours before, white is her preferred choice especially in the hot summer months. “For fall and winter I’d usually use a darker colour like burgundy and I’ll also use a light pink because it’s neutral” she noted. Surprisingly, gray is her favourite colour. To ease the tension in her feet and to add to Adam & Eve’s true relaxation experience, Tran’s feet were awakened using a Coffee Scrub and her toe nails also painted in white.

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LIFESTYLE

A Model to Emulate: The Mayo Clinic

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step into the elevator and in my most eloquent manner blurt out: "You are who I know you are!" My husband jumps in to save me: "We watch you all the time." And when I add: "Isn't the Mayo Clinic a wonderful place?" Tom Brokaw, anchor of NBC Nightly News from 1982-2004 and author of the acclaimed book The Greatest Generation, graciously replies: "I'm on the Board of the Mayo Clinic�. Brokaw has been a board member since 2008 and is still an NBC News Special Correspondent even though he was diagnosed with cancer in 2013 at the Mayo Clinic. When my husband and I first visited the clinic in April 1995, we found out that my doctor was the same one who treated Queen Noor, whose husband King Hussein of Jordan was treated for cancer at Mayo in 1998. You'll find some beautiful artwork donated by the King and Queen on display in one of the contiguous buildings which make up this most amazingly efficient medical complex. William Worrall Mayo left Salford, England for New York City in 1846 and after moving to Indiana in 1847 became a U.S. citizen and graduated with a medical degree from Indiana Medical College in 1850, followed by a second medical degree in St. Louis, Missouri where he married Louise

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By Laura Tanna

Abrigail Wright with whom he had six children, the first dying in childbirth. It was the last two boys, William and Charles, who took to medicine, both becoming doctors and helping their father create the internationally known Mayo Clinic in Rochester, Minnesota. Dr. W. W. Mayo had contracted malaria while practicing medicine in Laporte, Indiana and relocated to St. Paul and then Le Sueur, Minnesota seeking a better climate before President Abraham Lincoln appointed him the examining surgeon for Union forces in southern Minnesota in 1863. At that point Mrs. Mayo refused to move house again (in case you're wondering why such a world-renowned centre is located in such an obscure place, 45 minutes by airplane northwest of Chicago). Half of all foreign-born inhabitants of Minnesota in the 1880s were Scandinavians, people with traditions of literacy, thrift, and cooperating with their neighbours, factors which most probably helped the Mayo brothers and their father develop the culture of kindness, courtesy and efficiency which makes the clinic such a patient-friendly place. Everywhere you'll be met with what is known as "Minnesota nice�. August 21,1883 was a crucial date in defining the clinic's development. A tornado wiped out a third of the town, leaving 24 dead, and Dr. W. W.


Mayo asking Mother Alfred Moes and her Sisters of Saint Francis to assist in nursing the injured. Saint Mary's Hospital, constructed by the Franciscan order with the Drs. Mayo responsible for its staffing, saw Dr. Charles Mayo performing what is believed to be the first surgical operation there in 1889, assisted by his father and brother. My certified tour ambassador told me that St. Mary's is not only a great nursing school, but is the largest private hospital in the USA covering 36 miles, with 1,265 beds and 55 operating rooms, one of the few places several blocks from the other Mayo Clinic buildings. Up until 1895 all operations at St. Mary's were done by brothers Charles and William Mayo, although in 1892 they took on the first of many partners in what would become their not-for-profit medical centre. Over 1,000 medical specialists now work with the Mayo Clinic and despite its international reputation it strives to be reasonably priced.

The Plummer Building - A US National Historic Landmark

Innovation has been a hallmark of the centre, using X-rays in 1897, starting a medical library in 1907, and most importantly Dr. Henry Plummer developing a retrievable medical record system which led to every facet of a patient's records being consolidated into one file - something which with today's computerisation means that diagnosis and treatment can be expedited within the Mayo medical complex. Once an appointment is designated, rarely will one have to wait to see the doctor. In fact, if you take a book to read and go early, more often than not you'll get taken in even before your appointment time. Their efficiency is amazing and a model to be emulated. Their Mayo Medical School which opened in 1972 continues with the innovations. The original Mayo Clinic building, largely designed by Dr. Plummer and finished in 1914, no longer exists but another bearing his name and marvelous decorations of gargoyles, griffins, dragons

Subway with artwork at the Mayo Clinic

Photos rovided by Laura Tanna

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The Chocolate Oasis

and owls opened in 1928 and is a national historic landmark. In 1938 Dr. and Mrs. William Mayo gave their personal home, now known as Mayo Foundation House, to the Mayo Foundation. Each of the medical centre's buildings are named: Charlton, Charlton North, Eisenberg, Gonda, Mayo, Hilton, Guggenheim, Siebens, Plummer and so on. Patients find pleasure in their uplifting surroundings with spacious waiting rooms, helpful guides at crucial intersections, and beautiful displays of artwork from around the world. Hot and muggy in the summer, freezing cold in the winter and prone to thunderstorms and occasional tornados, the Mayo Clinic overcame Rochester's climate by building skyways over streets, and subway walkways under buildings so that one can stay in a hotel, visit doctors or laboratories in various buildings, eat at fast-food franchises or dine in restaurants, and shop at a variety of stores, all without having to go outside in most cases. Just as one enterprising man 150 years ago started an organisation which has continued through five generations of Mayo doctors into the present with Dr. Charles Horace Mayo II, Dr. Charles William Mayo II and Dr. Charles Horace Mayo III, one of my favourite places in the clinic's subway system is another family's tradition, The Chocolate Oasis which has the most fabulous chocolate treats. Albert Abdallah,

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a Lebanese immigrant with an American wife, opened a candy and ice cream shop 105 years ago in Minneapolis, Minnesota. Relocated to Burnsville, the fourth generation of the family now makes over 225 kinds of candies and employ over 100 workers. Their annual sale of candy, much of it wholesale, is worth some US$15 million. They went through bankruptcy during the Depression in 1935, survived a terrible fire and explosion in 1964 and after 9/11 were threatened with cancellations on the East Coast because of their ancestor's Arab name, but Steven Hegedus Jr and his parents decided to stick with Abdullah Candies and lost only two customers. Their little outlet at the Mayo Clinic brings great joy to thousands of patients who pass by there every year, demonstrating how entrepreneurship can thrive in the most unlikely places. Of course the Jamaican connection with the Mayo Clinic is our very own Dr. Franklyn Prendergast, a Jamaican-born graduate of the University of the West Indies, Oxford University and the University of Minnesota, who became a full professor at the Mayo Medical School in 1986 and has served on the Mayo Clinic's Board of Governors and the Mayo Clinic's Board of Trustees as well as the Foundation Executive Committee. In 2004 the Institute of Jamaica honoured him with its prestigious Musgrave Gold Medal.



LIFESTYLE

Style Me Chic

By Toni Ho-Young

Women's Edition

SMALL EDITS- Make small tweaks to your outfit to seamlessly take you from the office to an after work event. Look1: Features two day to night looks. Make the easy transition from the office to a happy hour event, by ditching the bottomless everyday bag for a more vibrant clutch that complements your outfit. Ditch the blazer that provides more structure for the workplace that is not needed for happy hour.

Day to Night Work Flow

Look2: A classic white & black jumpsuit, that is not only modern chic attire for the work environment but also for an after work date night. Lose the blazer to take things from conservative chic to classy and elegant for a sexier look.

Day to evening Work Flow

GOOD TO GO- Outfits that are flexible enough to go from the workplace to after work events without making changes. Both take you from the work place to an after work event without having to change a thing! Both looks are designed to have the flexibility to go from one place to the next. Look1: Features a high-waist palazzo pant with a printed sleeveless shirt and burgundy lip color to brighten up the overall outfit.

Polished..!!

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Look2: Features a boat neck, short sleeved peplum top with a pencil skirt. This look is classic and will easily transition from the workplace to a business dinner, date night or upscale lounge for drinks.

Work Chic


Men's Edition SMALL EDITS- Make small tweaks to your outfit to seamlessly take you from the office to an after work event. Transition from the workplace to an after work event by removing the bow tie and loosening things up a bit. Whether you choose to remove the jacket entirely depends on the type of event you are attending and your individual style. If you are going for drinks with a client, say yes to the jacket; but if you are hanging with colleagues it’s totally fine to lose it. Switch into a pair of more comfortable loafers to dance the night away. Day-Blue Velvet

Night-Blue Velvet

GOOD TO GO- Outfits that are flexible enough to go from the workplace to after work events without making changes. Look 1: Evening business casual can easily be transitioned from the boardroom to an event at the local hot spot. Unbutton the top button of the shirt and jacket for a relaxed feel. Look 2: This Biz casual chic look goes effortlessly from a meeting at the headquarters to the bar of a swanky hotel for drinks. Unbutton the jacket and remove the shades and you have successfully gone from day time office chic to night time debonair.

Evening Business Casual

Biz Casual Chic

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CAREER

Are Jamaican

Entrepreneurs Happy?

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recent report found that entrepreneurs are among the happiest people in the world. The report stated, however, that Jamaican entrepreneurs are generally not happy. That report was the Global Entrepreneurship Monitor (GEM) 2013 Global Report in which seventy countries participated and 197,000 individuals were surveyed. Adult Population Surveys of at least 2,000 randomly selected persons, between 18-64 years, were done in each country. The researchers compiled composite numerical indicators of well-being for particular variables. The indicators range between -1.7 (least subjective well-being) and +1.7 (highest subjective well-being). Two significant variables were: (i) the total early-stage entrepreneurial activity defined as the percentage of the 18–64 age group who own and manage businesses which are under 3½ years old; and (ii) the established business ownership rate described as the percentage of the 18–64 age group who own and manage businesses which are older than 3½ years. Unfortunately, the renowned island usually referred to as, ‘Jamaica, No Problem’ recorded the lowest level of subjective well-being (-0.53) in Latin America and the Caribbean. Only Greece (-0.50) and Russia (-0.81), and four countries in Sub-

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By Dr. Girjanauth Boodraj Saharan Africa – Botswana (-1.06), Ghana (-0.55), Malawi (-0.70), and Zambia (-1.26) – logged lower rates than Jamaica. Apart from Russia and a few African countries, the well-being for early-stage Jamaican entrepreneurs (-0.42) and Jamaican established business owners (-0.44) were the lowest among the 70 countries surveyed. Additionally, Jamaica’s ratings were the lowest in Latin America and the Caribbean for the following variables: opportunity early-stage entrepreneurship rate (-0.44); necessity early-stage entrepreneurship (-0.37); male totalearly stage entrepreneurial activity (-0.23); and female totalearly stage entrepreneurial activity (-0.63). Among the 70 countries, only female businesspeople in Russia, Botswana, Malawi, and Zambia indicated lower rates of subjective well-being than Jamaican women entrepreneurs. Female entrepreneurs in the most developed economies reported high levels of subjective well-being (0.25) while those in the poorest group of countries recorded a negative rate (-0.38). Although economic development has traditionally been measured by indicators such as per capita Gross Domestic Product, the term subjective well-being or happiness has been increasingly used to gauge economic development in recent times.


Subjective well-being deals with the quality of people’s lives. It is an amalgamation of satisfaction with life, balance between work and life, and job-satisfaction. It is measured in the GEM report using the Satisfaction with Life Scale (SWLS) which is a five-item instrument. The SWLS was initially published in the Journal of Personality Assessment in 1985. It was developed by Ed Diener, Robert Emmons, Randy Larsen and Sharon Griffin. To construct the SWLS, responses were elicited from the following five statements: (i) In most ways, my life is close to my ideal; (ii) The conditions of my life are excellent; (iii) I am satisfied with my life; (iv) So far I have obtained the important things I want in life; and, (v) If I could live my life again, I would not change anything. The responses were recorded using a fivepoint scale from 1 - Strongly Agree to 5 - Strongly Disagree. In all 70 countries, entrepreneurs revealed higher rates of wellbeing compared to other individuals. Moreover, entrepreneurs in established businesses demonstrated higher rates of wellbeing than those in early-stage entrepreneurial activities. This is not surprising on account of the generally great pressures, uncertainties, and diverse challenges that young businesses have to endure to stay afloat and sustain themselves in the early months (or years) of their operations. Necessity-based as well as opportunity-driven entrepreneurs were also studied. A necessity-driven entrepreneur is one who engages in entrepreneurship because no other work options exist. Alternatively, an opportunity-based entrepreneur is

motivated by opportunity, as opposed to not finding a job, and engages entrepreneurially in order to become independent or to enhance income. The report revealed that opportunity-based entrepreneurs were happier than necessity-driven entrepreneurs. In the poorest group of countries, necessity-driven entrepreneurs recorded the lowest levels of well-being. Moreover, the poorest countries in the world such as those in Sub-Saharan Africa have the lowest rates of well-being, supporting the results of the 2012 and 2013 World Happiness Index. The first World Happiness Report published in April 2012 had specified that “Most people agree that societies should foster the happiness of their citizens…Yet most people probably believe that happiness is something to be pursued individually rather than as a matter of national policy….That indeed has been the traditional view. Yet, the evidence is changing this view rapidly.” The report added: “Asking people whether they are happy or satisfied with their lives offers important information about the society. It can signal underlying crises or hidden strengths. It can suggest the need for change.” Therefore, the report is recommended reading for policy makers, public sector workers, academics, students, and businesspeople. It may be accessed at www. gemconsortium. org. Additionally, GEM Jamaica Reports are freely available at www.gemcaribbean.org.



CAREER

The Ambitions of

EduFocal's CEO Gordon Swaby By Mikaelea Witter

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“I am happy, but never satisfied.” lbeit a line he took from founder of the World Economic Forum, Klaus Schwab, 23-year-old CEO of Edufocal, Gordon Swaby says that statement sums up his life.

“I think that’s how everyone should feel about everything they do in their life”, says Gordon. “You should be happy, but you should never be satisfied with where you are and what you have accomplished, you should always want more”. This young entrepreneur started his first business at the ripe age of 14 out of a need to have something that he could not afford; he developed Advance Gamers, one of the largest video gaming websites in the Caribbean. He then moved on and founded Iconic Touch, a website, design and development company. Both Advance Gamers and Iconic Touch are no longer in operation. Since then the Christiana, Manchester native has accumulated numerous awards, including the Governor General’s Awards; the Commonwealth Youth Award

and he is a Private Sector Organisation of Jamaica 50 under 50 awardee. He has also been selected by the InterAmerican Development Bank as one of ten innovators in Latin America and the Caribbean and he has just returned from Switzerland where he represented the Kingston Hub of the World Economic Forum Global Shapers for which he is the Curator. “I have been around”, he joked. Indeed he has, and with only a high school certificate if we are about talking educational attainment. Last September, this young man decided to take a year long break from his education at the University of Technology where he was reading for a Bachelors of Science Degree in Computer Engineering to focus more on his latest business venture – Edufocal. The company caters to students preparing for the Grade Six Achievement Test, GSAT and the Caribbean Secondary Education Certificate, CSEC. The company is described on its website as an “innovative social learning platform that combines study with play”.

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“When I started Edufocal it was very challenging for me to be doing school and running the company at the same…at the end of the day one has to suffer.”

award where the top GSAT and CSEC student will receive a $30,000 cash bursary or scholarship.

Exuding confidence, Mr. Swaby says with his impressive resume and numerous job offers to boot, a degree would be one of those small things on his resume. He stressed that it is not about educational accomplishment but expanding what one can do.

He is proud of where the company has reached, but he wants more. “My main business goal for Edufocal is to have us list on the Junior Stock Exchange in two years and nine months”. The Edufocal CEO says the company also plans to branch out into video content in partnership with First Global Bank.

When you ask him, he will tell you that entrepreneurship is in his blood, as both his parents are entrepreneurs.

Gordon says his goal is to change the way education is taught in Jamaica, as he’s not happy with where it’s at.

Not missing a beat, he has gotten involved in project after project that has impacted his life and the lives of people in Jamaica, the region and the world. Gordon states that all of his focus and energy is on running Edufocal.“There is nothing else that I am focused on, I mean apart from my personal life”

He states that he has always been an advocate of unconventional education, where education is more personalised and students have a better chance of grasping a subject area.

He explains that Edufocal was developed out of collaboration with a cousin.

“I sat down with some of the staff the other day and asked them now ‘What do you want to do? Do you want to replace the classroom or do you want to make it better?’The consensus was that we want to make it better.”

After his cousin pulled out because of school, Gordon continued and the company was launched two years ago. Staying true to his love of video games, the company borrowed elements of gaming to create a fun atmosphere for answering questions on specific subject areas.

“I am ambitious and if we can change education worldwide that would be great, but I would be happy with changing it at the regional level”. And, he’s on track to make that change at the regional level as the company will be expanding to Trinidad and Tobago.

Students have the chance of winning cash prizes and other incentives based on their accumulated points at each level. Gordon says the company has also started an annual Edufocal

After Edufocal, Gordon says he might just take up one of those consultant offers, but until then, the young entrepreneur says he has a lot to achieve and with not enough time.

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CAREER

Bouncing back from a bad

Romance Office

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ntering into any romantic relationship is like signing the dotted line for a huge investment with a high risk portfolio; the truth is you are never 100% sure of the return on your investments. However, you go in with confidence, hoping for the best and trusting that your ‘interest’ will be protected.

Romantic relationships are generally risky business no matter where, when or how they happen; but imagine juggling the stress of an office environment (meeting tight deadlines, working multiple projects and dealing with difficult co-workers and superiors) and managing a full time relationship with someone you work with! When you get emotionally involved, you have voluntarily

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By Anne Michelle

signed a contract for one of relationships’ most frequent experiences - the break-up. The truth is, at some point in your lives, many of you will experience a bad break-up– a failed investment. No one in a romantic relationship ever wants to hear it’s OVER. Bad break-ups can cause normally rational thinking beings to behave petty, immature and unprofessional towards their one-time ‘bed partners’ by reacting off impulse and emotions instead of intellect and common sense. Dealing with a break-up is challenging especially when operating in a professional space. But you should never let the situation cloud your judgement and allow it to affect your professionalism and productivity in the workplace.


Most people want to avoid their exes at all costs after a breakup, but if you work together, more than likely your paths will cross. To avoid any unwarranted conflict, which could negatively affect both you and your parted lover in the workplace, here are some positive approaches you can take: • Keep your relationship outside the office from the beginning: Successfully navigating a romantic relationship with a co-worker is tricky at best, and often very difficult. However it is important to have frank conversations when you first get involved with each other about keeping your relationship private and maintaining professional relationship at the office. If you set this precedence early on it will be less challenging to cope when the relationship is over, as you would have already established ground rules about work versus private life matters. • Keep your break-up details off social networking sites No bad mouthing your ex on Facebook, Twitter or Instagram; this behaviour doesn’t make your ex look bad, but reflects poorly on you and how well you manage your personal affairs; not to mention that your co-workers can see these posts and your messy break-up will become the office’s latest gossip. • Maintain your work ethics and professionalism: Mutual respect between you and your ex is crucial to minimising any heated arguments that may arise in the workplace after a break-up. It is also imperative that you do not let any ill

emotions derived from your break-up cause you to be rude or disrespectful to your colleagues. The respect of your colleagues must be maintained; your reputation will stick with you forever, while your break-up will eventually become a passing memory. • Avoid talking about details of your break-up at work: It is usually tempting to want to vent, especially if you have a close friend at work. However, it is best practice to keep the details of the split private. If you feel the need to vent, document your feelings in a journal. The last thing you want is for the entire office to know every detail of your faded office romance. • Focus on your career and get active: Put all your energy into excelling at your job and mastering your functions. Think about getting that promotion or raise. Sign up for that class you’ve been putting on hold. Upgrade your skills and make yourself more marketable. Get out and get involved and active – enrol at a gym, a dance class, yoga, swimming - just do something. Volunteering is also a great way to get involved and help others. All these are great options to distract your from being consumed with thoughts of you ex and the break-up. No matter what…giving up on love should never be an option, every ending is an opportunity for a beautiful new beginning. Live. Laugh. Love until next time!

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REVIEW

Book Review

Title: Overcoming Time Poverty: How to Achieve More by Working Less Author: Bill Quain Publisher: Author House (2014) ISBN: 9788188452668 (2010); (paperback) Available as e-book 120 pp.

“Time Equity is the total of all the time you own. We all own time, from the moment we are born. It doesn’t matter if you are born wealthy or poor. You own your time.” I had a major problem with Bill Quain’s Overcoming Time Poverty: How to Achieve More by Working Less – I felt guilty as hell by the first page. That’s what you call effective writing! I didn’t have to wade my way through unfamiliar waters haunted by complex terminologies and concepts that leave you more clueless than before you decide to buy a book and help yourself. We have all heard our friends, colleagues and even spouses complain about the little time they have to complete tasks. Just in case you’re in denial, there’s a checklist on the very first page of the introduction. In spite of the hundreds of time management apps the age of technology has brought us, it always seems that there just aren’t enough hours in the day for some of us to complete that assignment, drop the kids to school, spend quality time with important people or just take a break for our own mental and spiritual health. Central to Quain’s theory is the redefinition of time as we know it. One of the most effective bits of imagery was the portrayal of a ‘lifetime’ as a bottomless hourglass – once the sand starts pouring, it never comes back. Lesson: time is finite. The decisions you make have to then be reviewed in this way. Admittedly, the theoretical style may be a deterrent for some who read to get straight up ‘how tos’ but I find this style effective for this work as it forces you to review your past, current and future choices and how they influence your overall life goals. This is an easy read at 120 pages (can be read on a flight or in between meetings) and gives you a practical viewpoint from which to review your use of precious time, become more disciplined, and increase your productivity in a real way, ultimately becoming your best self. Go ahead and take that Sunday off, stop with the everyday overtime and tune into real wealth!

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By Latoya West-Blackwood






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