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BUSINESS LOUN G E

Coming of Age:

Jamaica joins the world with the JSE Junior Market

here was an article regarding the roles of junior commodity companies in that industry. The writer expressed that he often likened them to rabbits. Rabbits, he said, were seemingly insignificant animals but in reality they performed an indispensable function in the ecosystem by providing nutrients for higher animals. Thus the role of smaller companies is to explore, discover and develop new talents, ideas and ultimately feed large companies and contribute to the overall economy. Lower animals forage for sustenance and as such young companies also need sustenance in the form of capital and foraging for this sustenance is increasingly difficult. It is a well known fact that micro, small, medium enterprises (MSMEs) in Jamaica have a hard time increasing the size of their operations because of the limited access to investment because of the relative shortage of venture capital in the region. The problem is also exacerbated by the unwillingness of banks to lend funds to small businesses, a fact that was addressed recently by the establishment of ScotiaJamaica’s MSME initiative.

For the junior stock exchange to succeed in Jamaica, it will need the backing of the government and other regulators and also a willingness of companies to be listed and also the cooperation of members of the financial community to express confidence in the platform. The hope is that this exchange will gain the confidence of the investment community in Jamaica thus making it a viable exercise for companies to undertake in the evolution of their business model.

As such the Jamaica stock exchange has proposed the development of a Jamaica Junior Stock exchange which it expects will “encourage domestic investment in entrepreneurship, employment and economic development”. A junior stock exchange offers small businesses to go public allowing their shares to be bought by interested investors and such, raise capital that will effect growth in the operations of these businesses. The junior stock exchange idea has been implemented in several countries around the world to some degree of success. The Alternative Investment Market was implemented by the London Stock Exchange in 1995 and to date has raised almost 24 billion pounds for more than 2,200 companies. The success has come with some controversy with a US regulator Roel Campos referring to AIM as a “casino-like” market leading to a heated back and forth between the executive of AIM and the regulators. In Canada the TSX Venture exchange was created in 1999 and has since listed 2,176 companies with a combine market capitalization of $58 billion. Thailand has also implemented a junior stock exchange and would be a good example for Jamaica to follow being that they are also third world companies.

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money smar t

10 Smart Ways to: Earn Passive Income

Question:

I would like to earn extra money from a part-time business, but I already work long hours at my job. Any ideas how I can increase my income without spending a lot of time doing it?

Answer:

There are only 24 hours in one day, so your earned income is restricted by the constraints of time. Passive income is money that you earn without physically working to get it. However, you will have to work hard initially to create this income stream which will pay you in the future. Here are some smart ways to earn passively:

1. Create residual income: This is money that is paid to you repeatedly over time, for work that you did just once. You have to put in a lot of effort to design and market your product or service at first. Some options are: 2. Earn royalties from creative work: If you have a talent in writing, music or photography, you can produce books, songs or photos for sale. If your work continues to sell in the future, you could earn repeatedly without additional work.

recommendations. You may need to set a website or blog to do this. 8. Build a network marketing business: This allows you to build a network of persons who buy and sell products directly from the manufacturer. You can earn commissions or bonuses from the efforts of your team. 9. Subcontract a service: Some jobs can allow you to increase your earnings by hiring others to do the work for you. Some possibilities are tutoring services, architectural work, or landscaping. ……………………………………………………… Financially S.M.A.R.T. Services is Jamaica’s number one source for practical, down-to-earth and independent answers for all questions relating to personal finance. Get more money smart advice at www.financiallysmartonline.com. Email advice@financiallysmartonline.com with comments or questions. .

3. Sell advertising on your website: If you create

a website that receives lots of visitors, you can sell advertising. Programmes such as Google Adsense allow you to earn if persons visit your website and click on the advertising links, or buy products from the advertisers.

4. Provide a coin-operated service: If you can invest in equipment such as candy machines or personal care product dispensers, you can create a steady income generating business. 5. Develop an automated product: If you make products

such as E-Books, training CDs or DVDs, or software programmes, they can be sold through an automated process online that will need very little customer service or support.

6. Leverage the work of others: Leveraged income

comes to you based on the work efforts of others. The idea is that you can use someone else’s labour to provide an income source for yourself. Some possibilities are:

7. Join an affiliate programme: Affiliate marketing is

when you promote products for companies, by encouraging others to buy them. You get paid a percentage of the sales made from your

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Mind You r Business

Constructive Criticism and your Graphic Designer Provided by: Gail’s Graphic Designs

riticism and critiquing are fine art forms, when properly executed. They can be some of the most beneficial elements used when your graphic designer is creating your logo. Criticism and critique used in the wrong way can also be your project’s greatest detriment.

The most important thing to remember is that criticism in itself is a relative term; something you find unappealing may be another person’s masterpiece. A key point one should always keep in mind when relaying your thoughts, whether good or bad, must always stay positive. Think to yourself, “If I had spent 2 days working on a design would I want someone to flat out say that it was horrible? Probably not. However, you probably wondering, “How do I give constructive criticism without rewarding uninspired work or giving unstructured, critiques that my designer doesn’t take seriously? The answer is a perfectly administered critique structure. A good critique structure is essential to getting product20you have envisioned: Always start out on a positive note: This is key. Remember there is no such thing as “bad art” it’s all subjective and opinion based. Use phrases such as “That’s a good start”, “I see what you tried to do here”, “This is good work”.

Always end your conversations with a positive note: “This draft was good, Keep up the great work”, and “Thank you for your efforts” these will bring confidence to your designer, and with confidence comes better work. Rapport: A businesslike yet casual relationship will do wonders for a project. Keep the human element involved, and the results will follow. Stick to these basic principles and you and your designer will reap the benefits of awesome graphic design. __________________________________________ Based in New York, Gail’s Graphic Designs offers a broad spectrum of creative design and communication solutions to assist in the marketing of your service or product. Contact Gail Lewis at glewis@gailsdtp.com or visit Gail’s Graphic Designs at www.gailsdtp.com. Contributing writer Joe Witte

Presenting negative points: Chances are you aren’t the first person to give an artist a negative comment. This is the point of constructive critiquing; one’s art cannot improve without assessment. Negative is “negative” there is no way around it, however, do it in a positive way. Avoid words like “ugly,” “horrible,” “bad,” “worst”. Be honest and direct: If you don’t like something say so, but being polite and professional is never a bad thing. Make it a team effort: Use phrases like “We need to take a look…” “What we should do is…” Making your designer feel like he is working with you rather than trying to satisfy you will bring a better relationship and in turn a better product. Give at least one positive point: Even if you don’t like your designer’s attempt try to find a good aspect. Build the artist up. It never hurts to complement someone on their efforts. Bring out and reinforce the artist’s strong areas.

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