Small BusinessASSOCIATION

You Are ReadingVol. 02 Issue. 8August, 2014

Edition

Building Networks; Creating Wealth

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pg2SMALL BUSINESS WEEK 2014 LAUNCHEDThe primary objective of the Small Business Association’s (SBA) annual week of activi-ties is to celebrate and highlight the contri-butions and accomplishments of small business owners within Barbados. This view was expressed by Mr. Dalton Medford, President at the SBA, at the recent launch of Small Business Week 2014. Mr. Medford stressed that the SME sector in Barbados was one that required more attention due to its positive impact on local development. He referenced a study conducted in 2009 by the CARICOM secretariat, which showed that in the region, micro and small enterprises accounted for 45% of employment. This figure increased to 70% when medium sized firms were taken into account.

During the launched, title sponsor First Citizens Bank, affirmed their commitment to the sector, evidenced through their continued partnership with the SBA. Mr. Kareem McClean, Marketing Officer of the bank confirmed that the bank believed in the important and sizable contribution of small businesses to revenue generation, the creation of employment & opportunities for social mobilisation, and the influence of economic prosperity within the nation.

At a time of prolonged economic downturn and the clarion call for greater focus on growth strategies to resuscitate the Barbados economy, there was a need to raise the national dialogue on the role of small businesses to the island’s growth and recov-ery agenda. The theme for this 11th annual week of activities is, “Small Business as an Elixir for Economy Recovery”, which

President of the SBA Mr. Dalton Medford (left), CEO of the SBA Ms. Lynette Holder & Kareem McLCeam Marketing Officer fo First Citizens Bank (right)

FEATURE ACTIVITYREACH THE SBA FEATURE ACTIVITY

HEAD OFFICE1 Pelican Industrial Park,Bridgetown, BarbadosPhone: (246) 228-0162Fax: (246) 228-0613Email: theoffice@sba.bbWebsite: www.sba.bb www.SmallBusinessApproved.bb

SPECIAL

EDITION

“Small Business as an Elixir for Economic Recovery”

SMALL BUSINESS WEEK 2014

CHAMPION

CRYSTAL

CORPORATE

SPONSORED BY:

Small BusinessASSOCIATION

in collaboration

with

SUNDAY Church ServiceSeptember 21, 10:00 a.m. Sanctuary Empowerment Centre

MONDAY

VI Annual Leo Leacock Memorial LectureSeptember 22, 7:00 p.m.Errol Barrow Centre for Creative Imagination

WEDNESDAY

Youth ForumSeptember 24, 10:00 a.m.Savannah Beach Hotel

THURSDAY

Promotional Bus TourSeptember 25, 9:00 a.m.Various sites island wide

FRIDAY

20/20 Cricket MatchSeptember 26, 7:00 p.m.Lumber Company Playing Field

SATURDAY

Awards Ceremony & DinnerSeptember 27, 7:00 p.m.Hilton Barbados Resort

PRESENTS

September 21 - 27 2014

underscored the need to treat to the value of SMEs within the context of sustainable development.

The week of activities will feature six events that are educational and entertaining. The signature event, the Awards Ceremony & Dinner, will showcase businesses in eight economic sectors that have attained outstanding results in employment genera-tion and/or retention, applied effective business development solutions, and use innovation in their business processes and product development. The public will also be invited to participate in the activities through the People’s Choice Award where some 16 micro businesses will be featured. Members of the public will participate initially through voting for their firm of choice on the association’s Facebook page, which will be followed by text voting during the final round.

CEO of the association, Ms. Lynette Holder confirmed that this component of the week had performed admirably in the past and was again a feature of this year’s event to galva-nise support and interest in the micro sector. The 16 businesses shortlisted for the compe-tition were drawn from various sectors within the community. “The focus on micro businesses would also show the impact not only on economic development but on the social elements of the society since these firms provided goods and services primarily for the domestic market, were at the commu-nity level and had a direct interface with the general public”, Holder added.

SBA Outlook Newsletter August 2014

A SEAL OF APPROVAL

SBA Business Operations Manager Ms Andrea Taylor & Mr. Daryl Kelly of Bim Media Group

who often highlighted the negatives and pointed out where the business was deficient. Whereas this constructive criticism could help the business to improve, often there was no mechanism to highlight the positives and to celebrate those who delivered quality as part of a referral feature. It is hope that the Small Business Approved programme will help to close the gap in this area.

Representative of BIM Media Group, Mr. Daryl Kelly, compared the review system to international consumer sites Amazon and EBay, and underscored the importance of providing feedback to the shopping experi-ence. Mr. Kelly also reported that an App would be developed as a value-added to the programme and made available for download on smartphones to allow consumers to benefit from discounts offered by participat-ing firms.

due to the ease in market entry and low overheads, are able to leapfrog the domestic space and quickly expand into export markets. The changing business environment, from brick & mortar to an Internet driven climate, further strengthened the growth prospects for the small business. Sir Dwight will therefore offer solutions on the elements of the ecosys-tem needed for this sector to play its catalytic role. Governor with the ECCB since 1989, Sir Dwight also served in the position of Direc-tor of Finance and Planning in the Saint Lucian Government between 1981 and 1989. Sir Dwight is an Economist by training and was educated at the University of the West Indies, Mona, Jamaica where he obtained both a Bachelor of Science (BSc) and a Master of Science (MSc) Degree in Econom-ics. He served as a Junior Research Fellow at the Institute of Social and Economic Research at the University of the West Indies and then as a Lecturer in Economics from 1974 to 1981. He has written and published extensively in the areas of Monetary and International Economics, Central Banking, Public Finance, Economic Development, Political Economy and International Economic Relations.

The Governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner, will deliver the VI Annual Leo Leacock Memorial Lecture during Small Business Week 2014.

The lecture will continue discussion on the theme for the week, “Small Business as an Elixir for Economy Recovery”; will special focus on Small Island Developing States (SIDS). Such a topic is timely in light of the recent United Nations conference on SIDS held in Samoa where the world’s attention was on the sustainable development of small states, particularly within the context of the post-2015 UN development agenda. Equally, the prevailing economic crises being experienced by Caribbean nations provide the backdrop to explore needed solutions to return to economic growth within the region. The chief economist of the Organisation of Eastern Caribbean States sub-region, will draw from his wealth of training and experience in analysing the role small businesses ought to play within the recov-ery plan of small island states. SMEs have the innate potential to catalyse an economy to new levels of growth as these businesses are flexible, operate in all areas of trade, and

SIR DWIGHT VENNER TO HEADLINE SMALL BUSINESS WEEK 2014The lecture will be held at the Errol Barrow Centre for Creative Imagination, UWI Cave Hill on Monday September 22, 2014 begin-ning at 7:00pm. The public is invited to attend.

The Governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner,

Consumers will be able from this month, to patronise businesses that provide a quality guarantee of their goods and services. This is made possible through the collaboration of the Small Business Association (SBA) and the online firm Bim.bb.

The new feature is the Small Business Approved seal; a quality mark that is available to SMEs to be placed on their corporate stationery, website & social media interfaces, emails, offices, company vehicles, etc. The seal represents a symbol of excellence, promotes quality, recognises businesses with exacting standards and provides a guarantee that the business operates according to best practices. Business Operations Manager, Ms. Andrea Taylor confirmed that the initiative would help consumers to identify those firms that were prepared to guarantee a quality experi-ence to the customer. Additionally, the businesses with the seal were those prepared to follow best practice relative to advertising, corporate behaviour and to strengthen consumer loyalty. “This is the standard we desire from our members and the wider SME sector, since quality service is the hallmark of the business and what will separate the successful enterprise from the uncompetitive firm,” Taylor added.

The initiative also features a review system where customers will be encouraged to rate their experiences with participating firms in an effort to not only provide feedback to businesses on the good or service purchased but to influence a culture of celebrating the quality product offerings available in the local small business community. The SBA execu-tive reported that that there were consumers

SBA Outlook Newsletter August 2014

To vote for Your choice Like our facebook page & Like your NomineeTo vote visit

People’s Choice Award NomineesSmall BusinessASSOCIATION

Online voting ends Monday September 8, 2014 at 4:00 p.m.

Alex & Corena CarringtonA3KD INC

Daryl KellyBIM MEDIA GROUP

Kerry AlleynePREFERRED INSURANCE BROKERS

Kathie DanielSOUTHPAW GRAFIX

Lionel DawsonBIZ OFFICE SYSTEMS SOLUTIONS INC.

Carlos JonesMIRACLE BALM

Andrea Thompson & David Davis RENAISSANCE DESIGNS INC.

Rochelle Walrond/Kevin BishopIvan Cox/ Chenika Moore

BOOK LINE

Lyle SealyC.S.L ENTERPRISES INC.

Enterprises Inc.

Osmond McFarlane NEW HORIZONS

ENTERPRISES BARBADOS Paula PhillipsCHILOM INC.

Kellie Cadogan-Price EAST POINT PRODUCTIONS INC.

Nicole FordeCARIBBEAN DREAMS MAGAZINE

Vallis JemmottNOTES OF PRAISE

Wayne WillockRUK-A-TUK INC.

Willie AlleyneWILLIE ALLEYNE ASSOCIATES

PHOTOGRAPHY LTD.

VOTE TO CHOOSE YOUR FINALIST!

Micro company which o�ers photography, graphic design

and makeup services. Business Slogan: A3KD, It's Who We Are

Producer of pain relieving oils, rubs, sinus rubs, natural insect repellents, hair treatments & skin products. The �rm is currently pursuing the Asian

markets to establish a presence there.

Online marketplace which provides buyers and sellers with a unique

community approach to buying and selling. Website also allows

individuals and businesses to advertise their goods and services at

a very low cost.

A textbook loans and rental business providing tertiary level school materials and textbooks. Caribbean Innovation Challenge

Competition �nalist 2013

Sales and service provider of stationary supplies and

equipment for o�ces and homes. Recipient of the Wholesale/ Retail

Award for SBW2012

Specialises in the creation of imaginative solutions to marketing

and design problems particularly for new business ventures. They o�er

services from traditional print media ,to website design, electronic signage

and vehicle graphics

A voice development & production company Firm is a representative for the London College of Music. Company’s

vision is “inspiring lives through the arts”

Provider of general insurance policies including motor, property, personal contents, travel commercial �re and

public liability. Only brokerage �rm in Barbados that o�ers free services in the

collection of payments, delivery of documents and payment of road tax

Landscaping and maintenance company. Also o�ers freighting

services and upholstery of o�ce furniture.

Supplier of coloured wood mulch and coloured �ber products. The mulch is

available in 3 colours - brown, gold, and red, and enhances the landscape of

properties.

This business o�ers tourism-focused Marketing, Advertising & Promotional Services to local and

overseas markets. Also o�ers high quality travel oriented

reading and visuals to travelers.

Christian based business and marketing consultancy service which designs & distributes home textiles including

fashionable bed sheet sets with bible verses on pillow cases, on the foot of the sheet, as

well as curtains, table cloths & blankets.

Provider of event décor services and accessories for individuals,

commercial entities, government and non-pro�t organisations

throughout the island.

A Christian music school o�ering training in keyboards, drums,

bass and rhythm guitar. Currently o�ers the Royal School of Music piano, theory and voice

exams, as well as CXC music

Established over 40 years, specilises in professional

photography services including weddings, portraits, social events,

PR, promo brochures and graduations.

Provider of cultural and indigenous art forms. The

company supplies entertainment bands of varying genres for any

event, in addition to event coordination and studio

https://www.facebook.com/sbabarbados