Small BusinessASSOCIATION

You Are ReadingVol. 02 Issue. 5

May, 2014Edition

Building Networks; Creating Wealth

In Focus MEMBERSSPOTLIGHTRead more,

pg2

AIDING ENTERPRISE

IMPORTANT DATES 2014 FEATURE ACTIVITY REACH THE SBAHEAD OFFICE1 Pelican Industrial Park,Bridgetown, BarbadosPhone: (246) 228-0162Fax: (246) 228-0613Email: theoffice@sba.bbWebsite: www.sba.bb www.BIM.bb COMING SOON...

As is the mandate of any government, the Government of Barbados seeks to ensure future advancement of the country. Many strategies have been put in place to do such; one of which is under Pillar 5 of the Barbados Human Resource Development Strategy.

The rationale of Pillar 5 of the Strategy is to use research to assist with entrepre-neurial growth and innovation. Creating a research culture will inform new indus-tries, strengthen product development and compile critical data on the sector to inform policies and programming. Such a decision stems from the Govern-ment recognising that innovation has a beneficial impact on both national economic growth and on corporate performance. Furthermore, a large

number of studies have found a positive relationship between research and develop-ment and growth in output. It is also abun-dantly clear to the Government, that entre-preneurship is important for economic growth, productivity, innovation, and employ-ment.

Pillar 5 consists of a number of core activities including training, incubator programmes, capacity building for key sectors and research projects.

Some of these activities include:

1.) Promotion of a strong research culture where there will be dissemination of informa-tion on science and technology to all Barbadi-ans and the organisation of technical confer-ences for the sharing of information.

2.) The creation of opportunities for the development of innovative goods and services. This includes encouraging an inno-vation driven entrepreneurial culture through the intensification of research and development. Also, there is to be provision for enhanced opportunities for training and professional development in specialised occupations in agriculture and the cultural industries.

3.) The enhancement of opportunities for entrepreneurship. Within this activity there will be the creation of employment oppor-tunities through education, training, and other incentives for small business develop-ment. The activities also provide for the growth of innovative ideas and the review-ing of the fiscal and legislative framework currently in place for the development of SMEs.

THE WORKINGS OF BARBADOS’ HRDS PILLAR 5

June 18Youth SymposiumEnterprise in ActionThe Hilton Hotel

FEATURE ACTIVITY

International Enterprise Partnerships Made Easier

Officials at the ECEPS Launch

The Small Business Association (SBA) recently signed a 2-year agreement with The Foundation for Entrepreneurial Participation (TFEP) to promote a match-making service to enterprises in Barbados and the United Kingdom. One of the events emanating from the MOU was the launch of the Euro-Caribbean Enterprise Partnership Service (ECEPS).

About ECEPSIn today’s global economic climate it is vital for enterprises, more specifically, small and medium sized enterprises (SMEs), to expand their horizons and develop relationships in other countries to facilitate and expand their export poten-tial.

The ECEPS is a place where enterprises can register their request/offer for partnership at NO COST with the inten-tion of securing a partnership with a suitable organisation in order for them to develop a productive relationship.

Once a “Partnership Match” is found the Small Business Association in Barbados and Pathway Caribbean in the UK will be on hand to offer practical support and

guidance to ensure an effective and produc-tive partnership, along with other "Partner-ship Support Organisations".

About TFEPTFEP is a new not-for-profit organisation (part of The Foundation for European Initia-tives) whose major objective is to develop and implement a support infrastructure in the Caribbean to assist entrepreneurs to develop, innovate and partner with other enterprises in the European Union and business support agencies in the Caribbean.

The foundation indicated that Barbados had been chosen as the pilot country for the

because of the interest in supporting small businesses by Barbados Government enter-prise agencies, the UK Government and enter-prise support agencies. It is expected that the venture will help achieve closer ties between small businesses in the European Union and the Caribbean.

The launch was hosted by the British High Commissioner, Mrs. Victoria Dean, at her official residence.

Interested persons can visit the website www.tfep.info for more information.

TFEP activities in the Caribbean

As a young child growing up around big ten wheeler trucks, Duane Griffith discov-ered a passion for trucking. His first stop on leaving secondary school was for a heavy-duty license and he was able to further develop on that passion when he joined the team at C.O.Williams. This earned him the opportunity to gain experi-ence driving trucks of various sizes. However, he laments that although this experience was a fascinating one, the idea of starting his own trucking company was rapidly becoming a priority and he ventured out and purchased his first truck. In April 2008, out of that initial love and passion for trucks, Lil Griff ’s Freighting Services was born.

Lil Griff ’s offers general freighting services and has contracts with some of Barbados’ biggest companies. This work involves delivery and removal of debris in some instances. With his continued passion for trucking, it is his intention to improve the business both in assets and service, thereby making Lil Griff ’s Freight-ing Services a small business making a big impact.

You can reach Lil Griff ’s Freighting at (246) 266-2934 or by email: lilgriff@live.com

ANtelcom (Barbados) Ltd. began opera-tions in 2013, with a strong focus in the Information Communication Technolgy Sector (ICT).

Developing on the regional success of sister company ANtel Trinidad together with a strong long-term relationships with leading manufactures in the ICT industry, ANtel-com is shaping their local Bajan business to offer customers the highest Quality of Experience when conducting business. ANtelcom has gained recognition as a premier supplier of Telecom and Network-ing Solutions offering both Legacy and Next Generation access solutions over Copper, Fibre and Wireless. Teaming up with APC, RAD and RADWIN the business model has been accepted by all the major Carriers, ISPs, Fixed line, Cellular Operators and Enterprise Customers throughout the region.

With 20 years expereince serving the indus-try, ANtelcom has developed into a respon-sive, technically strong, flexible and solutions oriented business.

For more on the services of ANtelcom Ltd. give them a call at 239-5811 or email anton@antel.co.tt

MEMBER’SSPOTLIGHT

Small BusinessASSOCIATION

SBA Outlook Newsletter May 2014

Lil Griff‛sFreighting Services

ANTELCOM(BARBADOS) LTD.

As always the Small Business Association seeks to provide a means of development for its members and its meeting on Tuesday May 27th was no exception. The association held its Members Meeting and Networking Forum where attendees were provided with presentations geared towards providing business opportunities.

Chief Executive Officer of the SBA Ms Lynette Holder said in her opening remarks that, “In light of all that was happening in the economy, there must be opportunities that our small firms can access.”

It is for this reason that the SBA brought the Cherry Tree Trust (a financial institution), Cave Shepherd Company Limited (a depart-ment store) and LIME (a telecommunications company) to make presentations to the SBA members.

Each representative gave insight to their organisation and ways in which small business owners could benefit from them.

If you missed the event, be sure to keep an eye out on the SBA’s social networking sites and website for the video coverage.

Members at the Members Meeting & Networking Forum

Ms. Ronda Smith-JordanCorporate Sales Support Supervisor Lime Barbados

Miracle Balm is a 100% Bajan business with amazing Natural products. The company officially started in January 2013 with an aim to provide a cost effective line of products that will travel the globe and contribute to the health and well being of people of all color and races, by the use of natural oils and herbs. They believe that the things for our healing exist in mother nature - that’s why the business incorporated grandma’s old-time remedies into its’ products. The product line includes:Miracle Balm Oil & Rub: Excellent external products if you are suffering from aching joints and muscles, arthritis, backaches, head-aches, muscle spasms, nerve pains and poor circulation or menstrual cramps. Miracle Balm Hair Growth & Scalp Oils: Natural formulation rich in Horsetail, Rose-mary, Tea Tree and other essential oils and herbs. Miracle Balm Sinus Rub: With Thymol, Peppermint and Chamomile gives a more natural approach to those who experience runny nose and eyes, sinus, nasal & chest congestion, headaches or minor aches and pains. Miracle Balm Healing Therapy Oil: This Oil is rich in calendula and it’s excellent for the healing of minor cuts, scrapes and burns. Miracle Balm Natural Insect Repellent: This repellent is a wonderful formulation with a natural lemongrass base and is DEET-free.

For more information on Miracle Balm you can contact them at (246) 252-7183 or email miraclebalm-barbados@hotmail.com

CEO of First Citizens Bank, Mr. Glyne Harrison, believes that investment in higher education is an investment into the continued development of Barbados. Noting that there is a direct relationship between high rates of participation in tertiary education and the economic growth and development of a country, Mr. Harrison emphasised that despite the current economic challenges being faced at the country, sectoral and family levels, prospective and continuing students should not give up their aspirations of attaining their university education.

Citing that tertiary-level education provides a viable avenue for upward social mobility, increases the opportunities for gaining and maintaining meaningful careers for graduates and provides the stimulation required for new business start-ups he noted that these can all positively contribute to societal improve-ments. In light of the recent developments which transferred the responsibility of financing the economic cost of tertiary education onto students, Mr. Harrison recommended that scholarships, grants, educational financing and other legitimate funding opportunities be fully explored by those seeking higher educa-

tion. With specific reference to bank financ-ing, Mr. Harrison acknowledged that while students may have concerns about using a loan to finance their education, the benefits of doing so far outweigh the disadvantages of and a repayment grace period following graduation all worked together to allow persons to afford higher education. According to Mr. Harrison “First Citizens Bank believes that students, both current and prospective, should have the opportu-nity to pursue their educational goals and First Citizens will work with parents and students alike to help them to achieve that dream”.

EDUCATION IS AN INVESTMENT IN THE FUTURE

SBA Outlook Newsletter May 2014

WELCOME TO THE FAMILY

New members confirmed that they would make use of the courses, website development and networking opportunities that came with being a SBA member. The orientation closed with the new members receiving their certificates and networking amongst themselves.

Membership at the recent Orientation session with BOM, Andrea Taylor (6th from the left)

Business Operations Manager - Ms Andrea Taylor

The Newcomers say…

After the orientation, new members shared their reasons for joining the SBA. Indira Samlal of Antelcom Barbados Limited said she was drawn to the association after visiting their website. She said, “I thought what they offered was good for the development of a young business. It is a great place to get assis-tance and advice to survive as a small business in today’s economy.”

Crystal Barker said she joined out of curiosity. “I wanted to know if they lived up to their name and after today, I see that they do. The owner of a teaching business, Music Angels stated that after joining she was now ready to dive into being an entrepreneur; “I’m enthused and freshly motivated.”

Make use of what’s yours! Ms. Taylor pointed out to the group that the SBA “was very happy to bring training and development sessions for members.”

She said, “Utilize the opportunities. We have free concurrent workshops. I want you to participate, if you cannot make it send an employee whom the workshop would benefit or assist.”

“The association is yours.” These words from Ms. Andrea Taylor, Business Opera-tions Manager of the SBA, as she welcomed new members during a recent orientation meeting.

The 11 businesses went through their orientation on Thursday 22nd of May where one message prevailed; “the SBA belongs to you.” Ms Taylor elaborated on exactly what the new members had within their possession. She mentioned the business assistance the SBA provided from the business tool kit firms received on membership, to workshops and educational seminars.

She stated that small businesses contrib-uted greatly to the Barbadian economy and the SBA was there to ensure that they strived. She said, “We must ensure that we have an enabling environment. If that does not happen, we stand the chance of becoming obsolete.”

Ms. Taylor also ensured that the newcomers were fully abreast on what they now had to call their own. She also spoke on what the SBA did not do. “We do not give loans however, we advocate for better conditions for members” Ms Taylor added.