Industry Minister, Donville Inniss, has reiterated his call for budding entrepreneurs to look beyond these shores and to try their hand at conquering the global market place.
Speaking this morning at Ten, an Entrepreneurial Network Caribbean Start up Summit at the Lloyd Erskine Sandiford Centre, Mr. Inniss contended that settling for conquering the local market alone should no longer be an option.
Citing certain principles as keys for success, the Minister told his audience that thinking outside the box; being a visionary; having a global outlook and standing out from the crowd were some of the attributes they should seek to attain if they truly wanted to succeed.
He continued: “You must see the world as your oyster, be positive in your outlook and be willing to fight for what you want. Hard work and persistence pay off.”
Also commenting on the lack of inter-generational wealth amongst families in Barbados, Mr. Inniss remarked that too often the passing on of wealth and businesses stopped after one or two generations and he was disheartened by this occurrence.
“Instead of looking to build inter-generational wealth, too many of our businesses are often sold off instead of family members taking the reins and continuing to build their brand and business amongst themselves,” he lamented.
Meanwhile, Director of Corporate Communications at CIBC First Caribbean International Bank, Debra King, one of the sponsors of the summit, told attendees that the development of an entrepreneurial spirit within societies was more relevant than ever in today’s economy.
However, she maintained that as the entire world grappled with a new way of approaching the management of economies, surviving as a new business was difficult. However, she pointed out that people who made it through often found themselves happier and “more engaged” than most.