ENTREPRENEURS TOLD TO MAXIMISE THE POTENTIAL OF THEIR BUSINESSES

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Senator Lynette Eastmond (at right) addressing the audience.

Small business people have been urged to capitalise on all available opportunities in an effort to secure greater market share for their products and services.

The advice came from Business Development Minister, Senator Lynette Eastmond, as she addressed a training session for entrepreneurs sponsored by the Young Americas Business Trust in collaboration with the Organisation of American States and the Pinelands Creative Workshop, at United Nations House, Marine Gardens.

“From the African, Caribbean and Pacific States (ACP)/European Union (EU) Joint Parliamentary Assembly convened at the Sherbourne Conference Centre from last week, to the World Golf Championships – Barbados World Cup next month, to the ICC Cricket World Cup 2007 next year; These are all opportunities for you to launch your businesses whether at or near to these events.  You should all remember that these visitors to our island will travel around the island and should be encouraged to do so by your marketing and therefore benefit from your products and services,” said Senator Eastmond.

She noted that it was not by chance, but a “deliberate policy of Government to host world-class events in Barbados” whether they be international conferences or sporting activities.

“Earlier this month, I had the pleasure to also speak at the company launch of Barbados Authentic Treasures, a ground – breaking initiative by several small businesses that have formed a cluster to provide gifts to locals and tourists.  These entrepreneurs are offering their services to provide gifts for conferences, award ceremonies, employee achievements, special occasions and welcome-to-Barbados gifts.  I was delighted to see the utilisation of their various products to present a totally Bajan package from the Earth Mother Botanicals Ltd’ soaps in locally-crafted baskets, to condiments in locally-made pottery to miniature collections of assorted local candy such as our black bitch, sugar cakes, nut cakes, guava cheese, etc.  This was just an example of the opportunities that exist for you,” said Senator Eastmond.

The Business Development Minister spoke at length about various assistance packages available locally offering both financial and technical assistance that can be accessed to develop businesses or business ideas.

Your ability to access them will depend on the quality of your business plan. You will need a comprehensive business plan to use as the foundation for the building of your enterprise. These are some of the facts that I would like you to consider and utilise for the development of your businesses,” Senator Eastmond said.

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